GPIXEL Shares Plunge Over 20% to Record Low After 30 Million Locked-Up Shares Become Tradeable

Stock News10-20

GPIXEL (03277) briefly dropped more than 20% in early trading, hitting a low of HK$44.3, a record low since its listing. As of press time, the stock is down 15.09% at HK$47.42, with a turnover of HK$197 million.

On the news front, the six-month lock-up period for shares held by GPIXEL's cornerstone investors expired on October 16. On October 17, a total of 32.6452 million restricted shares of GPIXEL officially became eligible for trading. These shares represent approximately 50% of the global offering and about 7.3% of the total share capital of roughly 445 million shares.

In the first half of this year, GPIXEL achieved revenue of RMB 641 million, a year-on-year increase of 78.4%, and net profit attributable to shareholders of approximately RMB 250 million, up 197% year-on-year. Among this, industrial imaging revenue reached approximately RMB 530 million, a year-on-year increase of 101.7%, accounting for 82.8% of total revenue. This growth was primarily driven by rising demand for high-end industrial inspection as well as lithium battery and PCB testing.

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