Core Viewpoint - New Ming China (02699.HK) has experienced significant stock price declines, with a cumulative drop of nearly 90% over three trading days, raising concerns about unusual trading activity and potential underlying issues [2][3][6]. Stock Performance - On October 3, New Ming China's stock fell by 16.36%, following a drop of over 22% during intraday trading [2]. - The stock had already seen a sharp decline on September 30, closing down more than 16% after a late-session sell-off [3]. - On October 2, the stock price plummeted by 84.2%, marking a drastic decline [4]. - Over the three-day period, the stock price dropped from over 4 HKD per share to below 0.5 HKD per share [6]. Trading Volume - The trading volume surged significantly during the recent decline, with 24.45 million shares traded on September 30 (26.04% turnover rate), 111 million shares on October 2 (118.2% turnover rate), and 28.88 million shares on October 3 (30.75% turnover rate) [6]. - Prior to this decline, the average daily trading volume was less than 5 million shares, with an average turnover rate of 1.34% [6]. Company Announcement - The company's board acknowledged the unusual fluctuations in stock price and trading volume but stated they were unaware of any reasons for these changes or any material information that needed to be disclosed [8]. - The board confirmed that the company's business operations remain normal and that there have been no significant changes in its financial condition [8]. Financial Performance - For the first half of 2025, New Ming China reported total revenue of approximately 33.1 million RMB, a decline of about 57.9% from 78.7 million RMB in the same period last year [8]. - The company recorded a loss attributable to shareholders of approximately 137 million RMB, an improvement from a loss of 335 million RMB in the previous year, primarily due to reduced impairment of development properties and borrowing penalties [8]. - As of June 30, 2025, the company's total assets were approximately 2.125 billion RMB, while total liabilities were about 5.822 billion RMB [8]. Debt Situation - As of the end of the first half of 2025, the company had not made payments on interest-bearing bank and other loans amounting to approximately 1.213 billion RMB, constituting a default [9].
暴跌近90%！这家公司 紧急公告→