On June 30, Delton Technology (01989.HK) fell 3.51% in regular trading, trading at HK$195.0/share, with turnover of approximately HK$27.74 million.
The decline comes after the company issued an abnormal trading announcement on June 28, stating that its A-shares had accumulated over 20% in gains across two consecutive trading days on June 25 and 26, triggering a stock trading abnormality alert. The company confirmed no major changes in operations or business environment and reminded investors to exercise caution.
The prior surge was driven by multiple catalysts including a proposed RMB 3.6 billion convertible bond issuance with approximately 79% of proceeds directed toward AI computing-related capacity, a RMB 6 billion Dongguan smart manufacturing headquarters investment, and sustained strength in the AI computing PCB sector. Following the sharp short-term rally, profit-taking pressure has become evident. Notably, Jefferies recently raised its price target on the stock to HK$250 from HK$205, maintaining a Buy rating, while China Fortune Fund increased its stake to 6.43%.
(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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