Hong Kong Stock Movement: CHINA IN-TECH plans to place new shares, raising market concerns, stock price plummets 16.67%

Hong Kong Stock Movement

CHINA IN-TECH fell 16.67%. Based on recent key news:

1. On November 7, CHINA IN-TECH announced a proposed placement of 117 million new shares, accounting for approximately 15.48% of the enlarged share capital. The placement price is HKD 0.9 per share, representing a discount of about 19.64% compared to the closing price on November 6. This news led to a decline in market confidence in the company's stock price, resulting in a 16.67% drop.

2. On November 6, the company announced that the net proceeds of approximately HKD 102.9 million would be used for business development, loan repayment, and general working capital. Despite the clear use of funds, market concerns about equity dilution intensified, further pressuring the stock price.

3. Recent fluctuations in market demand for electronic hairdressing products and information technology system platform development services have affected investor expectations for CHINA IN-TECH, leading to stock price volatility. Concerns about equity dilution have impacted the stock price.

Top Stocks by Industry Trading Volume

Haier Smart Home rose 1.86%. Based on recent news,

1. On November 7, Haier Smart Home received a new utility model patent authorization for a "freezer," which improves product insulation and user experience, driving the stock price up. Source: Tianyancha APP

2. On November 7, Haier Smart Home showcased AI technology-enabled smart home products, including refrigerators and washing machines, further enhancing brand premium capability and market competitiveness. Source: Haier Group WeChat Official Account

3. On November 7, Haier Smart Home established a "10+N" innovation R&D system globally, promoting technological innovation and market expansion, which boosted investor confidence. Source: Tianyancha APP. The competition in the smart home market is intensifying, with technological innovation becoming key.

Midea Group rose 1.51%. Based on recent key news:

1. On November 7, Midea Group announced the repurchase of 1.3088 million A shares at a repurchase price of RMB 76.12-77.13 per share. This move demonstrates the company's confidence in its own value, driving the stock price up. Source: Zhitong Finance

2. On November 9, Midea Group released its financial report, showing a year-on-year revenue growth of 21% in new energy and industrial technology, and a 25% increase in smart building technology revenue. These growth figures enhanced market confidence in the company's diversified transformation, further supporting the stock price rise. Source: 36Kr

3. On November 10, Midea Group accelerated its "de-appliance" transformation, with To B business growing 18% year-on-year, becoming a new growth engine. This strategic transformation is viewed by the market as a long-term positive, boosting investor confidence. Source: Daily Economic News. The industry transformation is accelerating, the macro economy is stable, and capital inflows are evident.

Hisense Home Appliances rose 3.27%. Based on recent key news:

1. On November 7, Hisense Group Holdings Co., Ltd. signed a polyurethane procurement letter of intent with Dow Chemical at the 8th China International Import Expo, agreeing that Hisense will procure key materials from Dow for high-end home appliance product lines in 2026 The signing of this letter of intent for procurement helps Hisense Home Appliances lock in key raw material costs for the next two years, enhance the insulation and structural performance of high-end products, and drive up stock prices.

2. On November 7th, Hisense Home Appliances has become a multi-brand, full-category home appliance giant through a series of external mergers and acquisitions. Its high-end strategy has been realized through brand acquisitions, especially in the refrigerator product segment, where both market share and gross margin have improved. Although there is still room for improvement in overall gross margin, the advancement of the high-end strategy supports the stock price.

3. On November 6th, during the 8th China International Import Expo, Dow Inc. and Hisense Group Holdings Co., Ltd. signed a procurement letter of intent again, planning to purchase key polyurethane materials by 2026. These materials will be applied to Hisense's high-end home appliance products, further consolidating its position in the high-end market. Industry competition is intensifying, high-end development is hindered, and globalization needs to be strengthened.

Stocks ranked among the top in industry market capitalization

AUX Electric, up 3.78%, with a market capitalization reaching HKD 25.3 billion, has no significant news recently. Trading is active, with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and the specific reasons need further observation