HK Stock Market Move | Joinn Laboratories (06127) fell more than 6%, the controlling shareholder intends to reduce holdings of no more than 14.98 million A-shares.

Joinn Laboratories (06127) fell more than 6%, as of the time of writing, it dropped by 6.25%, to 19.8 Hong Kong dollars, with a turnover of 84.5944 million Hong Kong dollars. On the news front, on December 29, Joinn Laboratories announced that one of the company's actual controllers, Zhou Zhiwen, plans to reduce his holdings through centralized bidding or block trading within three months after 15 trading days from the announcement of the reduction plan, by no more than 14.98 million shares, not exceeding 20.0466% of his holdings, and not exceeding 1.99873% of the company's total share capital. As of the disclosure date of the announcement, Zhou Zhiwen held 74.726 million shares of Joinn Laboratories, accounting for 9.9704% of the company's total share capital. The shares were obtained before the IPO and through the capital reserve fund of the company. The reason for the reduction is personal capital needs.