HK Stock Market Move | Huaqin Co., Ltd. (03296) rose more than 8% in the first quarter, with strong earnings growth. It is expected to contribute to performance growth starting from the second half of the year.

Huaqin Co., Ltd. (03296) rose more than 8% in the afternoon, with a 7.87% increase to HK$98.70 at the time of publication, with a turnover of HK$185 million. On the news front, Huaqin Co., Ltd. recently released its first-quarter performance, with the group achieving operating income of 40.746 billion yuan, a year-on-year increase of 16.42%; net profit attributable to shareholders of listed companies was 1.061 billion yuan, a year-on-year increase of 25.96%. Zhongtai believes that the data center business revenue in Q1 2026 grew on a quarterly basis, with a slight decrease year-on-year due to a high base, and is expected to continue to grow on a quarterly basis in Q2 2026. With the mass production of super nodes in H2 2026, data center revenue is expected to reach a new level. Huaqin is one of the few companies in the industry that have GPU nodes/CPU nodes/Switching nodes simultaneously. While leading in technology, the company has deep cooperation with downstream customers. Super node products have been shipped in small batches in April, and are expected to reach the first stage production capacity peak in July, contributing a significant increase in performance from H2 2026.