Core Viewpoint - Changfei Fiber Optics has seen a significant decline in stock price, dropping over 30% from its September peak of 65 HKD, with a current price of 45.06 HKD, reflecting market concerns about its future profitability [1] Group 1: Stock Performance - The stock of Changfei Fiber Optics (601869) and its subsidiary Changxin Bochuang (300548) has experienced a drop of over 4%, with a trading volume of 6.76 billion HKD [1] - The current stock price is reported at 45.06 HKD, down 3.92% at the time of reporting [1] Group 2: Market Expectations - Nomura's research indicates that the rise in Changfei's stock earlier this year was driven by market expectations of increased demand for high-end products like G.654E fiber and hollow fiber due to AI data centers [1] - The firm believes that the recent tender results from China Mobile show a decline in Changfei's market share and average selling price, which may pressure profitability starting from Q3 of this year [1] Group 3: Analyst Rating Changes - Nomura has downgraded its rating on Changfei from "Buy" to "Neutral," suggesting that the current stock price reflects the positive factors associated with AI business expansion [1] - The target price has been significantly adjusted from 18.6 HKD to 52 HKD, indicating a more cautious outlook despite the upward revision [1]

Core Viewpoint - Changfei Optical Fiber and Cable (06869) has seen a decline of over 30% from its September peak of 65 HKD, with a current price of 45.06 HKD, reflecting market concerns about its future profitability due to recent bidding results from China Mobile [1] Group 1: Market Performance - The stock has dropped over 4%, with a trading volume of 676 million HKD [1] - The current price is reported at 45.06 HKD, down 3.92% [1] Group 2: Analyst Insights - Nomura's report indicates that the rise in Changfei's stock earlier this year was driven by expectations of AI data centers adopting high-end products like G.654E and hollow fiber [1] - The report highlights a decline in market share and average selling prices for Changfei, as indicated by recent fiber optic bidding results from China Mobile, which may pressure profitability starting from Q3 of this year [1] - Nomura has downgraded its rating from "Buy" to "Neutral," while significantly raising the target price from 18.6 HKD to 52 HKD [1]