Movement Alert｜Huaqin Technology Falls 3.39% in Regular Trading, JPMorgan Reduction Compounds Ongoing Institutional Selling Pressure

Market Focus07-07 10:20

On July 7, Huaqin Technology (03296.HK) fell 3.39% in regular trading, trading at 60.0 HKD/share, with turnover of approximately 19.77 million HKD.

On the news front, JPMorgan Chase reduced its holdings in the company's H shares by 61,300 shares on June 25 at approximately 70.34 HKD per share, lowering its stake to 14.99%. This follows Franklin Fund's same-day reduction of 474,300 shares at approximately 70.63 HKD per share, totaling around 33.5 million HKD. Additionally, the company's employee stock platforms disclosed a reduction plan of up to 0.27% of total share capital.

Meanwhile, the company's executive share increase plan has been completed, with a cumulative purchase of 378,600 shares totaling approximately 25.58 million RMB, reaching only the lower limit of the originally announced plan of 24 million RMB. Market consensus expects Q2 revenue to decline 5.1% year-over-year to 46.44 billion RMB, though net profit is projected to grow 3.5%. Multiple headwinds from institutional exits and tepid insider support continue to weigh on sentiment.

(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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