On May 21, ZTE Corporation (00763.HK) fell 3.09% in regular trading, trading at 23.86 HKD/share, with trading volume of approximately 261 million HKD.

The decline was driven by multiple overhangs. The company's A-share buyback plan, previously approved by the board of directors, has remained unexecuted for over five months, fueling persistent market doubts regarding management's capital allocation credibility. Additionally, JPMorgan reduced its holdings by approximately 2.209 million shares on May 11 at an average price of 27.48 HKD per share, involving approximately 60.71 million HKD, lowering its stake to 6.97%. Institutional selling has further weighed on sentiment.

According to Hong Kong Exchange data, ZTE's short-selling ratio stands at 19.76%, ranking first among all Hong Kong-listed stocks, with bears continuing to build positions and exerting significant downward pressure. Within the Communications Equipment sector, YOFC fell 6.67% and CIG fell 8.10%, reflecting broad sector weakness that compounded the drag 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.)