Starry Sky Chinese (06698) fell by more than 7%, hitting a new low of HK$4.27 since listing. As of press release, it decreased by 7.14% to HK$4.29, with a turnover of HK$126.22,900.
The Zhitong Finance App learned that Starry Sky Chinese (06698) fell by more than 7%, hitting a new low of HK$4.27 since its launch. As of press release, it decreased by 7.14% to HK$4.29, with a turnover of HK$126.22,900.
According to the news, Stock Exchange data shows that on April 8, Harvest Sky Investment Holdings Limited sold 1.7581 million shares of Starry Sky Chinese at an average price of HK$6.21 per share, worth approximately HK$10.917,800. After the sale, the latest number of shares held was 314 million shares, and the holding ratio dropped from 79.34% to 78.90%. According to the prospectus previously disclosed by the company, in Starry Sky's shareholder structure before listing, Harvest Sky (100% owned by Tian Ming) held 20.80% of the shares.
According to Starry Sky Chinese's 2023 financial report, the company's revenue for the full year of last year was 427 million yuan, a year-on-year decrease of 51.2%. Shareholders' losses were 1,605 billion yuan, changing from profit to loss over the previous year. Mainly due to impairment of goodwill and losses or delays in broadcasting of some variety shows. On August 25 of last year, Zhejiang Satellite TV announced that the broadcast of the “The Voice of China” program was suspended due to the investigation of issues reported to viewers and netizens. As of now, the show has not been broadcast again.