On July 9, Longpan Technology (02465.HK) fell 5.47% in regular trading to HK$10.55, with turnover of HK$35.18 million, extending the prior session's 7.26% decline.
The drop follows the company's July 8 evening announcement of a 2026 Restricted Stock Incentive Plan, proposing to grant up to 7.76 million restricted A-shares to 418 employees at RMB 14.15 per share, representing 0.98% of total share capital. The plan, approved unanimously by all 10 board directors, still requires shareholder approval. This compounds existing dilution pressure from the 15 million new H-share placement completed on June 22 at HK$13.09 per share, which expanded H-share capital by 12.5%.
Broader sector headwinds further weigh on the stock, as lithium carbonate futures have retreated from RMB 200,000 per ton in May to below RMB 160,000 per ton, triggering a broad lithium battery concept selloff across Hong Kong-listed peers including Tianqi Lithium and Ganfeng Lithium.
(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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