Analysis of Hanshuo Technology (301275)'s Strong Performance: Rally Driven by International Partnerships, Caution on Short-Term Overbought Risks

[1]. On January 5, 2026, Hanshuo Technology signed a letter of intent for the sale of smart shopping carts and cameras with Australian retail giant Woolworths, with an initial delivery of 10,800 sets of smart shopping cart systems. This marks a major breakthrough for the company’s smart shopping cart business from proof of concept to large-scale shipment. As a benchmark among the world’s top 100 retail enterprises, Woolworths provides strong endorsement for the company’s overseas market expansion.

[1]. On January 12, 2026, the two parties announced the co-construction of a new foundation for digital twin stores, exploring the next-generation digital twin store framework. This means Hanshuo Technology has been recognized by an international tech giant in cutting-edge fields such as AI and cloud computing, which helps enhance the company’s technological barriers and market competitiveness.

[1]. As of January 6, 2026, the company has cumulatively repurchased 1.2 million shares, costing approximately RMB 63.95 million. The repurchased shares will be used for employee stock ownership plans or equity incentives. This action demonstrates the management’s firm confidence in the company’s long-term development.

[0]. In the KDJ indicator, the J-value reaches 90.5, K-value 82.3, D-value 78.2, all in the overbought zone; the 14-day RSI is also in the overbought risk zone. Although the MACD has not yet shown a death cross signal, short-term pullback risks cannot be ignored.

[0]. The current share price of ¥78.99 deviates by approximately 40% from the 20-day moving average of ¥56.58, and the 52-week trading range is ¥45.38 to ¥86.96, with the share price approaching the upper edge of the range. The intraday amplitude is as high as 53.7% (¥54.44 to ¥83.68), showing sharp fluctuations. The cumulative increase in the past 32 trading days reaches 44.94%, with strong upward momentum but obvious risk accumulation.

[0]. The daily trading volume was RMB 1.007 billion, 7.4 times the average (approximately RMB 136 million); the main capital net inflow over 5 days was RMB 244 million, and on January 14, the main capital net purchase was RMB 124 million, accounting for 15.06% of the day’s trading volume. The margin trading balance reached RMB 219 million, with active participation from leveraged funds.

. On the positive side, the company was awarded “Annual Influential GEM Technology Company” at the Sina 2025 Technology Leaders List, and Western Securities maintained a “Buy” rating, optimistic about its breakthroughs in AI + retail digitalization scenarios[1]. However, the net profit in Q1 2025 is expected to decrease by 17%-35% year-on-year, with obvious performance pressure[3]. In addition, fluctuations in the euro exchange rate have a significant impact on the company’s overseas business profits, requiring continuous attention to exchange rate risk management.

[0]. The current price-to-earnings ratio is 63.7 times, significantly higher than the average level of the software application industry. In the current market environment, high valuation means the share price needs continuous performance realization for support.

[1]. The company has released a stock trading abnormal volatility announcement, with the cumulative closing price increase deviation exceeding 30% in 2 consecutive trading days, which may trigger regulatory inquiries or suspension and verification procedures. This signal deserves high attention.

: Technical pullback demand caused by severely overbought technical indicators; possible shift in market sentiment after the abnormal volatility announcement; valuation at a historical high; and the risk of “buy the rumor, sell the fact” after the release of major positive news.

: The actual execution of the Woolworths order and the possibility of subsequent cooperation expansion; the implementation progress of the cooperation with Microsoft; and the timing of the inflection point for performance improvement.

: This rally is not an isolated event, but a microcosm of the overall strength of the SaaS sector. Hanshuo Technology and peers such as Yonyou Network hit the daily limit simultaneously, reflecting the market’s high recognition of the AI + retail digitalization track[2]. This sector effect is expected to continue in the short term, but caution is needed on overall pullback risks.

: While the main capital net purchased RMB 124 million on January 14, the extra-large order net purchase was only RMB 34.86 million, indicating that large-capital participation is relatively cautious, while retail investors and leveraged funds may be the main forces driving the recent rally. This capital structure often means the sustainability of the rally is questionable.

: From the signing with Woolworths on January 5 to the cumulative share price increase of approximately 50% by January 16, the gain was achieved in just 11 trading days, and the speed is worthy of caution. Major positive news usually takes time to translate into actual performance, and the short-term share price increase has significantly overdrawn expectations.

Risk Type	Risk Level	Description
Short-term Pullback Risk	🔴 High	Severe overbought technical indicators with J-value at 90.5, high pullback probability
Regulatory Risk	🔴 High	May face suspension and verification after the abnormal volatility announcement
Valuation Risk	🟡 Medium-High	P/E ratio of 63.7x, significantly higher than the industry average
Performance Risk	🟡 Medium	Q1 net profit is expected to decrease by 17%-35% year-on-year

depend on the effective realization of the following factors: Sustainability of orders brought by cooperation with international retail giants; commercialization of the collaboration with Microsoft; continuation of the high prosperity of the AI + retail digitalization track; and consolidation of the company’s competitive advantages in the domestic retail digitalization market.

lie in the continuation of the sector effect and the promotion of new capital inflows, but it is premised on the full release of the aforementioned risks.

Hanshuo Technology’s recent strong rally is jointly driven by multiple factors including breakthroughs in international business (cooperation with Woolworths), deepened technical cooperation (with Microsoft), share repurchases, and industry recognition. Technically, the stock shows obvious overbought signals, with surging trading volume indicating fierce capital game. It faces short-term technical pullback and regulatory risks, while the medium-term trend depends on verifying order execution and performance improvement. The current valuation is at a historical high; investors should pay attention to the balance of risk and return, and closely track subsequent order announcements and financial report data.