Youth online (02429) plunged more than 28% and rose over 6% in early trading. The stock had previously risen for 6 consecutive trading days and doubled in price. As of press time, it fell 24.22%, to HKD 20.65, with a turnover of HKD 109 million.
According to the Smart Finance app, Youth Online (02429) plunged more than 28% and rose over 6% in early trading. The stock had previously risen for 6 consecutive trading days and doubled in price. As of press time, it fell 24.22%, to HKD 20.65, with a turnover of HKD 109 million.
On the news front, Youth Online is mainly engaged in unmanned retail business and officially listed in November last year. From the financial data, the company has been continuously losing money in recent years, with losses of RMB 1.184 billion, RMB 189 million, and RMB 283 million from 2020 to 2022 respectively. The latest performance data shows that Youth Online achieved revenue of RMB 2.672 billion (RMB) in 2023, a year-on-year increase of 6.07%; shareholders' losses amounted to RMB 327 million, a year-on-year expansion of 15.03%.