Newlink Tech (09600) plunged in the final moments of trading, with the stock price plummeting 80% and giving back all the gains since May. As of the time of writing, it has fallen 80.95% to HKD 0.36, with a turnover of HKD 0.154 billion.
According to the Zhitong Finance APP, Newlink Tech (09600) plunged in the final moments of trading, with the stock price plummeting 80% and giving back all the gains since May. As of the time of writing, it has fallen 80.95% to HKD 0.36, with a turnover of HKD 0.154 billion.
On the news front, Newlink Tech will release its interim performance for 2024 tomorrow. The company previously issued a profit warning, expecting a loss of approximately RMB 50 million to RMB 60 million for the first half of the year, an increase of approximately RMB 23.2 million to RMB 33.2 million compared to the same period last year. This is mainly due to an increase in the amount of deferred development costs amortized by the group and a significant increase in research and development expenses, as well as an increase in expected credit losses on trade receivables.