Hong Kong Technology Exploration (01137.HK): E-commerce Strategy Drives Popularity and Potential Challenges

Hong Kong Technology Exploration (01137.HK) is a consumer/technology Hong Kong stock [0], which became popular due to its HKTVmall expansion plan announced at the ‘Vision Day 2025’ event on November 11 [1]. The plan includes: HK$250 million in marketing investment in 2026, aiming to make 1 out of every 3 Hong Kong adults a HKTVmall user (2 million monthly users); launching a ‘3-hour delivery’ service covering over 100,000 products in the first quarter of 2026; optimizing the product matrix for elderly users, mainland tourists, and young people [1].
12月22日，该股开盘价HK$1.390，最高价HK$1.410，收盘价HK$1.390，成交量347,581股，与前一交易日相比波动不大[0]。52周内最高价HK$1.980，最低价HK$0.800，当前价格处于低位区间[0]。
Regarding market sentiment, investors are optimistic about its expansion and logistics efficiency improvement, but it should be noted that the company’s recent purchasing platform Everuts (operated for less than 3 years) was shut down on December 19, and the entry of mainland e-commerce platforms (Pinduoduo, JD.com, Taobao) into the Hong Kong market has intensified competition [1].

1. Delayed Market Reaction
   : Although the expansion plan was released in November, it still drove stock popularity in December, reflecting investors’ continuous evaluation of the long-term strategy [0].
2. Historical Business Risks
   : The company has failed in new business expansion many times in the past, so the execution ability of the new plan needs to be carefully considered [1].
3. Changing Competitive Landscape
   : The entry of mainland e-commerce platforms has changed the structure of the Hong Kong e-commerce market, and HKTVmall’s market share is facing a test [1].

• Risks
  : Intensified competition from mainland e-commerce platforms [1]; risk of new business expansion failure [1]; rationality of valuation under current loss status [0].
• Opportunities
  : Marketing investment and logistics upgrades are expected to improve user stickiness and market share [1]; multi-customer product strategy may cover a wider range of users [1].

Hong Kong Technology Exploration (01137.HK) has attracted market attention due to its e-commerce strategy plan, with slight stock price fluctuation on December 22. The company faces competition and historical business risks, but the expansion plan may bring long-term growth potential. Investors need to comprehensively evaluate its execution ability and changes in the market environment.