Movement Alert｜Huaqin Technology Falls 4.24% in Regular Trading, Post-Buyback Rally Fades as Institutional Selling Pressure Persists

Market Focus07-02

On July 2, Huaqin Technology fell 4.24% in regular trading, trading at HK$66.15/share, with turnover of HK$26.12 million. The decline follows a sharp pullback after the prior session's buyback-driven rally fully priced in.

The company previously announced that its directors and senior executives had completed their share buyback plan, accumulating 378,600 shares for a total of approximately RMB 25.58 million, reaching only the lower limit of the planned range. On June 30, the stock surged over 9% on the H-share market upon disclosure of the buyback. With the positive catalyst now absorbed, the stock has retreated.

Meanwhile, selling pressure from institutions remains. Fullgoal Fund reduced its H-share holdings by 474,300 shares on June 25 at approximately HK$70.63 per share. Additionally, the company's employee shareholding platforms previously disclosed plans to reduce holdings by up to 0.27% of total share capital, adding further overhang to the stock.

(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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