Yong Rong Bets Big on Hong Kong’s SuperX AI

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Yong Rong (HK) Asset Management Ltd, a fund whose name suggests it might be run by a very focused squirrel with a calculator, has taken a 32.6% bite out of its U.S. equity assets to purchase 1.72 million shares of SuperX AI Technology Limited (SUPX +2.52%). This is a bet that would make a Victorian bookmaker faint, and for good reason: the company in question operates in Hong Kong, offers interior design services, and is now apparently dabbling in AI infrastructure. (It’s a bit like a teacup orbiting Saturn while trying to convince the universe it’s a spaceship.)

The $159.34 million stake, disclosed in a November 3, 2025 SEC filing, is a signal as loud as a foghorn in a vacuum. For context, that’s roughly the cost of buying every chair in Hong Kong twice over, assuming chairs still exist in 2025. The fund’s top five holdings now read like a menu from a high-stakes poker game: SUPX, NVDA, ETHA, GOOGL, and ETHU. One wonders if the fund’s portfolio manager spends their evenings staring at a dartboard covered in stock tickers, muttering, “Well, it’s either this or another night of existential dread.”

Metric Value
Price (as of market close 2025-11-04) $52.62
Market Capitalization $1.17 billion
Revenue (TTM) $2.90 million
Net Income (TTM) $-854,927.00

SuperX AI Technology Limited, a company that might one day be remembered for its interior design work or its ill-advised foray into AI (or neither), is currently bleeding red ink at a rate that would make a sultan weep. Yet here we are, with a fund betting its future on a business that hasn’t turned a profit in years. Is this a case of institutional optimism, or is someone playing a very long con with a calculator and a smiley face emoji? (The latter seems likely, given the presence of “AI” in the name.)

The company’s pivot to AI infrastructure is the sort of ambition that could fill a thousand PowerPoint slides with buzzwords and zero actionable plans. It’s the financial equivalent of painting your goldfish with glitter and declaring it the next Picasso. For now, the real money lies in fit-out contracts and maintenance services-services that, let’s be honest, are unlikely to be disrupted by quantum computing any time soon. Unless, of course, quantum computing is now a required feature in modern kitchens. (We’re all waiting for that patent.)

As a dividend hunter, one must ask: where are the dividends? SuperX’s current trajectory suggests they’re as rare as a polite response from a chatbot. But perhaps this is a masterstroke. By investing in a company that’s simultaneously a design firm and a tech startup, Yong Rong might be hedging against the collapse of the entire financial system. Or maybe it’s just a very expensive way to say, “I told you so.” Either way, the fund’s bet is a reminder that in the grand cosmic lottery of investing, sometimes the prize is just surviving the next earnings call.

SuperX’s journey from interior decorator to AI pioneer is the sort of metamorphosis that could inspire a trilogy. But until its balance sheet resembles something other than a cautionary tale, investors might want to treat this trade like a trip to the moon: thrilling, but not advisable without a spacesuit. And a contingency plan. And maybe a lawyer.

Glossary: Asset Management (the art of making money manage money, often with mixed results); AUM (Assets Under Management, or the money you give to someone who then gives it to someone else); 13F Filing (a document that reveals where institutional investors are hiding their bets, assuming they’re not hiding them in a literal cave).

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2025-11-06 05:45