DATANG POWER (00991): A-share stock trading shows serious abnormal fluctuations. The company mainly engages in thermal power generation and has not yet launched any operating co-development projects.

Datang Power (00991) announced that the A-share stock of the company experienced abnormal trading conditions due to a cumulative deviation of over 100% in the closing prices for 10 consecutive trading days from May 6, 2026, to May 19, 2026, as per the rules of the Shanghai Stock Exchange. After conducting internal checks and verifying with the controlling shareholders and actual controllers, the company confirmed that its production and operations are normal. There are no major asset restructuring, stock issuances, significant transactions, business restructuring, share repurchases, equity incentives, bankruptcies, major business collaborations, introduction of strategic investors, or other significant matters involving the company. The significant increase in the company's stock price has accumulated substantial trading risk, severely deviating from both the Shanghai Composite Index and the industry index. There is a possibility of a rapid decline in the stock price in the future. From May 6, 2026, to May 19, 2026, the company's stock price has surged by 101.44%, deviating from the Shanghai Composite Index by 100.04% and industry index by 93.97%. The stock price has a high short-term increase, accumulating significant trading risk and the potential for a future decline. Investors are advised to be cautious of secondary market trading risks. The company's stock turnover rate is higher than before. From May 6, 2026, onwards, the turnover rates for the past ten trading days were 2.66%, 2.69%, 9.81%, 2.25%, 5.51%, 1.97%, 14.98%, 12.30%, 9.49%, and 10.41%. After May 14, the turnover rate of the company's stocks significantly increased, with a substantial increase in trading volume. On May 19, the intraday volatility reached 11.22%, indicating a possible risk of market speculation and irrational trading. The company advises investors to make decisions cautiously and invest rationally. The company's price-to-book ratio is significantly higher than the industry average. As of May 19, 2026, the company's latest price-to-book ratio is 4.21 times, considerably higher than the industry average of 1.89 times for the electric power, heat production, and supply industry. Investors are advised to be cautious of the risk associated with the company's price-to-book ratio being higher than the industry average. The company's stock has experienced abnormal trading conditions multiple times. From May 6, 2026, to May 19, 2026, the company issued three announcements regarding abnormal trading conditions and two risk reminders. Investors are advised to be cautious of secondary market trading risks. There have been no major changes in the company's main business. As of the end of the first quarter of 2026, the company's proportions of coal power, combustion engine, hydroelectric, wind power, and photovoltaic installations were 56.80%, 11.05%, 10.73%, 13.05%, and 8.37% respectively. The revenue from new energy power generation accounted for approximately 9.23%, which is relatively small. Currently, the company focuses on thermal power generation, with no operational cooperative projects. The significant deviation of the company's current stock price from the Shanghai Composite Index and industry index highlights the risk of high price-to-book valuation. Investors are advised to avoid being influenced by market speculation, invest rationally, and prevent significant investment losses.