Movement Alert|CIG Falls 5.03% in Regular Trading, Profit-Taking Pressure Emerges on Interim Results Day as Optical Communications Sector Weakens

Market Focus
Aug 24

On August 24, CIG fell 5.03% in regular trading, trading at 92.2 HKD/share, with turnover of HKD 226 million.

On the news front, the company's board convened today to review interim results for the six months ended June 30 and to consider an interim dividend, with the full half-year report also set for release. However, CIG shares had rallied sharply since early August from a 52-week low of just 60.6 HKD, creating significant accumulated gains. The arrival of the earnings release date triggered profit-taking. Meanwhile, lingering concerns over a reported US FCC proposal to ban imports of Chinese optical transceiver modules continued to suppress sector sentiment, with peer ZJ Innolight declining 7.63% in the same session.

The company had previously guided H1 net profit attributable to shareholders of RMB 3.10–3.59 billion, representing year-over-year growth of 157%–197%, driven by strong demand for high-speed optical modules and product mix upgrades.

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