CMC(SH:603122) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-10 02:01Core Viewpoint - The stock of HeFu China has experienced a significant surge, achieving a 10-day consecutive limit-up, despite the company's declining financial performance and warnings about irrational market speculation [1][2]. Group 1: Stock Performance - HeFu China has seen its stock price rise for nine consecutive trading days since October 28, with a total increase of 136.07%, raising its market capitalization from 2.659 billion to 6.277 billion [1]. - On November 10, the stock reached a trading volume of 859 million with a turnover rate of 13.53% [1]. - The company has issued seven risk warning announcements during this period, emphasizing that the stock price is severely deviating from its fundamentals [1]. Group 2: Financial Performance - For the first three quarters, HeFu China reported a revenue of 549 million, a year-on-year decline of 22.80%, and a net loss of 12.3862 million, down 146.65% [2]. - The third quarter alone saw revenue of 181 million, a decrease of 21.27%, with a net loss of 5.048 million compared to a profit of 4.03 million in the same period last year [2]. - The company has faced continuous revenue decline since its peak in 2022, with projected revenues dropping from 1.28 billion in 2022 to 939 million in 2024 [2]. Group 3: Regulatory Attention - The abnormal trading behavior of HeFu China has attracted the attention of regulatory authorities, with the Shanghai Stock Exchange indicating that the trading situation constitutes severe abnormal fluctuations [3]. - The exchange plans to implement strict measures against such trading behaviors, which may include monitoring accounts, suspending trading, or restricting investor accounts [3].