HK Stock Market Move | LITIAN PICTURES (09958) plunged 55% in midday trading. It has fallen nearly 70% in the past three days due to a significant loss caused by the devaluation of its TV series.

LITIAN PICTURES (09958) plunged 55% in intra-day trading, with a cumulative drop of nearly 70% in the past three days. As of the time of writing, it has fallen 37.75% to HK$0.155, with a trading volume of HK$10.02 million. On the news front, LITIAN PICTURES had applied for a trading halt for nearly two months due to a delay in financial report, and resumed trading on November 24 after releasing the financial report. The financial performance for the eighteen-month fiscal year ending June 2025 showed revenue of approximately RMB 133 million, but a net loss of around RMB 554 million, mainly attributed to the delay in realizing revenues from some drama series copyrights held by the company, resulting in significant impairment losses; difficulties in recovering payments from some drama series already sold also led to impairment losses on receivables.