Goldwind Science & Technology (2208.HK) edged down 1% in Hong Kong trading to HK$10.81, reversing an intraday surge that briefly lifted the stock to HK$11.70.

The wind-turbine maker opened as much as 7% higher after Landspace — in which Goldwind holds a stake — completed a 10-kilometre vertical-landing test with its Zhuque-3 Y2 reusable rocket. The headline propelled Goldwind's Shenzhen-listed shares to the daily limit-up.

Gains in Hong Kong proved short-lived, however, as profit-taking quickly erased the advance. The stock swung between HK$11.70 and HK$10.72, with turnover reaching HK$443 million.