On July 10, Xunce Technology fell 6.29% in regular trading, trading at 99.0 HKD/share, with turnover of 81.22 million HKD. The stock has now dropped over 8% below its prior placement price of 107.70 HKD.

On the news front, the Hong Kong large model sector is experiencing a concentrated lock-up share release window. MiniMax saw a massive cornerstone lock-up expiry on July 9, representing approximately 63% of its Hong Kong-listed share capital, fueling broad sector selling pressure expectations. Additionally, Xunce completed a placement of 7.283 million H shares at approximately 13% discount on July 3 alongside a 1.36 billion RMB zero-coupon convertible bond issuance. With the stock price continuing to move further below the placement price, participating investors face expanding unrealized losses, compounding short-term selling pressure. The resonance between profit-taking from the prior rebound and unlock-related overhang has prolonged the corrective trend.

(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.)