XUNLONG SCITECH

Xunlong Scitech (6715.HK) fell sharply in the morning session, opening at HK$74.800 and briefly touching an intraday high of HK$74.850 before declining steadily to a low of HK$71.100, closing the session at HK$71.900 — down 3.4% from the previous close of HK$74.400. The plunge was driven by persistent negative news flow: the stock has been highly volatile since its debut, with a 26% crash on July 6 followed by cumulative losses exceeding 10% in subsequent sessions, reflecting weak market sentiment. Despite being the world's largest caviar producer for 11 consecutive years since 2015, holding a 36.1% global market share in 2025, and owning the international brand 'KALUGA QUEEN,' the stock remains well below its debut opening price of HK$103.000, retreating over 30% from its 52-week high. Current total market capitalization stands at approximately HK$7.83 billion, with a P/E of 19.46x and P/B of 3.50x. Turnover was a mere 0.11%, with turnover of less than HK$8 million, indicating thin trading. However, the intraday low of HK$71.100 marks a new all-time low, suggesting potential for a technical rebound.

全球最大鱼子酱企业杭州千岛湖鲟龙科技 (6715.HK) 今日低开低走，单边下行，盘中最低触及 77.5 港元，较开盘价 80.95 港元下跌 4.3%，连带午盘后跌幅加速，最终收跌 5.1% 报 77.5 港元，创上市以来新低，距 52 周高点 120.2 港元已回落 35.5%，且显著低于 20 日均线 86.3 港元。此前公司上市首日飙涨逾 40% 至 103 港元，随后持续回调，近期更遭连续抛售，昨日及今日消息面显示 Xunlong Technology 盘中跌幅扩大至 7%，市场情绪持续低迷。尽管公司基本面稳固，2025 年全球鱼子酱市占率达 36.1%，但股价自上市次日即从高点拐头向下，加之 YTD 累计跌幅已达 32%，短期缺乏明显支撑信号。

Xunlong Technology (6715.HK) retreated sharply in the afternoon session, closing at HKD 80.200, down 5.09% from the previous close of 84.500. The intraday low of 80.200 defined a single-afternoon- decline pattern, contrasting with the morning's narrow range (83.65-84.45). Despite being the world's largest caviar enterprise with a 36.1% global market share in 2025, the stock has been correcting since its debut high of 120.2 on June 30, now 33.28% below the 52-week peak and 9.5% below its 20-day moving average (88.592). Today's volume was thin at 137,300 shares, with a total market cap of about HKD 8.73 billion, a P/E of 21.7x, and a P/B of 3.9x. While earlier newswires noted pre-listing controversies (e.g., shifting focus to Hong Kong away from mainland), no fresh negative catalysts emerged today, suggesting the sell-off may be primarily driven by ongoing post-IPO profit-taking.

Sturgeon Technology opened lower but recovered to close at HKD 84.9, up 0.5% on the day. The stock hit an intraday low of HKD 81 in the morning session before rebounding, then encountered resistance near HKD 86.3 in the afternoon. The volatile trading reflects post-IPO turbulence after a 40%+ surge on debut followed by sharp corrections. Today's rebound from the 52-week low of HKD 79.9 represents a 7% gain, yet the stock remains 28.9% below its 52-week high of HKD 120.2 and below the 20-day MA of HKD 92.1. The world's largest caviar company with 36.1% market share trades at a PE of 23.1x and PB of 4.2x, but has declined 25% YTD, suggesting market skepticism about sustaining its growth trajectory. Though recent reports highlighted controversies surrounding its Hong Kong listing, which may continue to weigh on sentiment.

Sturgeon Technology rallied 3.8% to close at HKD 85.95 from previous close of HKD 82.8, driven by bargain buying after its 26% plunge on debut yesterday. The stock bottomed at HKD 81.1 in morning session near 52-week low of HKD 79.9, then recovered to intraday high of HKD 87.9 in afternoon, resulting in an 8.4% intraday range. As the world's largest caviar producer with 36.1% global market share in 2025 (over 4x the second-largest), Xunlong opened 36.4% higher at HKD 103 on listing day before consecutive declines. Current price remains 28.5% below its 52-week high of HKD 120.2 and 9% under its 20-day MA of HKD 94.25, with YTD loss of 24.6%. Total market cap stands at approximately HKD 9.36 billion, with trailing PE of 23.3x and PB of 4.2x. While the rebound offers some relief, sustainability hinges on volume follow-through.