HK Stock Market Move | STERLING GP (01825) extends decline by over 17%, down more than 80% over the past three days, with multiple recent abnormal position transfers.

STERLING GP (01825) extended its decline by over 17%, down more than 80% over the past three days. As of press time, it fell 17.36% to HK$2, with a turnover of HK$11.2408 million. On the news front, within one month since August 14, STERLING GP has seen multiple consecutive abnormal position transfers and deposits, with the highest single transaction accounting for 16.54%, involving multiple brokerage seats including Zhuo Rui Securities, Yongfeng Jin Securities, and Yuanta Securities. On September 17, the stock's position transfer scale further expanded, with a single-day transfer market value of HK$75.7976 million, accounting for 22.89%, the highest single transaction during the period. Shareholders transferred 2.954 million shares into Yuanta Securities Hong Kong, while another 2.026 million shares were transferred out from Liqiao Securities. STERLING GP is an investment holding company primarily engaged in the manufacturing and trading of apparel products. Earlier this month, the company issued a placing announcement, proposing to place up to 8.2944 million shares at HK$6.8 per share, a discount of approximately 19.53% to the closing price of HK$8.45 on that day, with expected net proceeds of approximately HK$55.9 million. The proceeds are intended to be used for apparel business expansion and general working capital supplementation.