Movement Alert｜Biren Technology Intraday Decline 3.35%, Profit-Taking After All-Time High Combined with H-Share Full Circulation Supply Pressure

Market Focus

Jun 23

On June 23, Biren Technology fell 3.35% in regular trading, trading at 63.0 HKD/share, with turnover of HKD 171 million.

On the news front, the stock surged over 7% on the previous trading day to reach a record high of 66.35 HKD, pushing market capitalization above HKD 160 billion, triggering significant short-term profit-taking pressure. Additionally, the company submitted an application to the China Securities Regulatory Commission on June 5 to convert approximately 868 million domestic unlisted shares into H-shares, with the substantial increase in potential circulating supply continuing to weigh on market sentiment.

Within the Semiconductor sector, performance diverged notably on the same day, with SMIC up 3.04%, Hua Hong Grace up 2.79%, while GigaDevice fell 5.22%, Montage Technology fell 6.05%, and Innoscience fell 2.03%, reflecting broader sector weakness that amplified the adjustment sentiment for Biren Technology.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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