2连板九鼎投资：管理报酬通常主要在投资后若干年内陆续实现 从而导致公司的业绩出现大幅波动

Core Viewpoint - Jiuding Investment (600053.SH) experienced significant stock price fluctuations, with a cumulative increase of over 20% in two consecutive trading days, indicating abnormal trading activity [1] Company Summary - Jiuding Investment's private equity investment management business generates revenue primarily from two sources: management fees and management compensation [1] - Management fees are typically charged as a percentage of the fund size, while management compensation is recognized when the projects invested by the managed funds realize investment returns [1] - Management compensation is the main source of profit for private equity investment management firms, but it is usually realized over several years post-investment, leading to substantial fluctuations in the company's performance across different years [1] - These performance fluctuations can significantly impact the company's operating results in subsequent years [1]