On July 13, China Conch Venture (00586.HK) plunged 27.13% in regular trading, trading at HK$7.08/share, with turnover of HK$654 million. The sharp decline occurred despite the parent company Anhui Conch Group's sustained accumulation campaign over the prior week.

According to exchange filings, Anhui Conch Group purchased 9.3 million shares on July 6 at an average price of HK$10.20, followed by an additional 16.41 million shares on July 7 at HK$10.04 per share, spending approximately HK$165 million. After the latest acquisition, the group's stake rose from 12.49% to 13.40%, totaling approximately 240 million shares. However, short-selling volume surged to 9.7 million shares on July 10, dramatically diverging from the group's accumulation cost. Market participants attributed the collapse to uncertainty surrounding a potential controlling stake transfer and consolidation expectations, compounded by sector-wide weakness, which triggered concentrated short-side liquidation forming a stampede-style selloff.

(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.)