On May 28, UISEE Technology (01511.HK) fell 5.39% in regular trading, trading at 73.6 HKD/share, with trading volume of HKD 9.31 million. The decline comes after the stock surged over 13% in the previous session to reach an all-time high of 74.2 HKD, triggering short-term profit-taking pressure.
The prior-day rally was driven by the company's announcement regarding the latest progress of its strategic cooperation with Xinjiang Airport Group, having successfully won orders for 10 unmanned buses and 6 unmanned delivery vehicles. Since the first fleet of UISEE unmanned towing vehicles began operations at Urumqi Tianshan International Airport, over 60 unmanned vehicles have accumulated more than 1 million kilometers in airport operations. The strategic cooperation agreement with Xinjiang Airport Group was signed in March.
UISEE Technology listed on the HKEX on May 20 at an IPO price of 60.3 HKD. After initially breaking below its IPO price with a first-day decline exceeding 13%, the stock recovered to surpass the IPO level on May 26. Despite the current pullback, shares remain approximately 22% above the IPO price.
UISEE Technology is a China-based company primarily engaged in providing L4 autonomous driving solutions. The company focuses on commercial vehicles in closed scenarios such as airports and industrial parks, with market shares of 90.5% and over 60% respectively in those segments.
(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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