Stock Track | NUOBIKAN Plummets 8.08% Intraday Amid Fraud Allegations, Profit-Taking, and Margin Concerns

Stock Track
Apr 30

NUOBIKAN's stock plummeted 8.08% during intraday trading on Thursday, as the company faced multiple negative factors.

The decline is attributed to intensified profit-taking selling following its recent inclusion in the Stock Connect program, creating heavy downward pressure. Moreover, investor confidence has been severely damaged by allegations linking NUOBIKAN to a financial fraud case involving A-share listed company Hengxin Dongfang, which was designated as ST due to misconduct, with NUOBIKAN identified as a counterparty allegedly involved in inflating revenue.

Additionally, despite reporting a 23.7% year-over-year revenue growth, the company's net profit attributable to shareholders grew only 2.1%, reflecting significant margin erosion that has raised persistent concerns over its earnings delivery capability.

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