HK-listed Pangaea soars on securing over $1 bln of sales contracts
BUZZ-HK-listed Pangaea soars on securing over $1 bln of sales contracts ** Shares of Pangaea Connectivity Technology Ltd 1473.HK soar 54.8% to HK$1.96 each, their highest level since June 3
** Telecommunications components distributor's stock last up 39.7%, on track for biggest pct rise since June 1
** Pangaea said it has recently secured substantial sales contracts with aggregate value of all sales contracts on hand exceeding $1 billion so far this year. thanks to rapid growth of the global AI market and strong demand for advanced optical connectivity solutions
** The sales contracts are primarily for 200Gb/s Indium Phosphide (InP) photodiodes and its application includes 800G/1.6T transceivers for AI data center and next generation AI infrastructure - co
** YTD, stock up 357.1%, while Hang Seng TECH Index .HSTECH down 19.5%
(Reporting by Donny Kwok)
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