SUNSTONE(SH:603612) Jin Rong Jie·2025-07-18 02:57Core Viewpoint - The company has experienced significant growth since its listing, but its financial performance has shown considerable volatility in recent years [1][3]. Group 1: Company Overview - The company was listed on July 18, 2017, with an initial closing price of 11.35 yuan and a market capitalization of 2.732 billion yuan, which has now grown to 9.454 billion yuan [1]. - The main business includes the research, production, and sales of prebaked anodes, with prebaked anodes accounting for 89.37% of revenue [3]. Group 2: Financial Performance - The company achieved a net profit attributable to shareholders of 548 million yuan in 2017, which decreased to 272 million yuan by the end of the latest complete fiscal year in 2024, reflecting a cumulative profit decline of 50.27% [3]. - Over the past eight years, the company has recorded one year of losses, with net profit growth occurring in five years, representing 62.5% of the time [3]. - Revenue increased from 5.851 billion yuan in 2020 to 13.750 billion yuan in 2024, but there has been a decline in revenue for two consecutive years following a peak in 2022 [3]. - The net profit rose from 214 million yuan in 2020 to 272 million yuan in 2024, after experiencing significant growth in 2021 and 2022, followed by a substantial loss in 2023 [3]. Group 3: Market Capitalization - Since its listing, the company's market capitalization has increased by 2.46 times, indicating a degree of growth [5]. - The peak market capitalization reached 23.043 billion yuan on July 18, 2022, with the stock price rising to 50.1 yuan, but as of July 17, the market capitalization has decreased to 9.454 billion yuan, representing a loss of 13.589 billion yuan or 58.97% from its peak [5].