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Aiai Precision Clarifies: Neither Company Nor Acquirer Involved in Indium Phosphide Business
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Aijin Precision (艾艾精工) issued a stock price anomaly announcement on September 22, stating that its stock price has surged 156.45% since July 14, triggering four abnormal upward fluctuations and one abnormal downward fluctuation. The company clarified that its main business remains light conveyor belts and precision metal structural parts and electronic components, with no significant changes. It explicitly stated that neither the company, the acquirer Shanghai Yusheng, nor its controlling shareholder are involved in indium phosphide-related businesses. Additionally, Shanghai Yusheng, its controlling shareholder Guangxi Yusheng, and actual controller Yuan Yuan have no clear plans within the next 12 months to sell, merge, or jointly venture the listed company's assets or business, nor any definite restructuring plan to purchase or replace assets.
Source report
Shanghai, September 22 — Aiai Precision (stock code: 600XXX) issued a statement on September 22, warning that its stock price has experienced significant short-term gains, with a cumulative increase of 156.45% since July 14.
The company noted that its shares have recently triggered four abnormal upward price fluctuations and one abnormal downward fluctuation. On September 18, 21, and 22, the stock's closing price deviation from the relevant index reached 20% over three consecutive trading days, including hitting the daily price limit on September 21 and 22.
Business Operations Unchanged
Aiai Precision's main business lines include:
- Light conveyor belts
- Precision metal structural parts
- Electronic components
The company stated that its core business has not undergone any major changes to date. Furthermore, neither the company, the acquirer Shanghai Yusheng, nor its controlling shareholder is involved in any indium phosphide-related business.
No Restructuring Plans
As of the announcement date, Shanghai Yusheng, its controlling shareholder Guangxi Yusheng, and actual controller Yuan Yuan have no clear plans within the next 12 months to:
- Sell, merge, or form joint ventures involving the assets or businesses of the listed company or its subsidiaries
- Acquire or replace assets of the listed company through restructuring
Source
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Part of this Story
Aiai Jinggong Says Company, Acquirer, and Parent Not Involved in Indium Phosphide Business