HK Stock Market Move | CHINA UPTOWN (02330) plummets 75% in intraday trading, giving back gains of the past two months. The stock has recently seen several instances of unusual transfer movements.

CHINA UPTOWN (02330) plunged 75% during trading, hitting a low of 0.125 Hong Kong dollars, erasing all gains since the beginning of October. As of the time of writing, it has fallen by 51.2%, trading at 0.244 Hong Kong dollars with a transaction amount of 32.4333 million Hong Kong dollars. On the news front, CHINA UPTOWN has seen several instances of transfer movements recently. On October 28, a shareholder transferred shares to Yuan Ku Securities with a market value of 18.4912 million Hong Kong dollars, accounting for 16.67%; on November 17, shares were transferred from Huiying Securities to Guangdong Commerce International Securities, with a transfer market value of 17.4886 million Hong Kong dollars, accounting for 7.43%; on November 21, shares were transferred from China Galaxy Securities Hong Kong to Hang Seng Securities, with a transfer market value of 17.8843 million Hong Kong dollars, accounting for 7.45%. It is worth noting that CHINA UPTOWN previously announced that the placement had been completed on October 28. A total of 75.4743 million shares of placement shares were successfully allocated to three underwriters at a price of 0.180 Hong Kong dollars per share according to the terms and conditions of the placement agreement, representing approximately 16.67% of the company's enlarged issued share capital following the placement.