Lincang Xinyuan Germanium Industry Says No Material Info for Stock Fluctuation
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.