On June 8, Yifei Technology fell 12.96% in regular trading, dropping to HK$20.5 per share with trading volume of HK$17.09 million. The stock has now declined over 65% from its first-day high of HK$59.65 and trades far below its IPO price of HK$30.5.

On the news front, the company's board reviewed its three-year audited financial statements on June 5, and the post-event market reaction has been sharply negative as fundamental concerns intensified. The company continues to report losses, negative operating cash flow, and elevated leverage. Despite announcing a proposed share buyback of up to 10% of issued H shares (approximately 24.5 million shares) on the same day, the measure failed to reverse bearish sentiment, with selling pressure accelerating.

The stock's IPO structure — featuring no cornerstone investors and no greenshoe mechanism — has left it without effective price support since listing. Yifei Technology once attracted attention with a record 14,855x oversubscription but has seen sustained selling since debut. The combination of weak fundamentals, structural IPO vulnerabilities, and post-earnings uncertainty continues to weigh heavily on the share price.

(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.)