On September 3, MONTAGE TECH fell 3.36% in regular trading, trading at 253.2 HKD/share, with turnover of HKD 355 million.

On the news front, CLSA recently cut its H-share target price from 454.2 HKD to 433.8 HKD, citing a Q2 gross margin decline of 8 percentage points quarter-over-quarter to 61.8%, driven by a rising revenue mix of lower-margin products and increased supply chain costs that weighed on earnings forecasts. Although the company reported H1 net profit attributable to shareholders of RMB 1.997 billion, up 72.3% year-over-year, the A-share had already surged 10.06% on August 27 ahead of the results release, fueling sustained profit-taking pressure on the H-share side.

On the capital flow front, JPMorgan and Morgan Stanley have continued to reduce their H-share holdings, while southbound funds have cumulatively net sold over 910,000 shares over the past 20 trading days, intensifying short-term selling pressure. The broader semiconductor sector also traded weak, with SMIC down 1.39%, GigaDevice down 2.37%, and Biren Tech down 3.56%, creating a drag through sector-wide resonance.

(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.)