The Zhitong Finance App learned that Wall Nuclear Materials (09981) rose by more than 3%. As of press release, it had risen 3.4% to HK$7.9, with a turnover of HK$6.802 million.
According to the news, recently, Wall Nuclear Materials announced its third quarter results. Huatai Securities indicated that the company 9M26 achieved revenue of 7.441 billion yuan, +22.34% year-on-year; net profit to mother was 887 million yuan, +6.77% year-on-year. Looking at a single quarter, 3Q26 achieved revenue of 2,788 billion yuan, +30.46% YoY and +6.37% month-on-month; net profit to mother was 311 million yuan, +17.84% YoY and -7.33% YoY. The bank believes that the month-on-month decline in net profit due to the 3Q26 net profit decline was mainly due to rising raw material prices and the unsaturated capacity utilization rate of high-speed communication lines, which put pressure on gross margin.
However, Huatai Securities said that with the evolution of Nvidia's Blackwell/Rubin architecture, copper connections still have comparative advantages such as cost performance and low power consumption in short-range interconnection scenarios within cabinets. Since the GB200 NVL72 cabinet, Nvidia has used approximately 5,000 copper cables for scale-up interconnection within the cabinet, and the Vera Rubin NVL72 cabinet continues this application. As a leading domestic high-speed communication line enterprise, the company's production process and equipment scale are in the first tier of the industry, and its downstream customers include Amphenol, Morse, Tyco, Hollis, and Lixun, leading companies in the copper connection industry. The bank expects that with the introduction of customer projects and the increase in the utilization rate of existing production capacity, the dilution of fixed costs is expected to improve the profitability of the high-speed communication line business.