HK Stock Market Move | UNISOUND (09678) fell more than 17% during intraday trading. It was included in the Hong Kong stock connect on Monday and the stock price has dropped by nearly 40% in the three trading days this week.

UNISOUND (09678) fell by more than 17% during the trading day. The stock was officially included in the Hong Kong Stock Connect on Monday, the stock price opened high and then fell by over 18% that day, followed by three consecutive trading days of decline, with a total drop of nearly 40%. It is worth noting that in the previous month, the company's stock price repeatedly hit new highs, but since September, it has been on a downward trend, giving up all gains since August. As of the time of writing, it has dropped by 11.49%, to 468.2 Hong Kong dollars, with a turnover of 1.19 billion Hong Kong dollars. In terms of news, on September 8th, UNISOUND was officially included in the Hong Kong Stock Connect list. Public information shows that UNISOUND is an AI solution provider, focusing on conversational AI products and solutions, with business focuses in smart living and smart healthcare. In the first half of this year, the company achieved revenue of 4.05 billion yuan, a year-on-year increase of 20.2%; the company's attributable net loss was 2.97 billion yuan, a year-on-year increase of 16.4%. It is worth noting that the company has been continuously losing money for the past three years. According to the previous prospectus, from 2022 to 2024, UNISOUND is expected to incur losses of 3.75 billion yuan, 3.76 billion yuan, and 4.54 billion yuan respectively, with a total loss of 12.05 billion yuan. In addition, by the end of 2024, the company's redemption liabilities are as high as 33.03 billion yuan.