Changes in Hong Kong stocks | Pujiang China (01417) plummeted by more than 20% and was named for a high concentration of shares, and the stock price soared 36 times in the previous three months

The Zhitong Finance App learned that Pujiang China (01417) plummeted by more than 20%. On August 31, the company's stock price closed at HK$7.48, 3640% higher than the closing price on May 12 this year. As of press release, it decreased by 22.5% to HK$5.2, with a turnover of HK$9.703 million.

According to the news, the Hong Kong Securities Regulatory Commission said that it recently conducted an investigation on the distribution of shares in Pujiang China. The investigation results showed that on August 14, 20 shareholders of the company held a total of 62.42,100 shares of the company's shares, which is equivalent to 15.41% of the company's issued share capital. The investigation results also showed that on August 14, 11.7 million shares of the company (2.89% of the issued share capital) were registered in the company's Hong Kong shareholders' register as held by Hong Kong Central Clearing (Agent), but were not deposited in the Central Clearing and Settlement System.

The relevant shares mentioned above, together with about 300 million shares (74.12% of the issued share capital) held by the two major shareholders of the company, are equivalent to 92.42% of the company's issued share capital. As a result, only 306.998 million shares of the company (7.58% of the issued share capital) are held by other shareholders. According to the Hong Kong Securities Regulatory Commission, due to the high concentration of shares in a small number of shareholders, even if a small number of shares are traded, the price of the company's shares may fluctuate greatly.