On August 16th, the Hang Seng Index Company announced the latest quarterly review results, in which Yidian Cloud (02416) was removed from the Hang Seng Composite SmallCap Index. The change will be implemented after the close of trading on September 6, 2024 (Friday) and will take effect on September 9, 2024 (Monday).
According to the Zhongtong Finance APP, on August 16th, the Hang Seng Index Company announced the latest quarterly review results, in which Yidian Cloud (02416) was removed from the Hang Seng Composite SmallCap Index. The change will be implemented after the close of trading on September 6, 2024 (Friday) and will take effect on September 9, 2024 (Monday). CITIC Securities research report pointed out that Yidian Cloud may be removed from the Hong Kong stock market due to a decrease in market cap, insufficient liquidity, violation of relevant regulations and other reasons.
On the secondary market, Yidian Cloud's stock price has continued to decline since May, and has fallen by more than 60% from May 20th to present, closing at HKD 1.26 as of now.
In terms of performance, the annual results released by Yidian Cloud for the year ended December 31, 2023 showed that the group achieved revenue of RMB 1.271 billion, a year-on-year decrease of 7.4%; a net loss of RMB 0.901 billion, a year-on-year increase of 47.26%; and adjusted net income of RMB 15.213 million, a year-on-year decrease of 88.7%.