Shanghai (Gasgoo)- On September 27, BAIC BJEV’s market value plunged by RMB 18.6 billion after BAIC Bluepark, the shell company for the company to go public, resumed trading on Shanghai stock exchange.
The opening price of BAIC Bluepark is RMB 14.66, but the company had to halt trading temporarily with a share decrease of 12.36 percent to RMB 13.19. After the trading resumption, the price continued to fall and ended with another trading suspension. In the afternoon trading, the closing price was RMB 9.5, down 36.88 %. Thus, the market value of BAIC BJEV slumped by around RMB 18.6 billion.
Source close to BAIC BJEV said there is nothing to worry about, as the ups and downs are normal phenomenon in the stock market.
As the first new energy vehicle maker listed in domestic market, BAIC BJEV has claimed the championship in battery electric vehicle sales for five straight years with a compound growth rate of 170%. The automaker has a global R&D network, covering six countries and has improved the ability for complete vehicle system development. Up to now, BAIC BJEV has launched 6 series with over 10 products.
Via the cooperation and collaborative innovation with its partners, the electric vehicle unit of BAIC Group has established its own business ecosystem and launched alliance in autonomous driving, intelligent and connected vehicle, big data and lightweight material.
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