RADIANCE HLDGS (09993.HK) saw its stock price plummet 5.92% during intraday trading on Monday, reflecting a significant sell-off in the market.

The decline represents a continued unwinding of a prior speculative rally that had briefly lifted the stock from its all-time lows. Industry headwinds continue to pressure the company, with national real estate development investment falling 13.7% year-on-year in recent data, indicating persistently weak market conditions.

Company-specific concerns further contributed to the sell-off. The auditor has resigned and issued a disclaimer regarding the company's ability to continue as a going concern, while the company reported a substantial full-year net loss of RMB 7.939 billion. Additional governance concerns emerged with the retirement of an independent non-executive director, adding to investor uncertainty.