Xiyun Technology Plunges on Customs Rumor
Cloud-computing and hardware provider Xiyun Technology experienced a sharp downturn in its stock valuation during late trading, plunging 9.04% to close at 34.92 yuan per share following an unverified market rumor regarding customs detentions, according to reports from Sina Finance. The sudden market reaction on August 11 prompted the company to issue an immediate public clarification and initiate formal legal complaints.
Panic Selling Driven by Supply Chain Anxieties
The market turbulence began when online speculation claimed that high-performance computing cards procured overseas by Xiyun Technology had been held up or detained at customs borders.
Categorical Denial From Management
In response to the circulating claims, Xiyun Technology released an official statement on the evening of August 11, categorically denying any disruptions to its import operations.
The company stated that since the inception of its computing power business, all overseas procurement and import customs clearance procedures for hardware equipment and components have strictly complied with the Customs Law of the People’s Republic of China and related regulatory frameworks. Management emphasized that operational workflows remain fully compliant with complete documentation, and no computing equipment or related commodities have ever been detained, delayed, or blocked from clearance by customs authorities.
Stable Shipments and Multi-Billion Yuan Backlog
Furthermore, the firm confirmed that all current overseas procurement shipments are clearing customs and arriving on schedule, maintaining a stable and orderly supply chain. All commercial partners involved are characterized as high-quality, top-tier enterprises, and active contracts are proceeding according to agreed-upon schedules without any negative impacts stemming from the rumors.
Legal Action and Investigation Underway
Addressing the origin of the rumors, management announced that the organization has launched an information tracing investigation and formally reported the matter to public security authorities. Xiyun Technology stated it intends to pursue legal liability against the parties responsible for fabricating and maliciously spreading the false claims, aiming to protect the legal rights of the corporation and its investors. At the same time, the company reminded stakeholders that large-scale computing power orders remain subject to potential delivery adjustments due to external variables, including the supply pacing of advanced hardware, cross-border logistics clearance, and server room deployment or maintenance.
Revenue Recognition and Historic Market Gains
Financial reporting highlights that Xiyun Technology recognizes its computing power revenue upon monthly delivery and customer acceptance, meaning financial performance release rhythms can fluctuate depending on client inspection workflows and equipment activation progress. Widely tracked by market analysts as a prominent token-linked equities pioneer, the company has seen substantial upward momentum over the year, registering a maximum surge exceeding 637% prior to the session that saw its historical intraday peak.
Keep reading