HK Stock Market Move | HSSP INTL(03626) falls by 20% in the afternoon with a total daily fluctuation exceeding 82%. The controlling shareholder sells 13.976 million shares.

HSSP INTL resumed trading today and surged over 50% at one point, but fell in the afternoon with the decline continuing to widen. As of the time of writing, the stock has dropped by 11.88% to HK$2.82, with a trading volume of HK$53.27 million, and a daily fluctuation of 82.5%. In terms of news, HSSP INTL announced that on October 31, the controlling shareholder Wade Investment SPC Ltd (wholly owned by Chairman Mr. Lu Xiaoma) sold 13.976 million shares in the open market. After the sale, the controlling shareholder holds approximately 123.6 million shares, accounting for 67.21% of the company's share capital. The announcement stated that the controlling shareholder noticed that the stock price had surged significantly from HK$1.41 per share (the comprehensive offer price as of June 16), and considering the concentration of company equity, the controlling shareholder sold shares to realize a profit and reduce the concentration of company equity. The controlling shareholder will continue to explore opportunities to sell more shares, but currently has no intention of reducing its ownership below 50%.