杭电股份：击鼓传花效应明显 存在短期大幅下跌的风险

Core Viewpoint - The stock of Hangzhou Cable Co., Ltd. has experienced significant price fluctuations, with a cumulative increase of 77.25% over six consecutive trading days, indicating abnormal trading activity [2]. Summary by Relevant Sections Stock Performance - The stock price of Hangzhou Cable has deviated by more than 20% over two consecutive trading days on September 22 and 23, 2025 [2]. - From September 16 to September 23, the stock has closed at the daily limit price for six consecutive days, with a total price increase of 77.25%, which is significantly higher than that of peer companies in the industry [2]. - The trading volume has been notably high on September 18, 22, and 23, with turnover rates of 21.24%, 25.03%, and 29.48% respectively, indicating a "hot potato" effect and substantial trading risks [2]. Company Operations - The primary business of the company includes the research, production, sales, and service of wires and cables, which are essential for transmitting electrical energy, conveying information, and converting electromagnetic energy [2]. - Other business segments of the company are currently operating at a loss [2]. - An internal review confirmed that the company's daily production and operational conditions are normal, with no significant changes in the internal or external operating environment, nor any anticipated major changes [2].