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.
Afternoon, China Smart Technology (00464) fell more than 17%, as of the time of writing, it dropped by 15.15% to 1.68 Hong Kong dollars, with a trading volume of 13.95 million Hong Kong dollars.
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.
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