--- title: "Tech, Noodles, and Sneakers: The Identity Crisis of Hong Kong's \"New Economy\"" type: "News" locale: "en" url: "https://longbridge.com/en/news/296333310.md" description: "If you want to see how loose the definition of \"tech\" has become, look no further than this bizarre mix of gaming, instant noodles, and real estate masking as innovation." datetime: "2026-08-19T09:42:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296333310.md) - [en](https://longbridge.com/en/news/296333310.md) - [zh-HK](https://longbridge.com/zh-HK/news/296333310.md) generator: "portal-rs" --- # Tech, Noodles, and Sneakers: The Identity Crisis of Hong Kong's "New Economy" Let’s get one thing straight: calling this a "tech and internet" roundup is stretching the truth so thin you could read a newspaper through it. But here we are, looking at a bizarre hodgepodge of companies that are desperately trying to ride the "new economy" wave, even if their core business involves instant noodles or sneakers. It's the ultimate identity crisis of the Hong Kong market. Take IGG (0769.HK), for instance. They are an actual gaming company, so they get a pass. Their flagship *Doomsday: Last Survivors* pulled in roughly HKD 700 million in the first half of 2026, up 33%. They are keeping the lights on with crossover events and milking their older franchises. Good for them. But then we pivot violently to Nissin Foods (2553.HK). Yes, the ramen guys. I love a good cup of noodles, but unless they are embedding microchips in the seasoning packets, they aren't tech. They are just trying to survive in a crowded consumer market. And speaking of survival, let’s talk about real estate wearing a tech trench coat. ESR (6810.HK) calls itself a "new economy" real estate manager because they build data centers and logistics hubs. Sure, servers have to live somewhere, but it's still property management at its core. Meanwhile, Hefei City Construction Development (1716.HK) had to literally issue a statement in May 2026 begging the market to stop treating them like a semiconductor shadow stock. They build houses, folks. They lost over CNY 500 million in 2025. Stop trying to make fetch happen. Then there are the pivoters. Ruifeng Renewable Energy recently rebranded to Ruifeng Green Energy AI Computing Holdings (2522.HK). Adding "AI Computing" to a wind power company's name is the most 2026 thing I’ve ever seen. Over in the eco-friendly corner, China Everbright Greentech (3788.HK) is quietly chugging along, eking out a 3% revenue bump to HKD 3.49 billion in H1 2026. Not sexy, but at least they aren't pretending to be a software startup. Finally, we have Xtep International (1368.HK). The chairman just bought another 2 million shares in early 2026 to boost his stake to 47.27%. They are selling shoes directly to consumers and making a killing in the running niche. They are doing fine. Just don't call them a tech company. The bottom line? Investors need to stop reading the buzzwords and start looking at the actual businesses. You can't code a pair of sneakers. ### Related Stocks - [02553.HK](https://longbridge.com/en/quote/02553.HK.md) - [06810.HK](https://longbridge.com/en/quote/06810.HK.md) - [02522.HK](https://longbridge.com/en/quote/02522.HK.md) - [01368.HK](https://longbridge.com/en/quote/01368.HK.md) - [03788.HK](https://longbridge.com/en/quote/03788.HK.md) - [01716.HK](https://longbridge.com/en/quote/01716.HK.md) ## Related News & Research - [Most Kwai Chung agrees to buy two Xiamen mobile advertising firms for RMB 146,300](https://longbridge.com/en/news/297528188.md) - [Daiwa Raises XTEP INT'L TP to HKD4, Upgrades Rating to Outperform](https://longbridge.com/en/news/296979170.md) - [XTEP INT'L Trims Full-yr Revenue Guidance to LSD YoY Decline, Reiterates NPM Seen at HSD Level](https://longbridge.com/en/news/296873745.md) - [Jiangxi Rimag files HKEX next-day return, issues 5,736,500 H shares from treasury at HKD 6.41](https://longbridge.com/en/news/297317173.md) - [Jiangxi Rimag files HKEX next-day return, issues 49,435,500 new H shares in capital increase](https://longbridge.com/en/news/297163481.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**