After issuing a profit warning, Meinian Health (02415) fell by more than 5%, hitting a new low of 1.42 Hong Kong dollars since its listing. The current market cap has evaporated nearly 90% from its historical high. As of the time of publication, it dropped by 5.33%, to 1.42 Hong Kong dollars, with a turnover of 2.236 million Hong Kong dollars.
According to the Wise News app, after issuing a profit warning, Meinian Health (02415) fell by more than 5%, hitting a new low of 1.42 Hong Kong dollars since its listing. The current market cap has evaporated nearly 90% from its historical high. As of the time of publication, it dropped by 5.33%, to 1.42 Hong Kong dollars, with a turnover of 2.236 million Hong Kong dollars.
On the news front, Meinian Health issued a profit warning, expecting a decrease in net profit for the six months ending June 30, 2024, of no more than 0.5 million RMB compared to the same period in 2023. This is mainly due to a temporary delay in revenue recognition, resulting in reduced income for the period; no fair value gains on redeemable preferred shares; and an increase in administrative expenses due to the issuance of share-based rewards.
In addition, the Hang Seng Index Company previously announced the latest quarterly review results, with Meinian Health being removed from the Hang Seng Composite Index components, with the adjustment taking effect from September 9th. China Gold Research Report pointed out that Meinian Health may be removed from the Hong Kong stock connect due to the decline in market cap, insufficient liquidity, or violation of relevant regulations.