On September 11, VGT (02476.HK) fell 3.08% in regular trading, trading at HK$199.0/share, with turnover of HK$105 million, extending its recent downtrend.

On the news front, HKEX data revealed a significant position shift on September 9, with 1.8256 million shares transferred out of Citibank, representing a market value of approximately HK$690 million and accounting for 3.03% of outstanding shares. Meanwhile, Bank of America sharply cut its target price from 455 yuan to 367 yuan, citing a deteriorating competitive landscape in the PCB supply chain.

The selling pressure is compounded by weakening fundamentals. The company's Q2 non-GAAP net profit declined 5.28% year-over-year, while H1 gross margin dropped 3 percentage points to 33.2%, pressured by workforce expansion of roughly 4,000 employees and rising depreciation from new production lines. Inventory surged 119.5% year-over-year to 5.89 billion yuan, far outpacing the 28.8% revenue growth. Within the Electronic Components sector, KB Laminates fell 4.28% and Kingboard Holdings fell 4.03%, reflecting broader sector weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)