K. WAH INT'L (00173) saw its stock price plummet by 5.15% in intraday trading, following the release of its annual financial results and announcements of significant management changes. The sharp decline reflects investors' disappointment with the company's performance and uncertainty about its future direction.

The Hong Kong-based property developer reported annual revenue of HKD 7,187 million and net income attributable to shareholders of HKD 335 million. The company's earnings per share (EPS) stood at HKD 0.1063. While specific year-over-year comparisons were not provided, the market's negative reaction suggests that these figures fell short of expectations, potentially indicating a challenging year for the company in a tough real estate market.

Adding to the mix of news, K. WAH INT'L announced several key management changes. Francis Lui Yiu Tung has been appointed as the new Chairman, while Paddy Tang Lui Wai Yu and Alexander Lui Yiu Wah have been named Co-Managing Directors. These leadership transitions, while potentially positioning the company for future growth, may have contributed to investor uncertainty in the short term. Despite the negative market reaction, the company declared a final dividend of HK$0.5 per share, which could be seen as an attempt to maintain shareholder confidence amidst the disappointing results.