Wanxiang Doneed addresses stock volatility amid inquiry

Wanxiang Doneed (SSE:600371) has responded to an inquiry regarding abnormal fluctuations in its stock trading, which saw its share price rise over 20% in the three trading days ending April 10, 2025. The company affirmed that neither Wanxiang Sannong Group Co., Ltd., its controlling shareholder, nor Mr. Lu Weiding, the actual controller, were aware of any significant events impacting the stock price. These events include but are not limited to major asset restructuring, share issuance, M&A activity, debt restructuring, and strategic investments. The company further stated that no trading of Wanxiang Doneed shares occurred by the mentioned parties during the period of unusual stock trading activity. Wanxiang Doneed also confirmed that its operations remain normal with no significant changes in market conditions or industry policies. The company cautioned investors about potential trading risks due to significant short-term stock volatility.