HK.AI CAPITAL (01140.HK) Forecasts Net Profit to Surge Over 90x; Institutions Expect Hong Kong Stocks' Valuation Recovery to Continue
On June 18, 2026, HK.AI CAPITAL (01140.HK) issued a positive profit alert. The announcement indicated that for the year ended March 31, 2026, the net profit attributable to owners of the company is expected to range between HK$6.0 billion and HK$6.3 billion, representing a substantial increase compared to the HK$64.2 million recorded in the same period of 2025.
According to Wind data, on June 22, 2026—the first trading day following the profit alert—HK.AI CAPITAL (01140.HK) opened significantly higher by over 14%. As of the midday close, the stock had risen by 7.75% to HK$0.139.
Financial Structure: Profit Growth Primarily Driven by Asset Swaps and Fair Value Changes
According to the profit alert, the substantial increase in net profit for the period was primarily driven by two non-recurring profit and loss items.
First, a one-off gain from asset disposal (approximately HK$3.45 billion to HK$3.65 billion).The company sold 60 million shares (representing 22.50% of the entire issued share capital) it held in CSOP Asset Management Limited toGOFINTECH QUANTInnovation Limited (00290.HK). The consideration of HK$1.11 billion was settled byGOFINTECH QUANTthrough the allotment and issuance of approximately 1.405 billion consideration shares at an issue price of HK$0.79 per share. The difference between the fair value of the consideration shares on the completion date of the disposal and the carrying value of the target shares was recorded as a one-off investment gain.
Second, unrealized investment gains (approximately HK$2.53 billion to HK$2.79 billion).Following the completion of the share swap, HK.AI CAPITAL holds a partial equity interest inGOFINTECH QUANT. During the reporting period, due to the appreciation inGOFINTECH QUANT's share price, the financial assets at fair value through profit or loss generated corresponding floating book gains.
Through the aforementioned transactions, HK.AI CAPITAL adjusted its underlying asset structure, swapping a minority stake in a traditional asset management platform for a target strategically focused on frontier fields such as quantum technology.
Industry Background: Ongoing Valuation Recovery in Hong Kong Stocks Highlights the Allocation Value of the Tech Track
HK.AI CAPITAL's recent asset restructuring occurred against the backdrop of an overall valuation recovery in the Hong Kong stock market. According to disclosures from HKEX, the average daily turnover in the Hong Kong cash market reached HK$276.7 billion in the first quarter of 2026, a year-on-year increase of 14%, marking the second-highest quarterly record in history. A total of 40 companies were listed in Q1, raising a total of HK$110.4 billion.
On the institutional side, Guotai Junan International pointed out that current Hong Kong stock valuations remain relatively low. In the medium to long term, technological innovation leading the development of new productive forces will serve as the new momentum for Hong Kong stocks to rally. CCB International also stated in its H2 2026 Hong Kong stock outlook that the market has shown increased resilience this year, with the bear-to-bull transition deepening further. The underlying investment logic is shifting from valuation recovery to valuation reassessment based on new productive forces and high-quality development.
Given this context, swapping traditional asset management equity for tech-oriented targets has become one of the pathways for institutions to optimize their investment portfolios.
Investment Logic: Adjusting Portfolio Structure via Asset Swaps
The core of this transaction lies in the adjustment of HK.AI CAPITAL's own asset structure. HK.AI CAPITAL is an investment holding company principally engaged in investing in listed and unlisted enterprises. As a traditional asset management platform, CSOP has long contributed stable equity investment returns to the company. By acquiring equity in GOFINTECH QUANT(00290.HK) via a share swap, HK.AI CAPITAL successfully extended its underlying asset allocation into frontier areas such as quantum technology.
Analyzing the target itself,GOFINTECH QUANTis a cross-border, cross-sector technological innovation investment platform. It holds Hong Kong Type 1, 4, 6, and 9 financial licenses, alongside cross-border business qualifications including QFII, CIBM, QDIE, QFLP, and Bond Connect. It has strategically positioned itself in cutting-edge fields such as fintech and digital assets, with its brand name and strategic positioning aligned with the direction of quantum technology.
From a transaction structure perspective, the settlement via consideration shares enabled HK.AI CAPITAL to recognize a significant one-off investment gain in the current period while retaining upside exposure toGOFINTECH QUANT's future growth. HK.AI CAPITAL stated in the announcement that the transaction helps enhance the diversification of its asset portfolio and its long-term return potential.
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