On June 26, Nobikan (02635.HK) fell 8.54% in regular trading to HK$12.08 per share, with turnover of approximately HK$36.50 million, marking a fresh 52-week low.

On the news front, the company announced on June 23 that its subsidiary Shaanxi Huibo received RMB 40 million in capital injection from five Bo Jiang-affiliated investment funds. The transaction diluted the company's stake from 72% to approximately 66.12%, constituting a connected transaction and deemed disposal. The stock has been in sustained retreat since hitting a record high of HK$83.20 on April 20, the day it was included in Stock Connect, with massive profit-taking creating a classic sell-the-news pattern. The cumulative maximum drawdown now exceeds 85%. With actual free float of only approximately 30 million shares, the extremely low float structure continues to amplify downward pressure amid insufficient liquidity support.

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