ZX INC (09890) saw its stock price plummet by 5.71% in pre-market trading on Friday, following a series of significant announcements. The company revealed its rebranding initiative and released its half-year financial results, both of which appear to have influenced investor sentiment.

In a surprising move, ZX Inc. announced its official rebranding to Tanwan Inc., complete with a new company logo and stock short name. The company's shares will now trade under the name "TANWAN" on the Stock Exchange, although the stock code will remain "9890". This significant change in corporate identity may have contributed to market uncertainty, potentially explaining the sharp decline in stock price.

Additionally, ZX Inc. reported its half-year financial results, posting a profit of RMB649.6 million and revenue of RMB2,004.6 million. Without comparative figures or analyst expectations, it's challenging to determine whether these results met market expectations. However, the stock's negative reaction suggests that investors may have found these figures disappointing, further contributing to the downward pressure on the share price. As trading continues, market participants will likely scrutinize these developments and their potential impact on the company's future prospects.