Zhongbao New Materials (02439) dived at the end of the session. The stock price plummeted 85%, and the total market value fell below HK$500 million. As of press release, it decreased by 75.93% to HK$0.65, with a turnover of HK$195 million.
Zhitong Finance App learned that Zhongbao New Materials (02439) dived in late trading, its stock price plummeted 85%, and its total market value fell below HK$500 million. As of press release, it decreased by 75.93% to HK$0.65, with a turnover of HK$195 million.
According to the news, on October 3, 2023, Zhongbao New Materials announced that the company's controlling shareholders Lvsetianye and Lvsesenlin have signed an agreement with no less than six buyers, and Lvsetianye and Lvsesenlin will sell a total of 160 million shares of the company to the buyer. The number of shares the controlling shareholder of Zhongbao New Materials plans to sell this time accounts for about 16% of the company's total share capital.
At the end of November last year, the Zhitong Finance App published “Is Zhongbao New Materials (02439) entering a tug-of-war time with “roller coaster” fluctuations after a new high in stock prices?” China pointed out that as the stock price of Zhongbao New Materials continues to rise, the company's investment value may need to be treated rationally by investors. After all, as far as fundamentals are concerned, the company's industry is small and typically policy-driven, and the certainty of growth is clearly questionable.