Analysis of Guangbai Co., Ltd. (002187) Staying at the Daily Limit for Two Consecutive Days: Reasons and Market Impact

This report is based on Radar Finance reports [1], analyzing the reasons and market impact of Guangbai Co., Ltd. (002187) staying at the daily limit for two consecutive days on November 26-27, 2025. As a department store retail enterprise controlled by the Guangzhou State-owned Assets Supervision and Administration Commission, this stock price fluctuation triggered an abnormal fluctuation announcement with a deviation of more than 20% [4]. Although it reported losses in the first three quarters [5], its digital intelligence transformation and new business format layout (duty-free shops, blind box economy) [5] combined with the concept of state-owned enterprise reform [1] have attracted the attention of market funds.

The core reasons for Guangbai Co., Ltd. (002187) staying at the daily limit consecutively include: 1) Stock price fluctuation triggering market attention [1]; 2) Endorsement of state-owned enterprise reform concept [1]; 3) Consumption recovery expectation for the retail sector [6,7]; 4) New business format layout (duty-free, blind box) [5]. The actual controller of the company is the Guangzhou State-owned Assets Supervision and Administration Commission [5], which is promoting digital intelligence transformation to adapt to market changes [5]. In the first three quarters of 2025, the revenue was 2.787 billion yuan (down 31.60% year-on-year) and the net profit loss was 30.9974 million yuan [5]. The fundamentals are weak but the market sentiment is obviously driven by concepts [2,3].

1. Concept-driven mainly
   : The stock price rise stems from concepts such as state-owned enterprise reform and new retail, not from fundamental improvement [1,5].
2. Market sentiment fluctuation
   : Consecutive daily limits reflect short-term funds’ attention to the rotation of the retail sector [2,3], which is related to consumption recovery expectations [6,7].
3. Transformation pressure
   : New business format layout is difficult to reverse the downward trend of performance in the short term [5].

1. Fundamental risk
   : Losses in the first three quarters and declining revenue, with worrying profitability [5].
2. Pullback risk
   : Concept-driven rise lacks performance support and is prone to sharp pullbacks [2,3].
3. Industry competition
   : The department store retail industry is highly competitive, and the effect of transformation remains to be verified [6,7].

1. State-owned enterprise reform dividend
   : The background of Guangzhou State-owned Assets Supervision and Administration Commission may bring resource inclination [1,5].
2. Potential of new business formats
   : If duty-free shops and blind box economy succeed, they are expected to open up growth space [5].

Guangbai Co., Ltd. (002187) consecutive daily limits this time are the result of market sentiment and concept-driven. The fundamentals have not yet improved. Investors need to pay attention to transformation progress and performance changes, and be alert to short-term fluctuation risks. The state-owned enterprise background and new business format layout provide long-term potential opportunities, but short-term stock price fluctuations need to be treated with caution.