NUOBIKAN (02635) fell more than 14% again, hitting an intraday low of HK$39.18. The stock has now halved from its Monday high of HK$83.2. As of writing, the share price was down 13.79% at HK$39.4, with a turnover of HK$86.31 million.

The decline follows the company's inclusion in the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs effective April 20 (this past Monday). NUOBIKAN's 2025 performance report showed a 23.7% year-on-year increase in revenue. However, net profit attributable to shareholders grew by only 2.1%, indicating a significantly lower profit growth rate compared to revenue.

Factors such as an increased proportion of low-margin business and rising costs for smart hardware have weakened profit stability. This has raised market concerns about the company's ability to deliver on its earnings potential.