Grace(SH:603256) Jing Ji Guan Cha Wang·2026-02-13 10:54Core Viewpoint - The stock price of Honghe Technology has experienced significant fluctuations, with a notable increase of 582.22% since May 29, 2025, leading to a high rolling P/E ratio of 380.80 times, which is substantially above the industry average [1] Stock Performance - The trading activity of Honghe Technology has increased significantly, with a turnover rate of 2.03% and a transaction volume of 1.278 billion yuan on February 12, 2026, despite net outflows from retail investors [2] - On February 13, 2026, the stock price experienced a decline of 2.28% to 71.60 yuan, with a five-day cumulative increase of 34.79% [1][2] - The stock has shown increased volatility, with a trading range of 8.60% on February 13, 2026, and a total transaction volume of 3.401 billion yuan [2] Financial Performance - For the first three quarters of 2025, Honghe Technology reported a revenue of 852 million yuan and a net profit attributable to shareholders of 139 million yuan [3] - The company anticipates a year-on-year increase in net profit of 745% to 889% for the full year of 2025, driven by rising demand for AI servers [3] - The current TTM P/E ratio stands at 409.33 times, indicating that the valuation may have already priced in some of the expected growth [3] Institutional Insights - The electronic cloth industry is experiencing sustained demand, particularly due to AI servers and high-speed applications, positioning Honghe Technology as a potential beneficiary of this trend [4] - Some reports categorize the company as a PCB concept stock, although its core business in electronic-grade glass fiber cloth has not undergone significant changes, raising concerns about speculative trading risks [4] - Current institutional ratings are predominantly neutral, with profit forecasts suggesting a potential slowdown in net profit growth to 58.17% in 2026 [4]