14天12板大牛股，将停牌核查

Core Viewpoint - The stock of HeFu China (603122.SH) has experienced significant volatility, with a cumulative increase of 256.29% over a period of fourteen trading days, leading to a suspension of trading to protect investor interests [1][2]. Group 1: Stock Performance and Trading Suspension - HeFu China's stock has hit the daily limit up on twelve out of fourteen trading days from October 28 to November 14, 2025, indicating excessive market enthusiasm and irrational speculation [1]. - The company has applied for a trading suspension starting November 17, 2025, expected to last no more than three trading days, pending the release of a verification announcement [1]. Group 2: Financial Performance and Market Conditions - The company's current price-to-earnings ratio is significantly higher than the industry average, indicating potential overvaluation [2]. - In Q3 2025, HeFu China reported a net loss of 5.048 million yuan, a year-on-year decline of 225.26%, highlighting a serious divergence between stock price and operational performance [2]. - The decline in profits is attributed to price reductions from centralized procurement and adjustments in healthcare policies, leading to decreased sales revenue and profit levels [2]. - Despite implementing various cost control measures, the short-term reduction in expenses has not fully offset the decline in revenue, resulting in ongoing pressure on the company's operating performance [2].