Xunlong Tech (6715.HK) slipped 1.61% during regular trading to HK$76.50.

The decline occurred despite the company recently signing a strategic cooperation memorandum with Italian technology services group Lutech. The partnership aims to jointly develop AI transformation solutions compliant with EU regulations and advance commercial deployment of AI Token factories in Europe, marking a significant step toward international expansion of the company's data tokenization capabilities.

Additionally, Xunlong Tech recently completed a private placement and convertible bond issuance, raising approximately HK$2.35 billion to fund its global expansion plans.