On June 3, Yifei Technology (06871.HK) fell 5.5% in regular trading, trading at HK$34.0/share, with trading volume of HK$43.28 million.

On the news front, Yifei Technology listed on May 18 at an issue price of HK$30.5, having set a Hong Kong IPO record with 14,855x oversubscription. The stock surged to HK$59.65 on its first trading day before entering a sustained pullback. On June 2, the stock briefly rebounded approximately 5% on technical oversold recovery, but the bounce failed to hold as selling pressure resumed today.

Market analysis attributes the continued weakness to the absence of cornerstone investors and a greenshoe mechanism in the IPO structure, leaving the stock without effective price support. Compounding these structural issues, the company reported persistent net losses through 2025, negative operating cash flow of -RMB183 million, and a leverage ratio of 71.89%, intensifying investor concerns over its fundamental outlook. The upcoming board meeting on June 5 to review audited financial statements adds further uncertainty.

(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.)