Movement Alert｜Haizhi Technology Group Falls 6.25% in Regular Trading, Profit-Taking Pressure Persists After Consecutive Post-Connect Surges

Market Focus06-12

On June 12, Haizhi Technology Group (02706) declined 6.25% in regular trading, trading at HK$61.15, with turnover of HK$72.57 million. The stock continues to face selling pressure following its sharp rally after being officially included in the Stock Connect eligible list on June 8.

Since the inclusion took effect, the stock surged over 22% on June 9 and over 12% on June 10, accumulating significant short-term gains. However, profit-taking emerged on June 11 with a decline of over 5%, and selling pressure has extended into today's session. Market institutions had previously cautioned investors to temporarily avoid the crowded AI hard-tech sector, while rising Fed rate hike expectations have weighed on Hong Kong equities broadly, strengthening high-level profit-taking sentiment among traders.

On the institutional front, BOCI and Guotai Haitong previously issued bullish ratings on the company, with target prices ranging from HK$80.81 to HK$97.47. The company holds a 53.3% market share in graph-model fusion technology, positioning it as a scarce AI infrastructure play within Stock Connect.

(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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