Shares of Beijing SinoHytec (HKG:2402) plummeted 5.05% during Friday's intraday trading session, following the release of disappointing third-quarter financial results. The fuel cell systems maker reported a widened loss and a significant drop in revenue, prompting investors to reassess their positions.

According to a Hong Kong bourse filing on Thursday, SinoHytec's attributable loss for the third quarter increased to 14.8 million yuan, up from 11.7 million yuan in the same period last year. The company's revenue saw a dramatic decline, falling nearly 81% year-on-year to just 3.2 million yuan. Loss per share also increased to 0.63 yuan, compared with 0.50 yuan in the prior year.

The market reaction to these disappointing results was swift and severe. SinoHytec's shares had already fallen nearly 3% in late morning trade on Friday, before accelerating their decline throughout the day. The steep drop in revenue, coupled with the widening losses, has raised concerns among investors about the company's near-term growth prospects and its position in the competitive fuel cell systems market.