STOCKS | Shenglong Shares Hit Limit Down Amid Performance Concerns

On May 20, Shenglong Co., Ltd. experienced a limit-down in its stock price. According to Jin10, Wind data showed that by the close of trading, the company's stock was priced at 21.38 yuan per share. Reports suggest that the decline in stock price is primarily linked to the company's underwhelming performance and the underperformance of its new energy business. In response, Shenglong Co., Ltd. stated that the secondary market stock price is influenced by multiple factors, leading to significant volatility. The company acknowledged that while its new energy business has seen some progress, with earlier investment projects reaching completion and capacity gradually increasing, its operations are still predominantly focused on traditional business sectors.