HK Stock Market Move | FORTIOR(01304) falls nearly 8% again, shareholder Shanghai Huaxin plans to reduce its shareholding by not more than 3% of the company's shares.

FORTIOR (01304) fell by nearly 8%, reaching a 5.87% decline as of the time of writing, at 186 Hong Kong dollars, with a turnover of 1.24 billion Hong Kong dollars. On the news front, Fortior Technology (Shenzhen) Co. announced that due to its own funding needs, shareholder Shanghai Huaxin intends to reduce its shareholding by no more than 3.00% of the total share capital, through centralized bidding or block trading, with a maximum of 3.4176 million shares. The reduction period is within three months after fifteen trading days from the disclosure date of the announcement. Public information shows that FORTIOR (Fortior Technology (Shenzhen) Co.) is a chip design company that specializes in the design and development of BLDC motor drive control chips. According to Frost & Sullivan data, the group is the first chip design company in China to focus on the design of BLDC motor drive control chips; as of December 31, 2023, the group's share in the Chinese BLDC motor main control and drive chip market reached 4.8% (by revenue), ranking sixth, and the group is the only Chinese company among the top ten companies in this market.