On September 14, VGT (02476.HK) fell 3.65% in regular trading, trading at approximately 192.0 HKD/share, with turnover of approximately 64.94 million HKD, extending its recent downtrend as multiple headwinds continue to weigh on the stock.
On the fundamental side, the company's interim report revealed that Q2 non-GAAP net profit declined 5.28% year-over-year, while H1 gross margin contracted 3 percentage points to 33.2%. Notably, inventory surged 119.5% YoY to 5.89 billion yuan, far outpacing revenue growth of 28.8%, fueling market concerns over near-term profitability and inventory digestion risks. Additionally, Bank of America significantly cut its target price from 455 yuan to 367 yuan, citing a deteriorating competitive landscape in the PCB supply chain. A large block transfer of 1.8256 million shares worth approximately 690 million HKD from Citibank was also recorded, adding to bearish sentiment. The controlling shareholder's recent equity transfer to his spouse has further drawn market scrutiny.
(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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