On July 2, Crealights (01191.HK) fell 11.63% in regular trading, trading at 162.3 HKD/share, with turnover of approximately 30.46 million HKD. The decline was primarily driven by concentrated profit-taking from early investors following the stock's strong post-IPO rally, compounded by concerns over the company's continuous losses.

Crealights listed on the Hong Kong Stock Exchange on June 29 at an offer price of 114 HKD/share, surging as much as 80% on its debut and closing up 44.74% at 165 HKD. The stock continued to rally approximately 20% on its second trading day. The rapid appreciation from the IPO price created significant unrealized gains, prompting short-term holders to lock in profits. Market participants also flagged structural risks including three consecutive years of cumulative losses totaling 227 million RMB, high customer concentration with the top five clients contributing approximately 70% of revenue, and declining gross margins amid intensifying competition. These fundamental concerns have fueled divergence over the company's valuation sustainability at current levels.

Crealights was founded in 2011 and specializes in silicon photonic chip design, chip packaging and testing, and high-speed optical modules. Its products are widely deployed in AI data centers, and it is among the first domestic companies to achieve mass production of 400G and 800G AI optical modules.

(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.)