ESTUN's stock price fell sharply by 5.42% during intraday trading.
The decline was triggered by market concerns after a significant shareholder transferred a 5.27% stake, valued at approximately HK$84.58 million, from CMB International Securities to Merrill Lynch Far East. This move raised fears of a potential disposal of shares.
Furthermore, the stock had rallied significantly in prior sessions, fueled by humanoid robot sector optimism and a 674.64% year-over-year surge in first-quarter net profit. The substantial gains led to intensified profit-taking pressure. A broad weakness in the Industrial Machinery sector also contributed to the negative sentiment.
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