Hehe, why did Xincheng fall so badly?

Changes in the industry environment, changes in investor sentiment.

1. Changes in industry environment: If the industry environment where Hehe New Town is located changes, such as policy adjustment and declining market demand, it will have a negative impact on the company's operation and lead to a decline in the stock price.

2. Changes in investor sentiment: Changes in investor sentiment will also have an impact on the share price of Hehe New City. For example, investors' trust in Hehe Group has decreased, or their confidence in the real estate market has weakened, leading to a decline in the share price of Hehe New Town.