Xinhua Media hit limit-up again on October 9, marking the ninth consecutive trading day of limit-up. The cumulative gain over nine days reached 135.97%, with the stock closing at 12.53 yuan per share, a turnover rate of 3.7%, over 1.8 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 fluctuations and stock trading risk warning, stating that its stock had hit 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 stock price continues to rise abnormally, the company may apply for a trading halt for review. Previously, the company disclosed a draft plan for issuing shares to purchase assets and related-party transactions, proposing to acquire 100% equity of Shanghai Jiemian Cailianshe Technology Co., Ltd. through share issuance, which constitutes a major asset restructuring. The announcement stated that as of the announcement date, the audit and evaluation 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 valuation pricing, the current stock price increase has also seriously deviated from the listed company's fundamentals. There is a risk of rapid decline in the future stock price, and this major asset restructuring is subject to significant uncertainty.
Shanghai Xinhua Media Co LtdStock hit limit-up for nine straight days on a share-issuance asset-restructuring plan, but the company warns the price seriously deviates from fundamentals and may apply for a trading halt review.
