HK Stock Market Move | After resuming trading, SILKWAVE INC (00471) surged over 7%. Lenders forced the sale of 53.287 million pledged shares.

SILKWAVE INC (00471) rose more than 7% after resuming trading, following a heavy volume drop of over 70% in the previous trading day. As of the time of writing, it is up 3.85% at HK$0.27 with a turnover of HK$10.92 million. On the news front, SILKWAVE INC announced that on April 22, 2026, the company was notified by Chi Capital Holdings Ltd (CCH) (a major shareholder of the company) that it had failed to repay a loan in accordance with the terms and conditions of a loan agreement between CCH (as borrower) and an independent third party (as lender). Prior to the forced sale, CCH directly and indirectly held 70.77 million shares, accounting for approximately 12.68% of the company's issued share capital. According to the loan agreement, the loan was secured by a pledge of certain shares of the company held by CCH (pledged shares). Due to the failure to repay the loan as per the agreement, the company was notified that on April 21, 2026, the lender had enforced the sale of 53.28 million pledged shares (accounting for approximately 11.10% of the company's issued share capital). Following the forced sale and as of the date of this announcement, CCH's shareholding in the company has decreased to approximately 1.58%. After a significant decline in the stock price during the trading session on April 22, 2026, Mr. Zou Yifeng, an executive director, had approximately 24.35 million shares forcefully sold on the same day. Following the forced sale, Mr. Zou now holds 12.23 million shares, accounting for approximately 2.55% of the company's issued share capital.