Analysis Report on Hong Kong Hot Stock C-LINK SQ (01463.HK)

C-LINK SQ (01463.HK) is a healthcare enterprise listed on the Hong Kong Stock Exchange on March 27, 2020, with core businesses including internet hospitals and physical clinic services [0]. In terms of financial performance, the company’s losses have continued to expand: it lost 21 million MYR in 2024, and further lost 165-167 million MYR in H1 2025, mainly due to approximately 22.4 million MYR in goodwill impairment in its core business segment [0]. Technically, a death cross pattern (10-day moving average breaking below the 20-day moving average) appeared on November 27, 2025, indicating strong bearish sentiment in the market [0]; recent stock price performance shows short-term volatility characteristics, with 3-day and 5-day gains both at 2.000%, but a 10-day drop of 3.774% [0].

Although the stock is on the Hong Kong Stock Surge List of the East Money App, in-depth analysis shows that its popularity may stem from short-term price fluctuations rather than fundamental improvement [0]. The company’s continuous losses and expanding loss scale, coupled with the impact of goodwill impairment in core businesses, reflect that its business development faces significant challenges [0]. The technical death cross pattern resonates with fundamental negative factors, and market sentiment remains negative due to continuous profit warnings [0].

Main risks include: 1) Continuous loss risk: The company’s performance shows no signs of improvement and losses are expanding [0]; 2) Goodwill impairment risk: Goodwill impairment has occurred in core business segments, and further provisioning may be made in the future [0]; 3) Liquidity risk: Deteriorating fundamentals and negative market sentiment may affect stock liquidity [0]. No obvious positive catalysts have been identified so far [0].

C-LINK SQ (01463.HK) is a listed company in the Hong Kong Stock Exchange’s healthcare sector, with continuously deteriorating financial performance, bearish technical signals, and negative market sentiment. The stock’s appearance on the hot list may be related to short-term price fluctuations; investors need to pay attention to risks such as continuous losses, goodwill impairment, and liquidity issues.