Changes in Hong Kong stocks | Starlink Technology (06727) broke on the first day of listing, fell more than 8% during the intraday period and was included in Hong Kong Stock Connect on the first day of listing

The Zhitong Finance App learned that Starlink Technology (06727) officially landed on the main board of the Hong Kong Stock Exchange today. It fluctuated and declined after early trading. At one point, it fell more than 8%. As of press release, it decreased by 7.71% to HK$45.22, with a turnover of HK$225 million.

According to reports, as a leading AI infrastructure software provider in China, Starlink Technology mainly generates revenue by selling AI and big data infrastructure software products and related services to enterprises and government customers. According to an announcement from the Shanghai and Shenzhen Stock Exchange, Starlink Technology was transferred to the Hong Kong Stock Exchange list, which will take effect on September 21, that is, it can be included in the Hong Kong Stock Connect on the first day of the company's listing. In the first half of this year, Starlink Technology achieved revenue of 174 million yuan, a year-on-year increase of 14.1%, gross margin increased to 47.4%, and losses narrowed.

It is worth noting that Starlink Technology's holdings were continuously reduced by Tencent before and after the Hong Kong Stock Exchange was submitted. From February 2025 to July 2026, Starlink Technology disclosed Tencent's holdings reduction three times. The amount of holdings reduction was 1,259,300 shares, 1,718,600 shares, and 1,211,400 shares, respectively. The cash amounts were 71.1599 million yuan, 102 million yuan and 154 million yuan, respectively. After reducing its holdings, Tencent's holdings fell from 8.77% to 5.29%.