XIZHI TECH-P's stock price plummeted 5.23% during intraday trading on Thursday, reflecting significant downward pressure on the share price.

The sharp decline follows the official listing of over-allotment shares, which has raised concerns over increased circulating supply and amplified short-term selling pressure. The joint global coordinators fully exercised the over-allotment option, involving approximately 2.069 million H shares that began trading today.

As the world's first listed AI silicon photonics chip company, XIZHI TECH-P has experienced volatile post-IPO trading with a relatively limited free float still under lock-up restrictions. The formal listing of these additional shares has intensified supply-side concerns amid the stock's recent weakening trend over multiple consecutive sessions.