The three stocks were suddenly laundered at the end of the market yesterday, and a sharp collapse trend occurred at the same time. Today, China Tianrun Cement (01252) announced the suspension of trading, and Haosen Fintech (03848) and Shengneng Group (02459) rebounded violently during the intraday period. As of press release, Haosen Fintech rose 541.51% to HK$3.4; Shengneng Group rose 35.71% to HK$2.85.
The Zhitong Finance App learned that the three stocks were suddenly laundered at the end of the market yesterday, and at the same time, there was a flash collapse and sharp decline trend. Today, China Tianrun Cement (01252) announced the suspension of trading, and Haosen Fintech (03848) and Shengneng Group (02459) rebounded violently during the intraday period. As of press release, Haosen Fintech rose 541.51% to HK$3.4; Shengneng Group rose 35.71% to HK$2.85.
According to the news, Shengneng Group issued an announcement stating that after making all reasonable inquiries about the Company's relevant circumstances, the board of directors confirmed that it was unaware of any reason leading to the fluctuation, or any information that must be disclosed to avoid causing a false market in the Company's securities, or any insider information required to be disclosed in accordance with Part XIVA of the Securities and Futures Ordinance. The Board of Directors also confirmed that the Group's business operations have remained normal and that there have been no significant changes in the Group's business operations and financial situation.
The Zhitong Finance App said, “Hong Kong stocks suddenly plummeted to zero at the end of the session, and the stock price of China Tianrui Cement (01252) fell 99%! What happened? ' According to the data, Tianrui Cement's full-day turnover was HK$24.38 million, while the company's market value before it plummeted was about HK$14.1 billion. It is possible to use a turnover of more than 20 million to knock out 99% of the price of a stock worth more than 14 billion. The first reason is that the purchase order disappeared, and the buyer was unable to even organize the funds of more than 20 million, leaving it free to fall to zero. Second, the supply is highly marginal, and shareholders' interests are highly consistent. Any party sells off the overall situation; other parties can only follow suit, leading to a stampede.