ZJ INNOLIGHT (03308.HK) staged a dramatic rebound during intraday trading on Friday, soaring 19.27% after a disappointing Hong Kong debut the previous session. The surge came as investors reacted to exceptionally strong margin buying data on the company's A-share counterpart.

On July 30, ZJ INNOLIGHT’s A-shares (300308.SZ) led all Chinese stocks in margin purchases, attracting a massive 7.345 billion yuan in margin buying. The heavy inflow underscored robust bullish sentiment from mainland investors toward the optical transceiver giant, and the positive momentum quickly spilled over to its newly listed H-shares, fueling a sharp rally.

The stock had closed 2% below its HK$980 IPO price on its first day of trading, but the blockbuster A-share margin figures helped reverse the trend and drive the Hong Kong-listed shares sharply higher in the Friday session.