Analysis of the Strong Performance of Xinrui Technology (300745): Resonance of Performance Inflection Point and Technological Innovation

Xinrui Technology performed strongly on January 7, 2026, with its stock price surging 13.28% to hit a 52-week high of RMB 31.29. The trading volume today reached 21.12 million shares, 2.42 times the average daily volume of 8.72 million shares, with a net inflow of RMB 10.2583 million in main capital [0][3]. This strong performance is the result of resonance of multiple factors.

From a time perspective, the company entered a temporary trading halt on January 5, 2026, and staged a catch-up rally after resuming trading on January 7 [4]. Combined with previously accumulated positive factors, including turning profitable in Q3 2025 on a single-quarter basis and the mass production and installation of gallium nitride (GaN) OBC technology, this led to today’s breakout performance.

is the core support for this round of rally. Xinrui Technology turned profitable in Q3 2025 on a single-quarter basis, with EPS of RMB 0.02 and revenue of RMB 612 million. This is the first profit after consecutive quarterly losses, marking an inflection point in fundamentals [0][1]. Although the Trailing Twelve Months (TTM) net profit margin is still -4.34% and ROE is -4.99%, the quarterly improvement trend is clear.

provides a long-term growth logic. In August 2025, the company launched its 9th-generation on-board power supply platform “Ruihu”, achieving the industry’s first mass-produced technology of single-stage matrix converter topology based on bidirectional gallium nitride devices. Co-developed with Changan Automobile, this platform has been successfully installed on the Changan Qiyuan E07 model [2]. Compared with traditional silicon-based solutions, gallium nitride technology has the advantages of high efficiency, small size and light weight, representing the evolution direction of on-board power supply technology.

indicates institutional recognition. Main capital saw a net inflow of over RMB 10 million before the trading halt, and the balance of margin trading reached a record high, with strong bullish sentiment in the market [3][5]. The significant expansion of trading volume shows that off-market funds are actively entering the market to follow up.

In terms of technical patterns, Xinrui Technology shows typical strong breakout characteristics:

Technical Indicator	Current Status	Signal Implication
Moving Average System	20-day, 50-day, and 200-day moving averages in a bullish alignment	Medium-term uptrend established
Price Level	Hits 52-week high	Upside potential unlocked
Trading Volume	Volume ratio of 2.42x today	Obvious capital-driven characteristics
RSI	Enters overbought zone	Short-term adjustment demand exists
Intraday Amplitude	17.8% (RMB 26.75 - 31.29)	Fierce long-short game

The short-term moving averages show a golden cross pattern, with the 20-day moving average (RMB 26.37) forming an important short-term support level. It should be noted that the RSI indicator has entered the overbought zone, and technical pullback pressure may occur in the short term [0].

Xinrui Technology’s main business is the R&D, production and sales of on-board power supplies for new energy vehicles, with main products including on-board chargers (OBC), on-board DC/DC converters and high-power charging products (SCM super fast charging module) [7]. The company has high-quality customer resources, having supplied products to more than 100 automakers including BYD, Xpeng Motors, and Li Auto, with a solid customer base.

In terms of business expansion, the company is actively deploying in multiple cutting-edge fields such as AI server power supplies, charging piles, energy storage, robots, low-altitude economy and hydrogen energy battery components [1]. These strategic layouts are expected to gradually contribute incremental revenue from 2026 onwards, reducing reliance on the single on-board power supply business.

However, the fundamental improvement is still in the early stage. The company’s current TTM is still in a loss state, with a P/E ratio of approximately -45x, indicating that the market pricing reflects more future expectations rather than current performance [0]. Whether the profitability can continue to improve still needs to be verified by subsequent quarterly financial reports.

The strong performance of Xinrui Technology reflects three important trends in the new energy vehicle industry chain:

. The application of gallium nitride technology in OBC products marks the industry’s entry into a new round of technological upgrading cycle. As the first to achieve mass production and installation, Xinrui Technology is expected to gain first-mover advantage during the technology dividend period and consolidate its cooperative relationships with leading automakers.

. The company has entered the supply chains of more than 100 automakers including BYD, Xpeng Motors, and Li Auto, with its customer structure focusing on leading enterprises. Against the backdrop of increasing market concentration in the new energy vehicle market, on-board power supply suppliers bound to leading customers are expected to achieve more stable order growth.

. Although the company is still in a loss state, the market has given a high valuation premium for its technological breakthroughs and business expansion. This reflects that investors are adopting a valuation framework that focuses more on growth rather than short-term profits for companies in the new energy vehicle industry chain.

The strong performance of Xinrui Technology is not an isolated event, but represents the structural preference of the A-share market for “turnaround” technology growth stocks. The emergence of a performance inflection point provides fundamental support for valuation repair, while the superposition of popular concepts (energy storage, new energy vehicles, charging piles, etc.) has amplified market attention and capital inflow effects.

At the same time, it should be noted that the overall market may have risen significantly during the company’s trading halt, and the catch-up rally after resuming trading may be accompanied by the risk of “good news being fully priced in”. Investors need to distinguish between the growth components driven by fundamentals and those driven by sentiment.

From an industry perspective, Xinrui Technology’s breakthrough has demonstrative significance for the new energy vehicle on-board power supply track. If the company’s gallium nitride technology route is recognized by the market and achieves large-scale application, it may force industry technological upgrading and accelerate the replacement of traditional silicon-based solutions by gallium nitride solutions. This structural change is expected to reshape the industry competition pattern, benefiting technologically leading enterprises.

: The company’s current TTM is still in a loss state, with a negative P/E ratio, and its fundamentals are still in the recovery process [0]. The stock price performance more reflects market expectations, and if subsequent performance falls short of expectations, it may face valuation regression pressure.

: The stock has risen 33.91% in 3 months, and the RSI indicator has entered the overbought zone, with short-term technical adjustment demand [0]. Investors need to be aware of the risk of chasing highs and avoid entering the market after a short-term sharp rise.

: Whether the Q3 turnaround is a trend inflection point still needs to be verified by the Q4 financial report. If Q4 performance declines, it may shake the market’s confidence in the company’s fundamental improvement.

: The new energy vehicle on-board power supply track is highly competitive, and the company needs to continuously maintain technological leadership to cope with the catch-up of competitors.

: Yield improvement and cost control of gallium nitride technology are the key. If there are bottlenecks in technological research, it may affect mass production progress and profitability.

: The Q3 turnaround marks a fundamental inflection point. If the improvement trend continues in Q4 and subsequent quarters, the valuation repair space is considerable.

: If new businesses such as AI server power supplies, charging piles and energy storage achieve substantial breakthroughs in 2026, they are expected to open a second growth curve and reduce reliance on the on-board power supply business.

: As the first enterprise in the industry to achieve mass production and installation of gallium nitride OBC, the company is expected to enjoy high profit margins during the technology dividend period.

: Sustained inflow of main capital shows that institutional funds are building positions. Combined with the superposition of popular concepts, the short-term liquidity premium is expected to be maintained.

: The stock price may enter a consolidation phase to digest gains, with support in the RMB 26-28 range [0]. Attention should be paid to the capital acceptance strength and trading volume changes after the resumption of trading.

: If Q4 performance continues to improve, combined with the progress of new business expansion, the stock price is expected to challenge RMB 35-40. If performance falls short of expectations, it may pull back to the 20-day moving average.

: It is necessary to observe the substantial breakthroughs of the company in new fields such as AI server power supplies and charging piles, as well as whether profitability can continue to improve.

The strong performance of Xinrui Technology today is jointly driven by multiple factors including performance inflection point, technological breakthrough, capital inflow and catch-up rally after trading halt. The company turned profitable in Q3 2025 on a single-quarter basis, and was the first to achieve mass production and installation of gallium nitride OBC technology, showing positive change signals in fundamentals. Technically, the stock price hit a 52-week high with moving averages in a bullish alignment, but the RSI has entered the overbought zone, with short-term pullback pressure.

From the perspective of supporting factors, the company has high-quality customer resources (more than 100 automakers including BYD, Xpeng Motors, and Li Auto), diversified business layouts (AI server power supplies, charging piles, energy storage, etc.) and leading technological routes (industry’s first gallium nitride technology), which are expected to benefit from the transformation of the new energy vehicle industry chain.

From the perspective of risk factors, the company’s TTM is still in a loss state with a negative P/E ratio, and the fundamental repair is still in the early stage. With a large short-term gain combined with the catch-up effect after resuming trading, investors need to be alert to the pullback risk after the good news is fully priced in. Investors should pay attention to Q4 performance and technological application progress to verify the sustainability of fundamental improvement.

Overall, Xinrui Technology is a high-volatility, high-elasticity growth target suitable for investors with higher risk appetites. Close attention should be paid to changes in trading volume, main capital flows and performance verification, with proper risk management in place.