STERLING GP-NEW (01825) continued its decline on Thursday, falling more than 17% in early trading, bringing its three-day cumulative loss to over 80%. As of the time of writing, the stock was down 17.36% at HK$2, with turnover reaching HK$11.24 million.

On the news front, over the month starting from August 14, STERLING GP-NEW has experienced a series of abnormal share transfers and deposits, with the largest single transfer accounting for as much as 16.54% of total shares. These movements have involved multiple brokerage firms, including Zhuorui Securities, Yongfengjin Securities, and Yuanta Securities.

The scale of these transfers escalated further on September 17, with a single-day transfer value hitting HK$75.80 million, representing 22.89% of the total—the highest single-day figure during this period. Notably, shareholders moved 2.954 million shares into Yuanta Securities (Hong Kong), while 2.026 million shares were transferred out of Liqiao Securities.

STERLING GP-NEW is an investment holding company primarily engaged in the manufacturing and trading of garment products. Earlier this month, the company announced a placement plan to issue up to 8.2944 million new shares at HK$6.80 per share, representing a discount of approximately 19.53% to the closing price of HK$8.45 on the announcement day. The placement is expected to raise net proceeds of around HK$55.9 million, which will be used to fund the expansion of its garment business and supplement general working capital.