On June 9, Innoscience (02577.HK) declined 3.98% in regular trading, trading at HK$64.5/share, with trading volume of HK$181 million.

The decline was primarily driven by continued selling pressure following the company's completion of approximately 374 million domestic unlisted shares converting into H-shares on June 3, which began trading on the Hong Kong Stock Exchange the following day. Early-stage private equity shareholders hold positions at significantly lower cost bases and retain substantial unrealized gains, fueling market concerns over potential phased disposals. HKEX disclosure data shows multiple recent reduction records by company directors and institutional shareholders, further intensifying sell-off expectations.

Additionally, approximately 12.59 million cornerstone shares held by STMicroelectronics are scheduled for lock-up expiry on June 29, with this approaching unlock date compounding cautious market sentiment. These multiple overhang factors collectively weighed on the stock price.

(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.)