The Zhitong Finance App learned that Changguang Chenxin (03277) opened high and went low, hitting a new low of HK$43.92 in the intraday market. As of press release, it fell 6.27% to HK$44.86, with a turnover of HK$57.83 million, down nearly 60% from the May high of HK$116.713.

According to the news, the six-month ban on shares held by Changguang Chenxin Cornerstone investors expired on October 16. A total of 32.6452 million restricted shares were lifted on October 17, accounting for about 7.33% of the company's total share capital. The cornerstones involved in the subscription included Gao Lin's HLR, Boyu Capital, UBS Asset Management, Jinglin Asset Management, Wells Fargo Fund, etc. The cornerstone investors participating in the subscription included overseas asset management institutions, public funds, and various industrial capitals. The stock price still fluctuated compared to the issue price of HK$39.88 before the ban was lifted.

It is worth mentioning that the fall in stock prices deviates from fundamentals. According to the interim results, the company's revenue for the first half of the year was 641 million yuan, up 78.4% year on year, and profit due to parent company owners was 250 million yuan, up 197.2% year on year; of this, industrial imaging revenue was 531 million yuan, up 101.7% year on year, accounting for 82.8% of total revenue, mainly driven by increased demand for high-end industrial testing and lithium battery and PCB testing.

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