--- title: "Inside the HK Small-Cap Shuffle: Jiaxin's Rebound and Ming Yuan's Winter" type: "News" locale: "en" url: "https://longbridge.com/en/news/294333301.md" description: "According to insiders, Hong Kong's peripheral mid-caps are undergoing significant realignments. While Jiaxin International strikes profitability, Ming Yuan Cloud faces a severe earnings squeeze. Meanwhile, SUNeVision and Guoquan are pushing forward with capacity expansions amid the broader market shuffle." datetime: "2026-07-30T09:13:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294333301.md) - [en](https://longbridge.com/en/news/294333301.md) - [zh-HK](https://longbridge.com/zh-HK/news/294333301.md) --- # Inside the HK Small-Cap Shuffle: Jiaxin's Rebound and Ming Yuan's Winter I am told that away from the dominant tech giants, a cluster of mid-to-small cap companies in Hong Kong are undergoing the most significant overhaul in their fundamentals since the start of the year. The contrast in their recent performance metrics is stark. ### Earnings Beats and Winter Chills **Jiaxin International Resources (3858.HK)**, which operates a massive tungsten mine in Kazakhstan, is seeing a major turnaround. According to people familiar with the matter, the company issued a profit alert in July 2026, projecting interim net profits to hit between **HKD 1.45B and 1.55B**. This confirms that its capital-heavy strategy to cover the entire tungsten supply chain is finally paying off. On the flip side, real estate SaaS provider **Ming Yuan Cloud (0909.HK)** is facing a severe squeeze. I've learned that due to shrinking foreign exchange gains, its net profit for the first half of 2026 is expected to plunge below **RMB 1.5M**, a steep drop from RMB 13.75M a year earlier. While its new AI models recently secured regulatory approval, the core business remains under intense pressure, keeping its market performance subdued. ### Infrastructure and Retail Expansions In the infrastructure space, data center operator **SUNeVision (1686.HK)** is quietly securing massive funding to expand its footprint. In June 2026, a subsidiary locked down a loan facility of up to **HKD 3.0B**. This will bankroll the completion of its MEGA IDC phase two, expected by 2026 or 2027, building on its solid FY25 total revenue of **HKD 2.938B**. Over in the consumer sector, at-home hotpot brand **Guoquan (2517.HK)** is pushing deeper into lower-tier cities. Internal targets indicate the company plans to surpass **14,500 stores** later this year. Their projected Q1 2026 revenue of **RMB 2.2B to 2.3B** suggests that momentum remains strong despite broader macro headwinds. Heavy machinery giant **SANY International (0631.HK)** continues its transition toward smart mining and electrified logistics. Building on 2025 revenue of over **RMB 24B**, the firm is aggressively reallocating resources into hydrogen and solar sectors. Meanwhile, property management firm **Pujiang China (1417.HK)** saw a major ownership shift in June 2026, when Weimob's founder scooped up a controlling stake for about **HKD 156M**, setting the stage for potential tech-driven restructuring in its daily operations. ### Also - **SinoHytec (2402.HK)**: The hydrogen fuel cell maker continues to navigate commercialization bottlenecks, limiting its short-term catalysts. - **CSC Financial (6066.HK)**: The brokerage is working to offset the recent sluggish trading volumes in the broader Hong Kong equity market. - **Wai Chun Bio-Technology (0660.HK)**: The biotech firm remains in the midst of pipeline restructuring to survive the sector's liquidity drought. - **Jinhai International (2225.HK)**: The manpower and service provider is actively adjusting its operations in response to shifting global labor demands. _This article does not constitute investment advice._ ### Related Stocks - [03858.HK](https://longbridge.com/en/quote/03858.HK.md) - [01417.HK](https://longbridge.com/en/quote/01417.HK.md) - [01686.HK](https://longbridge.com/en/quote/01686.HK.md) - [02402.HK](https://longbridge.com/en/quote/02402.HK.md) - [06066.HK](https://longbridge.com/en/quote/06066.HK.md) - [02517.HK](https://longbridge.com/en/quote/02517.HK.md) - [02225.HK](https://longbridge.com/en/quote/02225.HK.md) ## Related News & Research - [Riverine China Corrects Substantial Shareholder Data Amid Takeover Offer](https://longbridge.com/en/news/294382386.md) - [Riverine China corrects disclosure, says Sure Advance stake in firm falls to 4.28% after share sales](https://longbridge.com/en/news/294375780.md) - [Riverine China Sets Timetable for Mandatory Takeover Offer](https://longbridge.com/en/news/293260843.md) - [Revenue and Profit Rise as Guoquan's 10,000-Store Network Strengthens Its Long-Term Moat](https://longbridge.com/en/news/289129367.md) - [Guoquan Food Controlling Shareholder Cuts Stake, Group Agrees to 180-Day Lock-Up](https://longbridge.com/en/news/282929665.md)