On July 22, Chaozhou Three-Circle (06951.HK) fell 3.39% in regular trading, trading at HK$98.1/share, with turnover of approximately HK$21.35 million.
The decline follows the previous trading day's surge of over 11%, which was driven by the company's profit alert forecasting 45%-65% growth in first-half net profit and the announcement of an A-share buyback plan of up to RMB 900 million. Today's pullback reflects profit-taking as investors locked in gains from the sharp rally.
Adding to the selling pressure, Hong Kong Stock Exchange data shows JPMorgan Chase reduced its holdings by 362,200 shares on July 16 at approximately HK$99.48 per share, lowering its stake from 10.29% to 9.85%. This institutional outflow weighed on short-term sentiment. Since listing on July 9 at an offer price of HK$100.30, the stock has continued to trade around its IPO price level, with new-listing selling pressure yet to be fully absorbed.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments