业绩暴跌71%仍5天4板！三变科技凭4万亿电网利好+马斯克订单疯狂逆袭？

Core Viewpoint - The stock of Sanbian Technology has surged by 38% despite a significant decline in performance, raising questions about whether this is a case of value discovery or a potential bubble [1][2][3] Group 1: Company Performance - In Q3 2025, Sanbian Technology reported a revenue decline of 16.9% year-on-year and a profit drop of 48.84%, with a staggering 71% decrease in quarterly net profit [1] - The company's operating cash flow turned negative, indicating severe fundamental issues [1] Group 2: Stock Market Activity - From January 13 to 19, Sanbian Technology achieved four consecutive trading limit increases, with a total stock price increase of 38.26% [2] - On January 19, the stock experienced a dramatic "limit-up" after initially hitting the limit-down, with a single-day trading volume of 2.592 billion and a turnover rate of 48% [2] Group 3: Market Dynamics - The surge in stock price can be attributed to the company's strategic expansion into overseas markets, including successful product integration into Musk's supercomputer center [3] - A 4 trillion investment plan from the State Grid has sparked a boom in energy infrastructure, positioning Sanbian Technology as a key supplier of grid equipment, thus benefiting from policy incentives [3] - Institutional investors have actively participated, with turnover rates skyrocketing from 4% to 60%, indicating a significant shift in stock ownership [3]