After plummeting by 91%, it once soared by 730%!
Hong Kong stocks decoded
2024-04-10 10:52Posted on the official account of Guangdong Hong Kong stock decoding
On April 9, China Tianrui Cement (01252. HK), Shengneng Group (02459. HK), Haosen Financial Technology (03848.HK) HK) suffered a flash crash and plummeted, and its market value shrank sharply.
Among them, Haosen Financial Technology fell by nearly 91% throughout the day, with a share price of only HK$0.29 per share and a market value of HK$46 million.
In fact, in the Hong Kong stock market, it is not uncommon for small-capitalization companies to soar and plummet, and there are often multiple factors behind flash crashes, such as "liquidation" of pledge disks, "liquidation" of pig killing disks, etc., among which the frequency of "liquidation" due to pledge disks is the highest.
Judging from the stock price trend, Haosen Financial Technology suddenly suffered a "cliff-like" decline at the end of the market, which is similar to the situation of pledge liquidation.
This can also be corroborated to a certain extent by the trading volume. On April 9, the trading volume of Haosen Fintech was significantly enlarged.
It is worth noting that, from a fundamental point of view, Haosen financial technology has also seen a situation of "increasing revenue but not increasing profits".
Haosen Fintech is an investment holding company mainly engaged in microfinance and loan business, operating through three business segments. Among them, the Microfinance and Loan-related Services segment is mainly engaged in the provision of microcredit and post-loan related services for individuals, companies and property mortgage loans, the Financial Leasing and Factoring Related Services segment is mainly engaged in the provision of direct financial leasing, sale-leaseback, factoring and related advisory services, and the Securities Trading and Brokerage and Other Financial Services segment is mainly engaged in the provision of securities brokerage, share placement, margin financing and other financial services.
The company's customer base mainly includes airlines, healthcare service providers and energy-saving equipment suppliers.
According to the 2023 annual report released by Haosen Financial Technology, the company achieved 113 million yuan (RMB, the same below) during the period, a year-on-year increase of 13.60%, while the net profit attributable to the parent decreased by 3.89% year-on-year to 23.173 million yuan, mainly due to the increase in the expected net provision for credit losses on loans and accounts receivable, and the decrease in other income.
Some investors also believe that in the context of the challenges faced by the microfinance industry as a whole, the sharp drop in the share price of Haosen Fintech also reflects the market's concern about the company's future development prospects.
However, at the opening of the market on April 10, Shengneng Group and Haosen Fintech ushered in a rebound, of which Haosen Fintech once soared by 730%, and the trading volume further increased significantly.
This action also looks a bit like a deliberate shuffle to harvest retail investors.
Author: Yan XIV