Core Viewpoint - The recent significant decline in the stock price of Xinning China (02699.HK) has raised concerns among investors, with a cumulative drop of nearly 90% over three trading days, prompting the company to issue a statement regarding unusual trading activity [2][5][10]. Stock Performance - On October 3, Xinning China's stock price fell by 16.36%, following a drop of over 22% earlier in the day [2]. - The stock experienced a dramatic decline of 84.2% on October 2, and a total drop of over 16% on September 30 [5][6]. - Over the past three trading days, the stock has plummeted from over 4 HKD per share to below 0.5 HKD per share [7]. - 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 a substantial increase in trading activity [7][8]. Company Financials - For the first half of 2025, Xinning China reported total revenue of approximately 33.1 million RMB, a decrease of about 57.9% compared to the same period last year [11]. - 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 [11]. - As of June 30, 2025, the company's total assets were approximately 2.125 billion RMB, while total liabilities stood at about 5.822 billion RMB [12]. - The company has defaulted on approximately 1.213 billion RMB in bank and other borrowings, as it has not made payments according to the loan agreement [13]. Company Response - The board of directors 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 [10]. - The board confirmed that the company's business operations remain normal and that there have been no significant changes in its financial condition [10].
暴跌近90%！这家公司，紧急公告→