Cn Engy Storage (01143) plunged in the afternoon trading session, hitting a low of HK$0.255 during the day, reaching a new low since its listing. As of the reporting time, it has dropped by 81.48% to HK$0.4, with a trading volume of 0.109 billion Hong Kong dollars.
According to the Wisdom Financial APP, Cn Engy Storage (01143) experienced a dramatic plunge in the volume at the close of the market, hitting a low of HK$0.255 during the day, establishing a new low since its listing. As of the reporting time, it has dropped by 81.48% to HK$0.4, with a trading volume of 0.109 billion Hong Kong dollars.
On the news front, Cn Engy Storage recently announced that the placement matters were completed on October 7, with a total of 17.256 million shares allocated, equivalent to approximately 7.7% of the enlarged share capital of the company. The total proceeds from the placement matters are about HK$26.1 million, netting HK$25.3 million, to be used for developing energy storage system equipment specifically for charging electric vehicles with renewable energy, as well as for the group's operating funds.
The interim performance released by Cn Engy Storage earlier indicated that the group's revenue in the first half of the year was HK$0.265 billion, a year-on-year increase of 15.86%; the attributable loss to shareholders was HK$3.908 million, a year-on-year narrowing of 19.11%; with a loss per share of 1.96 Hong Kong cents. The company had previously announced in March this year its plan to establish a joint venture with MGL (Thailand), focusing on developing new energy automotive business in Thailand and other Southeast Asian countries.