Analysis of Luokai Co., Ltd. (603829) Continuous Limit-Up: Dual Impact of New Energy Breakthroughs and Capital Drivers

Luokai Co., Ltd. (603829) is a power equipment enterprise focusing on key components of high and low voltage circuit breakers and intelligent ring main unit business [0]. From November 17 to 18, 2025, the company’s stock price rose by the daily limit consecutively, with a two-day gain of 21.03%, closing at 24.17 yuan on November 18 [0]. Its strong performance mainly comes from three aspects: 1) New energy business breakthrough: The company has made important progress in the new energy field, and its circuit breaker switch equipment business has benefited from industry growth [0][5]; 2) Convertible bond redemption driver: Luokai Convertible Bond was redeemed upon maturity on November 17, strengthening capital inflows [0][5]; 3) Hot money participation: The company was listed on the Dragon and Tiger List due to a daily gain deviation of 7%, with well-known hot money seats such as Yishun Liuguang participating in transactions [0][2][3][4].

Cross-domain correlation shows that Luokai Co., Ltd.'s rise aligns with policy support and market enthusiasm in the new energy power equipment industry [0][1]. The convertible bond redemption event not only optimized the company’s financial structure (total liabilities of 65.1759 million yuan, improved debt structure [0]) but also injected liquidity into the secondary market. Dragon and Tiger List data indicates that short-term funds have increased attention to new energy concept stocks, and high hot money participation may imply increased short-term volatility [2][3][4].

: As a new energy power equipment concept stock, the company is expected to continue benefiting from the development of the new energy industry and policy dividends [0][1]. : The short-term gain is relatively large, and the market dominated by hot money may bring volatility risks [0][2]; further verification is needed on the specific scale of the new energy business breakthrough and its actual contribution to performance [0].

Luokai Co., Ltd.'s recent strong performance is the result of the combined effect of new energy business progress, convertible bond redemption, and market funds. Investors should pay attention to the subsequent implementation of the company’s new energy business, changes in financial data, and capital flows from the Dragon and Tiger List to evaluate the sustainability of the market trend [0][1][5].