Net profit grew 6.9% year on year, missing analyst forecasts.

More worryingly, the index heavyweight is giving handouts to local governments, even a state investors down shares.

The company gifted them nearly $14 billion was wiped out from the company's market cap on Monday.

Maltais, a state owned company and has long been contributing to the local economy.

But clearly that's not enough anymore.

In the last quarter, Maltais, third biggest shareholder of Provincially controlled investment vehicle, aggressively cut its stake, cashing in nearly $4 billion worth of shares.

In his latest statement, Multi also announced over 800 million yen in outright donations to help to local governments to build infrastructure project in multi home province of Ridgell.

Government debt is equivalent to nearly 150% of local revenue in 2019 according to what I do and securities, which makes it the most leverage province in China.

Fiscal revenue for the province dropped over 5% in the first nine months.