On September 28, MANYCORE TECH (00068.HK) fell 5.75% in regular trading to 7.505 HKD/share, with turnover of approximately 6.93 million HKD. The decline comes amid mounting investor concern over an imminent lock-up expiry that will release over 90% of the company's total outstanding shares — approximately 1.6 billion shares — into the open market in October.

The stock has been under sustained pressure since its Stock Connect inclusion on September 7, when it surged nearly 30% to 12.47 HKD. Since then, shares have fallen more than 40%, with southbound funds reducing their positions on September 25 by 942,500 shares. The company reported tepid first-half revenue growth of just 1.5% to RMB 405 million, with an operating loss of RMB 82.14 million. While adjusted net profit jumped 211% to RMB 55.4 million, this was driven primarily by cost optimization rather than top-line expansion. Roughly 97% of revenue remains tied to its legacy interior design tool Kujiale, heavily linked to China's subdued real estate market, while the high-profile spatial intelligence segment contributes only a minimal share of total revenue.

(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.)