2025年9月18 - 22日，亚振家居股份有限公司股票连续三个交易日涨停，自9 - 22日累计涨幅达16.80%， 短期涨幅与同期上证指数、家具制造业严重偏离，最新滚动市盈率亏损，市净率35.08，远高于行业水 准，或存在非理性炒作。公司2025年上半年净利润亏损，股票已被实施退市风险警示，若今年相关指标 不达标，将面临终止上市风险。此外，公司收购广西锆业51%股权已完成工商变更，但整合运营存在不 确定性，业务盈利也难预期。公司提醒投资者理性决策、审慎投资。 ...

交易行情显示，7月19日，中通客车高开8.14%，开盘价为27.5元/股，盘中一度触及涨停。下午开盘 后，中通客车股价直线跳水，并于尾盘触及跌停，最终收于跌停价22.89元/股，跌幅为9.99%，总市值 为135.7亿元，当日成交金额为59.46亿元，换手率为39.52%。 中通客车本次闪崩或与一则市场传闻有关。据了解，7月19日午间收盘时分，一则传闻称，有券商接到 交易所电话，称将对频繁参与中通客车交易的投资者从严从重处理，还考虑对券商进行扣分处理。此外 还指出，相应分支机构应加强投资者宣导，非必要不参与该标的的交易，针对已持有（特别是大额持 有）该标的的投资者，建议明确传达交易所警示要求，切勿继续买入。 行业资深研究人士王剑辉表示，无论是个人投资者还是券商，是否违规都有明文规定，该传闻是否可靠 仍有待查证，投资者还是应以监管所发布的官方消息为准。 会出现该传闻的根本源头还是因为中通客车近期的股价涨幅较大，不到3个月间曾大涨逾5倍。东方财富 显示，4月27日-7月18日，中通客车区间累计涨幅为534.16%，是今年不折不扣的大牛股。 传闻的威力有多猛？7月19日午后，大牛股中通客车（000957）股价出现大 ...

人民财讯8月7日电，长城军工（601606）8月7日晚间发布股票交易异常波动公告。公司股票自2025年6 月18日以来收盘价格累计上涨幅度为274.76%，同期申万军工行业涨幅18.20%，上证指数涨幅7.45%， 公司股票短期涨幅严重高于同期行业及上证指数涨幅，但公司基本面未发生重大变化，存在市场情绪过 热及非理性炒作的情形，公司股票击鼓传花效应十分明显，交易风险极大，存在短期大幅下跌的风险。 ...

Core Viewpoint - The extreme trading behavior of *ST Guandao highlights the speculative nature of the stock market, particularly in the context of companies facing delisting risks, with significant price fluctuations driven by retail investors and speculative funds [1][2][4]. Group 1: Stock Performance - On July 31, *ST Guandao opened at a limit-down price of 6.60 yuan, but within a minute, a large volume of buy orders pushed the stock price up by 20%, eventually closing at a limit-up price of 12.24 yuan, marking a daily increase of 29.94% with a trading volume of 2.31 billion yuan and a turnover rate of 51.63% [1]. - Since June 25, *ST Guandao has experienced six instances of 30% limit-up within seven trading days, resulting in a cumulative increase of 356.72% [1]. Group 2: Trading Dynamics - The stock's price surge occurred after the company underwent its third suspension for verification, with previous suspensions failing to dampen speculative interest, instead reinforcing the expectation that scrutiny would lead to further price increases [1][2]. - Following regulatory actions against two individual investors for market manipulation, the stock continued to rise, with a 29.93% increase on July 16, indicating persistent speculative buying despite regulatory scrutiny [2]. - Data from the trading board revealed a rapid rotation of over 20 different trading seats, indicating a shift from institutional to retail investor participation in the stock's trading activity [2]. Group 3: Regulatory Context - *ST Guandao has issued seven warnings regarding delisting risks, with the China Securities Regulatory Commission indicating that the company had inflated revenue by 1.465 billion yuan from 2018 to mid-2024, which constitutes a serious violation of listing rules [3]. - Market experts suggest that the unique trading rules of the Beijing Stock Exchange, particularly the 30% price fluctuation limit, have been exploited for speculative trading, prompting calls for stricter regulations on stocks at risk of delisting [4].