On June 8, Changguang Chenxin (03277.HK) fell 5.28% in regular trading, trading at 94.15 HKD/share, with trading volume of 9.1089 million HKD, extending its multi-day decline.

On the news front, Tianzhun Technology announced that its wholly-owned subsidiary Singapore Tianzhun plans to sell up to 1,522,100 shares of Changguang Chenxin (no more than 0.34% of total share capital), with an estimated transaction amount of approximately 129 million RMB against a book cost of 53.138 million RMB. The purpose is to lock in investment gains and reduce the impact of fair value fluctuations on short-term performance. This planned disposal, combined with sustained net capital outflows, has intensified market selling pressure. The stock has now declined for three consecutive trading sessions from its June 3 level of 106.7 HKD. Notably, CLSA previously initiated coverage with an Outperform rating and a target price of 141.2 HKD, citing the company's leadership in high-performance CMOS image sensors and domestic substitution tailwinds, though near-term sentiment remains under pressure.

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