NUOBIKAN's stock plummeted 6.14% during intraday trading on Wednesday, extending a significant decline from its recent highs.

The continued selloff reflects persistent profit-taking pressure following the company's inclusion in the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, which had been widely anticipated and previously drove the stock higher. While a recent clarification regarding a supplier's alleged revenue fabrication provided a brief rebound, market doubts over the company's earnings quality have quickly resurfaced.

Investor sentiment remains weighed down by a severe mismatch in the company's financial performance. For 2025, NUOBIKAN reported revenue growth of 23.7% year-over-year, but net profit attributable to shareholders grew only 2.1%. Furthermore, concerns are amplified by trade receivables that exceeded the total revenue from the prior year, raising questions about the quality and sustainability of earnings.