STOCKS | Hangdian Shares Hits Limit Down After Forecast Net Profit Surge, Company Says Operations Normal

Hangdian Shares fell rapidly to its daily limit down after it previously released positive earnings news, and it remained locked at the limit down level by the midday close, trading at 44.1 yuan per share with a total market value of 30.5 billion yuan. According to Jin10, a staff member who answered the company’s phone said the company’s production and operations were currently normal and customer cooperation was stable. The staff member added that the stock price fluctuation was a market-driven move, and said some investors might think the company needed to perform better or had other reasons for selling. The report described Hangdian Shares as a fiber-optic-related stock and said the company had previously indicated its net profit was expected to increase by nearly 10 times.