Movement Alert｜Kingwai Tindi Falls 8.2% in Regular Trading, Post-Novax AI Launch Selloff Continues

Market Focus07-07

On July 7, Kingwai Tindi (02477.HK) declined 8.2% in regular trading, trading at HKD 0.285/share, with turnover of approximately HKD 76.66 million. The stock extended its sustained pullback since late June.

On the news front, the company announced the official launch of its AI and computing power service platform Novax AI on June 29, alongside a strategic partnership with Alibaba Cloud International. The news initially drove the stock to surge over 30% intraday to HKD 0.6 on June 30, but shares reversed sharply the same day and have declined continuously since. Additionally, major shareholder Kingwai Tindi Group previously sold 576 million shares at HKD 0.3445 per share, reducing its stake to approximately 2.2% and ceasing to be a substantial shareholder. While the disposal has been completed, market skepticism over the company's ability to materially commercialize its AI business persists, with shares continuing to retrace prior gains under sustained selling pressure.

(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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