Guofeng New Materials (000859): Driving Factors and Market Analysis of Three Consecutive Daily Limit-Ups

Guofeng New Materials (000859) is the stock of Anhui Guofeng New Materials Co., Ltd., whose main business focuses on five major industries including polymer functional film materials and optoelectronic new materials [0]. Recently, the company’s stock price has performed strongly: on November 21, 2025, the closing price was 8.68 yuan, with a daily increase of 10.01%, achieving three consecutive daily limit-ups [1]. Over the past 5 days, the stock price has risen by 24.31%, with a transaction volume of 2.605 billion yuan and a net inflow of major funds of 102 million yuan [0]. The driving factors for the limit-ups include: the boom in the photoresist concept (photosensitive polyimide PSPI photoresist is in the laboratory preparation stage), restructuring expectations from the proposed acquisition of 58.33% stake in Jinzhang Technology, policy support for domestic substitution, and sector rotation effects [2].

1. Photoresist Concept and Domestic Substitution Resonance
   : The company has laid out PSPI photoresist to enter the semiconductor material track, aligning with the semiconductor domestic substitution trend promoted by the National Integrated Circuit Industry Investment Fund Phase III [3].
2. Growing Restructuring Expectations Boost Market Confidence
   : The proposed acquisition of Jinzhang Technology to integrate new display material assets, combined with the Hefei state-owned asset background, strengthens the market’s expectations for the company’s future development [2].
3. Significant Involvement of Major Funds
   : The single-day net inflow of major funds exceeded 100 million yuan, reflecting the market’s recognition of the company’s short-term popularity [1].

• Opportunities
  : The new materials track benefits from policy dividends, and domestic substitution demand is strong; the company’s competitiveness is expected to improve after the restructuring is completed [0].
• Risks
  : PSPI photoresist is still in the laboratory stage, so there is uncertainty in R&D progress; the restructuring matter has not yet been finalized, so there is a risk of failure; the short-term stock price has risen significantly, which may face correction pressure [0].

Guofeng New Materials’ recent limit-ups are mainly driven by the photoresist concept, restructuring expectations, and policy support, with obvious involvement of major funds. Going forward, attention should be paid to the R&D progress of PSPI photoresist, the implementation of restructuring matters, and the overall trend of the semiconductor sector to evaluate the company’s long-term investment value [0].