QINGSONG HEALTH

Qingsong Health Group fell 1.56% to close at HKD 9.450, driven primarily by valuation mean reversion after earlier AI-themed hype and investor concerns over massive net losses disclosed in earnings. The intraday session showed a dip-and-recovery pattern: opening lower, it fell to an intraday low of HKD 9.180 in the morning before rebounding to an afternoon high of HKD 9.670, then edging lower toward the close. While the company announced a HKD 100 million on-market share buyback and its controlling shareholder voluntarily extended the lock-up period to 2027, these measures provided only a temporary boost, failing to reverse the downtrend. The stock has plunged 94.19% from its 52-week high of HKD 162.7 on March 26, and remains well below both its 20-day moving average (HKD 13.869) and 60-day moving average (HKD 46.091). Revenue grew 6.3% YoY to HKD 333.5 million in Q4 2025, but net loss widened to HKD 259.0 million (down 8,597.02% YoY), with EPS of negative HKD 3.0252 and net profit margin of -77.65%, overshadowing the top-line improvement.