Stock Track | China Hongqiao Shares Plunge as Major Shareholder Citic Reduces Stake

Stock Track10-26

Shares of China Hongqiao Group Ltd. suffered a sharp decline of 5.85% on Thursday, as major shareholder Citic Ltd. reported a substantial reduction in its long position in the aluminum producer.

According to a filing with the Hong Kong stock exchange, Citic's long position in China Hongqiao decreased to 5.97% as of September 30, down from 7.92% previously. The move signals that Citic, a diversified conglomerate, has trimmed its ownership stake in the company.

The sell-off by a major shareholder spooked investors, who often interpret such actions as a lack of confidence in the company's prospects. While the specific reasons behind Citic's position adjustment were not disclosed, the news fueled concerns and contributed to the sharp drop in China Hongqiao's share price.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1178945058?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-26 00:35","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1178945058","market":"us","top_or_hot":-1,"title":"Stock Track | China Hongqiao Shares Plunge as Major Shareholder Citic Reduces Stake","media":"Stock Track","content":"<p>Shares of China Hongqiao Group Ltd. suffered a sharp decline of 5.85% on Thursday, as major shareholder Citic Ltd. reported a substantial reduction in its long position in the aluminum producer.</p>\n\n<p>According to a filing with the Hong Kong stock exchange, Citic's long position in China Hongqiao decreased to 5.97% as of September 30, down from 7.92% previously. The move signals that Citic, a diversified conglomerate, has trimmed its ownership stake in the company.</p>\n\n<p>The sell-off by a major shareholder spooked investors, who often interpret such actions as a lack of confidence in the company's prospects. While the specific reasons behind Citic's position adjustment were not disclosed, the news fueled concerns and contributed to the sharp drop in China Hongqiao's share price.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | China Hongqiao Shares Plunge as Major Shareholder Citic Reduces Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | China Hongqiao Shares Plunge as Major Shareholder Citic Reduces Stake\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-26 00:35 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of China Hongqiao Group Ltd. suffered a sharp decline of 5.85% on Thursday, as major shareholder Citic Ltd. reported a substantial reduction in its long position in the aluminum producer.\n...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01378","symbol_name":"中国宏桥","start_time":0,"source_url":"","article_id":"1178945058","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1178945058","pubTimestamp":1729874103,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of China Hongqiao Group Ltd. suffered a sharp decline of 5.85% on Thursday, as major shareholder Citic Ltd. reported a substantial reduction in its long position in the aluminum producer.According to a filing with the Hong Kong stock exchange, Citic's long position in China Hongqiao decreased to 5.97% as of September 30, down from 7.92% previously. The move signals that Citic, a diversified conglomerate, has trimmed its ownership stake in the company.The sell-off by a major shareholder sp","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01378":"中国宏桥"},"translate_title":"股票赛道大股东中信减持中国宏桥股价暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01378":1},"content_text":"Shares of China Hongqiao Group Ltd. suffered a sharp decline of 5.85% on Thursday, as major shareholder Citic Ltd. reported a substantial reduction in its long position in the aluminum producer.\nAccording to a filing with the Hong Kong stock exchange, Citic's long position in China Hongqiao decreased to 5.97% as of September 30, down from 7.92% previously. The move signals that Citic, a diversified conglomerate, has trimmed its ownership stake in the company.\nThe sell-off by a major shareholder spooked investors, who often interpret such actions as a lack of confidence in the company's prospects. While the specific reasons behind Citic's position adjustment were not disclosed, the news fueled concerns and contributed to the sharp drop in China Hongqiao's share price.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1178945058"}