Core Viewpoint - The stock price of Xixiangfeng Group (HK02473) experienced a dramatic decline, dropping by 73.25% to HKD 3.05, resulting in a market capitalization loss of approximately HKD 12.917 billion, despite no significant adverse news reported [2]. Group 1: Stock Performance - On February 2, Xixiangfeng Group's stock fell by 76.4% during trading, reaching a new low since October 2024, with trading volume hitting a record high since its listing [2]. - The stock had previously surged from HKD 7.81 on January 9 to a peak of HKD 15.96 on January 22, marking a maximum increase of 104% [2]. Group 2: Business Developments - Xixiangfeng Group's core business includes "rent-to-buy" automotive retail, ride-hailing leasing, and related after-sales services [2]. - The company announced a memorandum of understanding on January 12, 2025, for a potential acquisition of 51% of Xiamen Kuangshi Technology Co., which specializes in millimeter-wave radar solutions for smart driving [2][4]. - A strategic cooperation agreement was signed on December 18, 2024, with New Stone Technology, focusing on the procurement and operation of unmanned vehicle products [4]. Group 3: Financial Performance - For the first half of 2025, Xixiangfeng Group reported revenues of HKD 769 million and a net profit of HKD 22.57 million, reflecting year-on-year growth of 16.8% and 15.9%, respectively [4]. - The revenue growth was primarily driven by significant increases in direct automotive retail and the expansion of its self-operated sales network, which grew from 89 to 110 locations [5]. - Revenue from automotive retail and financing reached HKD 607 million, with a year-on-year increase of 7.2%, while related automotive services generated HKD 104 million, up 16.6% [5].
喜相逢暴跌超73% 市值一天蒸发130亿港元 股价仅剩3港元