MOBVISTA

1860.HK opened high at HK$10.46 but trended lower during the morning session, hitting an intraday low of HK$9.92 before closing at HK$9.96, a 4.4% drop from the prior close of HK$10.42 on turnover of approximately HK$4.79 million. Q1 2026 earnings showed revenue up 33.19% YoY to HK$4.56 billion, net profit up 61.76% YoY to HK$268 million, and EPS up 62.06% YoY to HK$0.174, reflecting solid business momentum, though the net profit margin of 5.89% highlights margin pressure. The stock remains 53.93% below its 52-week high of HK$21.62 and trades below both the 20-day MA of HK$11.18 and the 60-day MA of HK$13.61, indicating technical weakness; however, a 42.9% rebound from the 52-week low of HK$6.97 and a YTD decline of 36.56% suggest some support at lower levels.

汇量科技今日低开高走，下午盘收涨 10.42%，较前收 10.43 港元近乎持平，但盘中振幅达 7.7%，早盘最低触及 9.67 港元后持续上行，最终收于日内高点 10.42 港元。驱动午后反弹的主因是市场对 AI 应用板块的追捧情绪回暖，叠加近期多家券商重申买入评级，如西南证券、华创证券等。基本面上，公司 Q1 营收 45.55 亿港元同比增 33.19%，净利 2.68 亿港元同比增 61.76%，但营业利润 1.75 亿港元同比下降 6.59%，净利率 5.89% 低于 Q4 的 14.53%。当前股价 10.42 港元仍远低于 52 周高点 21.62 港元，较年初跌 33.63%，且低于 20 日均线 11.35 港元和 60 日均线 13.69 港元，不过盘中已突破 10 港元整数关口，短期动能有所修复。

Mobvista opened down 6.3% at HK$11.00, tracking the divergence in Hong Kong AI application stocks. The stock staged a recovery after touching an intraday low of HK$10.27 in the afternoon session, closing at HK$10.43, down 6.04%. Total turnover reached HK$142 million with a turnover rate of 0.8%. The company now has a market cap of approximately HK$17.6 billion, with a PE of 30x and PB of 6.8x. While multiple brokerages, including Southwest Securities, Huatai Securities, and China Merchants Securities, have reiterated their Buy ratings since March, the stock remains under pressure. Price-wise, the current level is 51.8% below the 52-week high of HK$21.62, yet still 55.2% above the 52-week low of HK$6.72, and trades below both the MA20 (HK$11.55) and MA60 (HK$13.78). The YTD decline stands at 33.6%. However, the company reported Q1 2026 revenue growth of 32.2% YoY to US$581.3 million, contrasting with the stock's weak price action.

1860.HK opened low and rallied sharply, closing at HKD 11.64, up 8.6% from the previous close of HKD 10.72, with an intraday range of 10.2%. The afternoon session saw a dramatic surge in volume to 15.8 million shares, dwarfing the morning's 3.3 million, indicating concentrated buying after lunch. The move was driven by a wave of bullish analyst calls: Southwest Securities, Huachuang Securities, and Sinolink all reiterated Buy ratings, while China Merchants Securities initiated coverage with a Strong Buy, citing product iterations driving high earnings growth. The company's Q1 revenue rose 32.2% YoY to USD 581.3 million, underpinning the positive sentiment. However, the stock remains 46.2% below its 52-week high of HKD 21.62, down 25.9% year-to-date, and trades below its 60-day moving average of HKD 13.95, suggesting the broader downtrend is not yet broken.