Chinese Company 'Benchmarking' against Nvidia, Stock Price Surges Over ¥1300, Now Delisted

Reported about 1 year ago

According to the Shenzhen Stock Exchange announcement on the evening of June 28, 2024, 'Zuojiang Technology' has terminated its listing. Zuojiang Technology, a concept stock in DPUs (Graphics Processing Units), had once claimed to 'benchmark against Nvidia.' In July last year, the stock price soared to RMB 299.8 (approximately NT$1,350), but after less than five years of listing, the company exited the market, leaving thousands of investors trapped. The company was mainly involved in the design, development, production, and sale of network information security-related software, hardware platforms, boards, and chips. However, following a financial investigation by the China Securities Regulatory Commission for suspected significant financial fraud, the stock price plummeted to RMB 6.94 on the last trading day, down 97% from its peak in July last year, with 12,000 shareholders affected.

Source: YAHOO

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