HK Stock Market Move | RONGZUN INT'L H (01780) dropped by over 52% again, falling nearly 70% in two days. The controlling shareholder completed the placement of 60% of the company's shares.

RONGZUN INT'L H (01780) plunged by over 52%, with a cumulative decrease of nearly 70% in the past two days. As of the time of writing, it has dropped by 39.09%, trading at 0.67 Hong Kong dollars, with a turnover of 57.8386 million Hong Kong dollars. In terms of news, RONGZUN INT'L H recently announced that its controlling shareholder had completed a private placement of 372 million shares, accounting for 60% of the company's existing issued share capital as of the announcement date. After the completion, Mr. Liu Seiken and Dr. Jinzi Hao both held 93 million shares through the seller, accounting for 15% of the company's total issued share capital. Therefore, Mr. Liu Seiken, Dr. Jinzi Hao, and the seller are no longer the controlling shareholders of the company. It is worth noting that on October 31st, a shareholder of RONGZUN INT'L H transferred the stocks from Jiegood Securities to Beta International Securities, with a transfer value of 4.35 billion Hong Kong dollars, accounting for 43.81% of the total value of the warehouse.