HK Stock Market Move | CARLINK TECH (02531) falls more than 5% again and has been named by regulators. The controlling shareholder and cornerstone investors will not be eligible to "enter the market" in March as their shareholdings have recently been unlocked.

CARLINK TECH (02531) fell by more than 5% again, with the stock dropping more than 30% in intraday trading yesterday. During the period from July 15 to December 24 last year, the stock had a maximum increase of up to 6.6 times. As of January 14, 2025, the company's closing price was 29.7 Hong Kong dollars, up 532% from the listing price of 4.7 Hong Kong dollars. As of the time of writing, it fell by 5.15% to 24.2 Hong Kong dollars, with a turnover of 1.35 million Hong Kong dollars. On the news front, CARLINK TECH was previously named by the Hong Kong Securities and Futures Commission for highly concentrated equity ownership. The announcement showed that the SFC recently conducted an inquiry into the distribution of the company's equity. The inquiry results showed that as of January 2, 20 shareholders including 3 executive directors of the company collectively held 348 million shares of the company, equivalent to 94.94% of the company's issued share capital. Therefore, the company only has 18.5595 million shares, accounting for 5.06% of the issued shares, held by other shareholders. It is worth noting that according to previous institutional predictions, CARLINK TECH was originally expected to be included in the Hong Kong Stock Connect on March 10, 2025. However, after being warned by the SFC for highly concentrated equity ownership, its eligibility for inclusion in the stock connect will be suspended once until the issue of highly concentrated equity ownership is resolved. In addition, the company previously announced that the shares held by CARLINK TECH's cornerstone investors and controlling shareholders were unlocked on January 14, 2025.