Faced with the increasingly stringent supervision of companies with highly concentrated equity by the Hong Kong Securities and Futures Commission in recent years, Jingwei Tiandi's sale of shares has also optimized the company's equity structure to a certain extent and avoided risks.
Throughout 2024, the Hong Kong Securities and Futures Commission announced 10 companies with highly concentrated shareholdings, exceeding the total of 2023 1 and 2022 4.
Many companies saw their share prices plummet immediately panama telegram data after the Hong Kong Securities and Futures Commission made their announcements.
On the one hand, the supervision of the CSRC has reduced investors' confidence in the companies, indicating a potential crisis. On the other hand, these companies have previously experienced considerable stock price fluctuations.
Changjiu shares, which were warned of risks by the Hong Kong Securities Regulatory Commission in June 2024, marked the beginning of flash crashes in companies with highly concentrated equity.
Changjiu shares were listed in January 2024. As of June 19, the stock price had risen by more than 1,600%. On June 19, the Hong Kong Securities and Futures Commission warned that Changjiu shares had a highly concentrated shareholding, after which Changjiu shares fell by more than 60% in one day.
The results of the Hong Kong Securities and Futures Commission's investigation showed that 9 shareholders held a total of 48.739 million shares of Changjiu shares, equivalent to 24.11% of the company's issued share capital. The relevant shares, together with the 150 million shares held by the family of the company's chairman and CEO, account for 74.2% of the issued share capital, equivalent to 98.31% of the company's issued share capital.