The Zhitong Finance App learned that Flying Cloud (06610) opened more than 5% higher in early trading. As of press release, it had risen 5.17% to HK$1.83, with a turnover of HK$17.7942 million.

According to the news, IDC predicts that China's AR/VR market is growing rapidly, and IDC expects the compound growth rate of the Chinese AR/VR market to reach 42.2% in 2021-2026. By 2026, China's total AR/VR investment is expected to account for 24.4% of the world, and the market volume will rise to second place in the world. CCS Insight also predicts that global AR/VR equipment shipments will grow from below 10 million units in 2022 to 11.4 million units in 2023, and shipments of XR equipment are expected to reach 67 million units in 2026.

Dongfangcai Securities said that Flying Cloud is an industry-leading AR/VR content service provider. Benefiting from the rapid development of AR/VR technology and increased scene penetration rate, its performance is expected to maintain high growth. It is also expected to achieve net profit of 3,48/551/871 million yuan in 2023-25, giving it an “increase in holdings” rating.