STOCKS | Fuda Alloy Falls 9.04% After Intraday Limit Down

According to Jin10, Fuda Alloy fell sharply on September 4 and at one point hit the daily limit down, before closing at 49.98 yuan per share, down 9.04%. The company said the stock price was affected by multiple factors, that it had previously announced a controlling shareholder reduction plan, and that the latest reduction was carried out in line with the earlier plan. It also said silver is one of its raw materials, that it keeps some inventory in advance, and that changes in silver prices affect both inventory and performance. If silver price fluctuations are large, the product side will also be affected.