Another Hong Kong stock market crashed instantly, and the decline was as high as 80%. Investors were frightened.
Jiayi Holdings70% slump in 10 minutes
This year's gains are all "return to zero"
Listed in Hong Kong on February 28 this yearJiayi HoldingsJust shocked, the stock price plummeted from 5.1 Hong Kong dollars, plummeted 70% in 10 minutes, 30 minutes mad vented more than 80%, the lowest reported 0.82 Hong Kong dollars, erased all the increase since the listing, the market value evaporated nearly 2.2 billion Hong Kong dollars.
As can be seen from the above figure, from 10:21 to 10:31, there is no 70% in just 10 minutes.
Jiayi HoldingsKnown as the largest manufacturer of bridesmaid dresses in China, it was listed in Hong Kong at the end of February this year. The listed price was HK$0.98. In just three months, it rose to HK$5.28 per share, an increase of 400%. As a result, it suddenly collapsed 80% today. The increase since the listing has almost all returned to zero. The market value has evaporated by almost 2 billion a day.
Some investors lamented,Jiayi HoldingsBetween the new high and the new low, only one hour apart.
It is worth noting that yesterday (May 14),Jiayi HoldingsThe stock hit a new high, and the trading volume of the stock was abnormally enlarged, but the amplitude was only 3%. According to the analysis, it can be seen from the trend of the time-sharing chart that the main fund first raises the stock price through a small amount of funds, and then carries on the shipment to lower the stock price. After several cycles of operation, the main fund is completed.
This homophonic "grooming" company offers one-stop service for wedding dresses, bridesmaid dresses and special occasions. According to the prospectus,Jiayi HoldingsThe predecessor was the Jiayi Trading Company, which was established in Hong Kong in 1993. It mainly engaged in the wedding trade, and later expanded the product to special occasions and bridesmaid dresses. After ten years of trade, he finally established Dongguan Haoyi Garment Co., Ltd. in China in 2003, involved in the field of garment production and design, and set up the factory in Humen Town, Dongguan City, which is closer to Hong Kong.
As early as May 2, 2018,Jiayi HoldingsA prospectus was submitted to the Hong Kong Stock Exchange, but the campaign ended in failure.Jiayi HoldingsI did not feel discouraged, but re-issued the form on November 15 of the same year and successfully listed.
Jiayi HoldingsAccording to the prospectus, the net cash used in the company's business activities for the six months ended September 30, 2018 was 15.78 million yuan, and the cash and cash equivalents at the end of the period were 9.249 million yuan. From this data, it can be inferred that the company's funds are not plentiful.
According to the prospectus, the company's debt-to-equity ratio is 130.1%, and the debt-to-equity ratio is 88.6%.
Was highly concentrated by the Securities and Futures Commission
The Hong Kong Securities and Futures Commission pointed out in March thatJiayi HoldingsThe equity is highly concentrated.
The SFC pointed out that 15 shareholders held a total of 57,696,000 shares, which accounted for 11.1% of the issued share capital, together with 390,000,000 shares (75.0%) held by two major shareholders, and three cornerstone investors 35,712,000 shares (6.9%), all of which are equivalent to 93% of the company's total issued share capital, only 7% of the shares are held by other investors.
At that time, the regulator pointed out that since the equity is highly concentrated in minority shareholders, even if a small number of shares are traded, the stock price may fluctuate greatly. Investors who buy the company's stock should be careful.
This year, many Hong Kong stocks have collapsed.
April 25, Hong Kong stocksFuhui Building HoldingsAfter a midday afternoon, the company dipped sharply and fell more than 80% in 20 minutes, from HK$2.77 to HK$0.495. The market value evaporated by HK$ 3.63 billion, leaving only less than HK$ 800 million.
It is reported thatFuhui Building HoldingsIt was listed on October 30 last year. In less than half a year, the stock price rose from the issue price of 0.32 Hong Kong dollars to 2.98 Hong Kong dollars, and once rose more than 800%.
With the collapse of todayJiayi HoldingsSimilarly, the Hong Kong Securities Regulatory Commission used to name it.Fuhui Building HoldingsThe equity was highly concentrated. On February 22, Fuhui Construction had 19 shareholders holding 330 million shares, accounting for 20.6% of the total share capital. The major shareholder holds 1.2 billion shares, accounting for 75% of the total share capital, and 20 shareholders share 95.6% of the shares.
Similarly, in the three days before the plunge, the volume of Fuhui construction suddenly increased by tens of times, reaching a level of 10 million. It is alleged that there is a very obvious dealer manipulation.
On January 17 this year, Jiayuan International suddenly saw a plunge-style plunge. The stock price plunged from the opening price of 13.26 Hong Kong dollars to a minimum of 1.4 Hong Kong dollars, closing down 80.62%.
Compared with the A-share market, there is no limit on the price of the Hong Kong stock market, and it can support the T+0 trading method. The rich trading tools and innovative varieties have also increased the arbitrage space of the market, and some short-selling institutions are also eyeing the Hong Kong stock market. As a result, the Hong Kong stock market is destined to have a certain difference with the A-share market, which has also sounded the alarm for investors.
(Article source: China Fund News)