The Zhitong Finance App learned that Pioneer Intelligence (00470) once fell by more than 9% in the afternoon, hitting a new low of HK$19.73. The stock price fell by more than 30% in the past five trading days alone. As of press release, it decreased by 8.07% to HK$20.04, with a turnover of HK$116 million.

According to the news, domestic demand for new energy vehicles is weakening, compounded by recently introduced policies prohibiting energy storage equipment manufacturing companies with low capacity utilization rates from continuing to expand production, and the market is worried that the pace of battery production expansion will slow down. Citi released a research report saying that although leading intelligence management is still optimistic about order visibility, the bank sees early signs of a slowdown in battery capital expenditure from automation company operating data. The bank's battery team also predicted that global battery production capacity would only increase by 24%/15% in 2027/2028, respectively, down from the 46% year-on-year increase in 2026. The pilot smart rating was downgraded from “buy” to “neutral”, and the target price was drastically reduced from HK$63 to HK$24.

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