On July 21, Minsheng Capital fell 17.3% in regular trading, trading at 4.04 HKD/share, with turnover of HKD 126 million.

On the news front, Beijing Puqi Pharma's Hong Kong IPO prospectus officially expired on the same day after its six-month validity period lapsed. Minsheng Capital served as one of the joint sponsors for that listing. The company's most recent annual results showed net profit surging 197.73% year-over-year to HKD 151 million, primarily driven by a significant increase in securities underwriting and sponsorship fee income. The failure of this sponsored project to proceed has triggered market concerns over the sustainability of the company's core revenue stream.

Adding to the selling pressure, southbound capital has been reducing its position in the stock for multiple consecutive trading days — with daily net disposals of 15,400 to 36,120 shares recorded between July 14 and July 17 — while major capital flows have also turned significantly negative. The combination of a key business setback and persistent fund outflows has intensified short-term selling pressure on the stock.

(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.)