The Zhitong Finance App learned that Sunac China (01918) resumed trading yesterday and closed down more than 55%. It fell again in early trading. At one point it fell more than 15%, hitting a new low of HK$1.69 since February 2017. Stock prices have plummeted by more than 60% in the past two days. As of press release, it was down 9.31% to HK$185, with a turnover of HK$262 million.

According to a research report released by Xiaomo, it is expected that Sunac China's book value will continue to decline. According to this year's 0.1 times target market account rate forecast, it is believed that the stock should only be worth 1 yuan, that is, there is a potential decline of 78%. If the book value continues to shrink, there is still a risk of further decline in the future, giving Sunac China a “reduced holdings” rating, with a target price of HK$1.