On September 10, ZJ INNOLIGHT fell 3.07% in regular trading, trading at 1139.0 HKD/share, with turnover of HKD 11.27 billion, giving back part of the gains accumulated over the prior sessions.

On the news front, the latest HKEX disclosure revealed that Morgan Stanley reduced its long position in ZJ INNOLIGHT H shares from 5.35% to 4.86% on September 4, breaching the critical 5% threshold, while simultaneously increasing its short position from 0.63% to 0.76%. Notably, Morgan Stanley served as one of the joint sponsors for the company's H-share listing, making its position adjustment closely watched. Additionally, JPMorgan had earlier trimmed its stake from 15.59% to 13.67%, with concentrated selling by multiple foreign institutions weighing on near-term sentiment.

The pullback followed a strong rally driven by Goldman Sachs initiating coverage with a Buy rating and a HKD 3,267 target price, alongside Citi's Buy initiation at HKD 1,524. The company continues to execute its large-scale buyback program, repurchasing approximately RMB 2.17 billion worth of A shares on September 9 alone.

(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.)