Beijing, China, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Pheton Holdings Ltd (NASDAQ: PTHL) (the “Company”), a healthcare solution provider specializing in treatment planning systems for brachytherapy and other related products and services, today announced, on October 20, 2025, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that based on the closing bid price of the Class A ordinary shares of the Company for the last 30 cons ...

Group 1 - A significant drop in stock prices of several Chinese micro-cap stocks listed in the US has resulted in investors losing billions of dollars, raising concerns about a potential "pump and dump" scheme [1] - Seven specific stocks, including Concorde International (CIGL.US) and Austin Technology (OST.US), have seen declines exceeding 80% in recent trading days, leading to a total market value loss of $3.7 billion [1] - Prior to the sharp declines, these stocks had experienced substantial increases and were promoted on social media platforms like WhatsApp [1] Group 2 - Brain Regen Technologies (RGC.US) has seen its stock price increase nearly 10,000% this year, with no current evidence linking the company to stock price fluctuations [2] - The FBI reported a 300% increase in complaints related to "pump and dump" stock fraud over the past year, indicating a rise in investor victimization [2] - Fraud groups are reportedly using social media ads and "investment club" promotions to lure investors, sometimes impersonating legitimate brokerage firms or well-known stock analysts [2]

Group 1 - The top five gaining Chinese concept stocks at the close were Lichen International, ATA Creativity Global, Huami Technology, Puhua Biotechnology, and Feitian Zhaoye, with respective gains of 48.81%, 36.11%, 34%, 24.45%, and 23.46% [1] - Lichen International's latest price was 5.610, with a gain of 1.840 and a trading volume of 14.39 million [1] - ATA Creativity Global's latest price was 1.470, with a gain of 0.390 and a trading volume of 7.29 million [1] Group 2 - Huami Technology's latest price was 17.420, with a gain of 4.420 and a trading volume of 22.89 million [1] - Puhua Biotechnology's latest price was 0.8199, with a gain of 0.1611 and a trading volume of 1.36 million [1] - Feitian Zhaoye's latest price was 1.0000, with a gain of 0.1900 and a trading volume of 16.93 million [1]

Core Viewpoint - Pheton Holdings Ltd has issued a statement addressing recent market volatility and a speculative article that has negatively impacted its share price, denying any involvement in stock price manipulation or acquisition rumors [2][3]. Company Response - The management team of Pheton categorically denies any knowledge or participation in rumors regarding an acquisition by Gilead Sciences, asserting that such claims are false [3]. - Pheton plans to engage with market makers, Nasdaq, and regulatory bodies to hold responsible parties accountable for the misinformation [4]. Shareholder Protection - The company acknowledges the concerns raised among investors and is enhancing internal controls and communications to counter misinformation effectively [5]. Commitment to Governance - Pheton emphasizes its commitment to corporate governance, transparency, and accountability, focusing on long-term shareholder value through strategic growth opportunities [6]. Business Foundation - Pheton is built on trust, innovation, and value creation, expressing confidence in its underlying business strength and long-term strategy [7]. Communication with Shareholders - The company values shareholder trust and commits to providing accurate and timely disclosures to the investor community [8]. Company Overview - Founded in 1998, Pheton Holdings Ltd specializes in healthcare solutions for brachytherapy, with its lead product being a Treatment Planning System that enhances the safety and effectiveness of cancer treatment [9].

Group 1 - The top five Chinese concept stocks that experienced the largest declines in closing prices are: SOS Ltd down 54.5%, Feitian Zhaoye down 33.33%, Shangao Life Sciences down 22.93%, Youlan International down 16.88%, and Luda Technology down 14% [1][1][1] - SOS Ltd's latest price is 2.730 with a decrease of 3.270, resulting in a trading volume of 4.4103 million [1][1][1] - Feitian Zhaoye's latest price is 1.100 with a decrease of 0.550, resulting in a trading volume of 16.9591 million [1][1][1] - Shangao Life Sciences' latest price is 0.1684 with a decrease of 0.0501, resulting in a trading volume of 1.2677 million [1][1][1] - Youlan International's latest price is 1.920 with a decrease of 0.390, resulting in a trading volume of 0.4144 million [1][1][1] - Luda Technology's latest price is 4.300 with a decrease of 0.700, resulting in a trading volume of 0.3086 million [1][1][1]

Core Viewpoint - Chinese concept stocks experienced significant declines, with the top five losers showing drastic percentage drops in their stock prices [1] Group 1: Stock Performance - Feitian Zhaoye (PTHL) saw a decline of 94.67%, closing at 1.650, with a drop of 29.310 million [1] - Hongli Yingzao (WLGS) fell by 37.00%, ending at 0.0533, with a decrease of 0.0313 million [1] - American Green Star (PLAG) decreased by 26.83%, closing at 1.500, down by 0.550 million [1] - Pitanium (PTNM) dropped by 25.42%, with a closing price of 1.320, down by 0.450 million [1] - Yanke Technology (RCON) experienced a decline of 23.45%, closing at 2.260, with a drop of 0.693 billion [1]