Movement Alert｜Hua Qin Technology Falls 4.58% in Regular Trading, Profit-Taking Continues After Prior 21% Surge as Hardware Sector Weakens

Market Focus10:04

On June 8, Hua Qin Technology fell 4.58% in regular trading, trading at 73.65 HKD/share, with trading volume of 48.41 million HKD.

On the news front, the stock had surged over 21% intraday on June 1 to an all-time high following the NVIDIA GTC Taipei conference catalyst and AI computing infrastructure tailwinds. Since June 3, the stock has entered a multi-day correction as massive short-term accumulated gains triggered sustained profit-taking pressure.

Meanwhile, the Technology Hardware sector weakened broadly, with Longcheer down 4.02%, Xiaomi down 1.94%, and Legend Holdings down 1.85%, creating sector-wide downward momentum. Goldman Sachs previously initiated coverage on the H-share with a Buy rating and a target price of 127.76 HKD, citing a projected 32% revenue CAGR from AI data center growth and product mix upgrades supporting margin improvement, suggesting the medium-to-long-term fundamental thesis remains intact.

(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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