Xingye Technology said its shares were flagged for abnormal trading after the cumulative deviation in the stock’s closing-price decline exceeded 20% over two consecutive sessions, according to 36Kr. The company said its proposed acquisition of an indium phosphide business still requires board review and remains uncertain.
Xingye said the target business’s net asset book value is expected to be no more than RMB 25 million, revenue for January–May 2026 is expected to be no more than RMB 5 million, and outstanding orders are no more than RMB 2 million, implying minimal impact on the company’s current revenue and net profit. It added that the indium phosphide assets to be acquired have not been profitable in the past three years and may not turn profitable in the short term. Xingye said its core business is natural leather processing and it has no experience in semiconductors.
Xingye Technology Flags Abnormal Share Move, Says Proposed Indium Phosphide Deal Uncertain
2026-07-01 12:11:21
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