Shenghong Technology Shares Surge Over 40% in Four Days; Firm Says Operations Normal, Orders Growing
Shenghong Technology's shares closed at RMB 280.2 on August 7, up 12.01% for the day and over 40% in four consecutive sessions since August 4. In a late-evening filing, the company confirmed normal operations, growing order backlog, and smooth progress on co-developed products, with some clients releasing long-term demand for 2027-2028. The stock had earlier retreated from a May high above RMB 400 to a July 30 low of RMB 177.88.
On August 7, Shenghong Technology's shares closed at RMB 280.2 per share, up 12.01% for the day. Over the four consecutive trading sessions since August 4, the stock has risen more than 40% in cumulative terms.
On the evening of August 7, the company disclosed a notice on abnormal share-price movements. According to the notice, after self-inspection, the company's production and operations are normal, the order backlog continues to grow, and research-and-development iteration products developed jointly with core customers are progressing smoothly. Some customers have already released long-term demand for 2027 and 2028. The company's business conditions have not undergone major changes, and no significant adjustments have occurred in the market environment or industry policies.
Shenghong Technology focuses on the research, development, production, and sale of high-precision multilayer boards, HDI boards, FPCs, and rigid-flex boards. The company operates five R&D bases in Guangdong, Hunan, Malaysia, Thailand, and Vietnam (under construction), with products applied in artificial intelligence, big data centers, industrial internet, automotive electronics, next-generation communications technology, new energy, aerospace, and medical instruments.
Before the recent share-price rally, Shenghong Technology's stock had peaked above RMB 400 per share in late May, then retreated to a low of RMB 177.88 on July 30.
On July 13, the company had issued a clarification notice, stating it had noticed negative rumors circulating on online platforms regarding its products, market share, and project progress. The company said the content was seriously untrue and had caused significant negative impact. After verification, the relevant statements were not factual. The company stated that production and shipments were normal, orders from leading customers continued to increase, and it maintained close communication with core customers, with co-developed R&D iteration products progressing smoothly.