Hexafluoride China (603122.SH) Popularity Reason Analysis: Concept Speculation and Fundamental Divergence

Hexafluoride China (603122.SH) is a medical technology enterprise focusing on intensive sales of in vitro diagnostic (IVD) products and supply chain management services, while also laying out R&D of AI-assisted diagnosis and treatment systems [0]. Recently, this stock has become a market hot topic, mainly driven by concept speculation triggered by being classified as a ‘People’s Better Life’ concept stock [4]. Data shows that since October 28, 2025, the company’s stock price has gained 12 limit-up days in 14 days, with a cumulative increase of 256.29%, and the maximum increase since October has reached 297.22% [0][1]. However, the stock price performance seriously deviates from fundamentals: the company’s net profit in Q3 2025 was -5.048 million yuan, with a cumulative loss of 5.048 million yuan in the first three quarters [0][5], and its P/E ratio is as high as 290.10 times, far exceeding the industry average of 30.52 times [0]. At the regulatory level, the Shanghai Stock Exchange has placed this stock under key monitoring, and the company has issued multiple risk warnings, but the stock price continues to hit limit-up [3][5].

1. Concept and fundamentals disconnection
   : The ‘People’s Better Life’ concept has weak relevance to the company’s actual business, and the stock price rise lacks fundamental support [4][5].
2. Increasing regulatory pressure
   : The company has been suspended for verification due to abnormal stock price fluctuations [1], and the Shanghai Stock Exchange continues to monitor it closely, which may face stricter regulatory measures in the future [3].
3. Speculative trading dominates
   : Participation of short-term speculative funds (such as limit-up traders) has intensified stock price volatility [7].

1. Regulatory risk
   : The Shanghai Stock Exchange has placed this stock under key monitoring, and further measures (such as suspension for verification) may be taken in the future [1][3].
2. Price correction risk
   : The stock price seriously deviates from fundamentals, and there is a possibility of a sharp correction [0][5].
3. Fundamental risk
   : The company’s net profit in the first three quarters of 2025 was negative, and its operating performance is under pressure [0].

Short-term speculative opportunities may exist in continuous concept speculation, but long-term investment value is limited and should be treated with caution [0][7].

Hexafluoride China’s recent popular performance is mainly due to concept speculation, not fundamental improvement. Investors should pay attention to the divergence risk between stock price and fundamentals, as well as changes in regulatory policies. This analysis does not provide any investment advice and is for decision-making reference only [0][5].