HK Stock Market Move | IFBH (06603) fell over 10% and hit a new low, with its performance in the first half of the year cut in half and removed from the Hong Kong Stock Connect list.

IFBH (06603) fell more than 10%, hitting a new listing low of HK$3.905 during trading. As of the time of writing, it was down 9.32%, quoted at HK$3.94, with a transaction volume of HK$2.9204 million. On the news front, IFBH has officially been excluded from the Hong Kong Stock Connect list starting from September 7. After being removed, investors in the Hong Kong Stock Connect will only be able to sell and cannot buy. Notably, the key reason for IFBHs exclusion from Hong Kong Stock Connect is its persistently low market capitalization. As of the time of writing, IFBHs market value is only around HK$1 billion, having evaporated by over 90% from its initial listing peak. In the first half of this year, IFBH reported revenue of USD 50.395 million, a decrease of 46.65% year-on-year; net profit attributable to shareholders of the parent company was USD 4.582 million, down 69.4% year-on-year. In the financial report, IFBH explained that the decline in revenue was primarily due to weak consumer sentiment in the first half of the year, along with additional pressure on the beverage industry from adverse weather. Furthermore, global shortages of PET, other packaging materials, and coconut water have limited production progress and product supply, negatively impacting sales.