BENEFO(SH:600468) Shang Hai Zheng Quan Bao·2025-06-03 18:35Core Viewpoint - The stock of Tianjin Baile Electric Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase of 20% over two consecutive trading days, prompting a disclosure to investors regarding the situation and the company's operational status [2][4]. Group 1: Stock Trading Abnormalities - The company's stock price increased by a cumulative 20% on May 30 and June 3, 2025, which is classified as an abnormal trading fluctuation according to the Shanghai Stock Exchange regulations [2][4]. - The company conducted a self-examination and confirmed that there are no undisclosed significant information or major events that could affect the stock price [5][6]. Group 2: Business Operations and Financial Performance - The company reported that its production and operations are normal, with no significant changes in the internal and external business environment [5]. - The company’s 2024 annual report indicated a net loss attributable to shareholders of approximately 109.44 million yuan, a year-on-year decrease of 192.13% [3]. - The first quarter of 2025 showed a net profit of approximately 31.98 million yuan, a year-on-year decrease of 8.05% [3]. Group 3: Market Concepts and Revenue Impact - The company acknowledged the "controlled nuclear fusion" concept but clarified that its subsidiary, Liaoning Rongxin Xingye Electric Power Technology Co., Ltd., only participates in the design and manufacturing of specific equipment for the ITER project, contributing less than 1% to the overall revenue in 2024 [2][7]. - The subsidiary's main products are high-voltage dynamic reactive power compensation devices, which are not expected to significantly impact the company's overall performance [7]. Group 4: Financial Ratios - As of May 30, 2025, the company's price-to-earnings (P/E) ratio was -67.93, significantly higher than the industry average of 25.61, indicating a negative earnings situation [3]. - The company's price-to-book (P/B) ratio was 3.89, compared to the industry average of 2.44, suggesting a higher valuation relative to its book value [3].