Analysis of People.cn (603000) 3 Consecutive Limit-Up: Speculation Lacks Fundamental Support, Sharp Correction Risks Loom

People.cn Co., Ltd. (Stock Code: 603000) surged to the daily limit on January 15, 2026, marking its third consecutive trading day of limit-up, and officially entered the limit-up stock pool [0][6]. The closing price was RMB 30.83, with a gain of 9.99%, and the total market capitalization reached RMB 34.089 billion. From a technical perspective, the stock’s 5-day gain reached 53.77%, and its monthly gain hit 64.16%, far outperforming the Shanghai Composite Index’s 3.96% gain over the same period [4]. Notably, today’s trading volume skyrocketed to 241 million shares, about 15 times the average daily trading volume (approximately 15.88 million shares), and the turnover rate surged from 1.77% to 9.92%, showing typical characteristics of hot money relay speculation [0][4].

is the core driver of this limit-up. People.cn has been categorized by the market as a “AI Agent + SOE Reform + Content Risk Control” concept stock, and was added to the “AI Application” concept on January 14, 2026 [1]. The company disclosed its core products on the Hudongyi Platform (investor interactive platform) including: “People’s Proofreading” Intelligent Risk Control Platform, which uses deep learning technology for real-time semantic analysis and risk assessment of content involving politics, providing multi-scenario capabilities such as text proofreading, image proofreading, video proofreading, and content inspection [1]; “Tianmu” Deep Synthesis Detection Tool, used to identify AI-generated false content, with the ability to recognize multi-modal content including generated text, images, videos, and audio [1]; and AI Writing Secretary and other products, building a “govern AI with AI” model [1]. In addition, the People’s Smart Media Large Model integrates three engines: search, knowledge base, and intelligent agent, covering applications in media, party and government, education, culture and tourism, and other fields [2].

provide a macro background for conceptual speculation. In early 2026, multiple ministries intensively deployed work related to intelligent agents: the National Work Conference on Industry and Information Technology proposed to promote the “Artificial Intelligence + Manufacturing” special action and cultivate a number of key industry intelligent agents; the National Data Administration announced that it will lay out data standards in frontier directions such as intelligent agents and embodied intelligence in 2026 [3]. The industry predicts that by the end of the 15th Five-Year Plan period, the penetration rate of applications such as new-generation intelligent terminals and intelligent agents will exceed 90% [3].

Despite the strong stock price performance, the company’s fundamentals have shown a significant downward trend. In the first three quarters of 2025, it achieved operating revenue of RMB 1.138 billion, a year-on-year decrease of 3.29%; net profit was RMB 33.6422 million, a sharp year-on-year decline of 40.10% [4]. More importantly, the company issued a stock trading risk warning announcement on January 15, 2026, clearly stating that it

[4][5], directly responding to the market’s hype rumors.

From a valuation perspective, the current rolling P/E ratio is as high as 165.99x, while the industry average is only 44.92x, with a valuation deviation of 3.7x [4]. This valuation level is obviously detached from fundamental support, belonging to typical characteristics of theme stock bubbles. The sector performance also confirms the nature of independent speculation — the Communications Services sector fell 0.43% today, while People.cn rose to the daily limit against the trend, which is a typical independent market [0].

Technical indicators show that the stock has entered a

. In the KDJ indicator, the K value reaches 97.6, D value 93.1, J value 106.5, all in extreme overbought states [0]. RSI (14) is also in the overbought zone, sending a clear risk warning signal [0]. From the moving average system, the current price deviates from the 20-day moving average (RMB 20.73) by about 49%, with a strong demand for regression [0]. In terms of key price levels: the resistance level is RMB 30.83 (today’s limit-up price), the next target level is RMB 31.76, and the support level is RMB 22.69 [0].

Capital flow shows typical characteristics of hot money speculation. Today’s trading volume is 15 times the daily average, and the turnover rate surged from 1.77% to 9.92%, indicating a large influx of short-term funds and rapid turnover of chips [0][4]. The combination of high turnover + consecutive limit-ups + conceptual speculation indicates that this is a typical hot money relay market, with low participation from rational institutional investors.

is extremely prominent. The P/E ratio of 165.99x is 3.7 times the industry average, while the company’s performance is declining, and the fundamentals cannot support the current stock price [4].

. Both regulators and the company are warning of risks. The company clearly stated that it is not involved in GEO business, which is unrelated to the market’s hot concept [4][5].

. The stock has triggered the abnormal trading fluctuation standard (cumulative increase deviation exceeds 20%), attracting increased regulatory attention [4].

. Both KDJ and RSI show extreme overbought conditions, with huge short-term profit-taking pressure [0].

Scenario	Probability	Trigger Conditions	Trend Forecast
Continue to hit limit-up	Low	Extremely bullish market sentiment + continuous capital relay	If sentiment is frenzied, it may hit 4 consecutive limit-ups, but the probability is low
High-level consolidation	Medium	Maintain high turnover + capital game	May consolidate at high levels to unload shares, but chasing up is not recommended
Sharp correction	High	Cooling sentiment + capital outflow	With excessive short-term gains + extremely high valuation, the probability of correction is the highest

: People.cn’s current limit-up belongs to a . Although it has caught up with the “AI Agent + Content Risk Control” concept, the company’s performance is declining, valuation is too high, and the company has clearly clarified that it is not involved in GEO business. Technical indicators show severe overbought conditions, and the risk of correction is extremely high. It is recommended that investors remain cautious and refrain from chasing up; holders should consider reducing positions to lock in profits.

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• Limit-Up Reasons
  : Conceptual hotspots (AI Agent + Content Risk Control) + Policy tailwinds + Hot money speculation
• Current Price
  : RMB 30.83 (P/E ratio 165.99x, industry average 44.92x)
• Trading Status
  : 3 consecutive limit-ups, trading volume 15x the daily average, turnover rate 9.92%
• Fundamentals
  : Net profit in the first three quarters of 2025 fell 40.10% year-on-year
• Risk Warning
  : The company issued a risk warning announcement, clearly stating no involvement in GEO business
• Technical Status
  : Severe overbought (KDJ J-value 106.5), prominent correction risk

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[1] Eastmoney.com - People.cn Added to AI Application Concept
[2] People.cn - Discuss Strategies for Systematic Transformation, Draw a New Blueprint for Media Convergence Development
[3] Securities Times - Accelerating Industrial Layout of Intelligent Agents in Key Areas
[4] Sina Finance - People.cn Stock Trading Risk Warning Announcement
[5] China Finance Information Network - People.cn Co., Ltd. Stock Trading Risk Warning Announcement
[6] Caifuhao/Dabanke - Limit-Up Stock Formation Chart