Stock Track | DEEPEXI TECH Soars 5.09% Intraday as Recovery Rally Continues After Discounted Placement Selloff

Stock Track05-27

DEEPEXI TECH's stock soared 5.09% during intraday trading on Wednesday, continuing its upward momentum.

The surge represents an extension of the stock's recovery rally following a sharp selloff triggered by the company's recent announcement of a discounted share placement. DEEPEXI TECH had announced plans to place 7.942 million new H shares at a significant discount, which initially caused the stock to plunge over 14% intraday.

After concentrated selling pressure was absorbed in prior sessions, the stock has been staging a sustained recovery above the placement price. The placement raised approximately HK$395 million in net proceeds, which are earmarked for overseas market expansion and localization (70%), strategic investments and acquisitions (20%), and working capital (10%), providing medium-to-long-term growth support for the company.

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