Hong Kong stock market movement: GON TECHNOLOGY plunges nearly 12% as cornerstone investor lock-up period expires, with 8.87 million shares unlocked

Stock News08-04

GON TECHNOLOGY (02768) opened flat in early morning trading before declining sharply, falling nearly 12% at one point. As of press time, the stock was down 7.17% at HK$29.78, with a trading volume of HK$76.4072 million.

On the news front, GON TECHNOLOGY was listed on the Hong Kong Stock Exchange on February 4 this year. The six-month lock-up period for eight cornerstone investors expired today, involving a total of 8.8692 million shares unlocked.

GON TECHNOLOGY is a Chinese supplier specializing in chemical new materials and gelatin and collagen upstream and downstream products. In July this year, GON TECHNOLOGY announced it expects its net profit attributable to shareholders of the listed company for the first half of this year to be between 600 million and 750 million yuan, a year-on-year increase of 73.48% to 116.85%. Net profit after deducting non-recurring gains and losses is expected to be between 580 million and 720 million yuan, a year-on-year increase of 73.78% to 115.73%.

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