Zhongtong Finance App News, Trust Alliance Information Development Inc. Ltd. Shanghai (300469.SZ) announced that the closing price of the company's stock has deviated from the fluctuation range for three consecutive trading days (June 20, 2024, June 21, 2024, June 24, 2024) with a cumulative increase of more than 30%, which belongs to abnormal stock market volatility.

The announcement stated that the company's main business is smart transportation and smart governance. Currently, the company's performance and revenue are realized by traditional smart governance businesses (archives and food safety), and the revenue of smart transportation business accounts for a low proportion of the company's main business. The company's raised funds will be used for the Beidou Free Flow Construction Project, which is a pilot project for installing Beidou vehicle terminals. Due to the innovative nature of this project, the project promotion is slow, the market expansion is slow, the business model has yet to be accepted by the audience, and as of now, the investment in the project is far lower than expected, and there has been no actual revenue.