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China Plastic Holdings Clarifies Subsidiary's Drill Equipment Focus as Share Price Rises 20% in 3 Days

GateNews

2026-05-26 09:54:16

On May 26, China Plastic Holdings announced that its share price posted a cumulative deviation of over 20% across three consecutive trading days (May 22, 25, 26), prompting an official clarification. The company stated that subsidiary Hongchuang Intelligent manufactures precision drilling equipment used for microdrills production and processing, not PCB (printed circuit board) production as some online users had speculated. Hongchuang Intelligent, which began production of fully automatic micro-drill grinding equipment in 2026, remains in early stages and contributes only a small portion to the parent company's revenue.

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