---
title: "Hong Kong Stock Movement: Shareholder reduction at MONTAGE TECH triggers market panic, stock price plummets 13.25%! Goldman Sachs' rating fails to reverse the trend"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288028989.md"
description: "MONTAGE TECH fell 13.25%; Semiconductor Manufacturing International Corporation fell 8.16%, with a transaction volume of HKD 17.2 billion; Hua Hong Semiconductor fell 5.59%, with a transaction volume of HKD 8.033 billion; GigaDevice fell 7.03%, with a transaction volume of HKD 1.974 billion; Biren Technology rose 13.00%, with a market value of HKD 148.3 billion"
datetime: "2026-05-29T07:42:28.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288028989.md)
  - [en](https://longbridge.com/en/news/288028989.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288028989.md)
---

# Hong Kong Stock Movement: Shareholder reduction at MONTAGE TECH triggers market panic, stock price plummets 13.25%! Goldman Sachs' rating fails to reverse the trend

**Hong Kong Stock Movement**

Montage Tech fell 13.25%. Based on recent key news:

1.  On May 28, Montage Tech's shareholder Shanghai Rongying reduced its stake in the company through a block trade at a transfer price of 250.08 CNY/share, with a transaction amount of approximately 3.058 billion CNY. This reduction led to a decline in market confidence in the company's stock price, causing it to drop.
    
2.  On May 28, Goldman Sachs reaffirmed its positive outlook on Montage Tech and raised its 12-month target price for both A-shares and H-shares, rating it as "Buy." Nevertheless, the news of the shareholder's reduction had a greater negative impact on the stock price.
    
3.  On May 27, Montage Tech's shareholders frequently reduced their holdings, cashing out approximately 22 billion CNY in total. The continuous reduction by shareholders raised concerns in the market about the company's future development, leading to a decline in stock price. The electronics industry is optimistic due to AI demand.
    

**Stocks with High Trading Volume in the Industry**

SMIC fell 8.16%. Based on recent key news:

1.  On May 26, the National Integrated Circuit Industry Investment Fund reduced its stake in SMIC by 7 million shares, leading to weakened market confidence in its future performance and putting pressure on the stock price. Source: Zhitong Finance
    
2.  On May 26, Huawei announced breakthroughs in chip technology, which temporarily stimulated an increase in SMIC's stock price, but the market held a wait-and-see attitude regarding its long-term impact, causing stock price fluctuations. Source: Now News Channel
    
3.  On May 28, the Hang Seng Index fell by approximately 880 points in May, with poor performance from technology stocks dragging down related stocks like SMIC. Source: Caixin News. The semiconductor industry is experiencing technological breakthroughs, leading to increased market volatility.
    

Huahong Semiconductor fell 5.59%. Based on recent key news:

1.  On May 28, Changxin Technology's IPO application was approved by the Shanghai Stock Exchange, becoming the largest IPO in A-shares this year, which negatively impacted Huahong Semiconductor's stock price. Changxin Technology's IPO aims to raise 29.5 billion CNY, making it the second-largest IPO in the history of the Sci-Tech Innovation Board, with Huahong Semiconductor's stock price dropping by 5.59%.
    
2.  On May 26, Huawei announced breakthroughs in semiconductor technology, stimulating a general rise in chip stocks. Huahong Semiconductor's stock price once rose over 20%, but then fell back, indicating a gap between market expectations for technological breakthroughs and actual performance.
    
3.  On May 27, Huahong Semiconductor's acquisition plan of Huali Micro attracted market attention. After the acquisition is completed, Huahong will become a comprehensive foundry covering the entire spectrum of mature processes from 40nm to 90nm, with the market holding a wait-and-see attitude towards its future development, leading to significant stock price fluctuations. Hong Kong stocks are undervalued, with significant capital flows.
    

GigaDevice fell 7.03%, with a trading volume of 1.974 billion HKD. Based on recent key news:

1.  On May 26, GigaDevice's controlling shareholder Zhu Yiming reduced his stake by 6.3299 million shares, accounting for 0.90% of the total share capital, reducing his holding ratio to 7.00%. This move raised market concerns about corporate governance and changes in the shareholder structure, leading to stock price fluctuations. Source: Viewpoint Network
    
2.  On May 26, GigaDevice Semiconductor's stock price deviation exceeded 20% over three consecutive days, constituting abnormal trading fluctuations. The company clarified that there are no major undisclosed matters and that production and operations are normal. Source: Zhitong Finance
    
3.  On May 27, with the IPO of Changxin Technology approaching, market attention on the storage industry has increased. GigaDevice Semiconductor holds a 1.8% stake in Changxin Technology, and the effect of related concept stocks is influencing its stock price. Source: Zhitong Finance. The storage industry cycle is on the rise, with strong market demand.
    

**Stocks ranked among the top in industry market capitalization**

Birun Technology rose by 13.00%. Based on recent key news:

1.  On May 26, the China Information Security Evaluation Center and the National Confidentiality Technology Evaluation Center released the "Announcement of Security and Reliability Evaluation Results," and Birun Technology's Birun™166 chip was rated as security and reliability level I. This assessment marks national-level recognition of Birun Technology's safety and reliability in the AI chip field, driving up its stock price.
    
2.  On May 27, the Hang Seng Index Company included Birun Technology in the Hang Seng Composite Index during its quarterly review, with changes to be implemented after the market closes on June 5. This change indicates that Birun Technology is expected to be included in the Hong Kong Stock Connect eligible stocks, attracting more southbound capital inflow and further boosting its stock price.
    
3.  On May 26, Credit Lyonnais released a research report indicating that domestic substitution and high-end optical interconnection demand are favorable for Birun Technology, and it is expected to benefit from the growth in market demand in the AI chip and hardware sectors, enhancing market confidence in its future performance. The demand for AI chips is growing, and domestic substitution is accelerating

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