On September 24, XIZHI TECH-P fell 5.01% in regular trading to HK$296.0, with turnover of HK$27.32 million. The decline marks another session of selling pressure as the stock continues to retreat from its sharp 22.61% single-day surge on September 18.

The primary overhang centers on the approaching lock-up expiry for 20 cornerstone investors on October 28. These investors collectively hold approximately 8.97 million shares, representing 9.76% of the post-greenshoe total share capital, with an implied unlock market value exceeding HK$2.7 billion at current prices. The roster includes prominent names spanning sovereign wealth funds, global long-only managers, and major technology corporates. Market concerns over potential selling pressure from this cohort have continued to weigh on sentiment.

Meanwhile, short-term profit-taking remains incomplete following the mid-September rally driven by Goldman Sachs raising its high-speed optical module demand forecast. Notably, daily turnover has been shrinking in recent sessions, signaling weakening buying conviction and limited downside support at current levels.

(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.)