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].

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][4]. Group 1: Stock Performance - On October 3, New Ming China's stock fell by 16.36%, marking the third consecutive day of declines [2]. - The stock price dropped from over 4 HKD per share to below 0.5 HKD per share, with a peak decline of 84.2% on October 2 [3]. - Trading volume surged, with 11.1 million shares traded on October 2, compared to an average daily volume of less than 500,000 shares in the previous 30 days [3]. Group 2: Company Announcements - 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 [3][4]. - The board confirmed that the company's business operations remain normal and that there have been no significant changes in its financial condition [4]. Group 3: 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 [4]. - 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 [4]. - 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, indicating a slight decrease in asset value from the end of 2024 [4].

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].

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].