HK Stock Market Move | EASY SMART GP (02442) drops over 9%, with its share price pulling back nearly 60% from its intra-month high, and it expects its full-year loss to widen significantly.

EASY SMART GP (02442) dropped over 9%, with its current share price having pulled back nearly 60% from its intra-month high. As of press time, it was down 9.01% at HK$63.1, with a turnover of HK$19.9949 million. On the news front, on the evening of September 17, EASY SMART GP issued a profit warning, expecting the loss attributable to owners of the company for the year ending June 30, 2026 to be no more than approximately HK$32 million, compared with a loss of only about HK$500,000 in the prior year. The main reasons were a decrease in revenue and gross profit as previously large public projects were completed or nearing completion, as well as declining profit margins on new bids due to intense market competition. Earlier, on September 14, the company also announced that, effective October 6, it would change its board lot size from 2,000 shares to 100 shares. It is worth noting that before this round of selling, the company had just completed a round of "valuation leap" on the back of the AI concept. On August 18, controlling shareholder Tianfu International transferred 102 million shares to AI company Guangte Yuanzhi, with consideration being approximately 45.88% equity in its wholly owned subsidiary. Guangte Yuanzhi became the second-largest shareholder, while Tianfu International's controlling position remained unchanged.