Jiujiuwang (01927.HK) Hong Kong Stock Market Hot Stock Trend and Risk Analysis

Jiujiuwang (01927.HK) is a Hong Kong-listed candy and chocolate manufacturer. On December 3, 2025, it appeared on the East Money App Hong Kong Stock Surge List due to a 5.47% rise the previous day [0]. However, this rise lacks a clear catalyst at the business or financial level. The company only released a regular monthly report on securities changes recently, without mentioning any major events [4]. In terms of price trend, the stock price broke through the HK$0.12-HK$0.13 oscillation range to HK$0.14 on December 2, then fell back 5.185% to HK$0.128 the next day [1]. Although the trading volume increased by 44.5% from the 10-day average (225,000 shares) to 340,000 shares, it still maintained a low liquidity level overall. On December 3, the trading volume further dropped to 190,000 shares, indicating that the trend may be driven by a small number of funds [0][1]. Technically, both “range breakout” and “death cross” signals appeared, so the reference value is limited [1].

1. Obvious speculative-driven characteristics
   : Without clear fundamental support, the main driving forces for the rise are increased attention from retail investors and short-term momentum [0].
2. Low liquidity amplifies volatility
   : The average daily trading volume is only about 225,000 shares, so large-scale transactions can easily trigger sharp fluctuations in stock prices [0].
3. Fundamentals deviate from the trend
   : The company recorded a net loss of RMB 3.623 million in 2024, and its first-half 2025 profit fell by 47.8% year-on-year, with revenue declining continuously [5][6].

• Fundamental risk
  : Weak profitability, continuous revenue decline, and no dividends for consecutive years [5][6].
• Liquidity risk
  : Low trading volume leads to stock prices being easily affected by a small number of funds, resulting in insufficient liquidity [0].
• Speculative risk
  : No clear catalyst for the rise, the sustainability of the trend is questionable, and it may be short-term speculation [0].

• If the company improves its profitability or launches major business initiatives in the future, there may be a valuation repair opportunity, but there is no clear signal currently.

Jiujiuwang (01927.HK) made it to the hot list this time due to a short-term speculative trend, lacking fundamental support. The company has weak fundamentals and insufficient liquidity; investors need to pay attention to the HK$0.12 support level and HK$0.14 resistance level. This report is an objective analysis and does not constitute investment advice.