LX Technology Group (HKG:2436) flagged a high concentration of shareholding in the firm's shares following a request from the Hong Kong Stock Exchange, according to a filing with the city's bourse Tuesday.

According to the notice, a total of 25 shareholders collectively controlled 92.27% of the company's issued share capital, leaving only 7.73% of the issued shares in the hands of other shareholders.

This meant that the shares may not have a genuine market and prices could fluctuate "substantially" even with a small number of shares traded, LX Technology said.