On September 23, XIZHI TECH-P fell 5.29% in regular trading, trading at HK$304.0 per share, with turnover of approximately HK$101 million.

The decline was primarily driven by growing market anxiety over the approaching lock-up expiry of cornerstone investors. On October 28, shares held by 20 cornerstone investors totaling approximately 8.97 million shares will become eligible for sale, representing 9.76% of total issued share capital post-greenshoe. Based on recent trading prices, the unlocked tranche carries a market value of roughly HK$2.9 billion. The concentrated release of previously restricted shares into an already thinly traded stock has raised concerns about potential selling pressure.

Adding to the downside momentum, the stock has experienced extreme volatility in recent sessions, surging 22.61% on September 18 before retreating in consecutive sessions. Short-term profit-taking has accelerated as earlier catalysts — including Goldman Sachs raising its optical module demand forecasts and the company showcasing its CPO and NPO solutions at major industry events — appear to have been fully priced in.

(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.)