TD Online(SZ:002995) 21世纪经济报道·2026-02-01 12:44Core Viewpoint - Tian Di Online's stock has experienced significant volatility, with a cumulative increase of 87.35% over 10 trading days, raising questions about the underlying reasons for this surge [1][3]. Group 1: Stock Performance - Tian Di Online's stock price deviated by over 20% for two consecutive trading days (January 29 and 30, 2026) [1]. - The company achieved six trading limit-ups since January 19, 2026, and has increased by over 108% year-to-date [1]. Group 2: Company Background - Tian Di Online, officially known as Beijing Quanshi Tian Di Online Network Information Co., Ltd., has a registered capital of approximately RMB 177.45 million [4][5]. - The company has invested in 20 enterprises, including Beijing Zhongshu Yilian Network Technology Co., Ltd., which is associated with Li Yapeng [5][6]. Group 3: Financial Performance - Despite the stock price surge, Tian Di Online's financial outlook is concerning, with an expected net profit loss of between RMB 86 million and RMB 153 million for the year 2025 [7]. - The company cites increased procurement costs due to upstream media policy changes and a rise in asset impairment provisions as reasons for the anticipated losses [8].