Core Viewpoint - The Hong Kong stock market has entered a notable bull market since 2025, with the Hang Seng Index rising approximately 25.5% from the beginning of the year to August 20, significantly outperforming major US indices and A-shares [1][3]. Group 1: Company Performance - The company's stock price has surged by approximately 131.0% since the beginning of the year, significantly outperforming the Hang Seng Index [1][3]. - For the first half of 2025, the company reported a revenue of HKD 45.5 billion, a year-on-year increase of 13.6%, and a net profit of approximately HKD 610 million, up 34.7% year-on-year, indicating strong financial performance [5][6]. - The company's return on equity (ROE) reached 13.7%, positioning it among the top in the domestic ICT distribution and technology services industry [5]. Group 2: Growth Drivers - The cloud and AI computing segment has shown explosive growth, with a year-on-year increase of 67.9%, driven by partnerships with major cloud providers [6][7]. - The Southeast Asian market remains a significant growth area, with a year-on-year revenue increase of 22.5%, particularly in countries like Thailand and the Philippines [8][9]. - The company has established a strong presence in the domestic market, with over 70% of its revenue coming from local brands, reflecting a solid foundation for growth [10][15]. Group 3: Strategic Positioning - The company is recognized as a leader in AI computing infrastructure, actively participating in the construction of national-level intelligent computing centers [12][13]. - The company has a robust global strategy, particularly in Southeast Asia, where it has localized operations and partnerships with major international brands [16][17]. - The company is exploring innovative business models, including stablecoin settlements and advancements in embodied intelligence, to enhance its competitive edge [19][20]. Group 4: Future Outlook - The ongoing bull market in Hong Kong is expected to provide further upward momentum for the company's stock price, with significant growth potential in AI, cloud computing, and Southeast Asian markets [21][22]. - The company's strong fundamentals and clear growth trajectory position it as a valuable long-term investment opportunity in the current market environment [22].