Core Viewpoint - The stock price of Xinyi China (02699.HK) has experienced a significant decline, dropping nearly 90% over three trading days, raising concerns among investors and stakeholders [1][4][10]. Price Movement - On October 3, Xinyi China's stock fell by 16.36%, following a drop of over 22% during intraday trading [1]. - The stock had previously plummeted by 84.2% on October 2, and on September 30, it fell over 16% [4][5]. - Cumulatively, the stock price decreased from over 4 HKD per share to below 0.5 HKD per share in three trading days [6]. Trading Volume - Trading volume surged significantly, with 24.45 million shares traded on September 30, 111 million shares on October 2, and 28.88 million shares on October 3, indicating heightened market activity [7]. - Prior to this decline, the average daily trading volume was less than 5 million shares, with an average turnover rate of 1.34% [8]. Company Announcement - The company’s board acknowledged 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 [10]. - The board confirmed that the company's business operations remain normal and that there have been no significant changes in its financial status [10]. Financial Performance - For the first half of 2025, Xinyi China reported total revenue of approximately 33.1 million RMB, a decline of about 57.9% compared to 78.7 million RMB in the same period last year [10]. - 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 [10]. - As of June 30, 2025, the total asset value was approximately 2.125 billion RMB, while total liabilities were about 5.822 billion RMB [10]. Debt Situation - As of the end of the first half of 2025, the company had not paid approximately 1.213 billion RMB in interest-bearing bank and other loans according to the repayment schedule, constituting a default [11].
大跌近90%，这家公司，紧急公告