Movement Alert｜Xunce Falls 3.24% in Regular Trading, Executive Director Resignation Compounds Ongoing Profit-Taking Pressure

Market Focus06-05

On June 5, Xunce fell 3.24% in regular trading, trading at 182.7 HKD/share, with trading volume of 33.64 million HKD.

On the news front, the company announced that Executive Director Jiang Chunfei has resigned due to personal career planning, effective after the conclusion of the annual general meeting on June 26. The company also proposed appointing He Jinglu as non-executive director and adopting a share award plan. The management change added to existing selling pressure as the stock continues to retrace from extraordinary gains.

Xunce previously surged nearly 10-fold over approximately 120 trading days, rising from 38 HKD to 380 HKD, earning it the market label of the Token First Stock. Since releasing its TokenONE operating system on May 25, short-term profit-taking has persisted. With a forward P/E ratio of approximately 485x and a price-to-book ratio exceeding 28x, high valuation digestion pressure continues to weigh on the share price. Within the IT Consulting sector, China Soft International fell 1.68% and LX Technology declined 0.66%, reflecting broader sector weakness.

(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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