Canke Technology Shares Fall More Than 7% After July 3 Block Trade Discount

Canke Technology shares fell more than 7%. According to Jin10, the market focus followed a July 3 block trade in Canke Technology totaling 140,000 shares at 45.8 yuan per share, a 12.43% discount to that day’s market close. Market participants said the company is in a transition period, that its AI scale is insufficient to support performance growth, and that accounts receivable are high, putting pressure on cash flow. In response, Canke Technology said it has learned that the block trade did not involve selling by major shareholders and was likely conducted by small and medium shareholders, so it did not involve any content requiring disclosure. Regarding the high level of accounts receivable, the company said this is mainly related to the industries of downstream customers, with an average collection cycle of a little over 200 days. The company said it plans to gradually reduce the proportion of software business with lower gross margins.