HK Stock Market Move | XIZHI TECH-P (01876) fell more than 4% in late trading; the company yesterday saw the lock-up expiry of its first cornerstone investor since listing.

XIZHI TECH-P (01876) fell more than 4% in late trading, down 4.35% as of press time to HK$184.6, with turnover of HK$167 million. On the news front, on October 28, XIZHI TECH-P saw its first lock-up expiry window since listing, with a total of approximately 8.9746 million shares held by 20 cornerstone investors released from lock-up, accounting for 9.54% of total share capital after the exercise of the over-allotment option. On the day of the lock-up expiry, XIZHI TECH traded 1.9514 million shares, the highest since its listing debut, and still closed up more than 4%. Before the lock-up expiry of XIZHI TECH-P, CICC gave XIZHI TECH-P a target price of HK$362, which was raised to HK$426 in August, maintaining an "outperform" rating. Previously, according to XIZHI TECH-P's interim report, revenue in the first half of 2026 grew 284% year-on-year to RMB79.78 million, of which optical interconnect revenue grew 275% and optical computing revenue grew 313%; adjusted net loss was RMB147 million, basically flat compared with the same period last year.