CREALIGHTS

Higuang Chipsoar (1191.HK) opened higher at HK$96.9 but reversed sharply in early morning trading, sliding to HK$92.5 by 09:35 BJ, down approximately 5.3% from the prior close. The stock's rapid decline extends a prolonged selloff triggered by a HK$2.35 billion placement that raised dilution concerns. From its 52-week high of HK$219.6 on July 6, the stock has fallen 57.9%, and it trades well below its 20-day and 60-day moving averages of HK$138.5, with a YTD loss of 43.9%. While the broader AI chip rally recently provided intermittent support, the placement overhang continues to weigh on sentiment. The stock is now only 7.4% above its 52-week low of HK$86.15, suggesting limited downside risk from current levels.

Higuang Chipsoar fell 1.24% to close at HK$95.50, primarily weighed by lingering dilution concerns from its recent HK$2.35 billion placement. The stock surged in the morning session to an intraday high of HK$101.90 before rapidly plunging to a low of HK$94.30, then traded sideways in the HK$95-98 range during the afternoon, settling near the session low. The placement has pressured prices from around HK$150 over the past week, with the stock now 56.51% below its 52-week high of HK$219.60 and significantly below its 20-day moving average of HK$140.90, sitting just 10.85% above the 52-week low of HK$86.15. However, an early rally of over 5% fueled by a broader AI chip sector rebound suggests persistent market divergence.

Higuang Chipsoar experienced a spike-and-retreat session today, surging to an intraday high of HK$110.3 in the morning driven by a rally in AI chip stocks, but fell sharply in the afternoon to close at HK$95.0, down 1.7% from the previous close of HK$96.65, with a full-day range of nearly 15%. The company's recent HK$2.35 billion placement has fueled dilution concerns, weighing on the stock. Despite the early bounce, profit-taking emerged in the afternoon. The stock is now 56.7% below its 52-week high of HK$219.6 and well below its 20-day moving average of HK$143.5, with a YTD decline of 42.4%. However, it remains 10.3% above the 52-week low of HK$86.15, suggesting some support at lower levels.

1191.HK staged a reversal from intraday lows, primarily driven by technical buying after hitting a 52-week low of 86.15 the previous day. The afternoon session saw gains accelerate, closing at 96.65, up 7.09% from the previous close of 90.25, but total turnover was only HKD 43.86 million with a turnover rate of 0.55%, indicating limited follow-through. The stock fluctuated wildly, with a morning low of 86.15 followed by an afternoon high of 98.10, settling at 96.65. It remains 55.99% below its 52-week high of 219.60 and well below the 20-day MA of 146.50, with a year-to-date decline of 41.42%. The PB stands at 13.65x and PE is negative at -79.82x, reflecting fundamental pressure. However, slightly higher afternoon volume suggested tentative bargain-hunting at lower levels.

Haidian Core (1191.HK) experienced a sharp intraday reversal in the morning session, briefly touching a high of 102.100 HKD at the open before plummeting to an intraday low of 92.900 HKD, a new 52-week low, and closing at 96.900 HKD, down approximately 5.5% from the previous close of 102.500 HKD. The decline was primarily driven by persistent concerns over shareholder dilution following the company's recent equity fundraising of approximately 2.35 billion HKD, which has triggered similar declines (e.g., 10%, 12.5%) in recent days. The current price of 96.900 HKD is 55.87% below the 52-week high of 219.600 HKD and significantly below the 20-day moving average of 150.267 HKD, indicating a bearish trend. However, trading volume was light at 50,600 shares, with a turnover of approximately 4.97 million HKD and a turnover rate of 0.06%, suggesting limited selling pressure.