HK Stock Market Move | HAO TIAN INTL (01341) falls more than 4% to hit a historic low, with funds raised by the company to expand licensed corporate financing and securities lending business.

HAO TIAN INTL (01341) fell more than 4% again, hitting a record low of HK$0.098. As of the time of writing, it is down 3.85% at HK$0.1, with a turnover of HK$39.7351 million. On the news front, HAO TIAN INTL recently announced a placement of 2.49 billion new shares at HK$0.118 per share, a slight premium of 0.85% to the previous trading day's closing price. The net proceeds from the placement amount to HK$28.7 million, intended for expanding licensed entity financing and securities lending business. The company's interim results show a revenue of HK$41 million, a decrease of 52.33% year-on-year; the company's attributable loss is HK$36 million, a decrease of 49.3% year-on-year. The decrease in revenue is mainly due to improved liquidity among customers in the current stock market environment, leading to a decrease in demand for margin financing services.