On September 11, ILUVATAR COREX fell 3.12% in regular trading, trading at HK$312.8/share, with turnover of HK$78.32 million. The stock has now declined over 29% in the past month, remaining under sustained pressure.

The continued selloff reflects the aftermath of the company's interim results, which revealed a sharp gross margin contraction from 50.1% to 17.2% year-over-year despite revenue surging 191.6% to RMB 946 million. The margin erosion was primarily driven by below-cost semiconductor component resales and inventory impairments. Notably, the reported adjusted net profit of RMB 246 million included RMB 760 million in fair value gains from equity holdings, meaning the core GPU business remained loss-making after stripping out investment income. Research and development spending rose 23.8% to RMB 559 million, while operating cash outflow widened to RMB 2.79 billion.

Meanwhile, the broader semiconductor sector traded sharply lower, with SMIC down 2.76%, HUA HONG GRACE down 4.07%, BIREN TECH down 4.59%, MONTAGE TECH down 4.29%, and GIGADEVICE down 5.12%, amplifying downward pressure across the board.

(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.)