Core Viewpoint - *ST Yushun's stock price has experienced significant volatility, leading to a suspension of trading for verification, with a notable increase of 204.18% from 4.51 CNY to 14.54 CNY between March 31 and May 20, 2025 [2][4][5] Group 1: Stock Price Movement - The stock price surged from 4.51 CNY to 14.54 CNY, marking a cumulative increase of 204.18% [2][4] - The stock recorded 22 out of 25 trading days with price increases, indicating abnormal trading activity [4][5] - The company has been suspended from trading since May 21, 2025, for a period not exceeding three trading days due to the unusual price fluctuations [2][4] Group 2: Valuation Metrics - The company's current static P/E ratio is 38.22, and the P/B ratio is 17.58, which are significantly higher than those of comparable companies [5][6] - Among comparable companies, the highest P/B ratio is 12.11 for OFILM, while the lowest is 1.65 for Jingwei Huikai [5] Group 3: M&A Activity - The company is planning a major asset restructuring involving the acquisition of 100% equity in three data center companies, which is expected to transform its business model [6][7] - The restructuring announcement on April 22, 2025, coincided with the stock price increase, suggesting potential speculative trading [6][8] - The restructuring is still in the planning stage and faces uncertainties, including the need for further negotiations and approvals [7][8] Group 4: Financial Health and Risks - As of the end of Q1 2025, the company reported cash reserves of 14.50 million CNY and total liabilities of 155 million CNY, indicating potential financial strain [7][8] - The target companies involved in the acquisition have significant debt, which could impact the future profitability of *ST Yushun [7][8] - The company faces a risk of delisting due to poor financial performance, with a reported revenue of 22 million CNY and a net loss of 17.57 million CNY for 2024 [9]