The Zhitong Finance App learned that the volume of New Focus (00360) crashed at the end of the session, falling nearly 85% in the intraday period, to a low of HK$0.019, setting a new low on the market. As of press release, it fell 76% to HK$0.03, with a turnover of HK$31.7857 million. The total market value had fallen below HK$500 million.

According to the news, New Focus recently announced that Newfox Optoelectronics, a wholly-owned subsidiary, has received a notice from the Shanghai Qingpu Industrial Park Expropriation and Compensation Office, involving Newfox Optoelectronics holding industrial land and buildings located outside the Qingpu district of Shanghai. The two sides have yet to sign a land expropriation agreement. The company said it will make every effort to reduce the adverse effects that property expropriation may have on the normal operation of Newfox Optoelectronics. Since property expropriation is still in its infancy, there is uncertainty about the impact of property expropriation on the company's operating conditions and financial situation.

According to the 2023 annual results previously released by the company, annual revenue was about 555 million yuan, a year-on-year decrease of 6.13%; shareholders' losses were 87.32 million yuan, an increase of 80.03% over the previous year. The announcement stated that the increase in losses was mainly due to an increase in anticipated credit loss provisions for trade receivables and other receivables.