On September 14, ZJ INNOLIGHT (03308.HK) fell 3.76% in regular trading, trading at HK$1,116.0 per share, with turnover of HK$154 million.

The decline comes after the stock accumulated significant gains over recent sessions, driven by the FCC's final rule clearing Chinese optical communication firms from its restriction list, as well as Goldman Sachs and Citi initiating coverage with Buy ratings and target prices of HK$3,267 and HK$1,524, respectively. Institutional position adjustments have emerged as a key headwind. Hong Kong Exchange disclosures show Morgan Stanley reduced its H-share long position from 6.44% to 4.86%, while its short position rose from 0.63% to 0.76%. Additionally, Goldman Sachs (Asia) Securities transferred out approximately 1.2341 million shares, with a transfer value of HK$2.089 billion, signaling clear profit-taking by major institutions.

The company recently reported robust H1 results, with revenue of RMB 417.78 billion, up 182.49% year-over-year, and adjusted net profit of RMB 136.51 billion, up 241.70%. The company has also conducted consecutive large-scale A-share buybacks totaling over RMB 1.2 billion between September 8 and 11.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)