法狮龙股价创历史新高，业绩减亏与AI转型成关键驱动

Core Viewpoint - The company has shown signs of recovery despite a projected loss in 2025, with significant improvements in profitability and strategic shifts towards technology and AI [1][2][3]. Financial Performance - The company expects a net profit attributable to shareholders of between -4 million to -6 million yuan in 2025, a substantial reduction of over 75% compared to a loss of 28.99 million yuan in 2024 [2] - In Q3 2025, the company achieved a turnaround with a net profit of 6.17 million yuan, representing a year-on-year growth of 199.12% [2] - The gross margin for Q3 2025 reached 21.35%, an increase of 7.89 percentage points year-on-year, indicating effective cost reduction and efficiency improvement measures [2] Strategic Initiatives - The company has invested 250 million yuan to establish a wholly-owned AI subsidiary, "Beichen Xingqiong," marking a significant step towards transforming into a technology-oriented company [3] - Recent governance changes, including the cancellation of the supervisory board and amendments to the articles of association, aim to enhance decision-making efficiency and protect minority shareholders' rights, thereby boosting investor confidence [3] Market and Technical Analysis - On February 12, 2026, the stock hit a daily limit with a net inflow of 27.35 million yuan from main funds, accounting for 6.27% of total trading volume [4] - From February 6 to 12, 2026, the total net inflow of main funds was 17.64 million yuan, indicating active institutional investment [4] - The stock price broke through the upper Bollinger Band at 71.81 yuan on February 12, 2026, with the KDJ indicator J line rising to 104.89, suggesting a strong bullish trend [4] Industry Policy Context - As an official ceiling supplier for the Asian Games and a vice-chairman unit of the prefabricated decoration sub-association, the company is expected to benefit from the marginal easing of policies in the real estate industry [5] - There is significant market potential for the application of AI technology in the traditional home building materials sector, which may drive valuation reconstruction [5] Company Valuation - Due to the current loss situation, the company's price-to-earnings ratio (TTM) stands at -538.21 times, while the market is focusing on the price-to-sales ratio (approximately 14.3 times) [6] - With relatively stable revenue (3.75 billion yuan in the first three quarters of 2025), the progress in reducing losses and expectations for transformation are jointly driving valuation recovery [6]