Xinxing Electronics Raided by Prosecutors, Two Vice Presidents and Accountant Taken in for Questioning

ABF substrate manufacturer Xinxing Electronics (3037) was raided by prosecutors on October 28. The Taoyuan District Prosecutors Office confirmed the raid, taking in two vice presidents and one accountant for questioning, and seizing four laptops. The details of the case are still pending further explanation from the prosecutors. The timing of the news release attracted significant market attention. Xinxing Electronics' stock price hit a record high of 1,230 yuan in the morning but then faced sudden selling pressure, dropping to a low of 1,070 yuan, and closed at 1,110 yuan, down 5.93%, with a daily high-low difference of 160 yuan. Xinxing Electronics is a global leader in PCB and IC substrates, alongside NanDa (8046) and Jingxiu (3189), collectively known as the 'ABF substrate trio.' Recently, driven by demand for AI servers and high-end ABF substrates, the company's stock price has surged, with foreign investors buying more than 5.6 million shares in 14 consecutive trading days. In the morning, the stock price once surged to a record high of 1,230 yuan, up 50 yuan from the previous day's close of 1,180 yuan. However, selling pressure suddenly emerged, turning the stock price from red to black, with the lowest point dropping to 1,070 yuan. The closing price was 1,110 yuan, down 70 yuan, or 5.93%, with a trading volume of about 2.7 million shares. That is to say, Xinxing Electronics' stock price dropped from a high of 1,230 yuan in the morning to a low of 1,070 yuan, with a daily high-low difference of 160 yuan and an amplitude of 13.6%. In the situation where the stock price just hit a record high and the news of the prosecutor's raid was released after the close, whether the incident will further affect the company's operations and market confidence will become the focus of investors' attention. Xinxing Electronics is a global leader in PCB and IC substrates, alongside NanDa (8046) and Jingxiu (3189), collectively known as the 'ABF substrate trio.' Recently, driven by demand for AI servers and high-end ABF substrates, the company's stock price has surged, with foreign investors buying more than 5.6 million shares in 14 consecutive trading days.