--- title: "Hong Kong Stock Movement: MININGLAMP fell 15.13% on its third day of listing, with the market questioning its long-term value, leading to volatility" type: "News" locale: "en" url: "https://longbridge.com/en/news/264351177.md" description: "MININGLAMP-W fell 15.13%; SenseTime-W fell 3.10%, with a transaction volume of HKD 1.301 billion; Horizon Robotics-W fell 2.37%, with a transaction volume of HKD 870 million; Fourth Paradigm fell 5.02%, with a transaction volume of HKD 354 million; Kingdee International fell 0.34%, with a market value of HKD 52.4 billion" datetime: "2025-11-05T06:06:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/264351177.md) - [en](https://longbridge.com/en/news/264351177.md) - [zh-HK](https://longbridge.com/zh-HK/news/264351177.md) --- # Hong Kong Stock Movement: MININGLAMP fell 15.13% on its third day of listing, with the market questioning its long-term value, leading to volatility **Hong Kong Stock Movement** MININGLAMP-W fell by 15.13%. Based on recent key news: 1. On November 5th, MININGLAMP-W's stock price plummeted significantly on the third day after its listing, reaching a low of HKD 204, a decline of 19.2%. Nevertheless, it still recorded a 53.8% increase compared to the offering price. Market uncertainty regarding its future performance has led to stock price volatility. Source: Zhitong Finance 2. On November 3rd, MININGLAMP-W was listed for the first time, opening at a price 98.6% higher than the offering price, and closing the day at HKD 290.6, approximately 1.06 times the offering price. The first-day performance was strong, but subsequent market reactions were below expectations. Source: Guandian Network 3. On November 4th, MININGLAMP-W fell over 7% on the second day of listing, but rose 106.1% yesterday. Investment banks have shown low interest in this stock, with no ratings from investment banks in the past 90 days, raising doubts about its long-term value in the market. Source: Zhitong Finance. The Hong Kong stock market has recently seen increased volatility, and risks need to be monitored. **Stocks with High Trading Volume in the Industry** SenseTime-W fell by 3.10%. Based on recent news: 1. On November 5th, TianTong Vision submitted a listing application to the Hong Kong Stock Exchange, with SenseTime as one of its investors. Market uncertainty regarding its future performance has led to a decline in stock price. TianTong Vision's L4-level solution revenue has significantly increased, but net losses remain substantial. 2. On November 3rd, market attention towards AI entrepreneurs has increased, and as a representative company in the AI field, SenseTime has been affected by market sentiment fluctuations. The rapid iteration of young entrepreneurs and the transformation of business models have raised concerns among investors. 3. No other significant news recently. The AI industry as a whole is experiencing considerable volatility, and investors should exercise caution. Horizon Robotics-W fell by 2.37%. Based on recent key news: 1. On November 5th, Haitong International released a research report, giving Horizon Robotics-W an "Outperform" rating and raising the target price to HKD 12.5. The company is collaborating with ZF Group to develop intelligent driving systems, expected to be mass-produced by 2026. This collaboration enhances Horizon Robotics' market position, and despite the stock price decline, long-term growth prospects are viewed positively. Source: Zhitong Finance 2. On November 4th, Bernstein analysts gave Horizon Robotics-W a buy rating, indicating market confidence in its technology and market potential. Source: TipRanks 3. On October 25th, TR | OpenAI – 4o maintained a hold rating on Horizon Robotics-W, reflecting a cautious market attitude towards its short-term performance. Source: TipRanks. The technology industry has significant growth potential, with notable capital inflows. Fourth Paradigm fell by 5.02%, with a trading volume of HKD 354 million, and there has been no important news recently. Trading is active, with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and specific reasons need further observation **Stocks Ranked Among the Top in Market Capitalization in the Industry** Kingdee International fell by 0.34%. Based on recent key news: 1. On November 4th, Kingdee announced that "Kingdee Cloud" has been fully upgraded to "Kingdee AI," and launched a new enterprise-level AI native super entrance "Xiao K." This initiative aims to accelerate the intelligent transformation of enterprises and improve operational efficiency. According to Kingdee's financial report, the contract signing amount related to AI in the first half of 2025 has exceeded 150 million yuan, indicating strong market demand for its AI products. Source: 36Kr 2. On November 4th, Kingdee signed a strategic cooperation agreement with Yuntian Lifeng, with both parties using "enterprise digital software ecosystem" and "domestic AI computing power base" as dual engines to promote the application of AI technology throughout the enterprise digitalization process. This cooperation marks the launch of the first domestic project for the deep integration of "domestic computing power engine + enterprise-level software ecosystem," which is expected to enhance Kingdee's competitiveness in the AI field. Source: Viewpoint Network 3. On November 4th, Kingdee joined hands with multiple enterprises to sign strategic cooperation agreements aimed at promoting the application of AI technology in various industries such as manufacturing, energy, finance, and technology. This ecological collaboration model is considered by the industry to help form a "co-creation sample" for the AI transformation of Chinese enterprises, promoting the deep integration of AI technology and management innovation. Source: Pingwan AI technology application accelerates, industry transformation is significant ### Related Stocks - [02718.HK](https://longbridge.com/en/quote/02718.HK.md) ## Related News & Research - [Exploring Three Undiscovered Gems in the Middle East Market](https://longbridge.com/en/news/286881831.md) - [Nvidia’s AI Lead Is Back in Focus as Wolfe Research Doubles Down](https://longbridge.com/en/news/286680544.md) - [Justin Wolfers Warns 'Mess' In Middle East Will Continue Through The Midterms, Wonders If Republicans In Congress Will 'Step In' To Save Their Jobs](https://longbridge.com/en/news/286721396.md) - [Uzbekistan raises $604m in landmark dual IPO debut](https://longbridge.com/en/news/286956985.md) - [ZAWYA: Dubai Autodrome, a subsidiary of Union Properties, closes standout season with 88,700+ experiences and major events line-up](https://longbridge.com/en/news/287043713.md)