Stock Track | DRINDA Plummets 5.11% Intraday on Weak Annual Results, Shareholder Selling, and Auditor Change Concerns

Stock Track05-05 14:23

DRINDA's stock price fell sharply by 5.11% during intraday trading on Tuesday, as multiple negative factors converged to pressure the share price.

The decline followed the company's disclosure of its annual results, which showed a significant 23.44% year-over-year revenue decline to RMB 7.598 billion, with both revenue and profitability deteriorating amid mounting challenges. Simultaneously, shareholder Jindi Technology completed its share reduction plan, disposing of approximately 8.7205 million shares, which intensified selling pressure in the market.

Adding to investor concerns, the company announced plans to replace its overseas auditor Deloitte. The combination of weakening fundamentals, completed insider selling, and auditor changes collectively weighed heavily on market sentiment, leading to the stock's sharp decline.

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