HK Stock Market Move | GREEN TEA GROUP (06831) drops over 4% to a new listing low; share price has halved from its intra-year high.

GREEN TEA GROUP (06831) fell over 4%, touching HK$4.405, a new low since listing, with the current share price having halved from its intra-year high. As of press time, it was down 4.34% at HK$4.405, with a turnover of HK$6.2166 million. On the news front, according to a recent research report by Daiwa, GREEN TEA's same-store sales in September and the Golden Week holiday are expected to fall by mid-to-high double digits year-on-year, affected by food safety incidents. It is understood that in August this year, the company was caught up in a "DDVP disinfection" controversy, with media reports exposing that Xiamen Lvlinsen Environmental Technology Co., Ltd. had long used DDVP to carry out disinfection for dozens of chain restaurant companies, including GREEN TEA Restaurant. It is worth noting that on September 21, GREEN TEA GROUP announced that Partners Gourmet, the second-largest shareholder and a unit of Swiss private equity firm Partners Group, had sold off all of its shares through off-market transactions, completely exiting its position. On the same day, Xu Ruijie, a non-executive director appointed to the board by the second-largest shareholder, announced her resignation.