Honghe Technology said it is planning to issue H-shares and pursue a listing, while cautioning investors about valuation risks after its stock triggered an abnormal trading alert.
According to Jin10, the company said its shares rose sharply over three consecutive trading days, with the cumulative deviation in closing-price gains exceeding 20%, meeting the criteria for unusual movement.
After an internal review, Honghe Technology said its operations remain normal. It said it is currently planning an H-share issuance and listing and has already submitted an application, but noted the matter remains uncertain.
The company also disclosed that its trailing price-to-earnings ratio reached 804.29, significantly higher than the industry average of 112.75. It said the valuation has deviated from fundamentals and warned of risks including overheated market sentiment, irrational speculation, and a potential share-price pullback.
Separately, shareholder UNICORNACE adjusted its planned share reduction, lowering the maximum from 2% to 1.5%.
Jixu
