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Trading Halt Review Completed, ST Jinglan Resumes Trading on March 20
Beijing Business Daily (Reporter Ma Huanchuan, Li Jiaxue) reported on the evening of March 19 that ST Jinglan (000711) announced that the company has conducted an investigation into the recent stock price fluctuations. As the self-inspection has been completed, trading of the company’s stock will resume starting March 20.
The announcement shows that from January 23 to March 12, the stock price increased by 176.79%, during which it repeatedly experienced abnormal trading fluctuations and once experienced a severe abnormal fluctuation. According to the regulatory updates on the Shenzhen Stock Exchange official website, the company’s stock has recently been under close monitoring by the exchange. Some investors engaged in abnormal trading behaviors that affected the normal order of stock trading. The Shenzhen Stock Exchange has taken disciplinary measures such as suspending trading for these investors in accordance with regulations.
ST Jinglan stated that recently, the company’s stock price has experienced significant fluctuations influenced by market sentiment, concept speculation, and other factors. Some market opinions have over-interpreted and overly optimistic expectations regarding the company’s new business development, asset injection, renaming, and valuation restructuring, which are significantly inconsistent with the company’s current actual performance.