On June 8, Xunce (03317.HK) fell 7.23% in regular trading, trading at 170.0 HKD/share, with trading volume of HKD 126 million.

On the news front, Xunce had surged nearly tenfold over approximately 120 trading days, rising from 38 HKD to 380 HKD, earning it the market moniker of the first Token economy stock. Since the company launched TokenONE, the world's first TokenOS operating system, on May 25, short-term profit-taking has intensified, driving the stock price into a significant correction from its highs. The stock's forward P/E ratio of approximately 485x and P/B ratio exceeding 28x continue to exert valuation digestion pressure.

Additionally, the company announced on June 5 that executive director Jiang Chunfei would resign effective after the AGM on June 26. Although Xunce simultaneously signed a tripartite strategic cooperation agreement with Botai Connected Car and Saimu Technology to expand into the intelligent connected vehicle sector on the same day, selling pressure was not alleviated.

Within the IT Consulting and Other Services sector, CHINASOFT INT'L fell 4.48%, LX TECHNOLOGY fell 2.81%, and WELLCELL H-NEW fell 5.0%, reflecting broad-based sector weakness that compounded the stock's decline.

(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.)