Movement Alert｜Topu CNC Falls 5.1% in Regular Trading, Over-Allotment Shares Begin Trading Today Amid Continued New Listing Selling Pressure

On June 17, Topu CNC fell 5.1% in regular trading, trading at 29.5 HKD/share, with turnover of approximately HKD 4.505 million.

On the news front, the company's over-allotment shares officially began trading on the Hong Kong Stock Exchange today. On June 14, the overall coordinator fully exercised the over-allotment option involving 9,799,500 H shares, representing approximately 15% of the initial offering shares, issued at the IPO price of HKD 26.39 per share. The exercise raised additional net proceeds of approximately HKD 248.2 million. Simultaneously, the stabilization price period formally concluded on the same date, with the stabilization price operator having not purchased any H shares in the market during the period.

The increased share supply from the over-allotment, combined with the removal of stabilization price support and persistent selling pressure across the Hong Kong new listing sector, has weighed on the stock. Since its May 20 listing — when shares surged approximately 80% on the first day — the stock has undergone multiple rounds of correction.

Topu CNC is a Chinese company principally engaged in the R&D, design, production, and sale of intelligent manufacturing equipment, primarily five-axis CNC machine tools. Its products are applied in aerospace, automotive, energy, medical devices, and shipbuilding industries, holding a leading position in China's aerospace five-axis CNC machine tool market.

(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.)