The Zhitong Finance App learned that Kaituo Pharmaceutical-B (09939) once fell by more than 21%, and the intraday low of HK$1.03 hit a new market low. As of press release, it fell 16.03% to HK$1.1, with a turnover of HK$13.2661 million.
According to the news, according to the Shenzhen Stock Exchange announcement, due to the implementation of component stock adjustments in the Hang Seng Composite Large-Cap Index, Mid-Cap Index, and Small-Cap Index, Kaituo Pharmaceutical will be removed from the Hong Kong Stock Exchange's securities list under the Shenzhen-Hong Kong Stock Connect in accordance with the relevant provisions of the “Shenzhen Stock Exchange's Shenzhen-Hong Kong Stock Connect Business Implementation Measures”, which will take effect from today. According to reports, Kaituo Pharmaceutical continued to lose money during the three years of its listing, and the cumulative loss amount has exceeded 2 billion yuan. As of the end of June last year, the company's cash and cash equivalents were only 691 million yuan, and the cash flow situation was not optimistic.