Changes in Hong Kong stocks | Shenghong Technology (02476) rebounded more than 6%, and the market is overly concerned about the Nvidia Kyber project

The Zhitong Finance App learned that Shenghong Technology (02476) rebounded more than 6%. As of press release, it had risen 6.4% to HK$226, with a turnover of HK$1,072 billion.

According to the news, Shenghong Technology announced that the company released the first draft A-share employee stock ownership plan for 2026, and the total amount of capital to be raised will not exceed 700 million yuan. Of these, employees raised no more than 350 million yuan of their own funds and raised no more than 350 million yuan. Participants included no more than 564 directors, executives, and core executives. The source of shares was purchased through the secondary market.

J.P. Morgan said investors were overly concerned about Nvidia's Kyber project timeline and the company's market share in Vera Rubin. Shenghong Technology's profit forecast for 2026-2028 was lowered by 5-13% to reflect the impact of the PCB project planned for this year climbing slightly later than expected and the possible delay in the launch of the Kyber project. Nomura also said that Shenghong Technology can still maintain its position as a leading supplier for GPU customers, while entering ASIC and fiber transceiver customers will drive its sustainable growth from the second half of this year to next year.