Recently, the popularity of consumer electronics has remained high, especially thanks to Apple's artificial intelligence mobile phone and parts companies, Shunyu Optical Technology (02382. HK) and Qiu Titanium Technology (01478. HK), which have received widespread market attention.
At the same time, stocks related to personal computers have also strengthened in the field of consumer electronics. The stock price of Baineng Group (01263. HK) has significantly increased recently. As of the time of publication, the stock price of Baineng Group has risen 22.2% to HKD 4.89.
Note: Recent performance of Baineng Group
It is worth noting that Baineng Group has risen by 27.80% in the past seven trading days. If current performance is included, the cumulative increase is 50%.
According to public information, Baineng Group is a well-known graphics card manufacturer, whose main business is the design, development, and manufacturing of image display cards. It is one of the world's top five brand partners for NVIDIA (NVIDIA) video display adapters. The Sotai brand graphics cards under the Baineng Group are famous for their widespread use in mining.
In fact, due to the large amount of procurement of graphics card chips coming from Nvidia, Berenig Group is known as Nvidia's shadow stock in the market.
Dual benefits stimulate a sharp rise in the stock price of Baineng Group
According to yesterday's post market announcement, the net profit attributable to shareholders for the six months ending June 30, 2024 shall not be less than approximately HKD 150 million. The company explained that the gross profit margin in the first half of this year has improved compared to the same period last year. The main reason is the strong demand for the new series of image display cards launched earlier this year, coupled with an improvement in demand for image display cards compared to last year, resulting in a decrease in sales and marketing expenses generated by the private brand business to stimulate sales.
At the same time, NVIDIA, a partner of Sotai under the Baineng Group, has become the world's highest market value stock. As of the close, Nvidia's stock price rose 3.51% to a historic high of $135.58, with a total market value of $3.335 trillion. This has also driven the Baineng Group.