Analysis of the Reasons for Garong Technology (301148) Limit-Up and Its Market Impact

Garong Technology (301148) sealed a 20cm limit-up at the opening on December 1, 2025, entering the limit-up pool [2]. The core catalyst is the major asset restructuring announcement released by the company on the evening of November 30: it plans to acquire 100% of the shares of Hangzhou Lanran Technology Co., Ltd. by issuing shares and paying cash, and raise supporting funds of no more than 1 billion yuan [1][2]. Hangzhou Lanran is a leader in China’s bipolar membrane sector, with business covering hot tracks such as new energy lithium batteries and carbon capture [1]. It forms business synergy with Garong Technology’s membrane separation technology, helping to build a full-stack solution for membrane technology [1].

This limit-up reflects the market’s strong recognition of the collaborative model of “environmental protection technology + hot tracks”. Hangzhou Lanran’s technical accumulation in ion exchange membranes and electrodialysis complements Garong Technology’s high-difficulty sewage treatment business, expanding the company’s layout in policy-supported fields such as new energy and carbon capture [1]. The trend of sealing the limit-up at the opening reflects the market’s strong expectation of long-term value improvement brought by asset restructuring, with consistent positive sentiment among institutions and retail investors [2].

: If the asset restructuring is successfully completed, the company will become an integrated solution provider in the membrane technology field, covering high-growth tracks such as environmental protection, new energy, and carbon capture, with broad long-term development space [1]. : The asset restructuring needs to go through procedures such as shareholder meetings and regulatory approval, with uncertainties [1]; after the limit-up, short-term valuation has risen rapidly, with a risk of correction; the integration of technology and management between the two companies takes time, and there are variables in whether synergy effects can be achieved [2]; fluctuations in the broader market or sectors may also affect short-term trends [2].

Garong Technology’s limit-up is driven by the catalyst of major asset restructuring, with positive market sentiment. Follow-up attention should be paid to the strength of limit-up orders, progress of asset restructuring, regulatory approval status, and changes in market sentiment. Investors should note factors such as asset restructuring uncertainty, short-term valuation pressure, and integration risks [1][2].