New York, June 8, 2026, 19:02 (EDT)
- Mingteng International finished the session at $1.94, jumping 81.3%. Shares traded between $1.05 and $5.34 as volume spiked.
- The company said it ended an at-the-market stock sale plan after raising roughly $20.6 million in gross proceeds from the share sales.
- The move outpaced gains in other U.S.-listed China auto stocks.
Mingteng International Corporation Inc. (Nasdaq) soared 81.3% Monday. The China automotive mold supplier announced after the jump that it ended its at-the-market share sale program, pulling in about $20.6 million in gross proceeds. An at-the-market, or ATM, program gives companies a way to sell stock gradually instead of all at once.
Mingteng said in a filing the sales pact with AC Sunshine Securities ended June 8, after it sold 222,568,877 Class A ordinary shares under its ATM program. That number doesn’t account for the 1-for-200 reverse split in January. The company reported net proceeds were around $18.0 million.
MTEN is a microcap, with a market cap of just a few million dollars, so thin trading, float changes or new stock can send the price moving fast. On Monday, shares changed hands 24.2 million times. That’s against a market value of roughly $12.0 million, according to the latest quote feed.
Tech and chip stocks bounced back Monday, sending the Nasdaq Composite up 0.86%. The S&P 500 was also up, gaining 0.30%, according to Reuters. The move in the Nasdaq was bigger than the broader rally.
Mingteng’s rally was sharp compared with other U.S.-listed Chinese auto and tech stocks. Shares of China Automotive Systems were up 1.1%, Kandi Technologies added 4.8%, and Hesai Group gained 3.5%. Those moves looked minor next to MTEN’s one-day jump.
Mingteng makes molds for auto parts, such as casting molds for turbochargers, braking, steering, and differential systems. The company also produces products for new-energy EV systems. Its plants are in Wuxi, China.
The company has reworked its share structure this year. Back in January, it did a 1-for-200 reverse stock split, merging every 200 shares into one. The ticker MTEN stayed on the Nasdaq Capital Market. Low-priced stocks often use reverse splits to boost share price, but it doesn’t affect the company’s total value.
Mingteng said in January it finished moving to a new production site and aimed to boost mold output capacity by 50%. Chairman and CEO Yingkai Xu described the move as a “key milestone” for the firm’s medium- and long-term plans.
Mingteng posted a 15.3% jump in 2025 revenue to $11.7 million, helped by mold production and machining, but still reported a net loss of $1.8 million. Gross margin dropped to 22.5% from 30.3% last year as material, labor and manufacturing costs climbed. The overall picture remains mixed.
Stock action could be getting ahead of the actual business. Monday saw a big swing. The company is still small. Its latest filing pointed to past share sales, not fresh orders, not a new bump to earnings. Mingteng has a tight customer base: two buyers made up about 22.1% and 18.4% of 2025 revenue, according to its annual report.
