业绩亏损反复炒作 国晟科技股价上演“地天板”

Core Viewpoint - Guosheng Technology (603778.SH) has experienced a dramatic stock price increase, reaching a peak of 18.01 CNY per share, despite a significant divergence from its fundamental performance, as the company is projected to incur losses of 325 million to 650 million CNY in 2025, which is an increase from the previous year's losses [2][3] Group 1: Company Performance - Guosheng Technology's stock price surged by 480% in 2025, leading to a fourfold increase in market capitalization, despite the company forecasting losses for the same year [2] - The company, formerly known as Qianjing Garden, has a history of financial struggles, with cumulative losses exceeding 400 million CNY from 2020 to 2022 [2] - Following a cash acquisition of subsidiaries in the photovoltaic sector, Guosheng Technology adopted a dual business model of "landscaping + photovoltaic," but faced challenges as the photovoltaic industry entered a cyclical downturn [2][3] Group 2: Industry Context - The photovoltaic industry is currently experiencing structural overcapacity and persistent supply-demand imbalances, leading to continued low prices for components, which adversely affects Guosheng Technology's revenue and profitability [3] - The company's cautious approach has led to provisions for inventory write-downs and long-term asset impairments, further impacting its financial performance [3] Group 3: Market Reactions - The abnormal fluctuations in Guosheng Technology's stock price have attracted regulatory scrutiny, resulting in self-regulatory measures against investors engaging in unusual trading activities [4] - Following the regulatory notice, the stock experienced a decline, with five consecutive trading days of price drops from January 15 to January 21 [4] - On January 22, the stock saw a trading volume exceeding 2.4 billion CNY, indicating renewed speculative interest [6]