Zhixing Auto Technology (01274) rose by nearly 20%. As of press release, it rose 16.29% to HK$30.7, with a turnover of HK$8.2556 million.
The Zhitong Finance App learned that Zhixing Auto Technology (01274) had the highest increase of nearly 20%. As of press release, it had risen 16.29% to HK$30.7, with a turnover of HK$8.2556 million.
According to the news, in response to the abnormal fluctuation in yesterday's stock price, Zhixing Auto Technology issued an announcement last night stating that after reasonable inquiries, it was confirmed that it was unaware of any reason for such unusual fluctuations in stock prices and trading volume. As of the date of the announcement, the company is operating normally, and the board of directors has full confidence in the Group's future development prospects. Furthermore, the Hang Seng Composite Index will welcome the results of a new round of review in August. The adjustments will officially take effect on September 9, and the Hong Kong Stock Connect will also adjust accordingly. According to CITIC Securities's forecast, 20 individual stocks are expected to be included in the Hong Kong Stock Connect at that time, including Zhixing Auto Technology.
According to reports, Zhixing Auto Technology, as a leading provider of autonomous driving solutions in China, has established cooperative relationships with many well-known automobile manufacturers including Geely, Great Wall, Chery, and Dongfeng. Citi pointed out earlier that it has observed the strong order trend of Zhixing Auto Technology, especially the strong order volume of traditional partner Krypton and the increase in sales volume brought about by safety design awards. It is expected that 2024 will become an inflection point for Zhixing Auto Technology to turn losses into profits, and is expected to achieve a net profit of 0.5 billion yuan in 2026.