On June 23, Hans CNC (03200.HK) fell 4.25% in regular trading, trading at 186.1 HKD/share, with turnover of approximately 43.62 million HKD.

The decline follows a period of significant cumulative gains driven by a Citi research report and the ongoing PCB industry expansion wave. The stock had previously rallied sharply after Citi highlighted the company's ultra-fast laser drilling equipment supply to SLP manufacturers for 1.6T co-packaged optics applications, replacing Mitsubishi Electric CO2 solutions with 12-month lead times. Citi raised its H-share target price from 160 HKD to 252 HKD.

However, profit-taking pressure has intensified at elevated levels. HKEX disclosure data shows Morgan Stanley and Schroders PLC successively reduced positions, with combined transactions exceeding 47 million HKD. Additionally, the company recently clarified it does not directly manufacture drill bits or milling cutters, partially correcting market expectations regarding its consumables business. With the price-to-book ratio at approximately 1,104x, the high valuation leaves minimal margin for error, and short-term pullback risk continues to be absorbed.

(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.)