Analysis of Wajinke (301380)'s Strong Performance: Catalysts and Sustainability Assessment

The core driver for Wajinke (301380) recently entering the strong stock pool is the controlling shareholder’s share transfer agreement event [1]. On December 30, 2025, the company announced that controlling shareholder Chen Kun intends to transfer 5% of shares to Beijing Kaisheng Enterprise Management Development Center at 31.67 yuan/share, which forms short-term price support. The next day (December 31), the company’s stock price hit the limit-up (+20.00%) with a closing price of 37.80 yuan [0][1], and the strong performance on January 4, 2026 is the continuation momentum of this event.

From a technical perspective, the limit-up on December 31, 2025 formed a strong bullish signal; short-term technical indicators show an overbought state, and trading volume is likely significantly higher than the average [0]. On the fundamental side, the company’s 2025Q3 revenue increased by 17.0% YoY, but net profit attributable to parent company decreased by 23.4% YoY with a quarterly loss of 4.15 million yuan [2]. The share transfer introduces new investors, bringing strategic expectation support, but no obvious fundamental improvement signals have emerged yet.

1. Event-driven market characteristics
   : This strong performance is mainly driven by a one-time share transfer agreement event rather than continuous fundamental improvement, so short-term sentiment-driven gains need to be cautious of the risk of lacking long-term support.
2. Clear price support and resistance
   : The share transfer price of 31.67 yuan is an important short-term support level, and the limit-up price of 37.80 yuan is a short-term resistance level; breakthroughs will affect subsequent trends.
3. Fundamental challenges to be resolved
   : Although revenue has grown, the decline in net profit and quarterly loss indicate the company faces profit pressure; long-term growth depends on fundamental improvement or new strategic actions.

1. Profit pressure reflected by the third-quarter loss [2];
2. The share transfer has not been completed yet, with uncertainties;
3. Correction risk after short-term overheating sentiment;
4. Lack of follow-up catalyst support, the upward momentum may be unsustainable.

1. The introduction of new investors may bring strategic resources and development opportunities;
2. If it can break through the 37.80 yuan resistance level, it may open up further upward space in the short term.

• The core catalyst for Wajinke (301380) entering the strong stock pool is the controlling shareholder’s share transfer agreement event [1];
• Technical aspects show short-term strength, with support level at 31.67 yuan and resistance level at 37.80 yuan [0];
• Fundamentals face profit pressure, with a quarterly loss of 4.15 million yuan in 2025Q3 [2];
• Short-term trends are affected by event momentum; long-term performance requires attention to fundamental improvement and strategic actions, with potential correction risks.