Early Morning Trend | DZUG consolidates at the critical point, is the defensive range about to open direction?

DZUG (1635.HK) is currently at a critical consolidation point after yesterday's close, with the stock price testing the support of the defensive range. The daily K chart shows that DZUG has recently been consolidating with reduced volume, and the short-term moving averages of 5 days, 10 days, and 20 days are gradually converging. The K-line is fluctuating narrowly in a horizontal manner, and the MACD continues to hover near the zero axis, reflecting an intensifying divergence between bulls and bears. From a funding perspective, the net outflow of large orders from the main players is slowing down, with existing funds primarily engaged in short-term speculation. The intraday trend also repeatedly revolves around key price levels, indicating a noticeable wait-and-see sentiment among large funds. Fundamentally, the public utility industry where DZUG operates benefits from stable cash flow and policy support. Recent policy catalysts and marginal benefits from electricity price adjustments have attracted some defensive funds, but there is an overall lack of a strong mainline logic for significant upward movement. At this stage, DZUG needs to pay attention to the support strength of the long-term moving averages (such as the 30-day and 60-day moving averages) and the volume performance of intraday transactions. If there is a volume breakout above the pressure zone after consolidation, or if there is an influx of funds combined with external positive factors, the short-term outlook may be strong. However, if the volume continues to decrease and market rotation remains weak, the defensive zone may face a breakdown risk, and position sizes should be strictly controlled. Short-term operations should be flexibly adjusted based on changes in volume and intraday transactions, with a strategy to maintain positions within the defensive zone being advisable

Hong Kong stocks close | Hang Seng TECH Index rises 2.78%, Kuaishou surges 7.11% leading the sector, Ganfeng Lithium falls 5.66% against the trend

On November 24th, the Hong Kong stock market rose overall, with all three major indices increasing, led by a rebound in the technology sector. Kuaishou saw significant gains, boosting the popularity of tech stocks. Trading activity surged, with funds repeatedly circulating around leading internet companies and hot stocks. Adjustments in some individual stocks triggered structural differentiation, while improvements in consumption and import-export data provided macro support for the market

In the first half of the day, main funds increased their positions in bank stocks and sold off telecommunications stocks

In the morning, the main funds had a net inflow into sectors such as banking, non-ferrous metals, and basic chemicals, while there was a net outflow from sectors like telecommunications, electronics, and power equipment. Specifically, in terms of individual stocks, DZUG, Chengxin Lithium, and FOUNDERTECH saw net inflows of 1.349 billion yuan, 1.249 billion yuan, and 1.172 billion yuan, respectively. On the outflow side, CATL, Zhongji Xuchuang, and Xinyi Technology were sold off for 1.911 billion yuan, 1.606 billion yuan, and 1.113 billion yuan, respectively. (First Financial)

Mole Thread concept stocks surged, LMH hit the limit up, ChiNese ChuRinga, Heertai, DZUG, Intretech, INSIGMA and others had the largest gains

Understanding the Market | DZUG opened over 5% higher after earnings, with net profit attributable to the parent company of 520 million yuan in the first three quarters, an increase of more than 2.05 times year-on-year

DZUG rose over 8%, as of the time of writing, it increased by 5.66%, reported HKD 4.88, with a transaction volume of HKD 5.6403 million. On the news front, on October 30, DZUG released its third-quarter report for 2025. As of September 30, 2025, the group achieved operating revenue of RMB 4.596 billion, a year-on-year decrease of 2.65%; the net profit attributable to shareholders of the listed company was RMB 520 million, a year-on-year increase of 205.14%; basic earnings per share were RMB 0.176. It is worth mentioning that recently, the Shenzhen Municipal Government released an action plan to promote high-quality development of mergers and acquisitions, striving to comprehensively improve the quality of listed companies in the jurisdiction by the end of 2027, with the total market value of domestic and foreign listed companies exceeding RMB 20 trillion, and cultivating 20 enterprises with a market value of over RMB 100 billion. The mergers and acquisitions market is seeing both quantity and quality improvements, with over 200 completed merger projects and a total transaction amount exceeding RMB 100 billion, along with a number of industry demonstration cases. According to public information, DZUG invested in Shenzhen Innovation Investment Group Co., Ltd. (referred to as "Shenzhen Innovation Investment") as early as 2002, becoming its second-largest shareholder. The semi-annual report shows that DZUG holds 10.80% equity in Shenzhen Innovation Investment