Analysis of the 20% Limit-Up of Okayee (688308): Resonance of Better-Than-Expected Performance and Concept Popularity

Okayee (688308) performed strongly on the STAR Market on January 19, 2026, with its stock price hitting the 20% limit-up and entering the strong stock pool [1][2][3]. The closing price on that day was RMB 39.78, up RMB 6.63 from the previous trading day, representing a 20.00% increase. The turnover was RMB 285 million, the turnover rate was 4.66%, and the total market capitalization was approximately RMB 6.32 billion [1][2].

The company released its 2025 annual performance forecast on the evening of January 18, showing strong growth momentum. The expected net profit attributable to shareholders is RMB 96 million to RMB 110 million, representing a year-on-year increase of 67.53% to 91.96%; the expected net profit attributable to shareholders after deducting non-recurring gains and losses is RMB 62 million to RMB 75 million, a substantial year-on-year increase of 135.83% to 185.28% [1][2]. The growth rate of net profit attributable to shareholders after deducting non-recurring gains and losses is significantly higher than that of net profit attributable to shareholders, indicating that the improvement of the main business is more solid and reliable.

The company’s core management, including the deputy general manager, simultaneously released an announcement of a share purchase plan, expressing confidence in the company’s future development with real capital [1]. Such management share purchase actions are usually interpreted by the market as positive signals, which help stabilize investor expectations.

On that day, the commercial aerospace sector opened low and moved higher, and Okayee, as a member of the sector, benefited from the concept’s popularity [3]. On the news front, on January 18, the test capsule of the “Transcender-1” manned spacecraft independently developed by Beijing Transcender Manned Space Technology Co., Ltd. successfully completed the comprehensive verification test of the landing buffer system, driving the entire commercial aerospace sector higher. The company has made product reserves for the aerospace field, including high-end products such as turning inserts for high-temperature alloy processing and solid carbide diamond-coated drills [2].

The driving factors for performance growth are multi-dimensional [1][2]: On the demand side, it benefits from the accelerated transformation and upgrading of the manufacturing industry, and the rapid development of high-end manufacturing drives the continuous rise in demand for the CNC tool market; on the price side, due to the sharp rise in the prices of raw materials tungsten carbide and cobalt powder, the company’s products have been raised in price simultaneously to pass on cost pressure; on the production capacity side, the CNC insert project has completed product structure upgrading, and the capacity utilization rate has increased significantly in the second half of the year; in terms of scale effects, the production capacity release speed of the CNC tool industrial park project is higher than expected.

From a technical perspective, the stock price broke through the recent consolidation range by hitting the limit-up, and the trading volume expanded to 74,000 lots to support the limit-up trend, which is a healthy rising pattern with matching volume and price [1][2]. Under the 20% price limit of the STAR Market, the single-day increase is strong, indicating that the bullish force is dominant. Key price references: the limit-up price of RMB 39.78 is the day’s price, the RMB 34-35 range is the upper support of the previous consolidation platform, and the RMB 40-42 range is the resistance level formed by the historical dense chip area.

From the perspective of growth, the company achieved high-speed performance growth in 2025, and the growth rate of net profit attributable to shareholders after deducting non-recurring gains and losses is significantly higher than that of net profit attributable to shareholders, indicating that the improvement of the main business is more solid [1][2]. The industry it belongs to is in line with the national manufacturing upgrading strategy, and the industrial machine tool/CNC tool industry continues to be prosperous. In terms of valuation, the current price-to-earnings ratio (PE) of 92.66 times is already at a relatively high level, implying the market’s optimistic expectations for performance growth [1].

This limit-up shows the characteristics of dual-drive: performance-driven and theme speculation. Better-than-expected performance provides fundamental support, executive share purchases strengthen confidence signals, and the commercial aerospace concept provides short-term emotional catalysis, forming a resonance effect among the three [1][2][3]. It is worth noting that the timing of the release of the performance forecast and the executive share purchase announcement is rather subtle, and the simultaneous release creates an information superposition effect.

The substantial 135%-185% growth in net profit attributable to shareholders after deducting non-recurring gains and losses indicates that the company’s main business profitability has improved substantially, rather than relying on non-recurring gains and losses. This reflects that against the background of manufacturing upgrading, the process of domestic substitution of high-end CNC tools is accelerating, and leading companies in the industry have obviously benefited. The company’s product reserve layout for the aerospace field enables it to share the long-term dividends of the development of the commercial aerospace industry.

From the sector perspective, the industrial sector led the market on that day (+0.42%) [0], indicating that capital attention is rotating from growth tracks to the manufacturing sector. Okayee’s strong performance reflects the market’s recognition of the main line of manufacturing recovery. If this trend continues, leading companies in related sub-sectors are expected to receive sustained attention.

Risk Type	Details	Risk Level
Performance Adjustment Risk	This performance forecast is preliminary accounting data, and adjustments may be made when the annual report is officially disclosed	Medium
Valuation Regression Risk	The 92x PE ratio has fully reflected optimistic expectations, leaving limited upside potential	Medium-High
Raw Material Fluctuation Risk	Fluctuations in the prices of tungsten carbide and cobalt powder will directly affect profitability	Medium
Concept Fade Risk	The commercial aerospace concept is theme-driven, with limited actual correlation to fundamentals	Medium
Timing Risk	The performance forecast and executive share purchase announcement were released simultaneously, and the timing of information disclosure is worthy of attention	Medium-Low

: The superposition of concept popularity and performance benefits has increased the attention of short-term capital. If the commercial aerospace sector continues to gain momentum, the stock price is expected to rise inertially.

: If the official disclosure of the annual report verifies the reliability of the performance forecast growth, and the first quarterly report shows good order conditions, it may trigger reallocation by value-oriented capital.

: With the continuous advancement of the manufacturing upgrading strategy, there is broad space for domestic substitution of high-end CNC tools. As a leading enterprise in the industry, the company has long-term growth logic.

Currently, it is a high-attention window period, and the stock price is at a critical position after a breakthrough. Short-term traders need to closely monitor the performance of the RMB 40-42 resistance level and changes in trading volume. Medium-term layouts can wait for a pullback to the safety margin range below RMB 35.

Okayee (688308)'s 20% limit-up today is jointly driven by three positive factors: better-than-expected growth in the 2025 annual performance forecast (67.53%-91.96% year-on-year growth in net profit, 135.83%-185.28% growth in net profit after deducting non-recurring gains and losses), confidence signals from the executive share purchase plan, and the popularity of the commercial aerospace concept [1][2][3]. The company’s fundamental improvement is solid, benefiting from the trends of manufacturing upgrading and domestic substitution of high-end tools. However, the current 92x PE valuation is already at a relatively high level, and coupled with risk factors such as unaudited performance forecasts and fluctuations in raw material prices, caution is needed when chasing the rally.

The technical pattern shows the characteristics of a strong breakthrough, with healthy matching of volume and price, but attention needs to be paid to the pressure test of the historical dense chip area at RMB 40-42 [1][2]. Investors should distinguish between short-term speculation and medium- to long-term layouts, set reasonable stop-loss and take-profit rules, and continue to track the official disclosure of the annual report at the end of the month and subsequent order data.