Shang Hai Zheng Quan Bao·2025-08-13 18:47Core Viewpoint - The company has experienced significant stock price fluctuations, with A-shares rising 121.56% since July 1, 2025, which is substantially higher than the industry and market indices, indicating potential irrational market behavior [1][3]. Group 1: Stock Price Fluctuations - The company's A-share stock price has seen a cumulative increase of 121.56% from July 1, 2025, while the industry index rose by 14.16% and the Shanghai Composite Index by 6.95% during the same period [1]. - The A-share stock has hit the daily limit up for three consecutive trading days as of August 13, 2025, and has closed at the limit price for nine trading days since July [1]. Group 2: Lack of Major Corporate Events - The company and its controlling shareholders have confirmed that there are no significant asset restructurings or injections currently affecting the company, and the fundamental business has not changed significantly [2][13]. Group 3: Valuation Concerns - The latest rolling price-to-earnings (P/E) ratio for the company’s A-shares is 487.76 times, which is significantly higher than the industry average P/E ratio of 37.47 times, indicating a risk of overvaluation [3]. Group 4: High Turnover Rate - The turnover rate for the company's A-shares was 22.71% on August 13, 2025, with an average turnover rate of 21.76% from August 11 to August 13, 2025, compared to a year-to-date average of 7.20%, suggesting increased trading activity [4].