Qianjing Landscape(SH:603778) Ge Long Hui A P P·2026-01-22 07:28Core Viewpoint - Guosheng Technology, known as the "first妖股" in the photovoltaic sector, experienced a series of six consecutive trading halts before rebounding to hit the daily limit, showcasing extreme volatility in its stock price [1]. Group 1: Stock Performance - The stock faced six consecutive trading halts since January 15, with five of those being limit-downs, before a sudden surge led to a limit-up [1]. - Since November 2025, the company's stock price has increased nearly 300% cumulatively [1]. - The stock price reached a peak of 18.01, reflecting a 10.02% increase on the day of the limit-up [2]. Group 2: Company Background and Financials - Guosheng Technology, previously known as "Qianjing Garden," transitioned into the photovoltaic sector in 2022 [4]. - The company has been in a continuous loss state since 2020, with total losses amounting to 628 million yuan from 2020 to 2024 [4]. - For the first three quarters of 2025, the company reported a revenue decline of 57.79% to 450 million yuan, with a net loss of 152 million yuan [4]. Group 3: Business Strategy and Acquisitions - The company has been actively engaging in acquisitions to align itself with trending sectors, including solid-state batteries and lithium batteries [6]. - In October and November 2025, Guosheng Technology announced plans to invest 230 million yuan in a solid-state battery manufacturing project and to acquire 100% of lithium battery component company Fuyue Technology for 240.6 million yuan [6]. - The acquisition price for Fuyue Technology reflects a valuation increase of 1167.27% over its net assets, indicating potential overvaluation risks [6]. Group 4: Market Reactions and Uncertainties - The stock's rapid rise and subsequent trading halts may be attributed to uncertainties surrounding the completion of the acquisition financing, which has been extended to April 15 for approval [7].