Shengu Group plunges 67% from peak, market cap halved 6 days after IPO surge
Shengu Group, listed on the Shanghai Stock Exchange on September 17 at an IPO price of 4.39 yuan, surged 373.8% on its debut and peaked at 82.59 yuan on September 18. By September 24, the stock hit the daily limit down at 27 yuan, a 67.3% decline from its peak, halving its market cap to about 84 billion yuan. The Shanghai Stock Exchange intervened, suspending accounts for abnormal trading, and the company issued a risk warning about valuation exceeding industry averages.
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Shengu Group Shares Hit Daily Limit on 6th Trading Day, Market Cap Halved from Peak
Shengu Group's stock price hit the daily limit down on September 24, closing at 27 yuan, with a market capitalization of 84 billion yuan, halved from the September 18 close of 57.77 yuan (market cap ~179.66 billion yuan). The stock debuted on the Shanghai Stock Exchange main board on September 17 at an IPO price of 4.39 yuan, the lowest for a 2026 Shanghai main board new stock. On its first day, it surged 373.80% with two trading halts. The next day, it fell nearly 28% at the open before rebounding to an intraday high of 82.59 yuan, closing up 177.74% with two more halts. The Shanghai Stock Exchange issued a statement on September 21 warning of abnormal trading behavior and said it would closely monitor the stock. The company's trailing P/E ratio exceeds 240 times, far above fundamentals. Shengu Group reported revenues of 82.06 billion yuan (2023), 93.09 billion yuan (2024), and 101.22 billion yuan (2025), with net profits of 3.55 billion, 4.42 billion, and 7.39 billion yuan respectively. The company forecasts a 10.75% to 15.34% decline in net profit for 2026, indicating earnings pressure.
Read sourceShengu Group Shares Hit Daily Limit on 6th Day, Market Cap Halved After IPO Surge
Shengu Group's stock price hit the daily limit down on September 24, closing at 27 yuan with a market cap of 84 billion yuan, halving from its September 18 close of 57.77 yuan (market cap ~179.6 billion yuan). The stock debuted on the Shanghai Stock Exchange main board on September 17 at an IPO price of 4.39 yuan, the lowest for a 2026 Shanghai main board new stock. On its first day, it surged 373.80% with two trading halts. The next day, it fell nearly 28% at open before rebounding to an intraday high of 82.59 yuan, closing up 177.74% with two more halts. The Shanghai Stock Exchange issued a statement on September 21 warning of abnormal trading behavior and said it would closely monitor the stock. The company's trailing P/E ratio exceeded 240 times, significantly above fundamentals. Shengu Group reported net profits of 355 million yuan (2023), 442 million yuan (2024), and 739 million yuan (2025), but forecasts a 10.75% to 15.34% decline in net profit for 2026.
Read sourceShengu Group shares hit daily limit on 6th trading day, market cap halves from peak
On September 24, Shengu Group's stock price hit the daily downside limit at 27 yuan, reducing its market capitalization to 84 billion yuan. This represents a halving of both price and market cap from the closing levels on September 18 (57.77 yuan, ~179.66 billion yuan), just six days after its listing on the Shanghai Stock Exchange. The stock debuted on September 17 at an IPO price of 4.39 yuan, the lowest for a Shanghai main board new stock in 2026, and surged 373.80% on the first day. The following day saw extreme volatility, with the stock dropping nearly 28% at the open before rallying to an intraday high of 82.59 yuan, closing up 177.74%. The Shanghai Stock Exchange issued two statements on September 18 and 21, warning of abnormal trading behavior and imposing self-regulatory measures on violators. The company's trailing P/E ratio now exceeds 240 times, far above fundamentals. Shengu Group reported revenues of 82.06 billion, 93.09 billion, and 101.22 billion yuan for 2023-2025, with net profits of 3.55 billion, 4.42 billion, and 7.39 billion yuan respectively. The company forecasts a 10.75% to 15.34% decline in net profit for 2026.
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Shengu Group shares plunge 67% from peak, market cap loses over 170 billion yuan
Shengu Group's stock price fell by the daily limit of 10% to 27.00 yuan on September 24, with a market cap of 83.97 billion yuan. The stock has dropped 67.3% from its peak of 82.59 yuan on September 18, erasing over 170 billion yuan in market value. The stock surged 373.8% on its debut on September 17, reaching a maximum gain of 1,781.32% from its IPO price of 4.39 yuan, earning it the nickname 'god stock' among netizens. The extreme volatility was attributed to a combination of factors: a very low public float (only 6.79% of shares tradable in the first five days), a low issue price, and the company's status as a domestic leader in heavy centrifugal compressors and nuclear pumps, which attracted speculative trading. The Shanghai Stock Exchange intervened on September 18 and again on September 21, imposing trading restrictions on some investors for abnormal trading behavior. The company also issued a risk warning on September 18, noting its valuation significantly exceeded the industry average and warning of a sharp correction risk.
Read sourceShengu Group shares plunge 67% from peak, market cap loses over 170 billion yuan
Shengu Group shares hit the daily limit down on September 24, closing at 27.00 yuan, a 10% drop, with a market cap of 83.97 billion yuan. The stock has fallen 67.3% from its September 18 high of 82.59 yuan, erasing over 170 billion yuan in market value. The stock surged 373.8% on its September 17 debut, reaching a peak gain of 1,781.32% from its IPO price of 4.39 yuan, driven by its status as a domestic leader in heavy compressors and nuclear pumps, a low float of 6.79%, and no price limits in the first five trading days. The Shanghai Stock Exchange has imposed trading restrictions on some investors for abnormal trading, and the company issued a risk warning about valuation significantly exceeding industry averages.
Read sourceShengu Group plunges 67% from peak, market cap halved 6 days after IPO surge
Shengu Group, a Chinese industrial company, experienced extreme volatility in its first six trading days after listing on September 17. The stock surged 373.8% on its debut, triggering multiple trading halts, but then reversed sharply. By September 24, the stock hit the daily limit down at 27 yuan, a 67.3% decline from its September 18 high of 82.59 yuan. Its market capitalization fell to approximately 840 billion yuan, halving from 1,796.6 billion yuan at the September 18 close. The Shanghai Stock Exchange intervened, issuing warnings and suspending trading accounts of certain investors for abnormal trading behavior that disrupted normal order. The exchange stated it would continue to closely monitor trading in the stock and take regulatory actions as needed.
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