Tatung’s 5 stocks hit limit do
Tatung Group's (2371-TW) Chunghwa Picture Tubes (CPT)(2475-TW) and Green Energy Technology (3519-TW) faced financial difficulties. Datong's stock price fell sharply today on December 14th. Datong, CPT, Green Energy, Forward Electronics (8085-TW) and San Chih Semiconductor (3579-TW) hit limit down. Elitegroup (2331-TW) fell 5.9%, and TSTI (8099-TW) fell 2.8%. There are 5 listed companies in the group hit limit down. Tatung Group had NTD10bn market value wiped out in one day.
Affected by the poor market conditions of the panel, CPT was unable to repay its debts and faced financial crisis. The company announced yesterday on December 13th that it will apply to the Taipei District Court for restructuring and insolvency protection, preventing creditors to do provisional attachment.
Coincidentally, Green Energy also announced that due to Taiwan’s and international polices and economy changes in solar industry, the company suffered financial difficulties as well and its board of directors decided to apply for creditor's rights and debts negotiations.
As two companies have announced financial difficulties, Tatung 's share price plummeted, and the market value shrank simultaneously. Datong hit limit down at NTD32.4, and the market value decreased by NTD8.3bn. CPT hit limit down at NTD1.17, and the market value decreased by NTD840mn. The total trading volumn today was only 762. Green Energy hit limit down at NTD5.52 and the market value decreased by NTD200mn.
In addition, San Chih hit limit down at NTD7.83, the market value decreased by NTD100mn. Forward Electronics also hit limit down at NTD4.43, the market value decreased by NTD77mn. TSTI fell by 2.8%, closed at NTD17.6, the market value decreased by NTD33mn, Elitegroup fell nearly 6%, closed at NTD12.7, the market value decreased by NTD450mn.
There are 5 listed companies out of a total of 8 Tatung Group's listed companies hit limited down, wiping out NTD10bn of Tatung Group's market value.