Xinhua Media, stock code 600825, hit a one-word limit-up again on October 9, marking its ninth consecutive trading day at the daily limit. As of press time, the stock traded at 12.53 yuan per share, with more than 180,000 lots locked on the limit-up board, turnover of 431 million yuan, and a total market value of 13.09 billion yuan. After the market close on October 8, the company announced that its shares had hit the daily limit for eight consecutive trading days from September 21 to October 8, with the cumulative deviation in closing price gains reaching 117.06 percent over those eight sessions, constituting a severe abnormal fluctuation in stock trading. The company said its fundamentals had not changed materially, but the recent share price has seriously detached from fundamentals, and investors participating in trading may face significant risks. If the share price rises abnormally further, the company may apply for a trading halt for verification. Xinhua Media is planning a major asset restructuring, intending to purchase 100 percent equity of Shanghai Interface Cailianshe Technology Co., Ltd. by issuing shares. The company said that as of the announcement date, the audit and valuation work involved in the transaction has not yet been completed, and the deal still needs to go through necessary internal decision-making procedures and obtain approval from the competent regulatory authorities before formal implementation. Whether approval can be obtained and the final timing of approval remain uncertain.
Shanghai Xinhua Media Co LtdThe company warned its share price has hit nine consecutive limit-ups and is seriously detached from fundamentals, with investors facing significant risk and a possible trading halt.
