Hong Kong Stock Exchange orders suspension of trading for cryptocurrency concept stock StarChain, its stock price plunges over 70%

According to Caixin, cryptocurrency concept stock StarChain (00399.HK) announced before the market opened on November 17, 2025, that it was ordered by the Hong Kong Stock Exchange to suspend trading on November 26 due to the exchange questioning the company's ability to meet continued listing qualifications. The stock plummeted by 73% on November 17, closing at HK$0.064 per share, evaporating 91% from its peak at the end of July. The Hong Kong Stock Exchange pointed out that under Rule 13.24 of the Listing Rules, StarChain failed to maintain sufficient operational levels and did not have enough asset value to support its operations, leading to the requirement for the suspension starting on November 26. StarChain responded in the announcement that it has decided to apply for a review with the Listing Committee of the Stock Exchange.

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