The Hong Kong Stock Exchange has ordered the suspension of cryptocurrency concept stock Star Chain, causing its stock price to plummet by over 70%

According to Caixin, cryptocurrency concept stock Star Chain (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 failure to meet the continuing listing requirements. The stock plummeted 73% on November 17, closing at HKD 0.064 per share, a 91% drop from its peak price at the end of July.

The Hong Kong Stock Exchange pointed out that according to Rule 13.24 of the Listing Rules, Star Chain has failed to maintain sufficient operational levels and does not have sufficiently valuable assets to support its operations, which allows its shares to continue to maintain listing status. Therefore, it requires the company to suspend trading starting November 26. Star Chain responded in the announcement that it has decided to apply to the Listing Committee of the exchange for a review.