According to a report, GREEN TEA GROUP (06831) dropped more than 4%, touching HK$4.405, a new low since its listing, with the current share price having halved from its peak earlier this year. As of press time, it fell 4.34% to HK$4.405, with a turnover of HK$6.2166 million.
On the news front, according to a recent research report by Daiwa, same-store sales for Green Tea in September and the Golden Week holiday are expected to decline by mid-to-high double digits year-on-year, affected by food safety incidents. It is understood that in August this year, the company was embroiled in a "dichlorvos disinfection" controversy, with media exposing that Xiamen Lvlinsen Environmental Technology Co., Ltd. had long used dichlorvos to carry out disinfection for dozens of chain catering companies, including Green Tea Restaurant.
It is worth noting that on September 21, GREEN TEA GROUP announced that Partners Gourmet, affiliated with Swiss private equity group Partners Group and the company's second-largest shareholder, had sold all of its shares through off-market transactions, completely exiting its position. On the same day, Xu Ruijie, a non-executive director appointed to the board by the second-largest shareholder, announced her resignation.
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