Cheerwin (02438) fell by 6% in trading, hitting a low of 0.94 Hong Kong dollars, a decline of over 50% from the monthly high. As of the time of writing, it dropped by 5%, closing at 0.95 Hong Kong dollars, with a turnover of 0.7954 million Hong Kong dollars.
According to the Wise News APP, Cheerwin (02438) fell by 6% in trading, hitting a low of 0.94 Hong Kong dollars, a decline of over 50% from the monthly high. As of the time of writing, it dropped by 5%, closing at 0.95 Hong Kong dollars, with a turnover of 0.7954 million Hong Kong dollars.
On the news front, Cheerwin is about to see the first release of restricted shares on October 24. According to previous announcements, the company's two cornerstone investors, Beijing Centergate Technologies Co., Ltd. and Nanjing Economic and Technological Development Zone Ju Zhi Venture Capital Investment Partnership (Limited Partnership), collectively hold 24.925 million shares that will be unlocked. At the same time, the pre-IPO investors of Cheerwin and the remaining existing shareholders collectively holding 0.876 billion shares and 69.9162 million shares will also see restrictions lifted, corresponding to 58.76% and 4.69% of the company's total share capital, respectively.
It is worth noting that on October 14, Cheerwin experienced a warehouse event, where as many as 0.141 billion shares were deposited with China Securities Co., Ltd. (International) Securities on the same day, accounting for 9.39% of the company's actual circulating share capital. In terms of finances, in the first half of this year, the company achieved a revenue of 0.163 billion yuan, a year-on-year decrease of 37.86%; it incurred a loss of 0.579 billion yuan during the period, a 165.07% increase year-on-year.