Xingye Technology Flags Share Price Volatility After 20% Three-Day Drop

Xingye Technology said its stock closed down enough for three straight trading days that the cumulative deviation exceeded 20%, meeting China's rules for abnormal stock price fluctuations, according to 36Kr. The company also said its planned acquisition targets indium phosphide assets. Its current products are mainly 2-inch and 3-inch indium phosphide substrates, which are mainly used in detectors. Xingye Technology added that VGF single-crystal yields are low, 4-inch product validation requirements are relatively high, and there is a risk that customer validation may not pass. It said none of its current products involve optical module customers.