NEW ORIENTAL-S stock plummeted 5.09% intraday, continuing its recent downward trend amid sustained selling pressure.

The decline is attributed to ongoing investor anxiety following a significant stake reduction by major shareholder First Beijing Investment Limited, which sold shares earlier this month, reducing its holding below the 10% threshold. This move has fueled market concerns over potential further unwinding, leading to persistent negative sentiment.

While a brief technical rebound occurred recently, the current session's sharp drop indicates that worries about the shareholder's reduced commitment have not dissipated, keeping the stock on a downward trajectory.