Jiangsu Azure Cites No New Data to Justify 20% Stock Rally

MT Newswires Live07-07

Jiangsu Azure (SHE:002245) told investors that its stock soared by 20% for three consecutive trading days, but it found that there was no significant material that could have affected its stock movement, according to a Shenzhen bourse filing on Tuesday.

The lithium battery and LED chip manufacturer's closing price deviated by more than 20% between July 2 and July 6.

The company conducted an internal review and found that it did not have any undisclosed information, material changes, or material matters, nor did its controllers conduct a trade that could have caused the abnormal stock price movement.

The company's shares dropped 7% at the close.

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