HK Stock Market Move | GAODI HOLDINGS (01676) fell further by 31% yesterday after experiencing a sharp drop of 67% the day before. The company is set to announce its full-year performance at the end of the month.

GAODI HOLDINGS (01676) continued to drop by 31%, with the stock having plummeted 67% yesterday. As of the time of writing, it had fallen by 27.78%, to 0.39 Hong Kong dollars, with a trading volume of 5.7718 million Hong Kong dollars. On the news front, GAODI HOLDINGS will hold a board meeting on September 30 to approve the annual performance. The company had previously released its interim performance for the six months ending December 31, 2023, with revenue increasing to approximately 196 million yuan, a year-on-year growth of 60.93%; the company's attributable loss narrowed to 40.312 million yuan, a decrease of 9.68% year-on-year. As of December 31, 2023, GAODI HOLDINGS had cash and cash equivalents of only 41.982 million yuan. It is worth noting that in August of this year, GAODI HOLDINGS issued 10.01 million new shares at a subscription price of 1.4 Hong Kong dollars per share; by the end of 2023, the company successfully issued 24 million new shares at a subscription price of 1.8 Hong Kong dollars per share. The company raised over 57 million Hong Kong dollars through the two issuances. In addition, there have been recent movements of transferring and storing stocks. On August 9, GAODI HOLDINGS underwent a transfer of securities, with the outgoing broker being Zhongtai International Securities and the incoming broker being HSBC Hong Kong, with a transfer ratio of 3.86%; on August 16, the stock had a storage movement, with a storage ratio of 6.95%, and stored with the broker Zhongtai International Securities.