富佳股份股价回调，业绩增速放缓与资金流出成主因

Core Viewpoint - The stock price of Fujia Co., Ltd. (603219) experienced a decline on February 13, 2026, primarily due to slowing performance growth, outflow of main funds, and overall weak industry performance [1] Financial Performance - In the first three quarters of 2025, the company's revenue increased by 23.3% year-on-year, but the revenue for the third quarter saw a decline of 3.3% year-on-year [2] - The net profit attributable to the parent company decreased by 19.2% year-on-year, with the non-recurring net profit declining by 29.6% [2] - Concerns about insufficient growth momentum in the traditional business have intensified, linked to a slowdown in the export growth of the vacuum cleaner industry, which saw a year-on-year growth rate drop to 10.7% in Q3 2025 from 15.2% in Q2 2025 [2] Fund Flow Situation - On February 13, 2026, the net outflow of main funds from Fujia Co., Ltd. was 1.2622 million yuan, with main selling accounting for 13% and retail buying accounting for 38% of the total [3] - The trading volume for the day was 78.41 million yuan, reflecting a decrease in market participation compared to previous trading days [3] - The stock price fell below the 5-day and 10-day moving averages, both at 18.63 yuan, with a short-term resistance level around the 20-day moving average at approximately 18.50 yuan [3] Industry Performance - On the same day, the home appliance sector overall declined by 0.53%, while the small appliance sector fell by 0.46% [4] - The Shanghai Composite Index and Shenzhen Component Index dropped by 1.26% and 1.28%, respectively [4] - Fujia Co., Ltd.'s stock price fell by 3.23% in a single day, with a volatility of 3.44%, underperforming both the industry and the broader market [4] - Some investors may have reduced their holdings in high-valuation stocks due to increased market risk aversion, with the company's TTM price-to-earnings ratio at 66.79 times [4] Business Development - In August 2025, the company launched a smart grain robot with an annual production capacity planned at 100,000 units, but it is expected to start contributing revenue only in 2026 [5] - The market remains cautious about whether the cross-border business can effectively offset the weakness in traditional business [5] Summary - The decline in Fujia Co., Ltd.'s stock price is attributed to a combination of slowing performance growth, fund outflows, and overall industry weakness [6]