Analysis of C-LINK SQ (01463.HK) Surge on Hong Kong East Money Hot List

C-LINK SQ (01463.HK), a Malaysian company engaged in data document management, software, and medical equipment distribution [0], appeared on the East Money App surge list for the Hong Kong market on Dec 22, 2025 (UTC+8) according to Tushare dc_hot data [0]. Market cap data from moomoo indicates the company has a market capitalization of approximately 732 million HKD [2]. Its 2025 H1 financial performance, reported by longbridge.com, shows a revenue increase of 11.86% year-on-year but a net loss of 165 million RM [1].

Historical data reveals the stock previously appeared on the East Money surge list on Dec 11, 2025, with a price of 0.25 HKD, below-average trading volume, and no clear news catalyst [0]. Recent daily price data (Dec 15-22, 2025) shows a stable price of 0.26 HKD but zero reported trading volume, which is likely an anomaly from the data provider [0]. No significant news announcements related to the company were identified between Dec 21-22, 2025 [0].

The stock’s repeat appearance on the surge list without clear fundamental catalysts or recent news suggests the current surge may be driven by momentum trading following its previous hot list exposure [0]. The lack of substantial volume data (likely due to data provider issues) complicates the assessment of trading activity intensity [0].

• Risk
  : 1) No clear news or fundamental drivers to support the surge, increasing potential for short-term volatility [0]; 2) Persistent net losses in 2025 H1 highlight financial challenges [1]; 3) Unreliable volume data undermines trading activity analysis [0].
• Opportunity
  : For momentum traders, the stock’s hot list status may present short-term trading opportunities, but this carries high uncertainty due to the absence of concrete catalysts [0].

C-LINK SQ (01463.HK) appeared on the Hong Kong East Money App surge list on Dec 22, 2025, with no clear recent news or fundamental catalysts. The company reported revenue growth but net losses in 2025 H1, and recent volume data appears anomalous. The surge likely stems from momentum trading following a previous hot list appearance on Dec 11, 2025.