Stock Track | ZJ INNOLIGHT Plummets 5.05% Intraday as Goldman Sachs Reduces Stake and FCC Ban Concerns Linger

Stock Track
Aug 10

ZJ INNOLIGHT shares tumbled 5.05% during Monday's intraday trading session, pressured by news of a significant stake reduction by Goldman Sachs and ongoing market jitters over a potential U.S. FCC ban on Chinese optical transceiver imports.

According to Hong Kong Stock Exchange disclosures, Goldman Sachs sold 324,550 shares of ZJ INNOLIGHT at an average price of approximately HK$1,084.87 per share, reducing its long position from 12.19% to 11.6%. Meanwhile, rumors of an FCC ban on new Chinese optical transceiver modules continue to weigh on sentiment, although the company has confirmed that no restrictive documents have been issued by the FCC.

In contrast, JPMorgan increased its stake in the company's H-shares from 13.48% to 15.02%, purchasing at an average price of HK$1,150.85. ZJ INNOLIGHT remains the global leader in optical modules with around 21.2% market share.

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