Pingtan Development stock suspended after 255% surge

Zhongfu Straits (Pingtan) Development Co., Ltd. (SZSE:000592) announced a trading suspension effective November 18, 2025, to investigate abnormal stock price fluctuations. The company's stock surged 255.19% between October 17 and November 17, 2025, triggering multiple abnormal fluctuation warnings. The company states its share price has "severely deviated" from its fundamentals.

The company's latest rolling price-to-earnings (P/E) ratio stands at 555.31 times and price-to-book (P/B) ratio at 12.06 times as of November 17, 2025. This significantly exceeds the industry averages for "C20 Wood processing and wood, bamboo, rattan, palm, and grass products," which are 24.42 times for P/E and 2.96 times for P/B. The company urges investors to exercise caution due to market risk.

The company's core business operations have not undergone any major changes, and no material undisclosed information exists. This rapid ascent in stock price could indicate market overexcitement or irrational speculation. The suspension is anticipated to last no more than three trading days while the company conducts its verification.