年内大牛股涨到“自己都怕”，或再申请停牌，股价应声下跌

Core Viewpoint - Zhite New Materials (300986.SZ) has issued a warning regarding the "hot potato" risk associated with its stock price surge, which has deviated significantly from its fundamentals, indicating potential for a sharp decline in the short term [1][5]. Group 1: Stock Performance and Market Reaction - The stock price of Zhite New Materials increased by 211.27% from January 5 to January 21, 2026, leading to multiple instances of abnormal trading fluctuations [3]. - On January 21, 2026, the stock price closed at 33.2 yuan, down 4.6%, with a market capitalization of 13.666 billion yuan [1]. - The company reported a rolling P/E ratio of 108.43 and a P/B ratio of 6.73, significantly higher than the industry averages of 39.14 and 3.2, respectively [5]. Group 2: Business Overview and Strategic Moves - Established in 2011, Zhite New Materials is the first A-share listed company in the green new building formwork industry, having gone public on the Shenzhen Stock Exchange in April 2021 [5]. - The company’s main business includes aluminum formwork, protective platforms, and prefabricated components, with no changes reported in its core operations [7]. - In April 2025, Zhite New Materials signed a strategic cooperation agreement with Hefei Micro Era Digital Technology Co., Ltd. and the Quantum Technology Yangtze River Delta Industry Innovation Center to explore applications in quantum technology within new materials [7]. Group 3: Financial Performance and Growth Areas - For the first three quarters of 2025, Zhite New Materials achieved a revenue of 2.023 billion yuan, with a net profit of 118 million yuan, marking a 98.65% increase compared to the previous year [9]. - The company reported a significant increase in cash flow from operating activities, reaching 139 million yuan, a year-on-year growth of 7907.42% [9]. - International business contributed 307 million yuan in revenue during the first half of 2025, reflecting a 27.31% increase, with plans to expand into various global markets [9].