Mountain High Holdings falls more than 60%, Company responds to issues of concentrated equity ownership.

On September 19, the stock of Mountain High Holdings in Hong Kong plunged more than 60% during trading. As of 11:40 am, the stock was trading at HK$5.48 per share, a decrease of 60.89%. On September 18, Mountain High Holdings announced that they were aware of a notice issued by the Hong Kong Securities and Futures Commission on that day. The Commission had recently conducted an inquiry into the ownership distribution of the company. The inquiry showed that as of September 1, 2025, 20 shareholders collectively held 24.00% of the company's shares. This, combined with the 68.46% held by the two main shareholders, amounted to 92.46% of the issued shares. Therefore, only 7.54% of the shares were held by other shareholders. Mountain High Holdings confirmed that as of September 1 and September 18, 2025, at least 25% of the company's issued shares were held by the public, in compliance with the Hong Kong Stock Exchange's rules on public shareholding.