Xinhua Media hit the daily limit-up again on October 9, marking the ninth consecutive trading day of limit-up gains. As of press time, the stock traded at 12.53 yuan per share, with a turnover rate of 2.5 percent, more than 2 million lots locked at the limit-up price, and a total market value of 13.092 billion yuan. After the market close on October 8, the company issued an announcement on severe abnormal stock trading and a stock trading risk warning, stating that its shares had hit the daily limit-up for eight consecutive trading days from September 21 to October 8, 2026, and that the stock price had seriously deviated from the listed company's fundamentals. If the share price rises further abnormally, the company may apply for a trading halt and review. Previously, the company disclosed a plan and summary for issuing shares to purchase assets and a related-party transaction, proposing to acquire 100 percent equity in Shanghai Jiemian Cailianshe Technology Co., Ltd. through a share issuance, a deal that constitutes a major asset restructuring. The announcement said that as of the announcement date, the audit and appraisal work involved in this major asset restructuring is still in progress. Taking into account factors such as the target company's operating performance, asset scale, future profitability, and appraisal pricing, the current share price increase has also seriously deviated from the listed company's fundamentals. There is a risk that the share price may fall rapidly in the future, and this major asset restructuring is subject to significant uncertainty.
Shanghai Xinhua Media Co LtdStock hit limit-up for nine straight days on a sector/theme rally with no company-specific driver; company warns price seriously deviates from fundamentals and may apply for a trading halt.
