Shares of the Hong Kong-listed company dubbed the "first AGI stock" experienced a severe sell-off, with its intraday decline exceeding 40% on the day its lock-up period expired.

The stock price of AGI plummeted sharply, ranking among the top decliners on the Hong Kong market for the day. At the time of writing, the stock was down 39.51%, trading at HK$73.5 per share.

The significant drop coincided with the one-year anniversary of the company's listing, as it entered a window for the release of previously restricted shares, putting substantial pressure on the share price.

Examining a longer timeframe reveals a pronounced downtrend. Data shows the stock has fallen approximately 70% over the past 20 trading sessions. For the year to date, the decline is even steeper at around 80%, indicating the stock is in a deeply weak technical position.

Background information indicates the company was founded in 2012 and was an early adopter of applying deep learning algorithms to commercial speech recognition in its domestic market. It is also considered a pioneer in AGI (Artificial General Intelligence) technology. The company listed on the main board of the Hong Kong Stock Exchange. Its business focuses on providing voice interaction products for the Internet of Things and intelligent voice tool products. In the smart IoT solutions sector, it offers comprehensive solutions tailored for specific scenarios such as hotels, communities, residential buildings, and hospitals.

In early June, the company launched its self-developed general-purpose large model, U2, which garnered significant attention in global markets. On the global AI model evaluation platform LLM Stats, the U2 model achieved notable rankings. It entered the top 30 in the overall LLM Stats Score comprehensive capability ranking and placed 9th globally among model providers based on the best model performance by manufacturer.

Analysts previously commented that the launch of the self-developed U2 model, which placed the company among the top ten global model providers on LLM Stats, could potentially accelerate the path to commercializing its AI technology.