The Zhitong Finance App learned that New City Construction and Development (00456) crashed in the afternoon, dropping more than 70% at one point. As of press release, it fell 58.7% to HK$1.21, with a turnover of HK$9.886 million.
According to the news, according to documents disclosed by the Hong Kong Stock Exchange, on June 13, Zhang Xiaomu sold 8.5479 million new city construction and development shares worth about HK$13.5057 million; on June 19, he sold 1,424,700 shares of new city construction and development, worth about HK$2,251,000. After reducing holdings twice, the ratio of good positions fell from 16.46% to 4.94%.
According to the company's 2022 financial report released in March this year, the annual turnover of new city construction and development was HK$180 million, down 9% year on year; loss was HK$128 million, up 84% year on year. Mainly due to an increase of approximately 100% to HK$70 million in impairment losses held by the Group on sale of properties held by the Group compared to 2021.