According to Zhitong Finance APP, CSC Development (00830) shares fell more than 8% in the afternoon session. As of press time, the stock was down 8.21% at HK$0.615, with a turnover of HK$1.2388 million.

On the evening of October 3, in response to recent public concern over rebar configuration issues at a luxury residence, the Hong Kong Special Administrative Region Government's Buildings Department issued an announcement stating that it is investigating the matter. It was found that a horizontal beam on the lower ground floor of the involved detached house lacked the steel wire mesh in its protective layer as required by the approved plans, and that the rebar configuration of some floor slabs did not conform to the approved plans.

The detached house belongs to the ONE STANLEY project located in the Stanley area of Hong Kong. The developer and seller of ONE STANLEY told the media that they attach great importance to the Buildings Department's follow-up on certain construction quality issues of the detached house, as well as recent remarks made on social media regarding the matter, and will follow up seriously.

According to the project's official website, the main contractor for the development is Hai Yue Construction Engineering Limited, which is a wholly-owned subsidiary of CSC Development.