The Zhitong Finance App learned that Jiayi Holdings (01025) crashed in early trading and once plummeted by nearly 67%. As of press release, it fell 61.01% to HK$0.085, with a turnover of HK$6.418,400.

According to reports, Jiayi Holdings was listed in February 2019. It is an investment holding company mainly engaged in the manufacturing and trading of ready-to-wear products, mainly engaged in the manufacture and sale of bridesmaid dresses. It is worth noting that the company was named by the Hong Kong Securities Regulatory Commission less than a month after its previous listing. The Hong Kong Securities Regulatory Commission indicates that its shares are highly concentrated. After investigation, it was discovered that on the third trading day of listing, 15 investors held a total of 11% of the shares, taking into account the 2 major shareholders and 3 underlying investors. The total shareholding volume reached 93%, which meant that the street goods held by other investors were only 3.592 million shares or 7%.

According to the interim results of Jiayi Holdings last year, the company achieved revenue of HK$22.468 million, a year-on-year decrease of 39.75%; loss of HK$14.665 million during the period was HK$14.665 million, a decrease of 19.18% over the previous year. Furthermore, the company recently announced that it relates (among others) to place existing shares under general mandates and to subscribe for new shares in a new manner. The company clarified that both the purchase price and subscription price have been revised to HK$0.209 per share to be sold instead of HK$0.208 per share to be sold.