Elegant Living announced that its stock repeatedly triggered abnormal fluctuation conditions between July 21 and July 31, 2026, and will be halted from trading starting August 3, 2026, for a review. The company stated that its fundamentals have not changed materially, but the stock price has significantly detached from fundamentals, exposing investors to considerable market risk. The stock had posted nine consecutive limit-up sessions, all at the daily ceiling, following news of a cross-industry acquisition of storage testing company Oconnor, with a cumulative gain exceeding 135%. It closed at 22.54 yuan per share, with unfilled buy orders exceeding 41,000 lots. The company previously disclosed plans to acquire no less than 77.08% of Oconnor's equity using its own funds and self-raised cash, with an overall valuation not exceeding 650 million yuan, but a formal agreement has yet to be signed and uncertainties remain.
Zhangjiagang Elegant Home Tech Co LtdTrading halt and warning that stock price detached from fundamentals, despite acquisition news.
Acquisition target Oconnor, with planned acquisition of 77.08% equity at valuation up to 650 million yuan.