Hong Kong Technology Exploration (01137.HK) Popular Stock Analysis: Director Change and Business Challenges

The main driver for Hong Kong Technology Exploration (01137.HK) to become popular in Hong Kong stocks is the

[1][2][3]. The company announced on December 18, 2025, the appointment of Chu Kwong Yeung as an independent non-executive director (effective January 1, 2026). Chu Kwong Yeung previously served as Executive Vice Chairman and Group Chief Executive Officer of Hong Kong Broadband (01310.HK), with rich management experience in the technology and telecommunications industries. The market expects this appointment to help strengthen corporate governance and supervision, and bring potential strategic support to its e-commerce and technology businesses (such as its HKTVmall platform).

As of December 24, 2025, the stock closed at HK$1.410, up 0.71% from HK$1.40 on the 23rd, showing a slight upward trend in the past two days [0][4]. In terms of trading volume, the single-day volume on December 24 was 260,800 shares, with a turnover of approximately HK$363,200 and a turnover rate of only 0.03%, indicating relatively light trading overall [0]. The stock price is currently in the lower middle part of the 52-week range (HK$0.800-HK$1.980), with a recent support level of about HK$1.38 (the lowest on December 24) and a resistance level possibly around HK$1.45 [0].

The company faces short-term business challenges: the GMV of its e-commerce business in November decreased by approximately 7.4% year-on-year and 7.6% sequentially, reflecting growth pressure on the e-commerce business [5]. Market sentiment shows

: on one hand, the appointment of Chu Kwong Yeung is regarded as a governance and strategic positive, increasing investors’ attention to the long-term prospects; on the other hand, the GMV decline and loss status (TTM P/E ratio of -17.85 times [0]) have suppressed short-term optimism. The stock entered the Hong Kong Stock Surge List on East Money App, reflecting an increase in attention from individual investors.

1. Potential synergy between governance and strategy
   : Chu Kwong Yeung’s industry background connection with the founder of Hong Kong Technology Exploration (they worked together at Hong Kong Broadband) may bring more targeted strategic guidance to the company, especially in the integration of technology and e-commerce businesses.
2. Conditional valuation repair
   : Although the stock price is in the lower middle part of the 52-week range, the loss status and GMV decline may limit the space for valuation repair. It is necessary to pay attention to subsequent signs of business improvement and actual strategic changes brought by the new director.
3. Short-term nature of investor structure
   : The combination of low turnover rate and hot list effect may reflect that short-term individual investor attention dominates, lacking sustained promotion from institutional funds.

1. Business growth pressure
   : The GMV decline in November indicates that the e-commerce business faces competition or market demand challenges. If subsequent monthly performance does not improve, it may continue to suppress the stock price.
2. Loss uncertainty
   : The TTM P/E ratio is negative, the company’s profit prospects are unclear, and the long-term investment value needs to be evaluated carefully.
3. Liquidity risk
   : Low turnover rate makes the stock price vulnerable to short-term funds, with high volatility risk.

1. Governance optimization expectation
   : The new director’s industry experience may promote the company’s strategic adjustment. If it can effectively improve operational efficiency or expand business boundaries, it is expected to release long-term value.
2. Potential elasticity at the valuation bottom
   : If there are signs of business improvement, the current stock price is in the lower middle part of the 52-week range, with certain valuation repair elasticity.

• Company code: 01137.HK, Name: Hong Kong Technology Exploration, Sector: E-commerce/Technology [0].
• Popular catalyst: Appointment of Chu Kwong Yeung as independent non-executive director (effective January 1, 2026) [1][2][3].
• As of December 24, stock price HK$1.410, slight upward trend in past two days, light trading [0][4].
• Core challenges: GMV decline in November (7.4% YoY/7.6% MoM), loss status [5][0].
• Key price levels: Support at HK$1.38, resistance at HK$1.45 [0].

Note: The above analysis is based on existing public information. The market environment and company business may change at any time, and continuous evaluation should be combined with subsequent developments.