BEIJING (Reuters) -Chinese chip firm Cambricon Technologies on Thursday issued a risk alert to investors in a stock exchange filing, citing a sharp rise in its stock prices since late July.
The closing price of Cambricon’s shares on Thursday has increased by 133.9% compared with the closing price on July 28, the filing says, adding that the rise outperformed most peers as well as some stock indexes.
The company has no plan to launch any new products and expects to achieve a full-year operating revenue of 5 billion yuan ($699.02 million) to 7 billion yuan, the filing said.
The share price has surged 142.5% this year, and established record highs for at least two consecutive days after posting a first-half net profit of 1 billion yuan.
($1 = 7.1529 Chinese yuan renminbi)
(Reporting by Beijing Newsroom, Editing by Louise Heavens)
