Zhen'ai Meijia's Control Change Triggers Continuous Limit-Ups: AI Transformation Expectations Drive 61% Stock Price Surge

Zhen’ai Meijia (003041) has recently become a market focus due to its control change incident. According to internal analysis [0], Tance Technology acquired control of Zhen’ai Meijia for about 1.8 billion yuan through a combination of agreement transfer, voting right waiver, and partial tender offer. After the transaction is completed, the board of directors and management will be reorganized. As a leading domestic blanket manufacturer, Zhen’ai Meijia achieved 724 million yuan in revenue and 230 million yuan in net profit attributable to parent company in the first three quarters of 2025 [0]. However, since the acquisition news was announced on November 12, its stock price has hit the daily limit for five consecutive days with a cumulative increase of 61.03% [2]. As of the closing price on November 18, it was 49.63 yuan per share with a static PE ratio as high as 94.29 times, significantly higher than the industry average [2].

Tance Technology is a 10-billion-yuan-valued AI unicorn, and the industry influence of its founder Li Zhan has further amplified market sentiment [5]. Nearly 90% of Zhen’ai Meijia’s revenue comes from overseas markets [0]. If AI technology is successfully integrated, it is expected to enhance product added value and supply chain efficiency [1].

This acquisition reflects the capital market’s high recognition of the “AI + traditional industry” model. The stock price fluctuation of Zhen’ai Meijia highlights investors’ pursuit of the transformation story, but there is currently a lack of details on specific transformation plans [3]. Market expectations are mainly based on Tance Technology’s AI background rather than actual business integration progress.

: The expectation of AI transformation opens up new growth space for Zhen’ai Meijia. If the technology is successfully implemented, it is expected to achieve business upgrading [1].

: The current PE ratio deviates significantly from fundamentals, posing a valuation bubble risk [2]; integration difficulties during transformation, technical effects, and regulatory changes may all affect future performance [3]. Investors need to be alert to short-term fluctuations and pay attention to the progress of subsequent asset injections [0].

The core driver behind the stock price surge triggered by Zhen’ai Meijia’s control change incident is the market’s optimistic expectation of AI transformation. Although the short-term increase is significant, investors should rationally view the transformation uncertainty and high valuation risks, and need to closely follow the company’s announcements to obtain detailed transformation plans [3].