ZJ INNOLIGHT soared 12.6% in intraday trading on Tuesday, as a flurry of positive catalysts ignited a sharp rally for the AI hardware maker.
The surge followed a Hong Kong Stock Exchange filing revealing that The Capital Group Companies, Inc. had acquired 2.757 million H shares, lifting its stake above the 5% disclosure threshold. In parallel, Nomura Securities initiated coverage on the stock with a Buy rating and a HK$1,595 price target, signaling roughly 50% upside potential.
The bullish sentiment was further supported by the broader rebound in the Communications Equipment sector, with peers such as CIG and YOFC also posting gains. Additionally, the company's chairman had previously proposed a buyback plan of up to RMB 8 billion, reinforcing confidence in the firm's outlook.
