$BIREN TECH(06082.HK) fell by more than seven percentage points, with trading volume expanding to one and a half times. On the day when Hong Kong stock chip sector collectively adjusted, it was among the early decliners—secondary new AI chips lack earnings cushion, and when sentiment withdraws, it's like running naked. $Ambarella(AMBA.US) only declined slightly, as the valuation of edge AI had already been slashed in a previous round.
$BIREN TECH(06082.HK) has experienced significant volatility since its listing, with many likely having been trapped or having profited. How long can the scarcity premium of domestic GPUs last in the face of the reality of lock-up expirations and additional share issuances? Historically, the patience Hong Kong stocks have for scarcity concepts averages only two to three quarters.
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