On June 25, Botai Vehicle Connected (02889.HK) fell 5.36% in regular trading, trading at HK$127.4/share, with turnover of HK$14.69 million.

The decline is a continuation of persistent selling pressure following the company's completion of a placement of 2.2593 million new H shares on June 22 at HK$173.40 per share, raising net proceeds of approximately HK$382 million. The current stock price represents a discount of over 26% to the placement price, leaving new subscribers deeply underwater. Since the placement announcement on June 17, the stock has cumulatively declined nearly 40%.

Despite the founder and CFO collectively purchasing over HK$41 million worth of shares through open market transactions between June 18 and June 22, the scale of these insider purchases remains modest relative to the HK$382 million placement size, failing to restore market confidence. The company remains in a loss-making stage, with net losses of RMB 1.094 billion reported for 2025. Approximately 80% of the placement proceeds are earmarked for strategic M&A in the AI and chip sectors. The interplay of profit-taking and stop-loss selling continues to amplify downward pressure on the stock.

(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.)