Editor / Fu Tu Information Wudong
According to Futu News on Sept. 23, the share price of China Environmental Protection Technology, a penny stock, rose sharply in the past two days, rising 35.29% to HK $0.115 as of press time after a dive in early trading, with a turnover of HK $41.7702 million. The stock rose nearly 380% in two days.
Source: Futu Securities
On the evening of September 19, the company signed a memorandum of understanding with Hopu Biotechnology, which will introduce potential investors and invest up to 90 million yuan in the company through equity and debt investments. most of this will be used in the company's health-related products and services.
At the same time, the company and Hopu will cooperate to develop new health products and services for middle-and high-income groups in the mainland, Hong Kong and Southeast Asia, and further consider the establishment of GMP standard laboratories and immune cell clinics.
China's environmental protection technology is mainly engaged in sewage treatment related business. The company operates through two major divisions, the sewage treatment and Construction Services Division mainly provides sewage treatment plant construction and operation services, and the sewage treatment equipment Trading Division is engaged in the trading of sewage treatment facilities and machinery and the provision of related services. The company reported interim results on Aug. 30, with revenue of about HK $21.623 million, down 14.43 per cent from a year earlier. The loss attributable to shareholders was about HK $30.339 million, an increase of 23.57 per cent year-on-year. Loss per share is HK0.83 cents; no dividend is paid.
The major shareholders of China Environmental Protection Technology also submitted a winding-up petition to the company on August 12. On August 12th, the company received a petition submitted by Pacific Fertility Institutes Holding Company Limited (petitioner) to the High Court of the Hong Kong Special Administrative region. The petition was presented to the company in an oppressive and unfairly biased manner in the company's affairs. The winding-up petition will be heard in court at 09:30 on 9 October 2019.
Some industry insiders told Fortune Information that as there is no limit on the rise and fall of the Hong Kong stock market, there are more skyrocketing and plummeting phenomena in the Hong Kong stock market, basically regardless of fundamentals, there is the possibility of sitting and manipulation, investors need to be cautious.