Xiamen King Long Motor Group (600686.SH) announced that the company's stock has traded for three consecutive trading days (July 19, 22, and 23, 2024) and the cumulative deviation of the closing price from the previous day has exceeded 20% . According to the relevant provisions of the "Trading Rules of the Shanghai Stock Exchange", this situation belongs to abnormal stock trading volatility.
Jintong Finance App News, Xiamen King Long Motor Group (600686.SH) announced that the daily closing price of the company's stock has deviated from the previous day for three consecutive trading days (July 19, 22, and 23, 2024), and the cumulative deviation has exceeded 20%. This situation belongs to abnormal stock trading volatility according to the relevant rules of the Shanghai Stock Exchange trading rules.
The company stated that it has noticed recent media reports related to the company as a "concept stock" for self-driving cars. The company's current main business is ordinary passenger cars that require human driver. The sales revenue of self-driving passenger cars will not exceed 0.3% of the company's revenue in 2023, which is a very small proportion, and since the relevant products were developed and put into production in 2017, the sales scale has not changed significantly.
The market for self-driving passenger cars is still in the exploratory stage and is not yet mature. There is still uncertainty in the technology research and development, product competitiveness, and profitability of the company's relevant products in the future. The production and sales of such products are affected by various factors such as changes in future market demand, industry and national policy changes, which may have a greater impact on the company's future performance.