公司24日晚间发布风险提示称，公司近期股票波动严重异常，可能存在非理性交易行为，交易风险较 高，存在股价大幅上涨后回落的风险。公司提醒广大投资者，应当切实提高风险意识，防范概念炒作， 谨慎决策，注意投资风险。 截至2025年11月24日，公司滚动市盈率85.29倍，市净率为14.83倍，公司当前的市盈率、市净率与同行 业平均水平存在较大差异。公司目前生产经营活动正常，不存在应披露未披露的信息。 中水渔业（000798）25日盘中跳水跌停，截至发稿，该股报14.94元/股，跌停板上封单达23万手。此 前，该股已连续7个交易日涨停。 ...

中水渔业（000798）24日开盘后直线拉升封涨停，截至发稿，该股报16.6元/股，涨停板上封单超11万 手。至此，该股已连续7个交易日涨停。 公司23日晚间发布风险提示称，公司近期股票交易异常波动，可能存在非理性交易行为，交易风险较 大，存在股价大幅上涨后回落的风险。 公司最新滚动市盈率77.53倍，市净率为13.48倍，公司当前的市盈率、市净率与同行业平均水平有较大 差异。公司不存在应披露未披露的信息。公司提醒广大投资者，应当切实提高风险意识，防范概念炒 作，谨慎决策，注意投资风险。 ...

据核实，公司前期披露的信息不存在需要更正、补充之处；公司未发现近期公共传媒报道了可能或已经对 本公司股票交易价格产生较大影响的未公开重大信息；近期公司经营情况及内外部经营环境未发生重大变 化；公司、控股股东和实际控制人不存在关于本公司的应披露而未披露的重大事项，或处于筹划阶段的重 大事项；公司控股股东、实际控制人在股票交易异常波动期间不存在买卖公司股票的情形。 连续录得六涨停后，11月23日晚间，中水渔业（000798）披露关于股价异动暨风险的提示公告。 11月14日至11月21日间的六个交易日内，中水渔业股价从最低8.54元/股涨至15.09元/股，累计涨幅近77%。 23日晚间公告中该公司表示，2025年11月20日、11月21日连续两个交易日收盘价涨幅偏离值累计超过 20%，根据深圳证券交易所股票交易规则的相关规定，属于股票交易异常波动的情形。 该公司表示，公司将严格按照有关法律法规的规定和要求，认真履行信息披露义务，及时做好信息披露工 作。本公司郑重提醒广大投资者，应当切实提高风险意识，防范概念炒作，谨慎决策，注意投资风险。 公开资料显示，中水渔业是由中国农业发展集团有限公司作为实际控制人，以远洋捕捞 ...

这两天资本市场可谓冰火两重天。一边是ST景峰收到法院重整裁定书，3.16万股民又要经历一轮"披星戴帽"的煎熬；另一边则是宇树科技顺利完成上市辅 导，其概念股年内平均涨幅高达71.37%。这让我想起鲁迅先生那句："不在沉默中爆发，就在沉默中灭亡。"在A股市场，这句话或许可以改成："不在数据 中清醒，就在情绪中沉沦。" 一、市场两极：ST景峰的教训与宇树科技的机会 ST景峰的故事令人唏嘘。这家2014年上市的心脑血管药物企业，如今却走到了重整边缘。最新公告显示，公司股票将于10月23日起被实施退市风险警示， 简称变更为"*ST景峰"。细看其发展轨迹，2023年末净资产为负值、债券逾期等问题早已埋下隐患。有趣的是，今年6月刚撤销退市风险警示，短短四个月后 又重回原点。 反观宇树科技，这家机器人企业正在资本市场高歌猛进。中信证券的上市辅导报告显示，公司已完善治理结构，预计年内提交IPO申请。其概念股表现更是 亮眼：29只概念股年内平均涨幅71.37%，浙江荣泰累计上涨316.38%，卧龙电驱涨240.73%。 二、估值陷阱：散户最容易犯的致命错误 我发现一个有趣的现象：牛市里散户最爱谈估值，熊市里却最不敢看估值。这种 ...

Core Viewpoint - The recent drastic price drop of Labubu blind boxes in the secondary market highlights the cyclical nature of capital speculation, transitioning from hype to collapse [1] Group 1: Product Overview - Labubu is a plastic doll from Pop Mart, marketed as a blind box collectible [3] - The product was previously sold at inflated prices, with individual dolls fetching up to ten times their original price due to perceived scarcity [3] Group 2: Market Dynamics - The price collapse was triggered by a sudden large-scale restock during the 618 shopping festival, which shattered the illusion of scarcity [3][4] - The brand employed a strategy of "hunger marketing" combined with periodic restocking to create initial scarcity and drive up market interest [4] Group 3: Speculation and Consumer Behavior - Speculators and middlemen exploited information asymmetry and technology to hoard products, misleading consumers about their investment value [4] - The true production cost of the dolls is relatively low, indicating that the perceived value is artificially constructed [5] Group 4: Investment Insights - The article warns against investing in products driven by speculative hype rather than intrinsic value, emphasizing the importance of companies with genuine innovation and brand strength [5] - The collapse of Labubu's prices serves as a reminder that speculative bubbles inevitably burst, reinforcing the principle that detached speculation from actual value leads to failure [5]

Core Viewpoint - The ongoing debate between hyaluronic acid and recombinant collagen in the capital market highlights the challenges faced by companies like Huaxi Biological, which is experiencing a decline in revenue and net profit after reaching a peak in 2022 [2][6]. Group 1: Company Response and Market Dynamics - Huaxi Biological criticized the recent reports from several securities firms that favor recombinant collagen over hyaluronic acid, claiming these reports misrepresent the safety and efficacy of hyaluronic acid [3][4]. - The company emphasized the importance of a healthy industry ecosystem, stating that without it, no company can achieve long-term success or maintain competitive advantages [5][6]. - Huaxi Biological is undergoing a comprehensive management transformation in 2024, including business process restructuring and digitalization, to address the challenges in the current operating environment [2][6]. Group 2: Financial Performance - In 2024, Huaxi Biological reported a revenue of 5.371 billion yuan, a year-on-year decrease of 11.61%, and a net profit of 174 million yuan, down 70.59% [6]. - The skin science innovation business, which accounts for nearly half of the company's revenue, saw a significant decline of 31.62% in revenue, totaling 2.569 billion yuan [6]. - In contrast, the medical terminal business achieved a revenue of 1.44 billion yuan in 2024, marking a growth of 32.03% [7]. Group 3: Industry Trends and Competition - The medical aesthetics industry is witnessing a shift from hyaluronic acid to recombinant collagen and other regenerative products, driven by evolving consumer preferences and technological advancements [5][9]. - The market for recombinant collagen is growing rapidly, with companies like Jinbo Biological and Giant Bio achieving substantial revenue increases in 2024, indicating a competitive landscape with low market concentration [8][9]. - Huaxi Biological is also investing in recombinant collagen research and development, aiming to leverage synthetic biology for technological upgrades and high-quality applications [7][8].