On June 26, Biren Technology fell 3.24% in regular trading, trading at 65.35 HKD/share, with turnover of HKD 178 million. The decline came as concentrated profit-taking pressure emerged after the stock surged nearly 18% in the prior session to hit a record high of 70.75 HKD.
The broader semiconductor sector experienced a synchronized pullback, with Montage Technology down 6.54%, Iluvatar CoreX down 5.93%, GigaDevice down 5.14%, SMIC down 3.37%, and Hua Hong Grace down 1.35%, amplifying the corrective sentiment across the industry.
Additionally, the company had previously submitted an application to the China Securities Regulatory Commission to convert approximately 868 million domestically unlisted shares into H-shares on a one-for-one basis. The potential substantial increase in tradable supply continues to weigh on market sentiment, as the application has not yet been accepted by the regulator and implementation details remain unfinalized.
(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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