Chinese stocks related to Olympians surge following team China winning gold
Published: Feb 10, 2022 12:20 PM
Gu Ailing Photo: VCG

Gu Ailing Photo: VCG

Multiple Chinese stocks, nicknamed "Gu Ailing concept shares" by Chinese stockholders as the Chinese names of the stocks can relate to Gu, surged following her triumph in the Women's freeski big air final at the Beijing 2022 Winter Olympics on Tuesday. 

For instance, the shares of A Share-listed enterprise Invengo Information Technology, a Chinese provider of RFID technology and solutions, soared to the daily limit of 10 percent on both Tuesday and Wednesday with the stock price closed at 6.84 yuan on Wednesday, up 9.97 percent.
The Chinese name of Invengo is Yuanwanggu, as Chinese netizens have interpreted as "witnessing Gu to win the championship in a far distance," and the shares of the company reached to its highest in nearly six months, Chinese news outlet Jiemian reported. 

Invengo later stated that the company's share price fluctuations were influenced by a combination of market factors, and the company has neither had products related with the Beijing Winter Olympics nor relevant cooperation with Gu, reminding investors to be cautious in chasing rumors and making investment decisions. 

Several other "Gu concept shares" also saw a booming. The stock of Anhui Gujing Group surged 7.51 percent as the name of the company's popular wine product pronounces closely with Gu's name in Chinese, while the share prices of Aoyuan Beauty Valley rose 2.61 percent on Wednesday as the company's name can be interpreted as "Gu, the beautiful girl who achieved her dream in the Olympics," said the Jiemian report. 

The share price of China Mobile also recorded a rise of 5.42 percent on Tuesday and reached the daily limit of 10 percent on Wednesday, as Gu has been the company's 5G ice and snow promotion ambassador. 

Meanwhile, the share price of Chinese solution provider in network application auditing and network information security-Surfilter also surged to 10 percent on Wednesday following the golden medal winning of Chinese short-track speed skater Ren Ziwei in the men's 1,000 meters on Monday evening. The Chinese name of Surfilter-Renzixing was read by some netizens as literally meaning "Ren Ziwei's moving." 

The share price of these stocks including Invengo, China Mobile, and Aoyuan Beauty Valley however dropped on Thursday as of press time with a decrease of 2.78 percent, 2.52 percent, and 1.39 percent respectively, while the stock price of Anhui Gujing Group increased 0.97 percent. 

Global Times