--- title: "Hong Kong Stock Movement: MANYCORE TECH falls over 10%: New business layout fails to boost market confidence, oversubscription suppresses stock price" type: "News" locale: "en" url: "https://longbridge.com/en/news/284158443.md" description: "MANYCORE TECH fell 10.11%; Horizon Robotics-W fell 0.13%, with a transaction volume of HKD 331 million; SenseTime-W had a transaction volume of HKD 309 million; Paradigm Intelligence fell 4.01%, with a transaction volume of HKD 245 million; Pony.ai-W rose 2.25%, with a market value of HKD 36.4 billion" datetime: "2026-04-27T05:52:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284158443.md) - [en](https://longbridge.com/en/news/284158443.md) - [zh-HK](https://longbridge.com/zh-HK/news/284158443.md) --- # Hong Kong Stock Movement: MANYCORE TECH falls over 10%: New business layout fails to boost market confidence, oversubscription suppresses stock price **Hong Kong Stock Movement** MANYCORE TECH fell 10.11%. Based on recent news, 1. On April 24, MANYCORE TECH announced the issuance of 24.0925 million shares, leading to a decline in stock price. This issuance was conducted based on the full exercise of the over-allotment option, with an issue price of HKD 7.62 per share, putting pressure on the stock price. 2. On April 27, MANYCORE TECH announced plans to expand into new fields such as AIGC, AR/VR, and intelligent robotics, extending into industrial scenarios. Although the company has signed multiple cooperation agreements, these new businesses have not yet achieved scalable profitability, leading the market to adopt a wait-and-see attitude, which further caused the stock price to decline. 3. On April 24, ICBC International participated in the Hong Kong IPO issuance of hard tech companies such as Kylin, which received 2,153 times oversubscription, indicating strong market interest in hard tech companies. In contrast, MANYCORE TECH's spatial intelligence business is still in the early stages of development and has not attracted the same market attention, affecting its stock price. The competition in the hard tech field is fierce, with significant capital flows. **Stocks with High Trading Volume in the Industry** Horizon Robotics-W fell 0.13%. Based on recent key news: 1. On April 24, Horizon Robotics-W announced the grant of a total of 59.2026 million related Class B ordinary shares to 1,073 grantees under the post-IPO share incentive plan, with the closing price of the shares on the grant date being HKD 7.64. This news may lead to a short-term increase in market demand for the company's stock, but it did not significantly drive up the stock price. 2. On April 24, UBS released a research report stating that Horizon Robotics-W launched three new products at the press conference, including the high-end intelligent driving solution HSD V1.6, the Starry 6 integrated chip using 5nm technology, and the KaKaClaw automotive operating system. UBS gave the company a "Buy" rating and a target price of HKD 13.2, with a positive market reaction, but it did not immediately reflect in the stock price. 3. On April 25, Horizon Robotics-W signed a strategic cooperation agreement with global automotive parts system supplier Aptiv to jointly develop ADAS L2 to L2++ level full-scene intelligent driving products. This cooperation is expected to enhance the company's market position in the intelligent driving field, but its short-term impact on the stock price is limited. The competition in the intelligent driving industry is fierce, with accelerated technological iterations. SenseTime-W, with a trading volume of HKD 309 million. Based on recent key news: 1. On April 24, SenseTime-W completed the placement of 1.7 billion Class B shares at a placement price of HKD 1.91 per share, with net proceeds of approximately HKD 3.23 billion. This move increased the company's liquidity, which may support the stock price. Source: Zhitong Finance 2. On April 27, SenseTime announced a strategic cooperation with T3 Mobility at the Beijing International Auto Show, planning to launch Robotaxi trial operations within the year, showcasing the company's progress in the intelligent driving field and potentially enhancing market expectations for its future growth Source: Guandian.com On April 24th, SenseTime released its new intelligent cockpit and intelligent driving products during the Beijing Auto Show, covering L2 to L4 level autonomous driving capabilities, demonstrating the company's continued investment in technological innovation. Source: People's Financial News. The cooperation in the field of intelligent driving is accelerating, and market attention is increasing. Pony.ai-W fell 4.01%, with a transaction volume of HKD 245 million, and there have been no significant news recently. The trading is active, and the capital flow is evident. Considering the sector and industry trends, the stock shows significant volatility, and the specific reasons need further observation. **Stocks ranked among the top in industry market capitalization** Pony.ai-W rose 2.25%. Based on recent key news: 1. On April 27th, Guangzhou Pony.ai Technology Co., Ltd. increased its registered capital to USD 429 million, an increase of about 23%. This business change indicates an enhancement in the company's financial strength, which may boost market confidence and drive up the stock price. Source: Guandian.com 2. On April 24th, Pony.ai launched its Robotruck business full model and commercial progress at the Beijing Auto Show, collaborating with CATL to introduce the world's first L4 level unmanned light truck, promoting the application of autonomous driving technology in the logistics sector and enhancing market recognition of the company's technological strength. Source: Jinshi Data 3. On April 24th, Pony.ai announced that the total cost of the 2027 version of Robotaxi will be reduced to below RMB 230,000, and lowering costs will help improve market competitiveness and attract investor attention. Source: People's Financial News. Significant technological advancements in the autonomous driving industry have garnered high market attention ### Related Stocks - [00068.HK](https://longbridge.com/en/quote/00068.HK.md) ## Related News & Research - [Manycore Tech Fully Exercises Over-Allotment Option After Strong IPO Demand](https://longbridge.com/en/news/283375861.md) - [Your 3-6 months of emergency savings won't cut it - why the job market now demands an 18-month cash cushion](https://longbridge.com/en/news/286680876.md) - [Oops! Dot-com-era stocks are doing it again.](https://longbridge.com/en/news/286542789.md) - [Pa Shun International Calls EGM for Major Board Overhaul](https://longbridge.com/en/news/286670051.md) - [Samsung and labor union to meet in 'last chance' to avert strike](https://longbridge.com/en/news/286675762.md)