CCTC (06951.HK) experienced a significant intraday decline of 5.14%, with the stock breaking below its IPO price of HK$100.30. The movement reflects heightened market concerns following substantial shareholding transfers.

Hong Kong stock exchange data revealed significant position transfers totaling HK$347 million, representing 4.53% of the company's outstanding shares. The transactions involved 2.23 million shares transferred into Galaxy Securities Hong Kong and 564,300 shares transferred out from Jefferies Hong Kong, indicating active institutional repositioning. This follows an earlier transfer of HK$717 million (9.57% of shares) on July 13.

The substantial share movements have raised investor concerns about institutional positioning in the newly listed company, contributing to the stock's decline. CCTC, which specializes in electronic ceramic materials and components, listed on July 9 after a heavily oversubscribed IPO but has now retraced all its post-listing gains within just one week of trading.