Migao Group Holdings Limited (HK:9879) has released an update.
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Migao Group Holdings Limited has announced a significant concentration of its shares among a limited number of shareholders, with 13 shareholders and the company’s chairperson, Mr. Liu Guocai, collectively holding 99.04% of the issued shares. Despite a profit warning and a reported net profit decrease for the year ended 31 March 2024, the company’s share price saw a substantial increase of 87.5% from 17 April 2024 to 1 August 2024. Investors are advised to exercise caution due to potential share price volatility resulting from the concentrated shareholding structure.
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