Cambricon(SH:688256) Guan Cha Zhe Wang·2025-09-04 07:22Group 1 - The stock price of Cambrian Technology experienced a significant decline, dropping 14.45% to 1202 CNY per share, resulting in a market capitalization loss of approximately 840 billion CNY in one day [1] - Cambrian Technology's stock had previously surged over 200% from a low of 520.67 CNY per share to a high of 1587.91 CNY per share within a month, making it the focus of the market [2] - The company issued a risk warning indicating that its stock price might be detached from its current fundamentals, with an expected annual revenue of 5 to 7 billion CNY, which is below some analysts' expectations [2] Group 2 - Market rumors suggested that Alibaba was increasing orders for Cambrian's chips to 150,000 units to address supply issues from NVIDIA, but this was denied by Alibaba Cloud [3] - Cambrian Technology's stock price decline may also be linked to an index adjustment announcement, which will reduce its weight in the Sci-Tech 50 Index from approximately 15% to 10%, necessitating a sell-off of about 10 billion CNY worth of shares [3] - The overall market showed a downward trend, with major indices declining, while consumer sectors like retail and tourism saw gains [3]