Comprehensive Analysis of the Reasons for Rongji Software (002474)’s Limit-Up and Its Market Impact

Rongji Software (002474) has recently had consecutive limit-ups [1][5], with core driving factors including three dimensions:

1. Sector Rotation Effect
   : Against the backdrop of A-share adjustments at high levels, funds have flowed from high-valued sectors like new energy to low-position technology stocks [9], and the AI application track has been actively bucking the trend [9]; the company’s digital intelligent government affairs business is aligned with AI implementation scenarios [0]
2. Catalyst Events
   : The public beta launch of Alibaba’s Qianwen APP and news of Baidu’s AI business growth [7] have strengthened the market’s expectations for the commercialization inflection point of domestic AI applications [0]
3. Capital Support
   : Main funds have continued to flow in; on November 18, net purchases amounted to 160 million yuan [2]; the Dragon and Tiger List shows participation by hot money Shanghai Ultra-Short Gang [4], with cumulative net purchases reaching 590 million yuan [0]

In terms of the company’s fundamentals, in the first three quarters of 2025, revenue was 366 million yuan (YoY -0.96%), and net profit attributable to parent company was a loss of 32.55 million yuan (YoY -64.79%) [0], but Q3 revenue increased by 11.39% YoY [0], showing marginal improvement in business.

• Themed Investment Dominance
  : The stock price rise is catalyzed by the AI application theme rather than direct improvement in fundamentals [0][8]
• Hot Money Participation Characteristics
  : The Dragon and Tiger List shows that hot money Shanghai Ultra-Short Gang is on the list [4], with high short-term volatility risks
• Scenario Alignment
  : The digital intelligent government affairs business provides a natural scenario for AI technology implementation, and long-term growth space is worth attention [0][8]

1. Short-term Correction Risk
   : After consecutive limit-ups, valuations have risen rapidly; hot money withdrawal may trigger volatility [1][4]
2. Fundamental Pressure
   : Net profit continues to be in loss; performance improvement needs time to verify [0]
3. Sector Rotation Risk
   : If the popularity of the AI sector fades, the stock price may be dragged down [9]

1. AI Application Upgrade
   : The government affairs software business is expected to achieve efficiency improvements through AI technology [0][8]
2. Policy Dividends
   : The digital intelligent government affairs field may receive policy support to promote business expansion [0]

Rongji Software’s recent limit-ups are dominated by themed investment sentiment; catalysis from the AI application sector and capital inflows are the main drivers. Although the short-term performance is strong, it is necessary to balance theme popularity with fundamental reality. Investors should rationally view short-term volatility and pay attention to the company’s AI business implementation progress and performance improvement signals.