On July 23, HUAQIN declined 3.64% in regular trading, trading at 70.75 HKD/share, with turnover of HK$132 million. The pullback follows the previous session's sharp rally, in which the stock surged 10% to hit the daily limit on its A-share listing and gained over 8% in Hong Kong, driven by a buyback plan of RMB 1.5-2 billion, the chairman's planned H-share purchase of RMB 10 million, and super-node product revenue guidance exceeding RMB 10 billion for the full year.

On July 22, the company also disclosed that its subsidiary Huaqin Telecom acquired 4.45 million H-shares of Nexchip Semiconductor for approximately HK$144 million, raising the group's total stake to 10.82%. The cash outflow from cumulative Nexchip acquisitions over recent weeks may have weighed on near-term sentiment. The decline diverges from the broader Technology Hardware sector, where Lenovo Group gained 3.65%, Legend Holdings rose 3.75%, Sunmi Tech-W advanced 4.58%, and Xiaomi-W climbed 0.97%.

(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.)