HK Stock Market Move | HSSP INTL(03626) fell more than 22% as the controlling shareholder reduced its holdings last Friday and will focus on selling more shares opportunities.

HSSP INTL (03626) plunged more than 22%, falling 22.22% to HK$2.59 as of press time, with a turnover of HK$12.2449 million. In terms of news, HSSP INTL recently issued a statement regarding the recent drop in stock price and increase in trading volume. Last Friday (October 31), controlling shareholder Wade Investment SPC Ltd (wholly owned by Chairman Mr. Luo Xiaoma) sold 13.976 million shares on 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 controlling shareholder noted that the stock price has risen 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 premium and hopes to reduce the concentration of company equity. The controlling shareholder will continue to monitor opportunities to sell more shares, but currently has no intention of reducing its ownership stake to below 50%.