HXSS(SH:600477) Shang Hai Zheng Quan Bao·2026-01-13 19:11Core Viewpoint - The stock of Hangxiao Steel Structure Co., Ltd. has experienced significant fluctuations, with a cumulative increase of 46.80% over four consecutive trading days, leading to concerns about potential trading risks and a disconnect from the company's fundamentals [2][11]. Group 1: Stock Trading Anomalies - The company's stock has been on a trading suspension from January 8 to January 13, 2026, with a notable increase in trading volume and a high turnover rate of 15.79% on January 13, indicating substantial trading risks [2][5]. - The stock price closed at 4.36 yuan per share on January 13, 2026, with a static P/E ratio of 61.14 and a rolling P/E ratio of 91.84, which are significantly higher than the industry averages [4][11]. Group 2: Business Operations - The company specializes in steel structure contracting and has recently won a project in collaboration with Hunan Construction Group, which is expected to have a minimal impact on the company's overall revenue, accounting for less than 1% of the audited revenue for 2024 [2][8]. - The company confirmed that it does not engage in "commercial aerospace" business, despite media reports suggesting otherwise, and the recent project falls within its regular business operations [3][8]. Group 3: Financial Performance - For the first three quarters of 2025, the company reported a net profit attributable to shareholders of 148.81 million yuan, a decrease of 27.51% year-on-year, and a net profit of 83.18 million yuan after deducting non-recurring gains and losses, down 55.64% from the previous year [3][10].