Ningbo Marine stock experiences unusual trading volatility

Ningbo Marine (SSE:600798) has announced that its stock experienced abnormal trading fluctuations after the closing price increased by over 20% over two consecutive trading days (June 20 and June 23, 2025). The company confirmed it is unaware of any undisclosed material information that would account for the trading activity after consulting with its controlling shareholder, Ningbo Marine Group Co., Ltd, and its concerted action party, Zhejiang Provincial Energy Group Co., Ltd. However, it cautioned investors about potential risks related to its financial performance, referencing previously released reports indicating a significant decline in net profit attributable to shareholders, with 2024 reporting a decrease of 80.20% year-over-year to CNY 2,212,470 and a loss of CNY -1,316,730 after excluding non-recurring gains and losses. The first quarter of 2025 also showed a loss of CNY -4,645,130, which is not audited by the accounting company. Ningbo Marine urged investors to exercise caution and make informed decisions, pointing to risks in the secondary market.