Stock Track | TOPNC Soars 11.18% Intraday as Stock Rebounds After Post-IPO Selloff on Broker Buy Rating

Stock Track
06/01

TOPNC's stock surged 11.18% during intraday trading on Monday, marking a significant upward movement for the high-end CNC machine manufacturer.

The sharp rise represents a rebound after sustained post-IPO selling pressure that had weighed on the stock since its listing in late May. The broader Hong Kong newly listed stock sector had faced persistent selling during this period, with many companies trading below their issue prices.

Supporting the recovery, Capital Securities initiated coverage on TOPNC with a Buy rating and set a target price of HKD 46, implying substantial upside potential from current trading levels. The company specializes in high-end five-axis CNC machines and holds a leading position in China's aerospace CNC machine market with a 10.0% market share.

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