Xingye Leather Technology Co Ltd002674
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CSRC investigation for suspected information disclosure violations
Impact on stocks 1
Others
Xingye Leather Technology Co LtdXingye Technology has been placed under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations, and its shares were locked at the daily limit-down upon market open on September 7. Earlier, the company only announced its plan to acquire indium phosphide-related assets for 55 million yuan after its share price hit the daily limit-up on June 18, raising market questions about possible early information leakage. The stock had posted seven consecutive limit-up moves before June 29, with a cumulative gain of nearly 100 percent, and touched a record high of 33.88 yuan intraday on July 13. The share price then fluctuated sharply, falling by the daily limit-down for four consecutive trading days from July 15 to 20. As of the latest close, the stock was at 23.26 yuan, down 31.4 percent from its peak. In the first half of the year, the company achieved total operating revenue of 1.391 billion yuan, up 3.89 percent year on year, and net profit attributable to the parent of 42.6912 million yuan, up 36.61 percent year on year.
Xingye Leather Technology Co LtdCSRC investigation for suspected information disclosure violations