Shang Gong Group (600843.SH) announced that the trading of its A shares of stocks had an abnormal fluctuation for a cumulative period of more than 20% for three consecutive trading days on July 31, August 1 and August 2, 2024. The company's shares rose again on August 5.
Shang Gong Group (600843.SH) announced that the trading of its A shares of stocks had an abnormal fluctuation for a cumulative period of more than 20% for three consecutive trading days on July 31, August 1 and August 2, 2024. The company's shares rose again on August 5.
The company indicated that its main business is engaged in the research and development, production, and sales of industrial sewing equipment. Recently, the company completed the acquisition of ICON's effective assets in the United States through its subsidiary, SG Investment America, Inc. During the subsequent operation and management, there may be risks of integration measures that are difficult to achieve the expected progress and effects, resulting in product delivery failure and uncertainty in the industrialization process of the assets involved in this purchase and the industry in which the company is currently operating, resulting in risks of business development falling short of expectations.