Hainan Development stock fluctuates amid subsidiary bankruptcy

Hainan Development's stock, SZSE:002163, exhibited abnormal fluctuations, with its closing price deviation accumulating over 20% across three consecutive trading days (December 8-10, 2025). The company confirmed no undisclosed material information, no recent media reports significantly impacting stock prices, and no changes in its operational or external environment. Neither the company, its controlling shareholder, nor its actual controller were involved in stock trading during this period.

The stock fluctuation coincides with the ongoing bankruptcy liquidation of Haikong Sanxin (Bengbu) New Energy Materials Co., Ltd., a majority-owned subsidiary. Haikong Sanxin, which has been consistently unprofitable and is insolvent, had its bankruptcy liquidation application accepted by the Bengbu Longzihu District People's Court on December 1, 2025, and was officially accepted by the court via a civil ruling on December 11, 2025.

Hainan Development is proceeding with the bankruptcy liquidation to cut losses and will account for the financial impact according to accounting standards. The company reminds investors that information is subject to disclosures on the Securities Times and Juchao Information Network.