On September 2, ZJ INNOLIGHT (03308.HK) fell 3.19% in regular trading, trading at HK$995.5 per share, with turnover of HK$578 million. The decline came as the market unwound gains from a now-debunked rumor that had briefly lifted the stock the prior session.

On September 1, a screenshot circulated on social media platforms claiming the White House was considering exempting FCC restrictions on Chinese-made 800G/1.6T high-speed optical modules, which drove ZJ INNOLIGHT's Hong Kong shares up over 6% that day. However, the rumor was quickly identified as fabricated information, putting immediate reversal pressure on the prior session's sentiment-driven rally. Meanwhile, broader policy expectations that the FCC may restrict Chinese high-end optical modules from entering the U.S. market remain unresolved, continuing to weigh on the sector.

Notably, ZJ INNOLIGHT launched a major share buyback on September 1, repurchasing 374,100 A-shares at prices between RMB 838.16 and RMB 870.00 per share, spending approximately RMB 318 million. The company has authorized a total buyback budget of RMB 4 billion to RMB 8 billion for employee stock ownership plans or equity incentive programs.

(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.)