Analysis Report on the Strong Performance of Jiayuan Technology (688388)

Jiayuan Technology (688388) entered the strong stock pool mainly driven by the industry catalyst of rising copper prices:

• Copper prices have continued to rise recently, reaching $5.6235 per pound as of December 23, an increase of about 3.5% from the beginning of the month [2][3][4]
• Institutions like Goldman Sachs predict that copper prices will further rise to an average of $11,400 per ton in 2026, with the core logic being growing demand for electrification (new energy vehicles, grid infrastructure) and supply constraints (slow growth in global copper mine supply) [1]
• As a listed company in the copper industry, the company directly benefits from the rise in copper prices, driving the stock price to strengthen

• Price performance: On December 24, 2025, it rose by 10.54% in a single day, 21.48% in 5 days, and 202.03% annually. Trading volume increased by about 70% compared to the 5-day average, and market participation increased significantly [0]
• Trend signal: A buy signal was issued on December 22, and it is currently in an upward trend (to be confirmed) [0]
• Key price levels: Support level at $36.99, resistance level at $43.75, next target level at $45.82 [0]

• Profitability: Net profit margin is -0.62%, ROE is -0.78%, with continuous losses [0]
• Valuation level: P/E is -337.80 times, P/B is 2.61 times, with high valuation [0]
• Core issue: The profit level does not match the valuation, and the fundamentals lack effective support for the continuous rise of the stock price

• Industry linkage
  : The rise in copper prices has driven the entire basic materials sector to strengthen, and the stock price performance of Jiayuan Technology is highly correlated with the trend of copper prices
• Market sentiment-driven
  : The increase in trading volume, institutional attention, and other positive market sentiments have intensified the short-term rise in stock prices, but there is a lack of sustained fundamental support
• Technical indicator warning
  : The RSI indicator shows overbought risks, and short-term correction pressure needs to be vigilant [0]

1. Weak fundamentals risk
   : If the continuous loss state is not improved, it will restrict the long-term stock price performance [0]
2. Overvaluation risk
   : Negative P/E multiple reflects that the current stock price lacks profit support, and the risk of valuation bubble is rising [0]
3. Copper price fluctuation risk
   : If copper prices correct, the company’s stock price will be directly affected [1]
4. Overbought correction risk
   : Technical indicators show overbought, and short-term stock prices may correct [0]

1. Opportunity from continuous rise in copper prices
   : If copper prices continue to rise as predicted by institutions in 2026, the company’s stock price still has short-term upside potential [1]
2. Industry development opportunity
   : The growth in electrification demand is beneficial to the copper industry in the long term, and the company can benefit from the long-term development of the industry [1]

• Jiayuan Technology (688388)'s recent strong performance is mainly driven by the rise in copper prices, and the technical side is in an upward trend
• Fundamentals have continuous losses and high valuation, lacking long-term support basis
• Need to pay attention to copper price trends, the company’s profit improvement, and changes in technical indicators
• Need to be vigilant about overbought correction risks in the short term, and pay attention to the progress of the company’s fundamental improvement in the long term