HK Stock Market Move | FLOWING CLOUD (06610) fell over 14% in the afternoon, reaching a historic low. It is recommended to consolidate 20 shares into 1.

FLOWING CLOUD (06610) fell more than 14% in the afternoon, hitting a new low of 0.163 Hong Kong dollars. As of the time of writing, it was down 14.06% at 0.165 Hong Kong dollars, with a total transaction amount of 6.5239 million Hong Kong dollars. In terms of news, FLOWING CLOUD announced a proposal to consolidate every 20 shares into 1 share, with the trading unit remaining at 1000 shares per lot. The proposal is subject to approval by shareholders. The announcement stated that based on the closing price of 19.2 Hong Kong cents on October 20, after the share consolidation, the value of each trading unit will be adjusted from 192 Hong Kong dollars to 3840 Hong Kong dollars, and the proposed share consolidation will correspondingly increase the trading price of each consolidated share. Additionally, as most banks/securities firms charge a minimum trading fee for each security transaction, the share consolidation will reduce the overall transaction and handling fees for buying and selling shares as a percentage of the market value of each trading unit.