On June 16, Jingwei Tiandi (New) (02477.HK) declined 8.7% in regular trading, trading at HK$0.42/share, with turnover of approximately HK$92.25 million.

The decline is driven by the continued fallout from the major shareholder Jingwei Tiandi Group's announcement on June 10 to sell a total of 576 million shares to three individuals at HK$0.3445 per share — a significant discount to prevailing market prices. Upon completion, the group's holdings will decrease from 664 million shares to 88 million shares (approximately 2.2% of total issued share capital), and it will no longer be classified as a major shareholder of the company.

The steep discount signals an urgent exit intent by the controlling shareholder. This comes on the heels of Future Empire (a subsidiary of China Intelligent Health) clearing its entire position on June 8 at an average price of approximately HK$0.56, booking a pre-tax loss of approximately HK$11.3 million. The accelerated departure of multiple shareholders continues to amplify selling pressure on a stock already reeling from a catastrophic 83.16% single-day crash on May 21, where market capitalization evaporated by over HK$15.7 billion amid turnover of HK$4.625 billion and a turnover rate exceeding 105%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)