【导读】股价累计涨幅偏离基本面，国晟科技停牌核查 中国基金报记者 李智 5 倍 " 大牛股 " 国晟科技，停牌核查。 国晟科技停牌核查 1 月 6 日，国晟科技发布公告称， 2025 年 10 月 31 日至 2026 年 1 月 6 日期间，公司 股票 5 次触及股价异常波动、 1 次触及严重异常波动情形，累计涨幅高达 370.2% ，公司 股价累计涨幅偏离基本面，存在市场情绪过热、非理性炒作风险，以及股价短期快速回落风 险。 | 证券代码 证券简称 | | 停复牌类型 停牌起始日 停牌期间 停牌终止日 复牌日 | | --- | --- | --- | | 603778 | 国最科技 A 股 | 2026/1/7 | 为维护广大投资者利益，经申请，国晟科技股票将于 1 月 7 日（星期三）开市起停牌，预计 停牌时间不超过 3 个交易日，公司股票将自披露核查公告后复牌。公司提醒广大投资者注意 二级市场交易风险。 国晟科技表示，公司最新市净率显著高于行业平均水平，股价存在明显泡沫化特征。公司所 属电气机械和器材制造业最新市净率为 3.22 ，公司市净率为 17.47 ，高于行业平均水平。 经自查，目前公司生产 ...

Core Viewpoint - Guosheng Technology is attempting to expand into the lithium battery structural components sector through an acquisition, despite its photovoltaic business not being stable, which has raised inquiries from the Shanghai Stock Exchange [1] Group 1: Business Performance - Guosheng Technology's main businesses are photovoltaic and ecological landscaping, with the photovoltaic segment generating revenue of 308 million yuan and a cost of 344 million yuan in the first half of 2025, resulting in a negative gross profit [2] - The company has been experiencing significant revenue declines, with continuous losses over the years [1][2] Group 2: Acquisition Rationale - The acquisition of Fuyue Technology is seen as a strategic move to create a second growth curve for the company, aligning with its "wind-solar-storage" integrated development strategy [3] - Fuyue Technology operates in the lithium battery sector, which is considered a sunrise industry with promising growth potential, and its products are expected to meet national industrial development directions [3] Group 3: Funding for Acquisition - The total transaction price for the acquisition is 241 million yuan, with funding sourced primarily from acquisition loans covering at least 80% of the total price, amounting to 192 million yuan [5][6] - The seller will provide a performance compensation guarantee of 20% of the transaction price, effectively offsetting the need for the company to use its own funds for the acquisition [6] Group 4: Financial Projections and Assurances - Guosheng Technology expects to receive performance compensation from Guosheng Energy totaling 104 million yuan by the end of 2026, which will aid in loan repayment [8] - Fuyue Technology is projected to generate approximately 60 million yuan in free cash flow from 2025 to 2028, indicating potential for future profitability [8]