HK Stock Market Move | HUAJIN INTL (02738) recedes 38% after yesterday's stock price surged elevenfold. The company stated that it is unaware of the reason for the stock price fluctuation.

HUAJIN INTL (02738) has fallen by 38%. The stock surged sharply in the afternoon, rising over 11 times at one point. As of the time of this report, it has dropped 38%, trading at HKD 0.248, with a transaction volume of HKD 2.9985 million. In terms of news, regarding the recent unusual fluctuations in the company's shares, HUAJIN INTL stated that, upon inquiry, the board has confirmed that it is unaware of any reasons that might have caused such price fluctuations in the company's shares; to avoid the publication of any information that might lead to a false market for the company's securities; or any inside information required to be disclosed under Section XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). The board also confirmed that the group's business operations remain normal. It is reported that HUAJIN INTL is an investment holding company mainly engaged in cold steel processing. The company primarily processes hot-rolled steel coils into customized cold-rolled strips, steel plates, welded steel pipes, and coated products. In the first half of this year, HUAJIN INTL reported revenue of 132 million yuan, a year-on-year decrease of 82.06%; during the period, it posted a loss of 109 million yuan, a year-on-year narrowing of 79.11%.