On June 4, Hua Qin Technology (03296.HK) fell 3.46% in regular trading, trading at HKD 84.5/share, with trading volume of HKD 43.59 million.

The decline extends the profit-taking correction that began on June 3. The stock had surged over 21% on June 1 to a post-listing high, fueled by NVIDIA's GTC Taipei conference and AI computing chain tailwinds, followed by another 4%+ gain on June 2. The massive short-term cumulative gains intensified selling pressure, with the stock already pulling back significantly on June 3.

Simultaneously, the Technology Hardware sector is broadly under pressure. Among sector peers, Lenovo Group fell 2.83%, Legend Holdings fell 3.20%, Longcheer dropped 1.76%, and Xiaomi declined 1.12%, creating a sector-wide downward resonance that further weighed on the stock.

On the fundamental side, Goldman Sachs recently initiated coverage with a Buy rating and a target price of HKD 127.76, projecting a 32% revenue CAGR for 2025-2027, supported by AI data center growth and product mix upgrades driving margin improvement.

(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.)