【Mao's Kwai Chung 1716】Mao's Kwai Chung Resumes Trading on Resumption Day, Lü Yujian Ken Sir Liquidates Position for 24.5 Million Yuan

“100 Mao,” “Mao Kee Television,” “Hui Ba Shi” Parent Company Mao Kee Kwai Chung (01716)
On March 12, after announcing the confirmation of a sell-off, trading resumed the next day. The Hong Kong Stock Exchange disclosure shows that “Ken Sir” Lu Yu Jian cleared his holdings on the day of the resumption at Mao Kee Kwai Chung, involving 16.228 million shares at an average price of HKD 1.51 per share, cashing out approximately HKD 24.5 million. His shareholding dropped from 6.01% to 0%.

Mao Kee Kwai Chung shares were suspended from trading on March 6. After resuming, the stock price fluctuated significantly. It surged 37% on March 13, then increased 1.4 times on March 16, and fell back 25% on March 17, closing at HKD 2.98, still over 97% higher than Lu Yu Jian’s average selling price.

Lu Yu Jian: Mao Kee’s transaction price is reasonable

Lu Yu Jian told our newspaper that he does not know the new shareholder of Mao Kee Kwai Chung. According to online information, the other party has a mainland background, “hoping to bring some new ideas.” Lu Yu Jian believes that Mao Kee’s transaction price is reasonable, considering that 100 Mao’s Facebook has 1.5 million followers and strong data, but its recent performance has been “not very good.”

The selling price of Mao Kee Kwai Chung shares was HKD 0.6963 per share, involving 175.5 million shares, with a transaction amount of HKD 122 million.

Checking the data shows that Lu Yu Jian increased his holdings by 484,000 shares in March 2023, at an average price of HKD 0.8 per share, involving about HKD 38,700, raising his stake to 6.01%.

Source: HKEX Announcement

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