On October 2, BIREN TECH fell 3.32% in regular trading, trading at 36.1 HKD/share, with turnover of approximately 11.74 million HKD. The stock extended its ongoing pullback, having dropped over 8% on September 28 and only briefly rebounding on September 29 before resuming weakness, indicating that short-term profit-taking pressure has yet to be fully absorbed.

On the institutional front, Hong Kong Exchange disclosures revealed that Morgan Stanley reduced its H-share stake in BIREN TECH from 6.12% to 4.90%, a decline of 1.22 percentage points, further dampening market sentiment. Notably, Morgan Stanley had only recently raised its stake to 6.12% on September 24 before swiftly trimming the position on September 25.

On the fundamental side, the company reported first-half revenue of 1.236 billion yuan, surging 1,997.6% year-over-year, while adjusted net losses narrowed 38.9%. Daiwa previously raised its target price to 130 HKD with a reiterated buy rating, and Goldman Sachs maintained its buy rating with a target price of 80.5 HKD, suggesting the medium-to-long-term outlook remains intact despite near-term technical 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.)