Haizhi Technology Group's stock plummeted 5.45% during intraday trading on Friday, extending its ongoing correction despite positive analyst coverage from BOCI.

BOCI initiated coverage on the company with a Buy rating and a target price of 80.81 HKD, highlighting Haizhi Tech as a leader in China's AI application space with projected strong revenue and profit growth for 2025-2028. However, the market did not respond positively to this development.

The stock has been in a prolonged downtrend since listing and surging to a peak earlier this year, now trading more than 60% below its historical high. A recent inclusion into the Hang Seng Composite Index similarly failed to provide support, with limited profit-taking capacity in the market and many investors who purchased at higher prices remaining underwater.