NUOBIKAN's stock soared 5.45% during intraday trading on Tuesday, marking a significant upward movement.

The surge follows the company's clarification announcement regarding supplier Hengxin Dongfang's administrative penalty for inflating revenue in its 2022 annual report. NUOBIKAN stated it only maintained ordinary business dealings with the supplier, was unaware of the incident, and confirmed all past transactions were genuine and properly recorded. This clarification has eased market concerns over potential financial compliance issues.

Additionally, the stock's limited free float of approximately 30 million shares with high daily turnover tends to amplify price swings in both directions on any news catalyst, contributing to the volatile rebound.