Analysis of C-LINK SQ (01463.HK) Hot List Performance and Financial Challenges

C-LINK SQ (stock code: 01463.HK) is a diversified service company listed on the Hong Kong Stock Exchange, with businesses covering outsourced document management and software solutions in Malaysia and Singapore, insurance risk analysis services and medical equipment distribution in China[0]. As of November 21, 2025, the company’s share price was HK$0.250, a 52.83% drop from its 52-week high[0], with a 52-week trading range of HK$0.151-0.475[0]. Financially, the company expects a net loss of 21 million MYR for FY2025, mainly due to a MYR 22.4 million goodwill impairment that widened the loss[0][5]. Although the debt-to-equity ratio is only 2.3%, indicating low financial leverage[0], continuous losses and weak share prices reflect insufficient investor confidence[0][3].

1. Contrast Between Hot List Presence and Fundamentals
   : C-LINK SQ appeared on the Hong Kong Stock Exchange Surge List[7], but its fundamental performance is poor; this contrast may stem from short-term trading fluctuations rather than long-term value support[0].
2. Significant Impact of Goodwill Impairment
   : The large goodwill impairment (MYR 22.4 million) is the main driver of the FY2025 loss, suggesting that past acquisitions did not meet expected results[0][5].
3. Regional Business Pressure
   : The company’s diversified businesses in Malaysia, Singapore, and China are all facing challenges; follow-up business adjustment strategies need to be monitored[0][4].

:

• Continuous net losses may further weaken the financial position[0][5]
• The share price has dropped more than 50% in 52 weeks, with high investment risk[0][1]
• Goodwill impairment may indicate future asset quality issues[0][5]

:

• The low debt ratio (2.3%) provides some financial flexibility[0]
• If it effectively addresses goodwill issues and optimizes its business, long-term performance may improve[0][3]

: Financial risks (continuous losses, goodwill impairment) are the highest priority currently; follow-up financial disclosures need to be closely monitored[0][5].

C-LINK SQ (01463.HK) recently appeared on the Hong Kong Stock Exchange Surge List, but its fundamentals face significant challenges, including continuous net losses, large goodwill impairment, and sharp share price declines. Although the debt ratio is low, the issue of insufficient investor confidence is prominent. Market participants should pay attention to the company’s financial improvement measures and business adjustment strategies to assess long-term investment value[0][3][5].