DATANG POWER (00991) has announced that its A-shares have experienced a severe abnormal trading fluctuation. From May 6, 2026, to May 19, 2026, the cumulative deviation of the daily closing price increases over ten consecutive trading days exceeded 100%, constituting a situation of severe abnormal stock trading volatility under the rules of the Shanghai Stock Exchange.
Following a self-inspection and verification with its controlling shareholder and actual controller, the company confirms its production and operations are normal. There are no major events currently being planned involving the company, such as significant asset restructuring, share issuance, major transactional matters, business reorganization, share buybacks, equity incentives, bankruptcy reorganization, major business cooperation, or the introduction of strategic investors.
The company's stock price has accumulated substantial gains, leading to significant accumulated trading risks. It has severely deviated from the performance of the Shanghai Composite Index and the relevant industry index during the same period, and the stock price may fall rapidly at any time in the future. Specifically, from May 6 to May 19, 2026, the stock price rose by 101.44%, deviating from the Shanghai Composite Index by 100.04% and from the industry index by 93.97%. The substantial short-term increase has resulted in a severe deviation from these benchmarks, accumulating considerable trading risk. Investors are advised to exercise caution regarding secondary market trading risks.
The stock's turnover rate has been notably higher than historical levels. Over the recent ten trading days since May 6, 2026, the daily turnover rates were 2.66%, 2.69%, 9.81%, 2.25%, 5.51%, 1.97%, 14.98%, 12.30%, 9.49%, and 10.41%, respectively. Starting from May 14, the turnover rate has increased significantly compared to the past, accompanied by a notable surge in trading volume. On May 19, the intraday price amplitude reached 11.22%, indicating potential risks from overheated market sentiment and irrational speculation. The company reminds investors to make prudent decisions and invest rationally.
The company's price-to-book (P/B) ratio is significantly above the industry average. As of May 19, 2026, its latest P/B ratio was 4.21 times, compared to the latest industry average P/B ratio of 1.89 times for the electric power and heat production and supply sector. Investors are advised to note the risk associated with the company's P/B ratio being higher than the industry average.
The company's stock trading has repeatedly triggered abnormal volatility alerts. Between May 6 and May 19, 2026, the company issued three abnormal volatility announcements and two trading risk warnings. Investors are again reminded to be aware of secondary market trading risks.
The company's main business has not undergone significant changes. As of the end of the first quarter of 2026, the proportions of its installed capacity for coal-fired power, gas turbine power, hydropower, wind power, and photovoltaic power were 56.80%, 11.05%, 10.73%, 13.05%, and 8.37%, respectively. Revenue from new energy power generation accounted for approximately 9.23%, representing a relatively small share. To date, the company's operations remain primarily focused on thermal power generation, and it currently has no operational power coordination projects that have been invested in.
Given that the current stock price increase severely deviates from the Shanghai Composite Index and the industry index, investors are urged to pay attention to the high valuation risk indicated by the elevated P/B ratio. They are advised not to be influenced by overheated market sentiment, to invest rationally, and to avoid significant investment losses.