FII(SH:601138) Jing Ji Guan Cha Wang·2025-11-24 14:22Core Viewpoint - Industrial Fulian's stock price experienced significant volatility, dropping over 30% from its peak, attributed to market rumors regarding potential revenue adjustments due to Nvidia's involvement in server production [2][3][4] Financial Performance - For the first three quarters of 2023, Industrial Fulian reported revenue of 603.93 billion yuan, a year-on-year increase of 38.4%, and a net profit attributable to shareholders of 22.49 billion yuan, up 48.52% [2] - On October 29, 2023, following the earnings report, the stock price surged over 9%, reaching a record high market capitalization of 1.6 trillion yuan [2] Stock Market Reaction - On November 24, 2023, the stock price fell to 54.61 yuan per share, a decline of 9.99% by midday, and closed at 55.95 yuan, down 7.80% for the day, with trading volume exceeding 18.7 billion yuan [2] - The market capitalization dropped to 1.11 trillion yuan, reflecting a loss of over 500 billion yuan in value since the peak [2] Market Rumors and Clarifications - A circulating rumor suggested that Nvidia would reduce Industrial Fulian's revenue expectations for Q4 2025, leading to concerns about order reductions and profit margin pressures [3][4] - Industrial Fulian issued a statement denying these rumors, asserting that Q4 operations were proceeding as planned and that there were no adjustments to profit targets or major client requests for changes [4][5] Analyst Opinions - Analysts expressed skepticism about the validity of the rumors, stating that Nvidia is unlikely to enter the OEM market as it would negatively impact its profit margins [6] - The overall sentiment among analysts is that the recent stock price declines in the computing power sector are primarily due to profit-taking and valuation adjustments rather than fundamental issues [6]