Zhenrong Tech Says Foldable-Display, AI Liquid-Cooling Revenue Each Under 1% After 20% Three-Day Drop

The disclosure is a rare case of a company explicitly puncturing its own narrative: the two themes that likely drove the rally are, by management's own numbers, immaterial to revenue. That reframes the selloff as positioning unwinding rather than a fundamental break, and puts the burden on the next set of disclosures to show whether either business scales beyond rounding-error status. The gap between the stock's run and the industry's trailing multiple is the other thread worth watching, since it suggests the correction was as much about valuation as about the revenue mix.