Analysis of the Reasons for Holike (603898) Continuous Limit-Up and Its Market Impact

This analysis is based on data from the tushare_strong_pool strong stock pool [0] and external market reports [4-9]. Holike (603898) had a cumulative deviation from the daily price limit of over 20% for three consecutive trading days from November 19 to 21, 2025 [0],[3]. On November 21, the closing price was 15.37 yuan, with an increase of 10.02%, achieving two consecutive limit-up days [0],[9]. The core reasons include corporate governance optimization, business structure adjustment, capital-side promotion, and rising market sentiment [4],[7].

1. Corporate Level
   : Governance structure optimization is significant: the company revised its articles of association and more than 20 internal systems, abolished the supervisory board and established an audit committee instead [0],[7]; bulk business revenue increased by 41.08% year-on-year, and the effect of engineering channel optimization is obvious [0].
2. Capital Level
   : On November 21, the main capital net bought 10.291 million yuan, accounting for 2.54% of the total turnover [6]; the Dragon and Tiger List showed that the hot money “Chao Gu Yang Jia” was on the list [5], and hot money activity increased [0].
3. Market Level
   : The smart home + custom home concept is sought after by the market, and the sector rotation effect is obvious [4],[7]; the company announced that production and operation are normal, and there are no major matters that should be disclosed but not disclosed [8].

• Governance optimization and business improvement resonate, enhancing market confidence [0],[7];
• High participation of hot money may intensify short-term stock price volatility [5];
• The popularity of the sector concept provides support for the stock price rise [4],[7].

• Risks
  : Excessive short-term gains may trigger a correction; hot money inflows and outflows lead to stock price fluctuations [0],[5]; need to pay attention to whether subsequent company performance can support the stock price [8].
• Opportunities
  : Governance optimization and business structure adjustment may bring long-term development potential [0],[7]; the continuous rise in popularity of the smart home sector may bring sectoral opportunities [4].

Holike (603898)'s recent consecutive limit-up is the result of multiple factors, including internal governance optimization, business growth, capital promotion, and market sentiment. Investors should view short-term gains rationally and pay attention to the company’s long-term development and sector trends [0],[8].