YOFC (06869) has dropped over 4% again, reaching a low of HKD 38.5 during the session, which represents more than a 40% decline from September's high of HKD 65. As of the time of writing, it has fallen 4.33% to HKD 38.88, with a trading volume of HKD 582 million.

According to recent reports, Nomura stated that the latest fiber optic tender results from China Mobile indicate a decline in both market share and average selling price for YOFC, which could pressure profits starting in the third quarter of this year. The firm believes that the current stock price reflects the favorable factors of AI business expansion, downgrading its rating from "Buy" to "Neutral," while significantly raising its target price from HKD 18.6 to HKD 52.

Importantly, on September 19, Draka Comteq B.V. sold 37.5953 million H shares of YOFC through a block trade, which accounted for 5% of the total share capital, leaving its number of H shares at zero. As of the end of March this year, Draka Comteq B.V. and China Huaxin Postal Technology Co., Ltd. were joint largest shareholders of YOFC, both holding 23.73%. From April 17 to September 19, Draka Comteq B.V. has cumulatively reduced its holdings in YOFC H shares by nearly 180 million shares, representing 23.73% of the total share capital.