HK Stock Market Move | MOBVOI (02438) rose more than 15% in the closing session. The AI intelligent hardware business performed well in the first half of the year. The three major operators may restart eSIM.

MOBVOI (02438) rose more than 15% in the final trading session, as of the time of writing, it rose by 15.79% to 0.66 Hong Kong dollars, with a transaction volume of 14.8115 million Hong Kong dollars. On the news front, MOBVOI recently released its interim performance report. In the first half of the year, the revenue was 179 million yuan, a 10% increase year-on-year; the adjusted net loss was 1.408 million yuan, a 97.5% decrease year-on-year; the net loss during the period was 2.898 million yuan, a 99.5% decrease year-on-year. During the period, the revenue from AI software business was 80.6 million yuan, a decrease of 21.7% year-on-year; and the revenue from AI intelligent hardware business was 98.3 million yuan, an increase of 64.8% year-on-year. The Group increased strategic market and brand investment in the first half of the year, and optimized the inventory structure of the new product "TicNote", leading to some fluctuations in the gross profit margin of this sector in the short term. With the gradual completion of the inventory structure adjustment, it is expected that the gross profit performance will stabilize. It is worth noting that Apple has officially released the iPhone Air which supports only eSIM. In addition, according to Sina Technology, the three major domestic operators may fully restart the eSIM business that has been suspended for two years, with China United Network Communications taking the lead in many provinces and cities. It is reported that as early as 2017, Shanghai Unicom and MOBVOI jointly launched the first domestic smartwatch supporting eSIM - Ticwatch 2, which enables 3G communication.