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China Spacesat Cites No Major Issues for Recent Stock Plunge; Shares Down 4%

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China Spacesat (SHA:600118) urged investors to exercise caution and avoid speculative decisions following the recent fluctuation of its stock.

The satellite manufacturer's closing price tumbled by more than 20% over two days from July 14 to July 15, according to a Thursday filing with the Shanghai bourse.

Following an inquiry with its controlling shareholder and actual controller, the company said it has no undisclosed material information that may impact its stock price.

Shares of China Spacesat fell nearly 4% in recent trade.

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