HK Stock Market Move | CARLINK TECH (02531) falls more than 18%, stock price soared more than six times in six months since its listing, named by the Hong Kong Securities and Futures Commission for highly concentrated ownership.

CARLINK TECH (02531) fell more than 18%, it is worth noting that during the period from July 15 to December 24 last year, the stock had a maximum increase of 6.6 times. As of January 14, 2025, the closing price of the company's shares was 29.7 Hong Kong dollars, an increase of 532% from the listing price of 4.7 Hong Kong dollars. As of the time of publication, it has fallen by 17.11% to 23.5 Hong Kong dollars, with a turnover of 419,000 Hong Kong dollars. On the news front, on January 15, CARLINK TECH was named by the Hong Kong Securities and Futures Commission for its highly concentrated shareholding. The announcement showed that the Hong Kong Securities and Futures Commission recently inquired about the company's shareholding distribution. The inquiry results showed that on January 2, there were 20 shareholders, including 3 executive directors of the company, holding a total of 348 million shares of the company, equivalent to 94.94% of the company's issued share capital. Therefore, the company has only 18.5595 million shares, accounting for 5.06% of the issued shares, held by other shareholders. In addition, the company's previous announcement showed that the shares held by CARLINK TECH's cornerstone investors and controlling shareholders were unlocked on January 14, 2025.