Analysis of Shipu Testing (301228): Cumulative Price Deviation Exceeds 30% for Three Consecutive Days, Institutional Inflows vs. Fundamental Divergence

Shipu Testing (301228) has performed strongly recently, with cumulative price deviation exceeding 30% over three consecutive trading days [1][6], entering the tushare strong stock pool. In terms of capital flows, institutional seats recorded a net purchase of 69.8058 million yuan on November 17 [2][5], indicating professional investors’ attention to the stock. Fundamentally, the company’s operating revenue in the first three quarters of 2025 decreased by 17.87% year-on-year, with a net loss of 39.7865 million yuan [0], showing poor performance. The company’s main business is soil and groundwater testing, accounting for 60.36% of revenue [0], which aligns with the national environmental protection policy direction—this may be one of the long-term logics for institutional attention. Additionally, the company adjusted the upper limit of share repurchase price to 43.27 yuan per share in August [8], conveying confidence in its own value.

1. Divergence Between Capital and Fundamentals
   : Institutional inflows contrast sharply with short-term performance losses, reflecting the market’s higher expectations for the company’s long-term development (e.g., environmental policy dividends) than short-term performance [0].
2. Policy-Driven Logic
   : The company’s business belongs to the environmental testing field, benefiting from soil census and environmental governance policies [0], which is an important thematic factor supporting the stock price.
3. Repurchase Signal
   : The adjustment of the upper limit of share repurchase price shows the company’s management’s recognition of the stock price, which may enhance market confidence [8].

• Risks
  : Short-term performance losses may restrict sustained stock price increases; if subsequent performance does not improve, it may trigger profit-taking [0].
• Opportunities
  : With the continuous advancement of environmental protection policies, industry demand is expected to grow, and the company as a leading player in the niche segment may benefit [0]; continuous institutional inflows may drive the stock price higher [2][5].

Shipu Testing (301228)'s recent strong performance is mainly driven by institutional inflows and policy expectations, but short-term performance pressure cannot be ignored. Investors need to pay attention to the progress of policy implementation, the improvement of the company’s performance, and the continuous trends of institutional funds to balance risks and returns.