Dazhong Public Utilities (01635.HK) Moore Threads Concept Speculation Analysis: Balancing Short-Term Gains and Long-Term Risks

On November 25, 2025, Dazhong Public Utilities’ A-shares (Shanghai Stock Exchange) hit the daily limit, with a turnover of 1.254 billion yuan, driving its Hong Kong-listed shares (01635.HK) to surge over 8% simultaneously [0]. The core driving factor is that the market associates it with the AI chip concept of domestic GPU company Moore Threads, and the sentiment of capital chasing concept stocks has transmitted to Hong Kong stocks [2].

Dazhong Public Utilities’ core businesses cover urban gas supply, public transportation operation, infrastructure environmental protection, and financial investment [0]. After verification, the company has no direct shareholder relationship or business cooperation with Moore Threads; this rise is mainly due to market concept speculation and lacks substantial business support [0].

The A-shares had a turnover of 1.254 billion yuan on that day, indicating high capital activity; the Hong Kong-listed shares (01635.HK) followed the rise but with relatively smaller turnover [1]. Before the daily limit, the company’s A-share market capitalization was in the range of 20-30 billion yuan, and its valuation fluctuated sharply with stock prices [0].

1. Concept Speculation Risk
   : Without fundamental support, the stock price may correct rapidly as the concept cools down [0].
2. Regulatory Policy Risk
   : A-share supervision on concept stock speculation is becoming stricter; need to be alert to inquiries from the exchange [0].
3. Fundamental Return Risk
   : The company’s traditional business growth is stable; long-term valuation needs to return to the profitability of its main business [0].

In the short term, it may continue to be affected by the sentiment of the AI concept sector, with high volatility; long-term investment value needs to focus on gas business expansion, progress of environmental protection projects, and financial investment returns, rather than theme speculation [0].