Hangzhou Cable Co. Ltd. Experiences Two-Day Trading Spike Amidst Sector Momentum
The Shanghai‑listed cable manufacturer, Hangzhou Cable Co. Ltd. (603618), recorded a dramatic surge in market activity over the weekend of 15–17 September 2025. The shares closed at 8.35 CNY on 17 September, up 10.01 % from the previous session, following a 10.00 % increase to 7.59 CNY on 16 September. This back‑to‑back rise to the upper trading band drew attention from regulators and investors alike, prompting a series of disclosures and inquiries about the underlying catalysts.
1. Regulatory Notice of “Abnormal Price Movement”
On 17 September, the Shanghai Stock Exchange issued an official notice that Hangzhou Cable’s stock had exhibited “abnormal trading volatility” over two consecutive days. The notice confirmed that the cumulative price‑deviation exceeded the 20 % threshold that triggers a market‑watch flag. The company undertook an internal audit and sent a confirmation letter to its controlling shareholder and actual controller. The audit concluded that day‑to‑day operations remained unchanged and no undisclosed material information had surfaced. The company urged investors to exercise caution and to approach trading of its shares with prudence.
2. Market‑Driven Surge: Smart‑Grid and Copper Foil Themes
Both trading days’ gains were largely attributed to a confluence of sector‑specific catalysts:
| Item | Description |
|---|---|
| Smart‑grid collaboration | On 15 September, the State Grid Hangzhou Power Company, Yushu Technology, and the Zhejiang Huadian Research Institute signed a “Power + Embodied Intelligence” framework agreement. This partnership signals an acceleration of AI‑enabled power systems, a sector in which Hangzhou Cable supplies core conductors and cables. |
| Copper foil demand | Hangzhou Cable announced the successful entry of its “Ultra‑thin copper foil for new‑energy vehicles” project into pilot production. Copper foils are essential for high‑frequency power electronics, a key component in electric vehicles and data‑center power supplies. |
| Smart‑grid and optical‑fiber synergy | The company’s product mix also spans overhead wires, mid‑low‑power cables, and special power cables that are integral to both smart‑grid infrastructure and fiber‑optic communications. |
The convergence of these themes coincided with a broader market rally, reflected in the 1.74 % rise of the ChiNext index and a 0.41 % uptick of the Shanghai Composite index on the same day. Investor sentiment toward the smart‑grid and new‑energy sectors was buoyant, further amplifying the price movement of Hangzhou Cable shares.
3. Trading Dynamics and Liquidity Profile
- Opening price movement: The stock hit the upper limit at 09:30 02 on 17 September, holding the band for 3 hours 59 minutes 42 seconds.
- Order‑book concentration: The highest sell‑wall during the session reached 13.834 million CNY, while the actual floating shares were only 3 % of the marketable float. The daily trade volume represented 17.69 % of the daily turnover.
- Liquidity context: Compared with the 52‑week low of 4.21 CNY and high of 9.26 CNY, the current price sits closer to the upper band, indicating elevated speculative interest.
4. Company Profile and Market Position
Hangzhou Cable Co. Ltd. is a leading manufacturer of electrical cables and conductors headquartered in Hangzhou, China. With a market cap of 4.66 billion CNY and a price‑earnings ratio of 42.45, the company is a sizeable player in the industrial sector. Its product range covers:
- Aluminum‑alloy conductors
- Overhead wires
- Mid‑low‑power cables
- Special power cables
The firm markets its products globally and maintains a robust R&D pipeline to support emerging market demands, such as the new‑energy vehicle and data‑center power segments.
5. Outlook
While the recent two‑day surge demonstrates strong sector momentum, the regulatory notice underscores the importance of monitoring liquidity and volatility. Investors should weigh the company’s solid product portfolio and strategic collaborations against the heightened short‑term price volatility. As the smart‑grid and new‑energy markets continue to mature, Hangzhou Cable’s role in providing critical cable infrastructure positions it favorably for long‑term growth.