Key Takeaways:
Shares of Yangtze Optical Fibre and Cable plunged 13.3% in Hong Kong after the company reported first-quarter net profit surged by 226.4 percent.
The fibre optic cable manufacturer’s net profit soared to RMB 495 million in the first quarter of 2026, up from the previous year, according to a company filing. Operating revenue for the quarter increased 27.7% year-over-year to RMB 3.695 billion, driven by what the company cited as increases in both operating revenue and gross margin.
The dramatic sell-off suggests investors are taking profits after a massive run-up in the stock. Prior to Tuesday's session, YOFC’s shares had surged by 2.86 times year-to-date. The stock opened 5.11% lower and hit a bottom of HKD 196.1 before closing at HKD 200. Trading volume was heavy, with 16.98 million shares changing hands for a total of HKD 3.475 billion.
This article is for informational purposes only and does not constitute investment advice.
