STOCKS | Lixin Energy Warns of Rapid Decline Risk After Recent Share Surge

Lixin Energy said its share price rose sharply recently and that there is a risk of a rapid decline. According to Jin10, the company said the cumulative deviation of its closing price increases over two consecutive trading days on July 23 and July 24 exceeded 20%, and the cumulative deviation over eight consecutive trading days from July 15 to July 24 exceeded 100%. The company said recent stock price volatility was mainly driven by market speculation and sentiment tied to expectations for peak summer electricity demand, and that there had been no major substantive changes in its daily production and operations or in its internal and external business environment.