Hong Kong Stock Alert | MODERN INNO DT (02322) Falls Over 12% Again, Stock Price Halved in Nearly Three Trading Days as Executive Director Liu Haijie's Holdings Face Forced Sale

Stock News09-02

MODERN INNO DT (02322) fell over 12% again. Notably, the stock was temporarily suspended on the afternoon of August 29, falling 41.75% before the suspension, and closed down over 7% yesterday after trading resumed. At the time of writing, it was down 12.04%, trading at HK$0.19, with a turnover of HK$10.2436 million.

On the news front, MODERN INNO DT recently issued an announcement stating that on August 29, the company's share price decline accompanied by rising volume was mainly due to the sale of 46.544 million ordinary shares held by executive director Liu Haijie by his securities brokerage firm. Following the completion of the forced sale, Liu Haijie holds interests in a total of 195 million shares, representing approximately 4.7% of the total issued share capital.

The announcement indicated that except for the matters disclosed above, the directors are not aware of any reasons for the unusual share price decline accompanied by rising volume. The board of directors also confirmed that the group maintains normal business operations, and there have been no significant changes in the group's business operations and financial condition.

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