According to the Zhitong Finance APP, New Focus Auto (00360) fell more than 20%. As of the time of publication, it fell 20.37% to HKD 0.043, with a turnover of HKD 16.0536 million.

On the news front, New Focus Auto recently announced that its wholly-owned subsidiary New Fox Photonics received a notice from the office in charge of compensation of Shanghai Qingpu Industrial Park, which involved industrial land and above-ground buildings held by New Fox Photonics outside of Qingpu district in Shanghai. The two parties have not yet signed a land acquisition agreement. The company stated that it will try its best to minimize the adverse impact of the property acquisition on the normal operation of New Fox Photonics. Due to the preliminary stage of the property acquisition, the impact of the property acquisition on the company's operating and financial condition is uncertain.

It is worth noting that the stock plummeted by 74.40% at the end of the day on ****. New Focus Auto is in a highly concentrated ownership structure. As of December 31, 2023, the company's largest shareholder, Qingdao Guorui New Fox Investment Center (Limited Partnership), held a stake of up to 60.692%.