Sept 10 — Huamai Technology shares hit the daily limit-down after three
consecutive limit-up sessions. The company said the share price movement
reflected multiple factors including industry supply-demand and market
sentiment. It flagged recent rises in optical fiber input costs for its optical
cable products but said those price increases are not sustainable and may
reverse, creating uncertainty for future earnings. On a reported discounted
transfer by the controlling shareholder, Huamai said actual controller Xu Aimin
is transferring part of his holdings by agreement to repay pledged-stock
financing loans and reducing pledge risk.
