On September 24, ZJ INNOLIGHT fell 3.28% in regular trading to HKD 1,151.0 per share, with turnover of HKD 592 million, as persistent foreign institutional divestment and broader computing hardware sector weakness continued to weigh on sentiment.

On the news front, foreign institutional selling pressure remains a key overhang. Aspex Management sold shares on September 18 via on-exchange transactions, reducing its long position from 5.59% to 4.99%, breaching the critical 5% disclosure threshold. Earlier, Morgan Stanley also trimmed its H-share stake from 5.08% to 4.32%. Although the company executed a massive single-day buyback on September 23 — repurchasing approximately 857,000 A-shares at a cost of roughly RMB 795 million — the institutional de-risking signals have continued to suppress market sentiment. The computing hardware sector has been under sustained pressure, with ZJ INNOLIGHT and other leading names extending their corrective trend. Notably, Qunyi Securities recently raised its target price to RMB 1,200 with an overweight rating, but this has yet to offset the near-term headwinds from institutional outflows.

(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.)