Shares of IFBH (06603) have tumbled more than 10% during trading, touching an intraday low of HK$3.905—a new record low since its listing. At the time of writing, the stock was down 9.32% at HK$3.94, with turnover reaching HK$2.92 million.

On the news front, starting September 7, IFBH has been officially removed from the Stock Connect list. Following its removal, investors using the Stock Connect channel will only be able to sell their existing holdings but will no longer be permitted to purchase additional shares.

Notably, the key reason behind IFBH's exclusion from Stock Connect is its persistently sluggish market capitalization. As of the time of writing, the company's market value stands at approximately HK$1 billion, having plummeted by over 90% from its peak shortly after going public.

In the first half of this year, IFBH recorded revenue of US$50.395 million, a year-on-year decline of 46.65%. Profit attributable to owners of the parent company came in at US$4.582 million, down 69.4% from the same period last year. In its financial report, IFBH attributed the revenue drop to weak consumer sentiment during the first half, additional pressures on the beverage industry from unfavorable weather conditions, and global shortages of PET, other packaging materials, and coconut water, which constrained production schedules and product availability, adversely impacting sales.