EMT(SH:601208) Jing Ji Guan Cha Wang·2026-02-11 10:38Core Viewpoint - The stock price of Dongcai Technology (601208.SH) has shown a fluctuating upward trend following the detention of its actual controller, with a closing price of 27.81 yuan on February 11, 2026, reflecting a rebound of approximately 12.18% from the low of 24.79 yuan on January 28, 2026, driven by the company's resilient fundamentals, performance growth expectations, and market adjustments to negative news [1] Company Performance - The company's 2025 performance forecast indicates an expected net profit attributable to shareholders of approximately 300 million yuan, representing a year-on-year increase of 65.73%. The electronic materials segment is the core driver, with revenue in the first three quarters reaching 1.102 billion yuan, a year-on-year growth of 37.19%. Products such as high-speed electronic resins are benefiting from downstream demand in AI servers and low-orbit satellites, indirectly supplying major global companies like NVIDIA through clients like Taiguang Electronics [2] Financial and Technical Analysis - On February 11, 2026, net inflows of main funds contributed to a 2.09% increase in stock price, with a trading volume of 1.961 billion yuan and a turnover rate of 6.79%. Despite the short-term pressure following the detention news on January 28, the cumulative increase over the past five trading days reached 2.89%, indicating that funds are gradually digesting the negative news. The stock price is currently above all major moving averages, with the Bollinger Band upper limit at 28.98 yuan posing short-term resistance. Although the MACD histogram is negative (-0.237), the KDJ J-line has rebounded to 61.92, suggesting a recovery in short-term momentum [3] Recent Stock Trends - Following the detention of the actual controller, the company has repeatedly emphasized that production and operations remain normal and that the board of directors is functioning without impact. Additionally, the market's concerns about governance risks have diminished as Yichang Technology (002420) has initiated a transfer of control to the Chuzhou State-owned Assets Supervision and Administration Commission. The company's Meishan base is expected to produce 20,000 tons of electronic resin annually starting in 2026, with projected annual sales revenue of 2 billion yuan, indicating that the long-term growth logic remains unchanged despite the incident involving the actual controller [4] Industry Policy and Environment - The electronic materials sector, to which the company belongs, is benefiting from domestic substitution and the explosive demand for AI hardware, with electronic resin sales expected to grow by 50.13% year-on-year by the third quarter of 2025. Despite the current price-to-earnings ratio (TTM) of 123.34 times, the market is more focused on the company's scarcity in high-end fields such as high-speed resins and the progress of capacity implementation [5]