1. Macroeconomic environment: 1994 At that time, China was in the economic transition period, the domestic economic situation was unstable, the overall performance of the stock market was poor, and Changhong's share price was also affected.
2. Internal problems of the company: Changhong Company experienced some internal problems such as management changes and performance decline around 1994, which may cause investors to worry about the company's prospects, thus affecting the stock price.
3. Industry Competition: The fierce competition in Changhong's electronics industry and the challenge to its market share may also lead to a decline in its share price.