Hong Kong Stock Movement: MININGLAMP-W plummets 20.21% on its third day of listing, with high valuation and unstable market sentiment as the main reasons

Hong Kong Stock Movement MININGLAMP-W fell sharply by 20.21%. Based on recent news, On November 5th, MININGLAMP-W plummeted significantly on its third day of listing, hitting a low of HKD 204, a decline of 19.2%. Nevertheless, the current price is still 53.8% higher than the offering price of HKD 141. The Hang Seng Index latest reported at 25,895 points, down 56 points. Source: Zhitong Finance On November 4th, MININGLAMP-W fell over 7% on its second day of listing, closing at HKD 269.6, with a trading volume of HKD 133 million. Investment banks have shown low interest in this stock, with no ratings given by investment banks in the past 90 days. Source: Zhitong Finance On November 3rd, MININGLAMP-W debuted at HKD 280, 98.6% higher than the listing price of HKD 141. It reached a high of HKD 309.8, closing at HKD 286, which is 102.8% higher than the listing price. Source: Zhitong Finance. The Hang Seng Index has been volatile recently, reflecting unstable market sentiment. Stocks with High Trading Volume in the Industry SenseTime-W fell by 3.10%. There has been no significant news recently; trading is active with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and specific reasons need further observation. no_news Horizon Robotics-W fell by 0.83%. Based on recent key news: On November 5th, Haitong International raised the target price for Horizon Robotics to HKD 12.5 and maintained an "Outperform" rating. Horizon is collaborating with ZF Group to develop intelligent driving systems, expected to be mass-produced in 2026, enhancing market confidence. On November 5th, Volkswagen Group and Horizon Robotics established a joint venture to develop system-level chips in China, further expanding market space. On November 5th, CARIAD and Horizon established a joint venture, CoolCore, planning to independently develop chips in China, with mass production expected in the next 3 to 5 years and an investment amount of approximately USD 200 million. Cooperation in the intelligent driving industry is accelerating, with broad market prospects. Fourth Paradigm fell by 4.36%, with a trading volume of HKD 394 million, and there has been no significant news recently. Trading is active with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and specific reasons need further observation. Stocks with High Market Capitalization in the Industry Kingdee International rose by 0.61%. Based on recent news, On November 4th, Kingdee International signed a strategic cooperation agreement with Yuntian Lifeng, where both parties will use "enterprise digital software ecosystem" and "domestic AI computing foundation" as dual engines to promote seamless integration of AI reasoning capabilities into the entire process of enterprise digitalization, enhancing the level of enterprise intelligence. On November 4th, Kingdee International announced at the 2025 Global Innovators Conference that "Kingdee Cloud" will be fully upgraded to "Kingdee AI," and launched a new enterprise-level AI native super entrance "Xiao K," to assist enterprises in accelerating their intelligent transformation On November 4th, Kingdee International signed strategic cooperation agreements with multiple companies, aiming to promote the deep implementation of AI technology in various industries such as manufacturing, energy, finance, and technology, and to create replicable and scalable industry intelligent solutions. The application of AI technology in the digital transformation of enterprises is accelerating