China Fortune Land stock experiences abnormal trading fluctuations

China Fortune Land Development (SSE:600340) has announced that its stock experienced abnormal trading fluctuations after the closing prices on May 16 and May 19 triggered exchange-defined thresholds. The company confirmed, following internal reviews and inquiries with major shareholders, that current operations are normal and there are no undisclosed material events pending. Investors are cautioned about potential secondary market trading risks due to the stock's recent price increases. The company reported CNY 23,765,486,138.19 in revenue for 2024, a decrease of 33.81% year-over-year, with a net loss attributable to shareholders of CNY -4,817,397,029.00. For the first quarter of 2025, revenue was CNY 1,176,580,670.20, down 11.73%, with a net loss attributable to shareholders of CNY -2,700,529,545.44. The company also reminded investors about the progress and potential risks associated with its debt restructuring plan and a major asset sale.