HK Stock Market Move | JST GROUP (06687) fell more than 5%, stock price hit a new low and fell below the issue price. All excess rights issue were exercised.

JST GROUP (06687) fell more than 5%, hitting a low of 28.82 Hong Kong dollars during trading, marking a new low since its listing, and falling below the issue price of 30.6 Hong Kong dollars. As of the time of writing, it was down 5.16% at 29.4 Hong Kong dollars, with a trading volume of 175.541 million Hong Kong dollars. In terms of news, JST GROUP announced that on November 15, the overall coordinator exercised all 15% of the additional share allotment rights, involving a total of 10.2249 million shares. Priced at 30.6 Hong Kong dollars per share, the additional net proceeds were approximately 300 million Hong Kong dollars. In addition, the stabilizing price period for the global offering ended on the same day. During this period, the stabilizing price operator China International Finance did not buy or sell any shares. According to public information, JST GROUP is the largest e-commerce SaaS ERP provider in China. According to data from Zhui Shi Consultancy, based on the related revenue in 2024, it holds a market share of 24.4% (surpassing the combined market share of the second to fifth largest participants). In addition, according to Zhui Shi Consultancy's data, based on the related revenue in 2024, the company is the second largest e-commerce SaaS provider in mainland China, with a market share of 7.1%.