Changes in Hong Kong stocks | Hongteng Precision (06088) fell more than 6% at the end of the session. Management lowered the operating profit guideline from a 70% year-on-year increase to basically the same level

The Zhitong Finance App learned that Hongteng Precision (06088) fell more than 6% at the end of the session. As of press release, it fell 6.07% to HK$2.63, with a turnover of HK$674.299 million.

According to the news, Hongteng Precision's revenue for the third quarter of 2026 increased 4.0% year on year to US$1,378 million; operating profit decreased 38.8% year on year to US$58 million. Management lowered the revenue forecast for the consumer interconnection business, which is expected to drop by about 25% year on year, and lowered the 2026 operating profit guide to basically the same level from the 70% year-on-year increase previously expected.

Morgan Stanley released a research report saying that Hongteng Precision's operating profit for the third quarter fell short of expectations. The bank downgraded its rating from “increasing holdings” to “in sync with the market” due to structural profit margin headwinds and delays in monetization of AI projects, and indicated that AI demand momentum has not yet been transformed into sustainable profit growth to offset weakness in other segments, and that rising raw material prices and slow efficiency of new plants have also seriously dragged down profitability.