Huasheng International Holdings (01323) issued an announcement. The company's board of directors is concerned that on September 28, 2023, the company's share price will drop and trading volume will rise.
To the full knowledge, knowledge and conviction of the directors after making all reasonable enquiries, the Board confirmed that, apart from the inside information disclosed in this announcement, it is not aware of any cause of the unusual fluctuation in the stock price and trading volume, or any information that must be published to avoid a false market for the company's securities, or any inside information that needs to be disclosed pursuant to the insider information provisions of Part XIVA of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong.
Mr. Huang Weisheng, the company's executive director, chairman of the board of directors and CEO, informed the board of directors that due to a sharp drop in stock prices, 838.6 million shares held by Double Star Global Limited (wholly owned by Mr. Huang); and 8.394 million shares held by Mr. Wong (accounting for about 20.18% of the company's total issued share capital) were forcibly sold on the market by Double Star and Mr. Huang's stock brokers on September 28, 2023. Immediately after the completion of the compulsory sale, Shuangxing and Mr. Huang's equity percentages in the company were reduced to about 5.81% of the company's total issued share capital.
As of the date of this announcement, the Group continued to engage in the following businesses: production and sale of ready-to-mix commercial concrete; and provision of debt lending services. As of the date of this announcement, the Group's business operations have remained normal.