On June 3, Guoxia Technology (02655.HK) rose 8.77% in regular trading, trading at 22.46 HKD/share, with trading volume of approximately 50.56 million HKD.
On the news front, the stock has been under sustained selling pressure since its May 22 announcement of a 200 million yuan commitment as a limited partner in the 5 billion yuan Kaibo Gongchuang New Energy Equity Investment Fund. Market participants have expressed concerns over the heavy capital burden under the company's asset-light business model. The stock declined from 25.3 HKD to a 52-week low of 19.90 HKD before today's technical rebound emerged.
The fund, with a first tranche of 1.6 billion yuan already secured, targets the upstream new energy battery supply chain, including cell manufacturing, battery materials, and energy storage equipment. While the company positions this as a strategic move to integrate upstream resources and complement its AI-driven energy storage solutions and EPC business, valuation concerns persist given the stock's dramatic retreat of over 71% from its April high of 76.8 HKD.
Within the Heavy Electrical Equipment sector, VPOWER GROUP rose 1.96%, GOLDWIND rose 0.74%, SH ELECTRIC rose 0.71%, HARBIN ELECTRIC was flat, and DONGFANG ELECTRIC fell 1.48%.
(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.)
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