Shanghai Zhida Technology sinks to record low on discounted share sale

Shanghai Zhida Technology Development Co

23/06/2026 05:44

** Shares of Shanghai Zhida Technology Development 2650.HK drop 9.7% to HK$11.25, their lowest point since debut on October 10, 2025 
** Stock posts its biggest intraday pct decline since April 30 and down for a sixth consecutive session
** The China-based smart home EV chargers and accessories maker plans sale of 19.13 million new shares in share sale, raising HK$210 million ($26.79 million) for R&D and expansion of manufacturing capabilities, among others  
** Shares will be offered at HK$10.98 apiece, representing an 11.88% discount to Monday's close of HK$12.46 each
** YTD, stock down 71.2%, Hang Seng TECH Index .HSTECH down 19.4%
     
     
     
     
($1 = 7.8390 Hong Kong dollars)

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))