At one point, Chabaidao (02555) fell nearly 14%. Since its listing on April 23 this year, the stock closed down more than 26% on the same day. The current market value has evaporated more than HK$14 billion from its initial high.
The Zhitong Finance App learned that Chabaidao (02555) once fell nearly 14%. Since its listing on April 23 this year, the stock closed down more than 26% on the same day. The current market value has evaporated more than HK$14 billion from its initial high. As of press release, it decreased by 8.32% to HK$5.95, with a turnover of HK$6.4059 million.
According to the news, on September 9, the Shanghai Stock Exchange and the Shenzhen Stock Exchange issued an announcement to adjust the Hong Kong Stock Exchange list. Among them, Chabaidao was officially included in the Hong Kong Stock Connect, effective September 10. However, it was still difficult to withstand the decline in performance. Tea Baidao opened more than 4% higher in early trading. Since then, the stock price has been falling all the way down, falling by nearly 14% in the afternoon.
Financial reports show that in the first half of this year, Chabaidao achieved total revenue of 2.396 billion yuan, a decrease of 10.0% year on year; net profit to mother of 0.237 billion yuan, a decrease of 59.7% year on year; adjusted net profit of 0.395 billion yuan, down 34% year on year; and gross margin of 31.7%, down 3.4 percentage points year on year. In terms of expenses, distribution and sales expenses in the first half of the year were 0.105 billion yuan, a sharp increase of 1.4 times over the previous year.