--- title: "Hong Kong Stock Movement: TIME INTERCON's placement of new shares triggers market panic, stock price plummets by 10.86%! Use of funds raises investor concerns" type: "News" locale: "en" url: "https://longbridge.com/en/news/286023128.md" description: "TIME INTERCON fell 10.86%; Contemporary Amperex Technology Co., Limited fell 0.46%, with a transaction volume of HKD 475 million; Ruipu Lanjun rose 2.49%, with a transaction volume of HKD 100 million; Zhongwei New Materials rose 2.39%, with a transaction volume of HKD 55.81 million; Sigenergy rose 4.82%, with a market value of HKD 137.1 billion" datetime: "2026-05-12T02:12:45.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286023128.md) - [en](https://longbridge.com/en/news/286023128.md) - [zh-HK](https://longbridge.com/zh-HK/news/286023128.md) --- # Hong Kong Stock Movement: TIME INTERCON's placement of new shares triggers market panic, stock price plummets by 10.86%! Use of funds raises investor concerns **Hong Kong Stock Movement** TIME INTERCON fell 10.86%. Based on recent key news: 1. On May 12, TIME INTERCON announced the placement of 138 million new shares at a price of HKD 21 per share, a discount of approximately 13.58% compared to the previous trading day's closing price. This move led to a significant drop in stock price, and the market is taking a wait-and-see attitude towards the company's future development. Source: Zhitong Finance 2. On May 12, the net proceeds from the placement are approximately HKD 2.885 billion, planned for global business development, loan repayment, and strategic investments. The market's reaction to the use of funds is mixed, with some investors concerned about the efficiency of fund usage. Source: Guandian Network 3. On May 12, after the placement, the shareholding ratio of major shareholder Luxshare Precision will decrease to approximately 61.87%, and the change in shareholder structure has attracted market attention, putting pressure on the stock price. Source: Hong Kong Stock Exchange Announcement. The electrical equipment sector has recently performed strongly, with significant capital inflow. **Stocks with High Trading Volume in the Industry** CATL fell 0.46%. Based on recent key news: 1. On May 8, CATL's shareholders transferred shares from Citibank to Goldman Sachs Securities, with a transfer market value of HKD 3.405 billion, accounting for 2.35%. This move may reflect a change in investor confidence regarding the company's future development, leading to stock price fluctuations. 2. On May 10, SENASIC passed the listing hearing on the Hong Kong Stock Exchange, with CATL holding 4.88% of its shares. This investment may enhance CATL's influence in the chip sector, attracting market attention. 3. On May 11, CATL's controlling shareholder Xiamen Ruitian donated 5 million shares to Shanghai Jiao Tong University, slightly reducing its shareholding ratio. This move demonstrates the company's commitment to social responsibility, but has limited impact on the stock price. The lithium battery market demand is strong, and the industry is experiencing high prosperity. Ruipu Lanjun rose 2.49%. Based on recent key news: 1. On May 12, Ruipu Lanjun recorded a large transaction before the market, with a transaction amount reaching HKD 76.25 million. This large transaction indicates strong market interest in the stock, driving the price up. 2. On May 12, Ruipu Lanjun's trading volume significantly increased, reaching HKD 100 million. High trading volume typically indicates increased investor confidence in the stock, further driving the price up. 3. On May 12, Ruipu Lanjun's stock price rose 2.49% compared to the previous closing price. This increase reflects the market's positive expectations for the company, attracting more buying interest. Market interest in Ruipu Lanjun has significantly increased, with high trading volume. Zhongwei New Materials rose 2.39%. Based on recent key news: 1. On May 12, Zhongwei New Materials stated during an investor relations event that production scheduling is good, orders are sufficient, and the structure is high-quality, with resource guarantees and capacity layout matching the growth demand for orders, expanding related businesses in new energy materials. This news has enhanced market confidence in the company's future growth, driving the stock price up. 2. On May 11, Zhongwei New Materials announced that it will distribute a final dividend of HKD 3.8 per 10 shares on July 22, 2026. The dividend distribution plan has raised investors' expectations for the company's financial stability, promoting the stock price increase On May 11th, rumors regarding the lithium battery consumption tax were clarified. Zhongwei New Materials stated that according to the current fiscal and tax policies, lithium-ion batteries are exempt from consumption tax, and the company's main upstream lithium battery materials are not subject to consumption tax, alleviating market concerns about the impact on the company's profits and supporting the rise in stock prices. The demand in the new energy materials industry is growing, with significant capital inflow. **Stocks ranked among the top in industry market capitalization** Sigen Energy rose by 4.82%. Based on recent key news: 1. On May 9th, Sigen Energy participated in the 2026 Smart Energy Conference and Exhibition at the Sydney International Convention Centre. The company showcased the SigenStor Neo integrated residential energy system and promoted the SigenStack modular commercial energy storage platform, emphasizing service support in Australia and New Zealand. This move increased market attention to its products, driving up stock prices. 2. On May 11th, the global energy storage industry faces challenges, with Chinese companies' expansion in the global market affected by policy and economic fluctuations. Nevertheless, Sigen Energy continues to maintain competitiveness through technological innovation and market expansion, enhancing investor confidence. 3. On May 9th, Huawei's Hubble Investment built an industrial chain ecosystem through capital ties, promoting the development of the domestic semiconductor supply chain. As part of the energy storage industry, Sigen Energy benefits from the support of this ecosystem, further enhancing market expectations. 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