--- title: "Hong Kong Stock Movement: TIME INTERCON's placement of new shares triggers sell-off, stock price plummets 10.62%! Market sentiment is sluggish, and capital outflow intensifies" type: "News" locale: "en" url: "https://longbridge.com/en/news/286052757.md" description: "TIME INTERCON fell 10.62%; Contemporary Amperex Technology Co., Limited fell 1.67%, with a transaction volume of HKD 1.786 billion; Zhida Technology rose 0.44%, with a transaction volume of HKD 235 million; Ruipu Lanjun rose 0.93%, with a transaction volume of HKD 153 million; Sigenergy rose 6.33%, with a market value of HKD 138.9 billion" datetime: "2026-05-12T07:21:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286052757.md) - [en](https://longbridge.com/en/news/286052757.md) - [zh-HK](https://longbridge.com/zh-HK/news/286052757.md) --- # Hong Kong Stock Movement: TIME INTERCON's placement of new shares triggers sell-off, stock price plummets 10.62%! Market sentiment is sluggish, and capital outflow intensifies **Hong Kong Stock Movement** TIME INTERCON fell 10.62%. 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 news led to a significant drop in the stock price, with a trading volume of approximately HKD 768 million. 2. On May 12, TIME INTERCON announced that the net proceeds from the placement amounted to approximately HKD 2.885 billion, intended for the development of global business, repayment of bank loans, and strategic investments. The market reacted negatively to the placement plan, causing the stock price to continue to decline. 3. On May 12, TIME INTERCON's stock price hit a low of HKD 21.3, a drop of over 12%, maintaining the placement price. The placement news triggered investor sell-offs, leading to significant stock price fluctuations. The overall performance of Hong Kong stocks was weak, with noticeable capital outflows. **Stocks with High Trading Volume in the Industry** CATL fell 1.67%. Based on recent key news: 1. On May 12, CATL recorded cross-trading, with its stock price down 0.3% compared to the previous closing price, and a trading amount of HKD 864 million, indicating a decline in market demand for its stock, leading to a price drop. Source: Economic Information Daily 2. On May 12, Citigroup adjusted its commodity preference ranking, listing CATL as one of its preferred stocks. Despite good performance in lithium stocks, the market discounted the risks of slowing demand in China, affecting the stock price. Source: Citigroup report 3. On May 11, CATL's controlling shareholder donated 5 million shares to the Shanghai Jiao Tong University Education Development Foundation, slightly reducing the shareholding ratio. Although this move will not significantly impact the company's governance structure, it may affect market sentiment. Source: Company announcement. Demand in the lithium battery industry is rising, with increased market volatility. Zhida Technology rose 0.44%. Based on recent news: 1. On May 11, Zhida Technology recorded a large transaction in pre-market trading, with its stock price down 14.3% compared to the previous closing price. This transaction involved 4.0724 million shares, amounting to HKD 69.23 million, indicating a cautious short-term outlook from the market, leading to stock price fluctuations. Source: Economic Information Daily. The Hong Kong stock market has recently seen increased volatility, requiring attention. Ruipu Lanjun rose 0.93%. Based on recent key news: 1. On May 12, Ruipu Lanjun recorded a large transaction in pre-market trading, 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 to HKD 153 million. High trading volume typically indicates increased market attention on the stock, further supporting the price increase. 3. On May 12, Ruipu Lanjun's stock price was down 4.98% compared to the previous closing price, but it still recorded an increase. Despite the decline from the previous closing price, market demand for the stock remains strong, prompting the price to rise. Market interest in Ruipu Lanjun has significantly increased, with high trading volume **Stocks Ranked Among the Top in Industry Market Value** SigenEnergy rose by 6.33%. Based on recent key news: 1. On May 9, SigenEnergy participated in the Smart Energy Conference and Exhibition at the Sydney International Convention Centre, showcasing its latest SigenStor Neo residential energy system and SigenStack modular energy storage platform. This event enhanced the company's market influence in Australia and New Zealand, driving up the stock price. 2. On May 11, the global energy storage industry faced challenges, with the collaboration project between CATL and Ford being suspended, and Tesla reducing production capacity. Such events indicate the uncertainty in the global energy storage market, which may affect SigenEnergy's market expectations. 3. On May 9, Huawei accelerated the construction of the domestic semiconductor supply chain through Hubble Investment, strengthening the ecosystem of China's technology industry. This capital layout may have a positive impact on SigenEnergy's technological development and market competitiveness. 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