7月2日，海光芯正盘中下跌11.63%，报162.2港元/股，成交额2830.77万港元。公司于6月29日以114港元/股发售价登陆港交所，上市首日收涨44.74%，次日再涨逾20%，短期累计涨幅巨大，获利回吐压力显著。
基本面方面，公司虽营收高速增长（两年翻近7倍），但连续三年亏损，累计亏损约2.27亿元。毛利率因市场竞争加剧和产品单价下降持续下滑，JDM模式拖累盈利能力，内地业务毛利率不足10%。叠加前五大客户贡献约七成收入、客户集中度偏高等风险，市场对其估值可持续性存在分歧，短期获利盘集中释放引发回调。
海光芯正创立于2011年，专注于硅光芯片设计、芯片封测、高速光模块等产品的研发与制造，产品广泛应用于AI数据中心，是国内首批实现400G及800G AI光模块量产交付的企业之一。
（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）
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.