Changchun High-tech’s Stock Price Hits New Low, Company Responds to Divorce News
Changchun High-tech, a pharmaceutical company in Northeast China, saw its stock price plummet to a new low last week, influenced by news of the sky-high divorce of senior executives. The company’s stock price dropped by more than 6% on January 12th, hitting a low not seen since March 2019.
The company held a conference call with 490 participants from 252 institutions to address investor concerns. The company disclosed that there were no special designs or special considerations regarding the divorce of senior executives. Additionally, 56 shares will be lifted next week, and 2 shares will have full-year performance pre-cut.
It is worth noting that Changchun High-tech’s main profit comes from its subsidiary Jinsai Pharmaceutical, and a key figure in the company, Dr. Jin Lei, leads the core management team of Jinsai Pharmaceutical. The performance of Jinsai Pharmaceutical has a direct impact on Changchun High-tech, with its revenue accounting for the majority of Changchun High-tech’s total revenue and net profit.
Next week, 56 stocks will be lifted, with a total market value of the stocks reaching 56.996 billion yuan. Some of the top stocks in terms of market capitalization after the ban is lifted include Tianneng Group, Hexing Group, AVIC Aircraft, China Southern Power Grid Energy, and TPV Technology.
The stock prices of the 56 stocks that will be lifted next week have fallen by an average of 8.6% since January, with only 7 stocks recording positive values. Among the top gainers are Sante Cableway, Yuntianhua, and Pangu Intelligent, which all rose by more than 3%.
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