On June 16, Xunce (03317.HK) fell 5.03% in regular trading, trading at 143.6 HKD/share, with turnover of HKD 152 million.

On the news front, the stock had surged approximately 10x from 38 HKD to 380 HKD over roughly 120 trading days. Since the May 25 TokenONE product launch, profit-taking has persisted, with shares now retracing over 60% from highs. More critically, approximately 6.41 million shares held by IPO cornerstone investors are set to unlock on June 29, representing nearly HKD 920 million in market value at current prices, intensifying near-term selling pressure.

Despite recent positive developments including strategic partnerships with three domestic GPU leaders — Metax, Iluvatar, and Biren Technology — announced on June 15, as well as a quantum computing collaboration with Turing Quantum, the stock failed to sustain gains as technical selling pressure overwhelmed fundamental catalysts. Within the IT Consulting sector, WELLCELL H-NEW fell 7.61%, CHINASOFT INT'L fell 1.70%, and MICROWARE fell 3.80%, reflecting broad sector 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.)