STOCKS | Nanshan Holding Hits Limit Down, Says Operations Unchanged

Nanshan Holding’s shares fell to the daily limit in morning trading on June 9. According to Jin10, Wind data showed that as of the midday close on June 9, the stock was at 2.39 yuan per share, down 10.15%. In response, Nanshan Holding said the share price was influenced by multiple factors and that the company’s operations had not changed, adding that the move was mainly driven by speculative capital. On its core real estate business, the company said it is currently focused more on developing existing projects. It also said its warehousing and logistics business, affected by cyclical factors, was at a relatively low point. Nanshan Holding added that it holds such properties with a greater emphasis on cash-flow returns and asset management capabilities. The company also said it still has a manufacturing business, and that its share of the overall business is now not small.