On June 8, ZTE Corporation (00763) fell 3.44% in regular trading, trading at HK$28.3 per share, with trading volume of HK$404 million.

The decline follows a string of strong gains in prior sessions, with the stock rising over 5% on June 4 and surging more than 10% on June 5 in Hong Kong trading, accumulating significant short-term gains. The prior rally was driven by multiple catalysts including Morgan Stanley upgrading its rating and raising the target price, deepening cooperation with ByteDance around the Doubao AI assistant integrating AI capabilities into smartphones, and a partnership with Tencent to launch an AI cloud computer product.

After the sharp cumulative advance, profit-taking pressure surfaced. Additionally, the company reported Q1 net profit attributable to shareholders of RMB 1.31 billion, representing a 46.58% year-over-year decline, adding fundamental headwinds that contributed to the technical pullback.

(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.)