Movement Alert｜Lingyi iTech Falls 3.42% in Regular Trading, Electronic Components Sector Weakness and Post-IPO Break Pressure Persist

Market Focus07-07

On July 7, Lingyi iTech (01688.HK) fell 3.42% in regular trading, trading at 9.61 HKD/share, with turnover of 46.41 million HKD.

On the news front, the electronic components sector continues its downward adjustment. Reports that Samsung Electronics and SK Hynix have demanded upstream substrate manufacturers to cut prices in the second half continue to weigh on industry sentiment, with selling pressure yet to subside. Peer stocks including Kingboard Holdings fell 2.97% and VGT declined 0.51%.

Additionally, the company's H shares have remained below their IPO price of 10.18 HKD since listing on June 26. The stock suffered a steep drop of approximately 14.81% in the prior trading session, driven by concerns over a 30.7% year-over-year decline in Q1 net profit to 392 million yuan amid surging R&D expenses and foreign exchange losses. Despite the company's cumulative buyback of 22.20 million A-shares totaling 311 million yuan through end-June, support has proven limited against the broader sector downturn.

(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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