Core Viewpoint - In early 2026, a significant number of A-share companies have announced stock suspension for investigation due to trading volatility, indicating a regulatory push for rational investment and a pause on speculative trading [1][3][9]. Group 1: Companies Under Investigation - Seven A-share companies have announced stock suspension for investigation in 2026, including Guosheng Technology, Jiamei Packaging, Yidian Tianxia, Zhizhi New Materials, *ST Chengchang, Liou Co., and Fenglong Co. [1][3] - The reasons for the trading volatility in these companies are linked to market speculation on hot concepts such as commercial aerospace and AI applications [1][4]. Group 2: Performance and Financials - *ST Chengchang, a commercial aerospace concept stock, experienced a 68.64% increase over 11 trading days before announcing a stock suspension [3]. - Zhizhi New Materials became the first stock to double in 2026, with a price increase of 198.57% before its suspension [4]. - Liou Co. reported a 96.77% increase in stock price over 10 trading days before its suspension [4]. - Guosheng Technology has been in a loss position since 2020, with a projected net profit loss for 2025 [6][7]. - Jiamei Packaging is expected to see a 53.38% decline in net profit for 2025, attributed to a "small year" in the beverage industry [8]. Group 3: Market Reactions and Regulatory Implications - The stock suspension allows investors a "cooling-off period" to reassess company fundamentals and valuation [9]. - Companies like Shangwei New Materials and Aerospace Hanyu have issued warnings about potential stock suspensions if prices continue to rise [10][11]. - Several companies have clarified their lack of involvement in the commercial aerospace sector despite market speculation [12].

Group 1 - The Shanghai Stock Exchange has monitored stocks with significant volatility, including *ST Zhengping, *ST Yazhen, Guosheng Technology, Aerospace Power, Tianpu Co., and Shuangwei New Materials, from January 12 to January 16 [1] - *ST Zhengping experienced a cumulative decline of 14.24% over three consecutive trading days from January 12 to January 14, followed by a near limit-up on January 15 and a drop of 4.92% on January 16 [1] - *ST Yazhen saw a cumulative increase of 43.74% from December 17, 2025, to January 8, 2026, with limit-up performances on January 12 and January 16 [1] - Guosheng Technology's stock price deviated significantly, with a cumulative increase exceeding 20% over three consecutive trading days from January 12 to January 14, followed by two consecutive limit-downs [1] - Tianpu Co. faced consecutive limit-downs on January 12 and 13, a limit-down at the opening on January 14, and a limit-up at closing, followed by a limit-down on January 15 [1] Group 2 - Shuangwei New Materials has shown significant cumulative increases since July 2025, with multiple instances of abnormal volatility [2] - The Shenzhen Stock Exchange announced a trading suspension for some investors of *ST Chengchang due to severe abnormal stock price fluctuations, with a resumption of trading on January 16 after a halt for investigation [4] - *ST Chengchang's stock price has increased approximately 190.89% since December 1, 2025 [5] - From January 12 to January 16, the Shenzhen Stock Exchange took self-regulatory measures against 387 instances of abnormal trading behavior, including market manipulation and false declarations [5]

Core Viewpoint - The Shanghai Stock Exchange has implemented monitoring measures for stocks with significant price fluctuations, indicating heightened trading risks for investors [1][2][4]. Group 1: Stock Monitoring and Performance - Stocks under monitoring include *ST Zhengping, *ST Yazhen, Guosheng Technology, Aerospace Power, Tianpu Co., and Shangwei New Materials due to their volatile trading patterns [1]. - *ST Zhengping experienced a cumulative decline of 14.24% over three consecutive trading days from January 12 to January 14, followed by a near limit-up on January 15 and a 4.92% drop on January 16 [1]. - *ST Yazhen saw a cumulative increase of 43.74% from December 17, 2025, to January 8, 2026, with limit-up performances on January 12 and January 16 [1]. - Guosheng Technology's stock price deviated significantly, with a cumulative increase exceeding 20% over three days from January 12 to January 14, followed by two consecutive limit-downs [1]. - Tianpu Co. faced consecutive limit-downs on January 12 and 13, a limit-down opening on January 14, and a limit-up closing on the same day, followed by a limit-down on January 15 [1]. - Shangwei New Materials has shown significant price increases since July 2025, with multiple instances of abnormal fluctuations [2]. Group 2: Regulatory Actions - The Shanghai Stock Exchange has taken self-regulatory measures against 365 instances of abnormal trading behaviors, including price manipulation and false declarations, and has conducted special investigations into 20 major corporate events [3]. - The Shenzhen Stock Exchange announced a trading suspension for certain investors of *ST Chengchang due to severe abnormal price fluctuations, with the stock experiencing a 190.89% increase since December 1, 2025 [4][5]. - From January 12 to January 16, the Shenzhen Stock Exchange addressed 387 instances of abnormal trading behaviors and conducted investigations into 15 major corporate events, reporting five suspected illegal activities to the regulatory authority [5].

Core Viewpoint - The stock price of Guosheng Technology (603778.SZ) has experienced significant volatility, leading to regulatory intervention that restricts trading on certain accounts due to abnormal trading behaviors [1][5]. Group 1: Stock Performance and Regulatory Actions - On January 14, the Shanghai Stock Exchange announced measures against abnormal trading activities related to Guosheng Technology, which has seen its stock price fluctuate dramatically [1][5]. - Following the announcement, Guosheng Technology's stock hit the daily limit down on January 15, with a total sell-off amounting to 616 million yuan [4]. - The stock price surged nearly 7 times from 3.50 yuan to 27.72 yuan between October 14, 2025, and January 14, 2026, indicating a significant deviation from its fundamental value [4][5]. Group 2: Acquisition and Financial Performance - The recent stock price increase is attributed to two major acquisitions aimed at expanding into the battery storage sector, with a total investment of approximately 4.71 billion yuan [3][7]. - Guosheng Technology's financial history shows persistent losses, with revenues of 2.58 billion yuan in 2020 and a net loss of 800 million yuan, despite a revenue spike to 20.94 billion yuan in 2024 [7][8]. - The acquisition of Fuyue Technology, which was announced at a premium of over 11 times its net asset value, raises concerns about the sustainability of its profitability [10][11][12]. Group 3: Risks and Uncertainties - The acquisition's financing is uncertain, as the company relies on loans that are still pending approval, which could affect the completion of the deal [8][9]. - The high premium paid for Fuyue Technology, which was only established in June 2024, raises questions about its long-term profitability and the potential for goodwill impairment [12][13]. - The strategic shift towards energy storage presents both opportunities and risks, as the company navigates a competitive and evolving market landscape [14].

Group 1 - The stock price of Guosheng Technology (603778) has experienced significant fluctuations, leading to regulatory intervention that restricts trading on certain accounts [1][4] - On January 15, Guosheng Technology's stock hit the daily limit down after a nearly 7-fold increase in price from October 14, 2025, to January 14, 2026 [2][3] - The surge in stock price is attributed to two major acquisitions aimed at entering the battery storage sector, with concerns raised about the high premium paid for these assets [2][8] Group 2 - The company announced a plan to acquire 100% of Fuyue Technology for 241 million yuan, which has raised questions about its sustainable profitability [6][11] - Guosheng Technology has faced continuous losses over the years, with revenues and net profits showing a declining trend despite a significant revenue increase in 2024 [6][7] - The acquisition of Fuyue Technology involves a high premium of over 11 times its net asset value, raising concerns about the potential for goodwill impairment [10][9] Group 3 - The company is relying on loans to finance the acquisitions, with the approval process for these loans still pending, adding uncertainty to the completion of the transactions [7][12] - The strategic shift towards battery storage and renewable energy is seen as a gamble, with the success of this new direction remaining uncertain [12]

智通财经见习记者 | 蒋习 智通财经记者 | 张慧 不断跨界的国晟科技(603778.SH)，遭遇开年首个跌停。 截至1月15日收盘，国晟科技以9.99%的幅度跌停，股价报24.95元，市值为163.83亿元。 2025年10月31日-2026年1月14日期间，该公司股票6次触及股价异常波动、1次触及严重异常波动情形，期间累计涨幅高达511.92%。 国晟科技表示，公司股价累计涨幅偏离基本面，存在市场情绪过热、非理性炒作风险，存在股价短期快速回落风险。 国晟科技目前市净率为22.75显著高于行业平均水平，股价存在明显泡沫化特征。其所属电气机械和器材制造业最新市净率为3.26。 国晟科技原名乾景园林，原主营园林景观业务，后通过并购转型至光伏组件、电站运营等新能源领域。 该公司近三个月股价大涨，主要趁上了固态电池概念。 2025年10月14日，国晟科技披露对外投资公告，宣布为把握固态电池产业增长机遇，其二级控股子公司安拟向铁岭环球新能源有限公司（下称铁岭环球）增 资2.3亿元并持股51.11%，用于建设"年产10 GWh固态电池产业链AI智能制造项目"。 10月15-16日，国晟科技收获两个涨停，之后一路震荡上涨 ...

Market Overview - The infrastructure sector declined by 0.77% on January 15, with Guosheng Technology leading the drop [1] - The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index closed at 14306.73, up 0.41% [1] Key Performers in Infrastructure Sector - Wenkai Co., Ltd. (002775) saw a significant increase of 10.09%, closing at 4.80 with a trading volume of 339,200 shares and a turnover of 161 million yuan [1] - Huylv Ecological (001267) increased by 5.71%, closing at 24.61 with a trading volume of 602,800 shares and a turnover of 1.45 billion yuan [1] - ST Zhengping (603843) rose by 4.45%, closing at 6.10 with a trading volume of 493,000 shares and a turnover of 29.2 million yuan [1] Decliners in Infrastructure Sector - Guosheng Technology (603778) experienced a sharp decline of 9.99%, closing at 24.95 with a trading volume of 554,600 shares and a turnover of 1.412 billion yuan [2] - Dongzhu Ecological (603359) fell by 4.86%, closing at 7.44 with a trading volume of 394,600 shares and a turnover of 297 million yuan [2] - China Nuclear Engineering (601611) decreased by 3.11%, closing at 17.47 with a trading volume of 1,736,600 shares and a turnover of 3.009 billion yuan [2] Capital Flow Analysis - The infrastructure sector saw a net outflow of 670 million yuan from institutional investors, while retail investors had a net inflow of 333 million yuan [2] - Major stocks like Huylv Ecological (001267) had a net inflow of 60.68 million yuan from institutional investors, but a net outflow of 89.65 million yuan from retail investors [3] - Wenkai Co., Ltd. (002775) had a net inflow of 44.84 million yuan from institutional investors, with retail investors also showing a net outflow of 22.46 million yuan [3]

Core Viewpoint - The stock of Guosheng Technology, a prominent A-share market stock, opened with a limit down following a notice from the Shanghai Stock Exchange regarding abnormal trading behaviors affecting normal trading order [1] Group 1: Stock Performance and Trading Behavior - Guosheng Technology's stock price has experienced significant volatility, with the Shanghai Stock Exchange implementing self-regulatory measures such as account trading suspensions for certain investors [1] - The stock price surged dramatically, with a cumulative increase of 674.3% from October 15, 2025, to January 14, 2026, despite the company applying for a trading suspension on January 6, 2026 [1] - During the period from October 31, 2025, to January 6, 2026, the stock hit abnormal trading thresholds five times and severe abnormal trading once, with a total increase of 370.20% [1] Group 2: Business Developments and Strategic Moves - Guosheng Technology's recent investment announcement involved a capital increase of 230 million yuan in its subsidiary, aiming to capture growth opportunities in the solid-state battery industry [1] - The subsidiary, Tieling Global New Energy Co., Ltd., is set to develop a project for an annual production capacity of 10 GWh of solid-state batteries, indicating a strategic pivot towards advanced energy solutions [1] - The surge in stock price is attributed to the market's enthusiasm for the solid-state battery sector, which is viewed as a frontier in new energy technology [1]

1月15日，A股早盘冲高回落，截至午间收盘，沪指跌0.6%，深成指跌0.44%，创业板指跌1.02%。全市场半日成交额1.89万亿，较上个交易日缩量3507 亿，超3600只个股下跌。 热门个股方面，6倍大牛股国晟科技（603778）跌停。A股市场近期最受关注的"明星股"国晟科技今日开盘迅速跌停，股价报24.95元/股。 消息面上，昨日晚间，上交所发布《关于国晟科技相关情况的通报》称，近日，国晟科技股价继续大幅波动，部分投资者在交易该股过程中存在影响股票 交易正常秩序的异常交易行为，上交所依规对相关投资者采取了暂停账户交易等自律监管措施。通报同时重申，国晟科技近期多次出现异常波动情形，公 司已多次发布风险提示公告，提请广大投资者审慎投资，注意投资风险。上交所再次提醒投资者关注风险，审慎参与，合规交易。（详见） 热门板块方面，商业航天概念连续3天出现回调，中科星图跌超18%，金风科技（002202）、通宇通讯（002792）、巨力索具（002342）、中国一重 （601106）、雷科防务（002413）、海格通信（002465）、神剑股份（002361）、航天电子（600879）等多股10CM跌停。 贵金属概念 ...

1月15日，A股市场近期最受关注的"明星股"国晟科技（603778.SH）开盘即跌停，截至10时26分，股价 报24.95元/股。 消息面上，昨日晚间，上交所发布《关于国晟科技相关情况的通报》称，近日，国晟科技股价继续大幅 波动，部分投资者在交易该股过程中存在影响股票交易正常秩序的异常交易行为，上交所依规对相关投 资者采取了暂停账户交易等自律监管措施。 尽管该项目实施主体铁岭环球彼时注册资本尚未实缴。但在固态电池这一新能源前沿概念的催化下，国 晟科技股价开启疯狂上涨模式。2025年10月31日至2026年1月6日期间，国晟科技股票5次触及股价异常 波动、1次触及严重异常波动，累计涨幅高达370.20%。 2026年1月6日，国晟科技申请停牌核查，但1月12日复牌后仍强势涨停，截至1月14日收盘，股价报 27.72元/股，自2025年10月15日起累计涨幅接674.3%。 与股价飙涨形成强烈反差的是，国晟科技的基本面并不乐观。财务数据显示，公司2025年前三季度归属 于上市公司股东的净利润为-1.51亿元，扣非后净利润为-1.52亿元，2025年全年业绩预告仍显示将继续 亏损。固估值方面，当前，国晟科技所属电气 ...