UNISOUND (09678) tumbled more than 17% during intraday trading. The stock was officially included in the Hong Kong Stock Connect scheme on Monday this week, opening higher but closing down over 18% that day. The shares have continued declining for three consecutive trading days, with cumulative losses approaching 40%.

Notably, the company's stock price repeatedly hit new highs over the previous month. However, since September, it has reversed course sharply downward, giving back all gains made since August. As of press time, the stock was down 11.49% to HK$468.2, with trading volume reaching HK$119 million.

On the news front, UNISOUND was officially added to the Hong Kong Stock Connect list on September 8th. According to public information, UNISOUND operates as an AI solutions provider specializing in conversational AI products and solutions, with business focus covering two major segments: smart living and smart healthcare.

For the first half of this year, the company achieved revenue of RMB 405 million, representing a 20.2% year-over-year increase. However, the loss attributable to owners of the company reached RMB 297 million, widening by 16.4% compared to the same period last year.

It's worth noting that the company has been loss-making for the past three years. According to previous prospectus filings, UNISOUND recorded losses of RMB 375 million, RMB 376 million, and RMB 454 million in 2022, 2023, and 2024 respectively, with cumulative losses totaling RMB 1.205 billion. Additionally, as of the end of 2024, the company's redemption liabilities reached RMB 3.303 billion.