CMC(SH:603122) Mei Ri Jing Ji Xin Wen·2025-11-13 12:07Core Viewpoint - The stock price of HeFu China (603122.SH) has significantly deviated from its fundamentals, leading to potential risks for investors, with a cumulative increase of 230.84% over a period of thirteen trading days, raising concerns about market overheating and irrational speculation [1][5]. Group 1: Stock Performance - As of November 13, the stock price of HeFu China closed at 22.10 CNY per share, reaching a historical high, with a market capitalization of 8.797 billion CNY [3][4]. - The stock has experienced twelve out of thirteen consecutive trading days closing at the limit-up price, indicating extreme volatility [1]. Group 2: Financial Performance - HeFu China's Q3 report shows a revenue of 549 million CNY for the first three quarters, a year-on-year decline of 22.80%, and a net loss of 12.3862 million CNY, a decrease of 146.65% compared to the previous year [5]. - The company has faced a continuous decline in performance since its peak in 2022, with revenues dropping from 1.28 billion CNY in 2022 to 939 million CNY in 2024, and net profits shrinking from 82.7197 million CNY to 27.5663 million CNY [5]. - The decline in performance is attributed to policy adjustments in the medical industry, leading to reduced procurement prices and order volumes from hospital clients, which has not been fully offset by cost control measures [5].