On July 26, Gelunhui reported that the Xiamen King Long Motor Group (600686.SH) announced that the cumulative deviation of the closing prices of the company's stock trades for two consecutive trading days (July 25 and July 26, 2024) reached 20%, which belongs to abnormal fluctuations in stock trading according to the relevant regulations of the Shanghai Stock Exchange.
The company has noticed recent media reports related to the concept of self-driving car stocks. The company's current main business is ordinary passenger cars requiring personnel to drive, and the sales revenue of self-driving passenger cars is no more than 0.3% of the company's operating income in 2023, which is a very small proportion. Furthermore, since the product's development and production in 2017, there hasn't been significant changes in the sales volume of self-driving passenger cars - the market is still in the exploratory stages and not yet matured. Uncertainties still exist in the technology research and development, product competition ability, profitability, and other aspects of the company's self-driving car products. The production and sales of this type of product are impacted by multiple factors, such as future market demand, changes in industry and national policies, etc., and therefore, there is great uncertainty about its impact on the company's future performance.