Yujing Co., Ltd. (002943) Limit-Up Analysis: Driven by Silicon Carbide Equipment Business, 268% YTD Growth

Item	Data
Stock Code	002943.SZ
Company Name	Yujing Co., Ltd. (Hunan Yujing Machinery Co., Ltd.)
Industry	Industry - Machinery & Equipment
Current Price	RMB 66.31 (Limit-Up Price)
Limit-Up Range	+10.00%
Total Market Capitalization	RMB 13.52 billion
Today’s Turnover	approx. RMB 266 million (locked at limit-up at 9:25)
Turnover Rate	approx. 0.59%

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Yujing Co., Ltd. hit the limit-up today due to the overlay effect of multiple concepts, with core drivers including the following aspects:

[1][2]

As a core supplier of silicon carbide substrate processing equipment, Yujing Co., Ltd. has achieved mass sales of 6-8 inch silicon carbide cutting, grinding and polishing equipment against the backdrop of rapidly growing demand for new energy vehicles and power devices. Meanwhile, the company is advancing the R&D of 12-inch silicon wafer cutting equipment. This business layout allows the company to directly benefit from the improved prosperity of the semiconductor industry.

[1]

According to a January 15, 2026 report from Securities Times Network, Hunan Yuxing Xiandong Robot Co., Ltd. was officially established, with Yujing Co., Ltd. participating in joint shareholding. Its business scope includes R&D, manufacturing and sales of intelligent robots. This layout aligns with the current market’s enthusiasm for the robot concept, providing a new catalytic factor for the stock price.

[1]

The company’s high-precision equipment is applied to smart terminal fields such as consumer electronics glass and sapphire, with Lens Technology (300433) as an important customer. IDC data shows that global smartphone shipments in Q2 2025 grew for the 8th consecutive quarter, indicating a clear industry recovery trend.

[3][4]

The superhard materials concept oscillated higher today, and Yujing Co., Ltd. as a concept stock benefited significantly. Meanwhile, the monocrystalline silicon sector performed strongly overall today, and the basic materials sector led the market (+1.15%), with positive sector sentiment driving individual stock performance.

From the technical perspective, Yujing Co., Ltd. shows obvious characteristics of a strong uptrend:

Time Period	Gain	Performance Evaluation
Today (Limit-Up)	+10.00%	Strong Limit-Up
5-Day	+20.52%	Strong Rebound
1-Month	+89.89%	Extreme Growth
3-Month	+95.95%	Sustained Bull Run
6-Month	+154.26%	Big Growth Stock
1-Year	+268.59%	Nearly 3x YTD Gain

: Between January 13 and 23, the stock achieved 3 limit-ups in 6 trading days, showing typical consecutive limit-up characteristics. In terms of trading volume, it started with a breakout volume of 18.75 million shares on January 13 and remained active. When it locked at limit-up on January 23, the trading volume was 2.66 million shares, with relatively light selling pressure. Technically, it is at a historical high, with moving averages in a bullish arrangement.

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This report reveals a core contradiction worthy of high attention: although Yujing Co., Ltd. has achieved a 268% YTD gain, the company’s fundamentals have not improved synchronously. The net profit margin remains at a loss of -47.48%, ROE is -44.41%, and P/E is negative, indicating that the company is still in a difficult operating period. This divergence phenomenon of ‘loss-making performance but skyrocketing stock price’ is common in small and medium-cap theme stocks, usually related to excessive market optimism about future expectations.

Yujing Co., Ltd. overlaps multiple hot concepts including silicon carbide, robotics, consumer electronics, and superhard materials. Such multi-concept overlay can bring significant valuation premiums when market sentiment is optimistic, but once market risk appetite declines or hot spots rotate, the stock price may face greater adjustment pressure. Investors need to recognize that the sustainability of concept hype depends on actual performance realization, rather than pure expectations.

From transaction data, today’s locked share volume is only 2.66 million shares, with relatively limited locked capital, indicating the ‘quality’ of the limit-up is mediocre. There is unwinding pressure near the historical high, and the selling willingness of early trapped investors may emerge in subsequent trading days.

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Risk Type	Risk Level	Description
Valuation Risk	High	P/B ratio reaches 15.14x, significantly higher than the average valuation level of the machinery & equipment industry
Fundamental Risk	High	Continuous losses, ROE of -44.41%, weak fundamental support
Volatility Risk	Extremely High	Characteristics of consecutive limit-up stocks lead to sharp price fluctuations, large intraday volatility
Chasing High Risk	High	Excessive short-term gains, increasing probability of technical pullback
News Verification Risk	Medium	Some positive news has early timeliness (September 2025), need to continuously verify business progress

include: the silicon carbide equipment business does benefit from the prosperity cycle of new energy vehicles and the semiconductor industry, with real industrial logic support; the implementation of the robot concept indicates that the company is actively expanding new business areas; continuous capital inflows show high market attention.

From the perspective of risk-return analysis, this stock belongs to the

type. The current stock price is at a historical high, and the risk of technical pullback is high. For investors with low risk appetite, it is recommended to remain cautious; for investors with high risk appetite, if participating, they need to set a strict stop-loss level (RMB 56) and control position size.

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Yujing Co., Ltd. (002943) hit the limit-up on January 23, 2026, closing at RMB 66.31 with a total market capitalization of RMB 13.52 billion. The core drivers behind the limit-up include the continued prosperity of the silicon carbide equipment business, the rising popularity of the robot concept, and the growth in equipment demand driven by recovering consumer electronics demand. Technically, the stock shows an obvious upward trend, with a YTD gain of 268%, and has achieved 3 limit-ups in the past 6 trading days.

However, investors should note that there is a severe divergence between the company’s fundamentals and stock price: despite the strong stock performance, the company is still in a loss-making state (net profit margin of -47.48%), with a P/B valuation of 15.14x, which is at an extremely high level in the industry. Excessive short-term gains mean that the risk of technical pullback cannot be ignored.

Key price levels to watch for subsequent trends: first resistance level at RMB 66.31 (today’s limit-up price, historical high), second resistance level at the integer mark of RMB 70; first support level at RMB 60 (recent platform consolidation area), second support level at RMB 55 (bottom of the mid-January consolidation platform). Trend forecast: probability of continuous limit-up is about 30% (requires expanded locked shares + continuous strong sector performance), probability of high-level oscillation is about 40% (consolidation in the RMB 60-66 range), probability of pullback adjustment is about 30% (breaking below the RMB 60 support).