China Fortune Land stock experiences abnormal trading volatility

China Fortune Land Development (SSE:600340) has announced that its stock has experienced abnormal trading fluctuations. Over the three trading days from May 20 to May 22, 2025, the cumulative deviation of the closing price reached 20%, triggering the Shanghai Stock Exchange's alert. The company stated that its operations are normal and that no undisclosed significant matters exist. China Fortune Land urges investors to exercise caution. The company reported FY2024 revenue of CNY 23,765,486,138.19, a 33.81% decrease YoY, and a net loss attributable to shareholders of CNY -4,817,397,029.00. Q1 2025 revenue was CNY 1,176,580,670.20, down 11.73% YoY, with a net loss attributable to shareholders of CNY -2,700,529,545.44. The company continues to work towards its debt restructuring plan and asset disposal.