Jingcheng Machinery: A-share trading has been highly volatile; relevant risks are flagged.

Jingcheng Machinery announced that the closing prices of the company's A-shares over multiple consecutive trading days recorded a cumulative deviation in price increase exceeding 20%, constituting abnormal trading fluctuations. The stock subsequently hit the daily limit-up again, with a cumulative increase of 33.10% over the past N trading days, and its turnover rate was higher than normal levels. The latest price-to-book ratio stood at 6.57, significantly higher than the industry average of 3.47 for the special equipment manufacturing sector to which it belongs, suggesting the possibility of irrational speculation. The company's main business remains equipment manufacturing and has not changed. For the first half of 2026, the company reported a net loss attributable to shareholders of RMB 62.6339 million, and a net loss attributable to shareholders after deducting non-recurring gains and losses of RMB 67.6442 million. The company's controlling subsidiary, Beiyang Tianqing, is under investigation by the CSRC on suspicion of providing information containing false records during the restructuring process, among other issues. Currently, the company and Beiyang Tianqing are operating normally. There are no major matters that should be disclosed but have not been disclosed. Investors are advised to be aware of investment risks.