On August 31, ILUVATAR COREX fell 11.54% in regular trading, trading at 375.8 HKD/share, with turnover of HKD 195 million.

The decline follows the company's H1 results disclosed on August 28. While revenue surged 191.6% year-over-year to RMB 9.46 billion and net profit reached RMB 106 million — marking a turnaround from a RMB 609 million loss — the quality of earnings drew sharp scrutiny. Gross margin collapsed from 50.1% to 17.2%, far below the industry average of approximately 55%. Gross profit was virtually flat year-over-year at RMB 163 million despite revenue nearly tripling, as cost of sales soared 383.9%. The profit turnaround was largely attributable to approximately RMB 7.3–7.9 billion in unrealized fair value gains from an equity investment in an A-share listed company, rather than core GPU operations. Operating cash flow also deteriorated to negative RMB 2.786 billion from negative RMB 716 million a year earlier.

The broader semiconductor sector added selling pressure, with MONTAGE TECH down 2.6% and HUA HONG GRACE down 2.4%, amplifying the stock-specific weakness.

(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.)