HK Stock Market Move | GPIXEL (03277) once fell more than 20% to a record low since listing as over 30 million restricted shares became eligible for trading.

GPIXEL (03277) fell more than 20% in early trading, hitting an intraday low of HK$44.3, a record low since listing. As of press time, it was down 15.09% at HK$47.42, with turnover of HK$197 million. On the news front, the six-month lock-up period for shares held by GPIXEL's cornerstone investors expired on October 16. On October 17, a total of 32.6452 million restricted shares of GPIXEL officially became eligible for trading, accounting for approximately 50% of the global offering and 7.3% of total share capital of approximately 445 million shares. In the first half of this year, GPIXEL achieved revenue of RMB 641 million, up 78.4% year on year, and net profit attributable to shareholders of approximately RMB 250 million, up 197% year on year. Of this, industrial imaging revenue was approximately RMB 530 million, up 101.7% year on year and accounting for 82.8% of total revenue, mainly driven by growth in demand for high-end industrial inspection and lithium battery and PCB inspection.