Jiuding New Material Flags Abnormal Trading After 3-Day 20% Share Price Surge

Jiuding New Material said on September 3 that its shares had risen by a cumulative more than 20% over three consecutive trading days from September 1 to September 3, meeting the definition of abnormal stock trading, according to Jiemian News. The company also said it has no electronic glass cloth business, after the market recently grouped it into the “electronic cloth” and “commercial spaceflight” themes. Jiuding New Material said its aerospace-related products account for only a small share of sales, with annual revenue from such products in recent years each below 1% of total operating revenue, and that they will not have a material impact on operating performance.