The Hang Seng Index fell 0.85%, losing 217 points to 25,381, while the Hang Seng Tech Index declined 0.25%. Morning session turnover reached HK$170.1 billion. Three newly listed stocks saw significant gains on their debut. SDMC (00901) surged over 98% in the morning session; the company is a smart home solutions provider. DEEPZERO (02723) jumped 260%, leading in the AI decision intelligence application sector. VIEWTRIX TECH (03310) rose more than 79%, holding the top position in mainland China for AMOLED display driver chip sales. Contemporary Amperex Technology (03750) gained 5.78% as a 601MWh large-scale energy storage project, developed in partnership with Solarpro, commenced in Bulgaria. GigaDevice (03986) advanced over 3% amid the combined market capitalization of the three major memory chip giants exceeding $1 trillion, with ChangXin Memory Technology's IPO review scheduled for today. Roborock (01236) climbed over 4%, capitalizing on significant growth in the global smart lawn mower market and successfully seizing early market opportunities. UISEE (01511) soared more than 15% to a record high, recently securing another unmanned vehicle order for an airport in Xinjiang. Nine Dragons Paper (02689) rose over 9% following a recent packaging paper price increase notice, with analysts noting valuation is at a bottom and highlighting potential recovery opportunities. Solargiga (00580) surged over 12% as its silicon carbide products reached international mainstream standards, with plans to increase MOSFET chip R&D within the year. Jiachen International Resources (03858) gained 3%, with U.S. military ammunition stockpiles under pressure, strengthening military demand and tightening tungsten supply. Tianyue Advanced (02631) jumped over 16% as AI power demand boosts silicon carbide industry sentiment, with institutions forecasting potential demand growth of nearly eightfold. China Literature (00772) advanced over 3%, recently opening a trendy toy curated store in Singapore after an exclusive strategic investment in SOFTOPIA. MINISO (09896) fell over 6% post-earnings, with first-quarter adjusted net profit at 550 million yuan, down 6% year-over-year. Impro Precision (01286) dropped over 3%, planning a top-up placing at an approximate 13.58% discount to raise about HK$539 million net.