According to the Wise Finance app, Remt (00601) fell nearly 17%, halved from the June high of HKD 0.166. As of press time, it fell 13.68% to HKD 0.082, with a turnover of HKD 0.4695 million.
It is reported that Remt is a leading enterprise in rare earth magnesium alloy new materials. The group regards the application of rare earth technology as the core, and conducts R&D, production, and sales of new materials rare earth magnesium alloy series products. In recent years, the company's revenue has continued to decline and its profitability has fluctuated. Among them, in 2023, the company realized a revenue of HKD 0.263 billion, a significant decrease of 31.4%. During the period, it suffered a loss of HKD 0.424 billion, which was a loss from a profit of HKD 1.4 million in the previous year.
According to the Wise Finance app's "Doubled in a week, is the crazy rise of Remt (00601) due to scarcity and beauty?", as early as May 29th, Remt had gradually started to activate, with active trading on that day, and rose nearly 30% throughout the day, with turnover suddenly soaring to HKD 2.38 million. Since then, the company's stock price has repeatedly fluctuated, and there is an obvious suspicion of "washing the plate". Judging from the market data on June 20th, retail investors have gradually entered the market. Overall, Remt, whose fundamentals are relatively volatile, achieved a crazy growth of doubling its stock price in one week as the main capital entered. And the trend of its stock price can only be seen by the strength of the manipulator.