SENSTEED(SZ:000981) Xin Lang Cai Jing·2025-09-24 02:12Core Viewpoint - The stock of Shanzi Gaoke (sz000981) hit the daily limit down, closing at 3.82 yuan, with a decline of 9.43%, reflecting significant market concerns regarding the company's financial health and operational challenges [1][2]. Group 1: Company Financial Performance - The company has been facing persistent operational issues, with a non-recurring net loss ranging from 252 million to 327 million yuan, and negative operating cash flow, which severely impacts its actual profitability and market confidence [2]. - Despite achieving accounting profitability through debt restructuring and asset disposal, the main business continues to incur losses, indicating underlying financial instability [2]. Group 2: Market Environment and Risks - The company has a high goodwill on its balance sheet, which poses a risk of impairment, potentially exposing asset quality issues [2]. - Non-operating fund transactions amount to 3.797 billion yuan, along with the mortgaging of subsidiary assets, raising concerns among investors about the company's future development [2]. Group 3: Market Sentiment and Technical Factors - The recent addition of the "annual strong concept" on September 23, 2025, has not generated sustained market interest, and the competitive nature of the industry may hinder the company's ability to leverage new concepts for stock price support [2]. - Institutional investors showed a negative outlook, as indicated by net selling on the trading leaderboard, contributing to downward pressure on the stock price [2]. - Technical analysis suggests that failure to break through key resistance levels after prior price increases may lead to further sell-offs by investors, exacerbating the stock's decline [2].