Stock Track | Zhida Tech Plummets 6.05% Intraday as Profit-Taking Continues After Sustained Rally

Stock Track05-21

ZHIDA TECH-NEW (02650) experienced a significant intraday decline of 6.05%, continuing a correction trend that has extended for multiple trading sessions.

The stock's recent downturn follows a period of substantial gains driven by a series of positive developments, including a strategic cooperation agreement with Shanghai Qiyuan Xindongli Technology covering EV trucks, mining machinery, battery swap stations, and energy storage equipment in overseas markets. The company also launched new home-use automatic charging robots and unmanned public charging solutions, was included in key market indices, and reported strong 71.3% year-over-year growth in charging pile sales at its Thailand subsidiary with new contracts signed with global automotive brands.

Analysts attribute the current pullback to profit-taking pressure as these positive catalysts become gradually priced into the stock's valuation, marking an extended correction phase after the previous rally.

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