CCTC (06951) shares plunged 5.32% in intraday trading on Thursday, as investor sentiment turned sharply negative following the conclusion of the IPO price stabilization period and the partial exercise of the over-allotment option.

The company announced that the stabilization period for its global offering ended on August 5, 2026. During this period, the stabilization agent had been actively purchasing shares in the market at prices between HK$86.05 and HK$100.30 to support the stock. With the expiry of this period, all price-supporting activities have ceased, removing a key floor that had been underpinning the share price.

Simultaneously, the sole overall coordinator partially exercised the over-allotment option, resulting in the issuance of 8.86 million additional H shares at the IPO price of HK$100.30 per share. These new shares, representing approximately 12.41% of the original offer size, are set to begin trading on August 10, further increasing the free float and diluting existing shareholders. The combination of lost underwriter support and an expanded share supply triggered the sharp intraday decline.