On July 14, Lingyi iTech (01688.HK) fell 3.37% in regular trading, trading at HKD 6.45/share with turnover of HKD 18.07 million, extending the prior session's decline.

The sell-off follows the company's July 10 announcement that it plans to invest up to RMB 4 billion through a subsidiary to participate in the restructuring of Futong Group (Jiashan) Communication Technology Co., acquiring control of its optical fiber preform, optical fiber, and optical cable assets. The company stated the investment aims to expand into the optical fiber communication materials sector, creating synergies with its existing AI computing business. The news triggered a limit-down in A-shares on July 13, while H-shares fell 4.76% that same day.

Since its Hong Kong listing on June 26 at an IPO price of HKD 10.18, the stock has consistently traded below its offering price, currently reflecting a discount exceeding 35%. Prior to the restructuring announcement, A-shares had shown strong institutional buying momentum, with net inflows of RMB 1.1 billion from institutions on June 30.

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