山东墨龙摘帽后A+H股价暴涨背后风险不容忽视

Core Viewpoint - Shandong Molong's stock has experienced significant volatility, with a recent surge following the removal of risk warnings and its re-inclusion in the Hong Kong Stock Connect, despite ongoing fundamental concerns regarding its financial performance and profitability [2][3][7]. Group 1: Stock Performance and Market Reaction - Shandong Molong's A-shares have hit the daily limit up for three consecutive days since May 6, with H-shares experiencing a peak increase of nearly 450% [2][3]. - The stock was removed from risk warnings on May 6, leading to a substantial rise in both A-shares and H-shares, with H-shares seeing a daily increase of approximately 188% [2][3]. - The stock's volatility has attracted a significant influx of short-term investors and speculative funds, resulting in a high turnover rate of 125% on May 6 [6]. Group 2: Financial Performance and Forecasts - For 2024, Shandong Molong is projected to have a total revenue of 1.356 billion yuan, a slight increase of 2.95%, but still reporting a net loss of approximately 43.7 million yuan [7]. - The first quarter of 2025 showed a revenue of 291 million yuan, a year-on-year increase of 50.51%, but the net profit dropped by 97.50% [7]. - The company has faced regulatory scrutiny due to inaccurate disclosures regarding its 2024 earnings forecast, which was revised from an expected profit to a confirmed loss [8][9]. Group 3: Corporate Actions and Market Speculation - The stock price surge has been partly fueled by rumors of a potential reverse merger with Shandong Luli Group, which is speculated to involve a 7.5 billion yuan deal [10][11]. - The company has been actively disposing of loss-making subsidiaries to temporarily improve its financial statements, but this does not address the underlying issues of its core business profitability [9].