HK Stock Market Move | Ganfeng Lithium Group (01772) fell nearly 4% after announcing that it is being investigated and prosecuted for corporate crimes.

Ganfeng Lithium Group (01772) fell nearly 4% as of the time of drafting, down 3.85% to 52.5 Hong Kong dollars with a trading volume of 360 million Hong Kong dollars. On the news front, Ganfeng Lithium Group recently announced that it has received a notice of prosecution from the Yichun Public Security Bureau on December 29, accusing the company of insider trading. The case has been transferred to the procuratorial organs for examination and prosecution. Ganfeng Lithium Group stated that as of now, all the company's production and operation activities are running normally and orderly. The matter involved in this case is a specific historical event previously disclosed by the company, and is not expected to affect its normal production and operation. It is understood that the alleged insider trading by Ganfeng Lithium Group mainly involves trading of stocks of another company in the lithium battery industry, Jiangxi Special Electric Motor.