STOCKS | Shandong Sacred Sun Says Liquid-Cooled Energy Storage Products Have Not Generated Revenue

Shandong Sacred Sun Power Sources Co., Ltd. said its shares were flagged for abnormal trading volatility after the cumulative deviation in closing-price gains exceeded 20% over two consecutive trading days on June 23 and June 24. According to Jin10, the company said it has noted market attention on its businesses related to liquid-cooled energy storage systems, sodium-ion batteries, and solid-state batteries. The company said its liquid-cooled energy storage system products are in the market-oriented promotion stage. It added that projects it has won bids for have not yet completed delivery and have not generated revenue. Shandong Sacred Sun said its sodium-ion battery and solid-state battery products are in a pilot application stage and have not produced revenue. It added that mass production would still require a relatively long cycle and that these businesses are not expected to have a material impact on its operating performance in the short term. The company also said its controlling shareholder has no major matters that should be disclosed but have not been disclosed.