Core Viewpoint - The stock price of Sangao Holdings (00412.HK) has plummeted by 16.23% to HKD 3.87 per share, marking a cumulative decline of approximately 78% since September, indicating a severe downturn in performance [2][3]. Group 1: Stock Performance - As of October 9, Sangao Holdings' stock price reached HKD 3.87, down 16.23% [2]. - The stock has experienced a dramatic drop of 76.02% in a single day on September 19, closing at HKD 3.36, erasing previous gains [3]. - Following a brief recovery due to a buyback plan, the stock has again fallen to HKD 3.87, resulting in a 40% decline from its yearly high [3]. Group 2: Regulatory Issues - The Hong Kong Securities and Futures Commission (SFC) flagged Sangao Holdings for "highly concentrated shareholding," revealing that over 90% of its issued shares are held by a small number of shareholders [3]. - On October 8, the Hang Seng Index Company announced that Sangao Holdings would be removed from the Hang Seng Composite Index and 10 other indices due to its failure to meet inclusion standards, effective October 24 [4]. - The removal from these indices is expected to negatively impact the company's reputation and could lead to forced sell-offs by funds tracking these indices, further exacerbating the stock's volatility [4].
遭恒指剔除！山高控股股价再度大跌逾16%