On June 26, Dongjiang Environmental fell 8.42% in regular trading, trading at HK$1.85/share, with turnover of HK$25.70 million. The decline extends the correction following a sharp prior rally, compounded by shareholder reduction and weak industry fundamentals.
On the news front, the company issued an abnormal trading fluctuation announcement on June 23, explicitly stating that the hazardous waste industry remains at a cyclical bottom with no signs of recovery, and that its operating conditions have not undergone material changes. Additionally, on June 18, IMC Global Holdings LLC sold 14.306 million H shares at HK$1.98 per share, totaling approximately HK$28.33 million, reducing its stake to 5.72%. The combination of excessive prior gains, institutional selling, and subdued sector fundamentals has intensified profit-taking sentiment in the market.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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