On September 28, GPIXEL (03277.HK) fell 5.31% in regular trading, dropping to around HK$68.8 per share, with turnover of approximately HK$8.777 million. The decline was primarily driven by market concerns over the imminent expiry of cornerstone investor lock-up restrictions.

According to company filings, cornerstone investors' restricted shares will see their lock-up period expire on October 16, with formal free trading commencing on October 19. The unlock involves a total of 32.6452 million shares, representing 7.5% of post-IPO restricted share capital. The market is pricing in potential near-term selling pressure as institutional holders may seek to realize gains upon lock-up release.

The stock has exhibited significant volatility since its April listing at HK$39.88 per share, surging to a high of HK$116.713 before entering a prolonged correction phase, bottoming near HK$57.05 in late July. Despite a brief recovery in August, shares have resumed their downtrend through September.

On the fundamental side, GPIXEL reported robust first-half results with revenue of RMB 641 million, up 78.4% year-over-year, and attributable profit of RMB 250 million, surging 197.2%. Gross margin expanded to 68.7% from 62.2%, driven by strong demand in industrial imaging applications including lithium battery and PCB inspection.

(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.)