Shanghai New Power Automotive Technology (600841.SH) announced that its A-share stocks' trade deviation hit 20% on both July 25 and July 26, 2024, according to relevant regulations in the Shanghai Stock Exchange's trading rules.
According to the announcement by Shanghai New Power Automotive Technology (600841.SH), the company's A-shares experienced abnormal fluctuations in stock trading due to cumulative price rise deviation exceeding 20% over two consecutive trading days on July 25 and July 26, 2024, in accordance with the relevant regulations in the Shanghai Stock Exchange's trading rules.
The company stated that the A-share stock price had risen by 60.19% since July 9, 2024, which is a significant increase. During the same period, the cumulative increase in the SW Automotive Parts Index was 0.58%, while the SSE Composite Index fell by 1.08%. The A-share stock price of the company was significantly higher than the industry and SSE Composite Index in the short term due to excessive market sentiment. But the company's fundamentals have not changed significantly, and there is no undisclosed material information that should be disclosed. The short-term continuous rise in the stock price carries the risk of excessive valuation.