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Modern Chinese Medicine Group (01643.HK) Slumps Nearly 10% as Shareholding Highly Concentrated
Modern Chinese Medicine Group (01643.HK) opened 8.9% lower this morning (15th) and once dropped 11.9% in early trading to a trough of HKD2.66. It was last reported at HKD2.73, down...
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Modern Chinese Medicine Group (01643.HK) Slumps Nearly 10% as Shareholding Highly Concentrated
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Modern Chinese Medicine Group (01643.HK)  +0.070 (+2.692%)   opened 8.9% lower this morning (15th) and once dropped 11.9% in early trading to a trough of HKD2.66. It was last reported at HKD2.73, down 9.6%, with turnover of 3.396 million shares, involving HKD9.5975 million.

The Securities and Futures Commission announced after market close yesterday that it had recently conducted an inquiry into the shareholding distribution of Modern Chinese Medicine. The results showed that as at March 30, 25 shareholders and their related parties collectively held 650 million shares of the company, representing 90.6% of the issued share capital. As such, only 67.67 million shares, representing 9.4% of the issued share capital, were held by other shareholders.

The Securities and Futures Commission noted that given the high concentration of shareholding among a small number of shareholders, even a small number of shares traded may lead to significant price volatility. Shareholders and potential investors are therefore advised to exercise caution when dealing in the companys shares. (da/j)(HK stocks quote is delayed for at least 15 mins.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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