According to Zhongtong Financial App, Space Group (02448) suffered a flash crash with a plunge of over 73%, hitting a record low of HKD 0.231. Its latest market cap is less than HKD 0.1 billion. As of the time of publication, it fell by 73.82% to HKD 0.233 with a turnover of HKD 96.2965 million.
It is reported that Space Group is a mainly investment holding company engaged in decoration engineering. The company operates two business departments, the decoration engineering branch involving the execution of decoration engineering, procurement of materials, site supervision, subcontractor management, overall project management, interior decoration and renovation of existing buildings. The building construction engineering branch involves structural building engineering, procurement of materials, site supervision, subcontractor management and overall project management.
On July 8, the company announced that Chen Xiaohua had resigned as the Company Secretary, which came into effect on the same day. According to the performance report released earlier by the Space Group for the year 2023, the Group generated revenue of MOP 0.273 billion, a decrease of 42.72% from the previous year; the shareholders of the company suffered a loss of MOP 0.126 billion, compared to a profit of MOP 21.485 million from the same period of the previous year, resulting in an annual loss.
