Movement Alert｜BLOKS Intraday Rise 14.93% in Regular Trading, Shares rebound after chairman stake sale pressured sentiment

On October 23, BLOKS rose 14.93% in regular trading, trading at HK$62.8, with turnover of HK$198 million.

The clearest recent catalyst remains the market’s reassessment after the chairman’s block sale triggered a sharp sell-off in the prior session, while a same-day broker note said the disposal may pressure near-term investor sentiment rather than indicating a change in core operations.

Recent disclosures showed chairman and controlling shareholder Zhu Weisong, through Smart Bloks, sold about 3.849 million shares at HK$65.28 per share, representing about 1.56% of issued share capital and cashing out roughly HK$251 million. After the transaction, his overall stake fell to 52.03% from 53.59%, and the company said control remained intact. Earlier reports also noted BLOKS had dropped more than 21% in the previous session despite first-half revenue and profit both rising by around 30%, suggesting the latest move is a rebound following event-driven selling pressure.

(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.)