On May 28, Huaqin Technology fell 3.01% in regular trading, trading at 80.55 HKD/share, with trading volume of approximately 10.75 million HKD.
On the news front, the Hong Kong Stock Exchange disclosed that JPMorgan reduced its holdings by 68,400 H-shares on May 20 at approximately 107.47 HKD per share, totaling around 7.35 million HKD, lowering its stake to 15.96%. Additionally, the company fully exercised its overallotment option on May 26, issuing 8,782,200 new H-shares at 77.70 HKD each — representing 15% of previously issued H-shares — raising approximately 682 million HKD. The short-term share dilution effect has pressured the stock price.
The company had previously rallied on its inclusion in the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs and positive sentiment around its role as a rare domestic NVIDIA AI server ODM partner. Recent sessions have shown signs of profit-taking following the strong run.
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