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affected by the hong kong securities regulatory commission's naming of highly concentrated equity, shengneng group (02459.hk) fell sharply. as of press time, it fell 79.90% to hk$4.07.

note: performance of shengneng group

at the same time, the total market value of sun energy group has also shrunk significantly, from hk$20.45 billion at yesterday's closing to the current hk$4.111 billion.

according to public information, shengneng group is a global manufacturer of ultra-high power (uhp) graphite electrodes. its customer base covers more than 25 countries around the world, including major global electric arc furnace manufacturers in the americas, europe, the middle east and africa, asia pacific and china, and its products are sold in the automotive, infrastructure, construction, electrical appliances, machinery, equipment and transportation industries.

in terms of news, shengneng group was named by the hong kong securities regulatory commission as having highly concentrated equity. the results showed that as of august 19 this year, the company had 25 shareholders holding a total of 279 million shares, equivalent to 27.65% of the issued share capital. together with 582.5 million shares held by a controlling shareholder (accounting for 57.67% of the issued share capital), and approximately 49.3095 million shares (accounting for 4.88% of the issued share capital) that were not deposited in the central clearing and settlement system or registered in the hong kong shareholder register, the total amount was equivalent to 90.2% of shengneng group's issued share capital. therefore, only 98.9416 million shares (accounting for 9.80% of the issued share capital) of the company were held by other shareholders.

note: shareholding structure of shengneng group (as of august 19)

recently included in the msci hong kong small cap index

it is worth noting that sun energy group was recently included in the msci index. according to the quarterly review results released by msci, the group was included in the hong kong small cap index, and this change took effect after the stock market closed on august 30. driven by this news, sun energy group's share price reached its highest point since its listing in 2023 on august 30, and the share price once soared to hk$23.10.

note: performance of shengneng group

from the above chart, we can see that the stock price of sunneng group increased by more than 10 times between april 8 and september 2.

in addition, sunenergy group issued a profit warning in mid-august, predicting that the net loss attributable to the company's shareholders will not exceed us$16.5 million in the six months ending june 30, 2024, and the net loss attributable to the company's shareholders will be approximately us$4.2 million in the six months ending june 30, 2023.