Another sharp rise was questioned by the Malaysian Stock Exchange. Guangyu Industrial: I don't know
The stock price of PIE (PIE, 7095, Main Board Industrial Products) skyrocketed on Friday and was questioned by the Malaysian Stock Exchange on Unusual Market Transactions (UMA), but the company indicated that it was unaware of the stock price changes.
Not long after the opening of the market this morning, the stock price of Guangyu Industrial continued to rise. At one point, it soared to RM1.09 or 17.6% to RM7.28, a new high since listing.
As a result, the company was questioned by UMA by the Malaysia Stock Exchange at noon.
The stock retracted slightly after midday trading and eventually closed at RM7.08. It still surged 89 cents, or 14.4%, throughout the day. The trading volume reached 2.51 million shares, almost three times the average value of the past 4 weeks.
The company also responded to UMA after closing that it was unaware of abnormal fluctuations in the company's stock price, and that there were no unannounced corporate activities.
Questioned by MSWG
In April of this year, Guangyu Industrial also experienced a sharp rise over the past few days. Only then did Kennag Investment Bank release a report saying that the company received a large artificial intelligence server customer.
Guangyu Industrial only announced to the exchange later that it had received the relevant contract. The incident also raised questions from the Minority Shareholders' Rights Supervisory Authority (MSWG) at the time.
At the company's shareholders' meeting in May, MSWG asked why the company did not announce it to the public more than 2 weeks after receiving the contract, and stated that according to the listing regulations, important information must be released immediately to prevent issues such as insider trading and preemptive trading.
According to a briefing after MSWG, Guangyu Industrial explained at the time that the new plant in question was still under construction, and that the new contract would not have a significant impact on this year's financial situation, so it was decided not to issue an announcement “until overall progress is more mature”; only after receiving a request from the Malaysian Stock Exchange, a corresponding announcement was made.
Since the beginning of the year, Guangyu Industrial's stock price has surged 1.17 times.
Not long after the opening of the market this morning, the stock price of Guangyu Industrial continued to rise. At one point, it soared to RM1.09 or 17.6% to RM7.28, a new high since listing.
As a result, the company was questioned by UMA by the Malaysia Stock Exchange at noon.
The stock retracted slightly after midday trading and eventually closed at RM7.08. It still surged 89 cents, or 14.4%, throughout the day. The trading volume reached 2.51 million shares, almost three times the average value of the past 4 weeks.
The company also responded to UMA after closing that it was unaware of abnormal fluctuations in the company's stock price, and that there were no unannounced corporate activities.
Questioned by MSWG
In April of this year, Guangyu Industrial also experienced a sharp rise over the past few days. Only then did Kennag Investment Bank release a report saying that the company received a large artificial intelligence server customer.
Guangyu Industrial only announced to the exchange later that it had received the relevant contract. The incident also raised questions from the Minority Shareholders' Rights Supervisory Authority (MSWG) at the time.
At the company's shareholders' meeting in May, MSWG asked why the company did not announce it to the public more than 2 weeks after receiving the contract, and stated that according to the listing regulations, important information must be released immediately to prevent issues such as insider trading and preemptive trading.
According to a briefing after MSWG, Guangyu Industrial explained at the time that the new plant in question was still under construction, and that the new contract would not have a significant impact on this year's financial situation, so it was decided not to issue an announcement “until overall progress is more mature”; only after receiving a request from the Malaysian Stock Exchange, a corresponding announcement was made.
Since the beginning of the year, Guangyu Industrial's stock price has surged 1.17 times.
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Source: Nanyang Siang Pao
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