Lihexing Co., Ltd. – Market Activity and Strategic Developments
Lihexing Co., Ltd. (stock code 301013.SZ) is a Shenzhen‑listed company whose core business revolves around the research, development, production and sales of automated and intelligent manufacturing equipment. The company’s market capitalization is CNY 3.79 billion and its trailing price‑to‑earnings ratio is –120.18, reflecting the firm’s current loss‑making status. The 52‑week high and low are CNY 24.36 and CNY 9.43 respectively, while the closing price on 2025‑09‑16 was CNY 24.36.
1. Trading Volatility and Recent Price Movements
Two Consecutive “Board” Days (2025‑09‑16 to 2025‑09‑18)
On 2025‑09‑16, 17 and 18 the stock closed with a cumulative price increase that exceeded 30 % of the normal daily range, triggering an abnormal trading‑movement announcement by the company’s securities regulator. The announcement highlighted the absence of any undisclosed material information that could explain the sharp rise.
Despite the volatility, the regulator stated that the planned equity issuance for a “semiconductor device precision component R&D and commercialization project” was still in the preparatory stage and would not materially affect the company’s short‑term operating performance.Share Price Performance
On 2025‑09‑18 the share price surged to CNY 29.23, reaching a new historical high and marking a 19.99 % increase for the day. The upward momentum was driven in part by the company’s inclusion in the “Huawei Ascend” concept, which experienced a sharp intraday rally. In the broader market, the Shanghai Composite and Shenzhen Component indices fell by 1.15 % and 1.64 % respectively, yet Lihexing’s price rose, underscoring the company’s relative strength amid a weak market backdrop.
2. Planned Equity Issuance and R&D Project
Lihexing’s board has disclosed that it intends to raise capital through a private placement of shares to fund a semiconductor‑device precision component R&D and commercialization initiative. The project is currently in the preparatory phase, with no expected impact on the company’s operating results in the near term. The issuance will likely increase the company’s equity base but is not expected to alter the current loss position significantly.
3. Institutional and Retail Investor Interest
- Institutional Activity
Although institutional participation was limited on 2025‑09‑18 (the day’s net institutional buying was modest compared to the retail surge), the company’s inclusion in the “Huawei Ascend” concept attracted attention from a broad range of market participants. - Retail Activity
The share price movement was accompanied by a significant intraday volume increase. Retail investors were particularly active, contributing to the 19.99 % single‑day gain and the new historical high.
4. Financial Snapshot
| Item | Value |
|---|---|
| Market Capitalisation | CNY 3.79 billion |
| 52‑Week High | CNY 24.36 |
| 52‑Week Low | CNY 9.43 |
| Closing Price (2025‑09‑16) | CNY 24.36 |
| Price‑to‑Earnings Ratio | –120.18 |
| Net Income (2025) | – CNY 3,793.55 million (loss) |
5. Outlook
The company’s current financial position remains loss‑making, with a negative earnings ratio that indicates a substantial operating loss. The planned equity issuance aims to support a semiconductor‑device precision component R&D project, which is expected to be completed in the medium term. Until the project reaches a stage where it can generate revenue, the impact on earnings is anticipated to be minimal.
Investors should monitor the progress of the equity issuance and the project’s development closely. Any material changes in the company’s financial performance, the status of the R&D project, or regulatory actions could significantly influence the share price.