Analysis of the Short-Term Strong Performance vs. Fundamental Divergence of Shipu Testing (301228)

Shipu Testing (301228) has shown significant short-term price strength recently. From November 13 to 17, 2025, the cumulative deviation value of the closing price increase over three consecutive trading days exceeded 30% [2][3]. Among them, the single-day gain on November 17 reached 12.78%, with a closing price of 38.57 yuan and a simultaneous increase in trading volume [5]. Leveraged funds have actively increased positions in this stock, with the financing balance increasing by 15.08%, which stands out among GEM stocks [1]. Dragon and Tiger List data shows that institutional funds had a net buy on that day, reflecting positive short-term market sentiment [4].

However, the company’s fundamental performance is weak: In the first three quarters of 2025, operating revenue was 252 million yuan, a year-on-year decrease of 17.87%; net profit was a loss of 39.7865 million yuan [0]. Long-term institutional confidence is insufficient, and the institutional shareholding ratio decreased in the third quarter [0]. This divergence between short-term price increases and fundamental deterioration is worthy of attention.

Short-term price increases are mainly driven by leveraged funds and short-term institutional trading behavior, rather than fundamental improvement. This divergence between price and fundamentals may lead to the risk of future price corrections.

: Weak fundamentals may trigger price corrections; rapid inflows and outflows of leveraged funds increase stock price volatility.
: Short-term trading opportunities exist, but the risk of reversal needs to be watched.

Shipu Testing’s short-term strong performance lacks fundamental support. Investors should pay attention to the divergence between price and fundamentals; short-term traders need to control risks, and long-term investors need to pay attention to signals of the company’s fundamental improvement.