On July 3, Xunce fell 11.15% in regular trading, trading at HKD 110.7/share, with turnover of HKD 35.91 million. The decline was triggered by the company's announcement of a discounted share placement and simultaneous convertible bond issuance after market close on July 2.

Specifically, the company plans to place 7.283 million H shares at HKD 107.70 per share, representing a discount of approximately 13.0% to the closing price of HKD 123.80, raising net proceeds of approximately HKD 771 million. Simultaneously, the company proposed issuing zero-coupon convertible bonds with a principal amount of RMB 1.36 billion, maturing in 2027, with an initial conversion price of HKD 123.86 per share. The placement shares account for approximately 2.3% of total issued share capital, and if the convertible bonds are fully converted, an additional dilution of approximately 3.9% would occur, bringing total potential dilution to over 6%.

Notably, the stock had surged over 16% intraday on July 2, driven by strong Token ARR growth data and a partnership with Beijing International Big Data Exchange. The sharp reversal reflects significant short-term equity dilution concerns outweighing recent positive momentum.

(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.)