Innoscience (02577.HK) saw its stock price plummet 5.38% during intraday trading on Monday, as the company faced selling pressure following recent share conversions and broader semiconductor sector weakness.

The company recently completed the conversion of approximately 374 million domestic unlisted shares into H-shares, which began trading on the Hong Kong Stock Exchange last week. Early-stage private equity shareholders hold these shares at an average cost of around 22 HKD per share, retaining significant unrealized gains and fueling market concerns over potential staggered disposals. Additionally, approximately 12.59 million cornerstone shares held by STMicroelectronics are set to unlock later this month, with the approaching lock-up expiry further intensifying investor caution.

The stock's decline was compounded by broad pressure across the semiconductor industry, with sector peers including Hua Hong Semiconductor, GigaDevice, Montage Technology, Biren Technology, and SMIC all experiencing significant declines during the same trading session.