Cambricon(SH:688256) Hua Er Jie Jian Wen·2025-08-28 12:11Core Viewpoint - Cambricon has issued a stock trading risk warning, revealing several concerning pieces of information for investors, including a significant stock price surge and extreme valuation metrics [1][2] Group 1: Stock Performance and Valuation - Cambricon's stock price surged by 133.86% from approximately 679 yuan to 1587.91 yuan between July 28 and August 28, 2025, significantly outperforming major market indices [2] - The company's rolling price-to-earnings (P/E) ratio reached an astonishing 5117.75, far exceeding the industry average of 88.97, indicating a severe deviation from fundamental values [2] - The price-to-book (P/B) ratio for Cambricon stood at 113.98, again well above the industry average of 5.95, reflecting excessive market speculation on AI chip concepts [2] Group 2: Management Guidance and Product Development - Management forecasts that the company's revenue for 2025 will be between 50 billion and 70 billion yuan, but emphasizes that this is a preliminary estimate and not a firm commitment to investors [1][2] - The company has stated that there are currently no plans for new product releases and has clarified that recent rumors about new products are false, which may negatively impact market expectations [1][2] Group 3: Risks and Market Sentiment - The extreme valuation levels present a significant risk of correction, with the company's fundamentals being severely disconnected from its stock performance [1][2] - Ongoing U.S. sanctions and the potential for rational market corrections regarding AI hype could further affect the stability of the company's business [1]