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Lincang Xinyuan Germanium Industry Says No Material Info for Stock Fluctuation

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Yunnan Lincang Xinyuan Germanium Industry (SHE:002428) said there is no undisclosed material information that could explain the recent abnormal fluctuation of its stock price.

The stock's closing price deviated by more than 20% cumulatively over three consecutive trading days to June 15, according to a Tuesday filing with the Shenzhen bourse.

The company's price-to-earnings ratio has reached 3,290, compared with the industry average of 29.5, prompting concerns of market overheating and irrational speculation.

Shares of the germanium miner rose 2% in recent trade.

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