Movement Alert｜Manycore Tech Falls 5.77% in Regular Trading, Stock Hits New Post-IPO Low as Valuation Pressure Persists

Market Focus06-22

On June 22, Manycore Tech declined 5.77% in regular trading, trading at 13.4 HKD/share, with turnover of approximately 22.45 million HKD. The stock hit a new all-time low since its listing in April.

The continued sell-off reflects persistent valuation compression pressure. Despite a cumulative decline exceeding 70% from its peak of 48.5 HKD, the company's price-to-sales ratio remains at approximately 27x, far above the Hong Kong-listed application software sector average of around 8x. JP Morgan recently initiated coverage with a \"Neutral\" rating and a target price of 19 HKD, while Guotai Junan International maintains an \"Overweight\" rating with a target of 24.9 HKD.

Within the Application Software sector, individual stocks showed divergence. ASIAINFO TECH rose 14.65%, MININGLAMP-W gained 14.58%, while 51WORLD fell 0.69%, SENSETIME-W declined 2.03%, and HORIZONROBOT-W dropped 3.55%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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