Analysis of Short-Term Strong Performance of Xiagong Co., Ltd. (600815): Concept-Driven vs. Fundamental Divergence

Xiagong Co., Ltd. (600815) has shown strong stock price performance recently. On November 17, it closed at 4.58 yuan, with a daily increase of 10.10% and a turnover rate of 9.23%. It had 5 daily limit-ups in 10 trading days, a cumulative increase of 23.45% from November 13 to 17, and a turnover of 2.801 billion yuan [0]. The stock was listed on the Dragon and Tiger List due to abnormal price increases [1] and issued an announcement on abnormal stock trading fluctuations [4].

:

1. Fujian State-Owned Assets Concept
   : As a local state-owned enterprise in Fujian, it benefited from the overall activity of the Fujian sector. On November 17, the Fujian State-Owned Assets Concept Index rose sharply by 3.09% [0].
2. Huawei Computing Power Concept
   : The Huawei Computing Power sector surged abnormally on November 17, driving up related concept stocks [2][6].

: On November 17, the main funds had a net purchase of 122 million yuan, accounting for 16.43% of the day’s turnover [5], indicating obvious short-term capital driving.

: The company’s net profit from January to September 2025 was -6.2852 million yuan, a year-on-year decrease of 183.68%; non-recurring net profit was -47.6713 million yuan [0], showing a deterioration in performance and a significant divergence from the stock price trend.

1. Concept Overlay Effect
   : Xiagong Co., Ltd. benefited from both the Fujian State-Owned Assets and Huawei Computing Power hot concepts, forming an overlay effect that amplified the stock price increase [0][2].
2. Fundamental vs. Valuation Divergence
   : Although the stock price soared in the short term, the company’s third-quarter report performance was poor, lacking fundamental support, which is a typical concept speculation market [0][4].
3. Short-Term Capital Game
   : High turnover rate and net purchases by main funds indicate intense short-term capital games, with high risks of stock price fluctuations [0][5].

:

• Deteriorating Fundamentals
  : The company’s net profit fell sharply year-on-year, and non-recurring net profit was negative, so its long-term investment value is questionable [0].
• Regulatory Risk
  : Having been listed on the Dragon and Tiger List and issuing an announcement due to abnormal price fluctuations, it may face regulatory attention in the future [1][4].
• High Volatility
  : The short-term increase is too large, and changes in market sentiment may lead to a rapid correction in stock prices [0][2].

:

• Short-Term Trading Window
  : If the hot concepts continue to ferment, there may be short-term trading opportunities, but risks need to be strictly controlled [0][6].

: This analysis shows that the short-term performance of this stock is mainly concept-driven and lacks fundamental support. Investors should treat it cautiously and avoid blind chasing of high prices.

Xiagong Co., Ltd. (600815) recent strong performance is mainly driven by the Fujian State-Owned Assets and Huawei Computing Power concepts, with obvious short-term capital promotion. However, the company’s fundamentals have deteriorated, with net profit falling sharply year-on-year, and there is a significant divergence between the stock price trend and fundamentals. Investors need to pay attention to regulatory developments and changes in market sentiment, and rationally evaluate investment risks.