HK Stock Market Move | PLATT NERA(01949) plunges at the end of trading session with a trading volume surge, dropping over 90% at one point to hit a new low. This comes after a threefold surge in two months.

PLATT NERA (01949) plunged at the end of the day, hitting a new low of 0.101 Hong Kong dollars on volume. It is worth noting that the stock has been rising since mid-September, with a cumulative increase of three times in two months. As of the time of this report, it has fallen by 88.77% to 0.137 Hong Kong dollars, with a turnover of 122 million Hong Kong dollars. On the news front, PLATT NERA recently announced that it has signed a memorandum of understanding with independent third parties Guangzhou Zhuoer Jewelry Industry and Haikou Zhuoer Jewelry. The company plans to acquire all or part of the equity of Ganzhou Zhuoer, which specializes in providing comprehensive information technology facilities and solutions for industrial parks and enterprise customers. This potential transaction may signal the company's strategic entry into the software business in China. In September of this year, the board of directors adopted "PLATT NERA Limited" as the Chinese name of the company for identification purposes only on September 11. The Chinese stock abbreviation was also changed from "PLATT NERA" to "PLATT NERA". Before that, in June, the company announced a placement of up to 80 million new shares, equivalent to an expansion of 11.76% of the enlarged share capital; the placement price was 0.375 Hong Kong dollars, representing a discount of 18.48% compared to the previous trading day's closing price.