Analysis of Abnormal Price Fluctuations of Haixia Innovation (300300): Speculation Behind the 275% Surge and Suspension for Verification

Haixia Innovation (300300) issued an announcement on November 17, 2025, stating that its stock trading had abnormal fluctuations and would be suspended for verification starting November 18, with the suspension expected to last no more than 3 trading days [1]. This suspension stems from the recent sharp rise in the company’s stock price, which has attracted market attention [3].

According to reports, Haixia Innovation’s stock price rose more than 275% cumulatively from October 17 to November 17, 2025 [2], with a 185.89% increase between October 27 and November 17 [8]. On November 17, the company’s stock closed with a 20CM limit-up [2], reflecting high market speculation enthusiasm.

The recent stock price rise is mainly driven by speculation around cross-Strait concepts. As the only state-owned holding listed company in the Pingtan Comprehensive Experimental Zone [2], Haixia Innovation is regarded by the market as a target that benefits from the construction of the cross-Strait integrated development demonstration zone. However, the company clearly stated that there are no major unannounced matters that should be disclosed, and its fundamentals have not changed significantly [1].

Financial data shows that Haixia Innovation’s revenue in the first three quarters of 2025 was 92.0578 million yuan, a year-on-year increase of 4.75%, but net profit was a loss of 17.2383 million yuan [2]. In the third quarter alone, revenue was 19.3378 million yuan, a year-on-year increase of 2.25%, and net profit was a loss of 22.6059 million yuan [2]. The company is still in a state of continuous loss, and the stock price rise lacks fundamental support [1].

The suspension of the company’s stock for verification may lead to short-term trading interruption, and investors need to pay attention to the verification results [1]. The company has reminded investors to be aware of secondary market trading risks and avoid blind follow-up speculation [1]. Analysts point out that such concept speculation is often accompanied by high risks, and investors should view stock price fluctuations rationally [2].