Changes in Hong Kong stocks | Changfei Optical Fiber & Cable (06869) fell more than 7%, Corning's third-quarter results guidance fell slightly lower than expected, and the stock price plummeted

The Zhitong Finance App learned that Changfei Optical Fiber Cable (06869) fell by more than 7%, hitting a new low of HK$101.2 since the beginning of February this year. The current stock price has retreated by more than 60% from the June high. As of press release, it decreased by 6.95% to HK$101.7, with a turnover of HK$1,975 billion.

According to the news, US specialty glass and fiber manufacturer Corning announced its second-quarter results on Tuesday. At one point, the stock price plummeted by more than 20%. Specifically, in the second quarter, its revenue increased 17%, profit increased 30%, and optical communications revenue increased 32% year over year. However, the core sales guide for the third quarter was US$4.9-50 billion, and the upper limit was only in line with expectations. The guidance implied a sharp drop in the month-on-month growth rate from 9% to 3-6%.

It is worth noting that recently, due to concerns about the ability to monetize the huge capital expenses of AI infrastructure, capital is being withdrawn at an accelerated pace from crowded technology concepts. Furthermore, since this year, many industrial chain companies have begun to expand production of optical rods and special optical fibers, and some companies have also entered the market across borders. Nomura previously said that if new entrants can successfully develop high-end products and successfully implement production capacity expansion plans, market competition will intensify, and existing participants may face pressure to expand profit margins.