Tiangong International traded sharply higher during the session, initially surging on progress in its titanium alloy project. The stock peaked at HKD 3.98 in the morning session (up 8.7% from the previous close), marking its second-highest level in 52 weeks, before paring gains to close at HKD 3.85, up 5.19%, on turnover of HKD 127.6 million — significantly above recent daily averages. The catalyst was the project's advancement, which refocused attention on the company's high-end materials segment. Fundamentally, Q4 2025 revenue rose 7.5% YoY while net profit grew 17.9% YoY to HKD 109 million, and operating profit more than doubled (+122.9% YoY), with a net margin of 8.3%. The stock is still 15.2% off its 52-week high of HKD 4.54, but has gained 21.1% year-to-date and stays above both its MA20 (HKD 3.675) and MA60 (HKD 3.58). UBS initiated coverage with a Buy and target price of HKD 5.6. However, the afternoon session saw fading momentum, with the price closing below the day's average price of HKD 3.867.