Baida International Holdings (01949) crashed in volume at the end of the session, hitting a new low of HK$0.101. As of press release, it decreased by 88.77% to HK$0.137, with a turnover of HK$0.122 billion.
The Zhitong Finance App learned that Baida International Holdings (01949) had a flash crash in volume at the end of the session, hitting a new low of HK$0.101. Notably, the stock has been rising since mid-September, with a cumulative increase of up to three times over two months. As of press release, it decreased by 88.77% to HK$0.137, with a turnover of HK$0.122 billion.
According to the news, Baida International Holdings recently announced that it has signed a memorandum of understanding with independent third parties Guangzhou Zhuoer Jewelry Industry and Haikou Zhuoer Jewelry. The company plans to acquire all or part of Ganzhou Zhuoer's shares. The latter specializes in providing comprehensive IT facilities and solutions for industrial parks and corporate customers. The deal may indicate that the company has a strategy to enter the software business in China.
In September of this year, the board of directors decided on September 11 to adopt “Baida International Holdings Limited” as the company's Chinese name for identification purposes only. The Chinese stock abbreviation was also changed from “PLATT NERA” to “Baida International Holdings”. Earlier in June, the company announced a placement of up to 80 million new shares, equivalent to 11.76% of the expanded share capital; the placement price was HK$0.375, a discount of 18.48% over the closing report on the previous trading day.