Understanding the Market | CHINASILVER TEC experienced a massive flash crash, dropping over 80% at one point during trading, after previously surging fourfold

CHINASILVER TEC experienced a significant flash crash, with its stock price dropping over 80% at one point. The stock had previously surged, with a cumulative increase of 4 times from May 20 to June 4. As of the time of writing, it has fallen 77.17%, trading at HKD 0.105, with a transaction volume of HKD 137 million. It is reported that CHINASILVER TEC is an investment holding company primarily engaged in the manufacturing and trading of light-emitting diode (LED) lighting and single-sided, double-sided, and multi-layer printed circuit boards (PCBs). In February of this year, the company released its second interim results for the 12 months ending December 31, 2024, reporting a revenue of approximately HKD 40.3 million, a year-on-year decrease of 84.6%, mainly due to a decline in PCB product sales; the loss attributable to shareholders increased to approximately HKD 52.9 million. Notably, since mid-April, the company has experienced multiple changes in warehouse transfers. On April 23, CHINASILVER TEC had a warehouse transfer anomaly, with deposits made to the broker Shenwan Hongyuan Securities Hong Kong, with a warehouse value of HKD 18.48 million, accounting for 19.41%; transfers were also noted on May 12, 14, 19, and 22