Zhaoyan's new drug stock price hits limit down, Company's latest response

On March 17th, the stock price of Zhaoyan Pharmaceutical fell by the limit. In terms of news, the company's shareholders Gu Xiaolei and his concerted action person Gu Meifang plan to "clear the warehouse" to reduce their holdings. In response to this, a staff member of the securities department of Zhaoyan Pharmaceutical stated that the sharp drop in stock price was mainly affected by the reduction of holdings news. The above-mentioned shareholders have been reducing their holdings, but the extent of this reduction exceeded expectations, hence the market reaction was significant. "The above-mentioned shareholders were already important shareholders of the company before it went public, and part of the reduction in holdings comes from holdings acquired before the IPO. There has been no significant change in the company's operations at present," said the staff member of the securities department of Zhaoyan Pharmaceutical.