On September 21, XIZHI TECH-P fell 5.01% in regular trading, trading at HK$306.4 per share, with turnover of HK$116 million. The decline came one trading day after the stock surged 22.61%, with accumulated short-term gains triggering profit-taking.

On the news front, approximately 8.97 million shares held by 20 cornerstone investors are set to be unlocked on October 28. Based on the previous trading day's closing price of HK$323.2, the unlocked shares represent a market value of approximately HK$2.9 billion, accounting for 9.76% of the total share capital after the over-allotment option was exercised. Market concerns over potential selling pressure from the lock-up expiry have begun to weigh on sentiment ahead of the event.

Additionally, prior positive catalysts — including Goldman Sachs raising its demand forecasts for 800G-and-above optical modules by 39% and 36% for the years ahead to 144 million and 171 million units respectively — are seen as largely priced in following the recent rally. The company reported first-half revenue of RMB 79.8 million, up 284% year-over-year, with a gross margin of 65.8%, driven primarily by Scale-up OCS commercial deployments in its optical interconnect segment.

(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.)