SDMC (Huaxida) stock experienced a sharp decline, plummeting 6.72% during the intraday trading session. The move follows the stock's recent and highly successful debut on the Hong Kong Stock Exchange.
The decline is attributed to investors locking in profits after the stock's dramatic first-day performance, where it surged nearly 87% from its IPO price. Sentiment was further weighed down by the company's financials, as its operating cash flow turned negative in the fiscal year 2025 after being positive the previous year.
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