On September 17, MANYCORE TECH rose 6.96% in regular trading, trading at HK$8.575/share, with turnover of HK$187 million. The rebound follows a sharp selloff earlier this month and is supported by multiple catalysts.
On the news front, DeepSeek launched a low-cost AI model, further driving down large-model API costs. The market expects application-layer companies like MANYCORE TECH to benefit from structural cost reductions upstream. The stock had previously dropped over 10% in a single session on September 10 when AI software names sold off broadly on the DeepSeek pricing news, creating short-term oversold recovery momentum.
Additionally, Guosheng Securities recently initiated coverage on the company with a Buy rating and a target price of HK$15.10, citing overseas expansion in South Korea and Southeast Asia — where the addressable paid-account base is estimated at approximately 290,000, representing a market opportunity of around US$174 million — as well as growth in its SpatialVerse spatial intelligence platform, whose first-half order value of RMB 6.8 million already exceeded the full-year total for the prior year.
(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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