China Tianrui Cement experienced a dramatic fall in its stock value, dropping 99.4% in a matter of minutes before the close of trading in Hong Kong on Tuesday, which resulted in a loss of over US$1.8 billion in market capitalization. Following this unprecedented drop, the company suspended trading on Wednesday, pending an announcement of inside information. This event also affected Haosen Fintech, which saw its stock fall by 91%. The significant sell-off was highlighted by the fact that the stock was majorly owned by a single controlling shareholder and their spouse, holding -72% of the stock. Another Hong Kong penny stock, Xinji Shaxi, also suspended trading before experiencing a 76% tumble. The reasons behind these drastic market movements have yet to be disclosed by the companies involved.