KINGFA(SH:600143) Di Yi Cai Jing·2025-09-22 09:20Core Viewpoint - The recent fluctuations in the stock price of Jinfat Technology are linked to its indirect stake in Yushu Technology, which is preparing for an IPO, leading to significant market speculation and volatility [1][4]. Group 1: Stock Performance and Valuation - On September 22, Jinfat Technology's stock opened with a drop exceeding 8% and closed down 2.91% at 21.04 CNY per share [2]. - As of September 17, Jinfat Technology's static P/E ratio was 69.99, and its rolling P/E ratio was 56.02, significantly higher than the industry averages of 27.36 and 28.42, respectively [4]. - The stock has seen a dramatic increase of nearly 150% over three months, driven by market speculation around artificial intelligence and robotics sectors [4]. Group 2: Shareholder Actions - Major shareholder Xiong Haitao plans to reduce his stake by up to 26.37 million shares, representing 1% of the total share capital, for personal asset planning needs, potentially raising around 5.5 million CNY [2]. - Prior to the planned reduction, Xiong held 43.24 million shares, accounting for 1.64% of the company, with total holdings including concerted actions amounting to 7.20% [2]. Group 3: Company Operations and Financials - Jinfat Technology reported a revenue of 31.64 billion CNY for the first half of 2025, marking a year-on-year growth of 35.50%, and a net profit of 585 million CNY, up 54.12% [5]. - The company is focusing on high-end product upgrades and expanding applications in automotive, electronics, and new energy sectors, indicating a positive outlook for its modified plastics products [5]. Group 4: Market Sentiment and Future Outlook - The market's interest in Yushu Technology has led to increased speculation, with Jinfat Technology acknowledging the high volatility in its stock price and advising investors to make rational decisions [3][4]. - The potential listing of Yushu Technology may not significantly impact Jinfat Technology's earnings, as the contributions from robotics-related businesses remain uncertain [4].