The Zhitong Finance App learned that Xinji Shaxi (03603) crashed in the afternoon and plummeted by more than 85% in the intraday period, to a low of HK$0.029, a record low. As of press release, it was down 84.4% to HK$0.034, with a turnover of HK$4.107 million, and the total market value fell below HK$50 million.
According to the news, Xinji Shaxi previously announced annual results. The Group's revenue was RMB 273 million, a year-on-year decrease of 8.39%; net loss was RMB 80.267 million, a year-on-year decrease of 52.06%. According to the announcement, the decrease in losses in 2023 was mainly due to a decrease in fair value losses on investment properties owned by the Group this year.
Zhitong Finance 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? ' China pointed out that the three stocks joined forces to plummet at the end of yesterday's session. China Tianrui Cement saw the deepest decline, reaching 99.04%, while Haosen Finance and Shengneng Group declined by 90.96% and 49.88%, respectively. The Zhitong Finance App suggests that due to the popularity of the Hong Kong stock market over the years, many apparently unrelated stocks actually have some kind of connection, and as long as one of these related stocks goes wrong, they will be involved in a large area and ignite a series of ships.