BCDC(SH:600376) Shang Hai Zheng Quan Bao·2025-09-11 23:46Core Viewpoint - The stock price of Shoukai Co., Ltd. has surged significantly despite the company being in a continuous loss situation, primarily driven by speculation related to its indirect stake in Yushu Technology's upcoming IPO [1][2][5][7]. Group 1: Company Performance - Shoukai Co., Ltd. operates in the real estate sector, focusing on real estate development, property management, and urban renewal [2]. - In the first half of the year, the company reported a revenue of 18.039 billion yuan, marking a year-on-year increase of 105.19%, while it incurred a net loss of 1.839 billion yuan [2]. - The company has projected losses of 460.9 million yuan, 6.339 billion yuan, and 8.141 billion yuan for the years 2022, 2023, and 2024, respectively [2]. Group 2: Stock Market Activity - On September 11, Shoukai Co., Ltd. saw its stock price reach a closing price of 5.01 yuan, up 7.05%, and a total market capitalization of 12.9 billion yuan, reflecting an 89.77% increase from the closing price of 2.64 yuan on September 2 [1][5]. - The company has issued five announcements regarding stock trading risk and abnormal fluctuations since September [4]. - Analysts suggest that the recent stock price surge may be linked to the company's indirect stake in Yushu Technology, which is perceived as a speculative investment opportunity [5][6]. Group 3: Market Context - The real estate industry in China is undergoing a critical transformation, with policy benefits yet to fully materialize and market recovery expected to take time [4]. - Shoukai Co., Ltd. faces challenges such as the need to increase sales volume, declining construction area, and the necessity to enhance the profitability of its held properties [4].