On May 20, QingSong Health fell 5.07% in regular trading, trading at 27.02 HKD/share, with trading volume of approximately 38.10 million HKD.

The decline follows a brief rebound of 6.62% on May 19, which was driven by the company's announcement appointing You Mucong as new Chief Financial Officer effective May 18. The positive sentiment from the appointment quickly dissipated as broader selling pressure resumed. The new CFO brings international investment banking and healthcare private equity experience, having served as founding partner of J&R Capital and established Select Health Limited.

The stock has been under sustained pressure since April 17, when former CFO Wang Jing and independent non-executive director Bai Kun resigned on the same day — just months after the company's listing — triggering significant corporate governance concerns. Since then, shares have declined over 80% from 152.30 HKD, erasing approximately 26 billion HKD in market capitalization. Despite the management refresh, market skepticism regarding fundamental valuation and governance stability remains elevated, with short-term selling pressure yet to fully subside.

(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.)