On September 29, MANYCORE TECH fell 5.33% in regular trading, trading at HKD 7.15 per share with turnover of approximately HKD 15.24 million, approaching its historical low.

On the news front, the stock is facing mounting pressure from an imminent massive lock-up expiry in October, when shares representing over 90% of total share capital — nearly 1.6 billion shares — will become eligible for trading. This overhang is particularly concerning given that the stock's average daily turnover has retreated to only around HKD 10 million, raising significant liquidity concerns. Meanwhile, southbound funds have been persistently reducing their holdings, with a single-day net sale of 942,500 shares recorded on September 25.

The company's market capitalization has contracted from a post-listing peak of approximately HKD 83.7 billion to around HKD 13 billion, a decline exceeding 80%. Despite reporting a 211% year-over-year surge in adjusted net profit to RMB 55.42 million for the first half and progress in its spatial intelligence strategy including the launch of its 3D generative model Lux3D, the market continues to reprice the stock amid structural overhang risks and tepid revenue growth of just 1.5%.

(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.)