---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40251003.md"
description: "$HC GROUP(02280.HK) was a star in the era of B2B information platforms, starting around the same time as Alibaba's 1688. However, it failed to complete the transition from an information platform to a trading platform over the past decade—this is the root cause of its accumulated losses of 4.1 billion yuan. It now holds a 64.20% stake in Zhaoxin, which is aiming to list on the Beijing Stock Exchange. If the listing is successful and the results are consolidated, HC Group's book equity might see a one-time improvement, which is one of the few remaining stories it can tell. But I don't recommend betting on it at this level. The share price of 0.169 HKD doesn't correspond to "cheap," but to a "liquidity trap"—it's easy for you to buy, but you might have to sell at a 20% to 30% discount to complete the transaction. I have a principle when looking at penny stocks: I avoid any stock with a daily turnover below 5 million HKD, and HC Group is clearly below this line."
datetime: "2026-04-28T08:17:42.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40251003.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40251003.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40251003.md)
author: "[最难忘的物件](https://longbridge.com/en/profiles/27514819.md)"
---

# $HC GROUP(02280.HK) was a star in the era of B2B i…


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