HK Stock Market Move | CHINA IN-TECH (00464) fell more than 17% in the afternoon, with mid-term earnings dropping nearly 24% year-on-year. Completed rights issue raised over HK$100 million net.

CHINA IN-TECH (00464) fell over 17% in the afternoon, down 15.15% to HK$1.68, with a trading volume of HK$13.9598 million. On the news front, CHINA IN-TECH released its interim results as of the end of September, with the group generating revenue of HK$43.601 million, a decrease of 23.76% year-on-year; a net loss of HK$19.04 million, a decrease of 18.96% year-on-year. In addition, the company completed a subscription for shares raising a net of HK$102.9 million. The company announced earlier this month that it plans to issue shares at a discount of nearly 20% for business development, loan repayment, and general operating funds.