--- title: "Hong Kong stock movement: NUOBIKAN's stock price plummets by 20.30%, facing dual blows from financial fraud suspicions and capital withdrawal!" type: "News" locale: "en" url: "https://longbridge.com/en/news/285887283.md" description: "NUOBIKAN fell by 20.30%; AAC Technologies rose by 0.77%, with a transaction volume of HKD 169 million; Changguang Chenxin fell by 2.59%, with a transaction volume of HKD 156 million; Weisheng Holdings fell by 2.29%, with a transaction volume of HKD 136 million; China Railway Signal & Communication Corporation rose by 0.56%, with a market value of HKD 38.1 billion" datetime: "2026-05-11T05:51:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285887283.md) - [en](https://longbridge.com/en/news/285887283.md) - [zh-HK](https://longbridge.com/zh-HK/news/285887283.md) --- # Hong Kong stock movement: NUOBIKAN's stock price plummets by 20.30%, facing dual blows from financial fraud suspicions and capital withdrawal! **Hong Kong Stock Movement** NUOBIKAN plummeted 20.30%. Based on recent key news: 1. On May 11, after being included in the Hong Kong Stock Connect, NUOBIKAN's stock price continued to decline sharply. Market sentiment reversed, and funds withdrew after the good news was realized, leading to a stock price crash. NUOBIKAN's stock price has adjusted from a historical high of HKD 83.20, with a cumulative decline exceeding 70%. Source: CaiLianShe 2. On May 11, NUOBIKAN was mentioned in relation to a financial fraud incident, raising doubts about the authenticity of its performance. Although it was not confirmed to be directly involved in the fraud, the capital market is extremely sensitive to its associations, leading to further declines in its stock price. Source: ZhiTong Finance 3. On May 8, NUOBIKAN's stock price collapsed, with the market demanding that it provide not only a "story" but also "cash" in its reports. Future stock price recovery will depend on the company's ability to achieve substantial recovery of accounts receivable. Source: ZhiTong Finance. The overall performance of the AI industry is weak, with significant capital outflows. **Stocks with High Trading Volume in the Industry** AAC Technologies rose 0.77%. Based on recent news, 1. On May 8, AAC Technologies confirmed a bullish signal on the MACD daily chart above the zero axis, indicating that short-term buying power is re-gathering, and the medium-term trend still points towards a strong direction. The trading volume that day was approximately HKD 202 million, with volume at a medium to high level recently, indicating a recovery in capital participation in the consumer electronics components sector. On the news front, with the Apple WWDC conference approaching, the market is full of expectations for innovative features of the new generation iPhone, and upgrades to edge-side AI functions may drive an increase in the unit value of acoustic and haptic modules. Meanwhile, several flagship new models from the Android camp are being released intensively, and AAC Technologies, as a core supplier, is expected to benefit from the start of the new product stocking cycle. The Hong Kong stock electronic equipment sector showed a mixed performance that day, with semiconductor stocks weakened due to the pullback of US chip stocks, but the components sector gained favor from funds due to order certainty. Sunny Optical Technology rose slightly by 0.45% that day, providing bottom support for the sector leader. Technically, the stock price is running above the short-term moving averages, with the 5-day moving average inclined upwards forming the first support. If trading volume continues to expand and breaks through recent highs, upward momentum is expected to accelerate. It should be noted that the overnight weakness in the US chip sector may cause some emotional disturbance to the upstream of consumer electronics. The short-term trend is biased towards bullish, with product cycles and technical signals forming a positive resonance. However, if consumer electronics terminal demand falls short of expectations or major customer order rhythms are delayed, the current bullish expectations may face adjustments. The consumer electronics sector has shown mixed performance recently, and fluctuations in the US chip sector need to be monitored. Changguang Chuangxin fell 2.59%. Based on recent key news: 1. On May 8, Changguang Chuangxin announced that the overall coordinator fully exercised the over-allotment option, involving 9.7941 million H shares, accounting for approximately 15% of the total shares available for subscription globally. This move led to stock price volatility due to increased market concerns about equity dilution. Source: ZhiTong Finance 2. On May 8, Changguang Chuangxin plans to use the net proceeds of approximately HKD 379.8 million for future plans and capital allocation, which may enhance its growth strategy and capital capabilities This news has a positive impact on the stock price but fails to offset overall market pressure. Source: Huigang Communications On May 8th, Changguang Chenxin announced that the over-allotment shares will be used to facilitate the delivery of part of the H shares to the underwriters, who have agreed to delay the delivery. This move has raised market concerns about the delivery delay, affecting the stock price. Source: Zhitong Finance. The semiconductor industry has been quite volatile recently and requires attention. Weisheng Holdings fell by 2.29%. Based on recent news, 1. On May 8th, Weisheng Holdings announced that its subsidiary won a contract worth approximately HKD 327 million in a tender from the State Grid. Despite winning the contract, the market remains skeptical about its future profitability, leading to a decline in the stock price. 2. On May 7th, the market expressed concerns over intensified competition in the smart meter industry, affecting Weisheng Holdings' stock performance. Increased industry competition may compress profit margins, causing investor sentiment to turn cautious. 3. On May 6th, weak macroeconomic data affected overall market sentiment, putting pressure on Weisheng Holdings' stock price. Poor economic data may impact corporate earnings expectations, leading investors to adopt a wait-and-see approach. Increased competition in the smart meter industry requires attention. **Stocks ranked at the top of the industry by market capitalization** China Communication Technology, up 0.56%, with a market capitalization of HKD 38.1 billion, has no significant news recently. The trading is active, with clear capital flows. 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