Movement Alert｜MANYCORE TECH falls 5.49% at open, recent physical AI and lock-up catalysts fade without fresh follow-through

Market Focus10-30

On October 30, MANYCORE TECH fell 5.49% at open, trading at HK$3.1, with turnover of HK$2.8458 million.

Recent disclosed drivers behind the stock’s earlier strength were continued market attention on physical AI and management’s voluntary 12-month extension of share lock-up undertakings, but the latest market update indicated no new incremental catalyst had emerged, contributing to a pullback after the prior rally.

Earlier disclosures showed founders and the CFO extended or entered lock-up undertakings covering 483.2 million shares, equal to about 27.99% of issued share capital, through October 16, 2027. The company had also emphasized execution around computing power, data, and model commercialization. Fundamentally, first-half AI new applications and new product revenue grew more than 177% year over year, while adjusted net profit reached RMB55.42 million, up 211%.

(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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