Analysis of the Limit-Up Performance of Junya Technology (603386)

1. Reasons for the Limit-Up
   : Junya Technology’s limit-up today was mainly driven by the
   collective surge in the humanoid robot track
   . Events such as Tesla Optimus releasing a running video, domestic Zhongqing/Atom Robot launching new products, and Kaiyuan Securities’ research report pointing out that 2026 is the first year of mass production for domestic humanoid robots [2][4] triggered a sentiment climax in the sector. However, the company clearly clarified that the revenue share of PCB products used in humanoid robots is less than 0.05%, which has no significant impact on performance [5]; the limit-up is more of a spillover effect of sector sentiment.

2. Technical Analysis
   : In terms of price, it closed at the limit-up (+10.03%) on the day [0], with a 5-day gain of 22.89% and a 1-month gain of 17.91% [0]; the trading volume was 9.11M, higher than the 23-day average of 5.69M [0]; it sealed the limit-up at the opening, showing strong buying power but suppressed trading willingness after the limit-up. Technically, the price has broken through the 20-day moving average ($12.69) and is currently close to the 52-week high ($16.50) [0], showing a short-term uptrend.

3. Fundamental Support
   : The company’s fundamentals are weak: P/E ratio of -42.03x, ROE of -8.65%, net profit margin of -4.68%, indicating a loss-making state [0]; current ratio of 0.69 and quick ratio of 0.49, far below the safe level, with high short-term debt repayment pressure [0]. The contribution of humanoid robot-related businesses is negligible, with no substantial fundamental support.

• Sector sentiment-driven is the core reason: The limit-up is not based on the company’s own value enhancement but the collective speculation effect of the humanoid robot sector.
• Risk and gain mismatch: Short-term sharp rise (5-day +22.89%) but fundamental losses and insufficient liquidity, leading to high speculative risks.
• Potential impact of clarification announcement: The company has clearly stated that the business relevance is extremely low, which may lead to a rapid cooling of market sentiment.

1. Fundamental risk
   : Loss-making state and low liquidity indicators show that the company is under great operational pressure [0].
2. Hotspot correlation risk
   : The contribution of humanoid robot business is negligible, and it may face a correction after the sector sentiment recedes [5].
3. Technical risk
   : Close to the 52-week high, with great pressure from resistance levels [0].

In the short term, there are no obvious fundamental-based opportunities; mainly speculative opportunities brought by sector sentiment, but risks need to be vigilant.

Junya Technology (603386)'s limit-up on December 4, 2025, was driven by sentiment in the humanoid robot sector, with extremely low own business relevance and no substantial fundamental support; technically, it shows a short-term uptrend but is close to resistance levels; fundamentally, it faces losses and liquidity risks; the company’s clarification announcement may trigger a cooling of sentiment, and there is insufficient momentum for sustained growth.