Leedarson (605365) Limit-Up Analysis: Driven by Plant Lighting Concept and Capital Movements

This analysis is based on Tushare’s limit-up pool data (released on 2025-11-24 UTC+8) [0]. Leedarson (605365) hit the limit-up on that day. Core reasons include the boom in the plant lighting concept sector and large inflows of main capital; market sentiment was positive driven by the concept, but attention should be paid to the risk of a 54.35% decline in the company’s first three quarters’ net profit; future trends may be affected by the sustainability of the concept and performance improvement.

Leedarson (605365) is an LED lighting enterprise mainly engaged in education, plant, and home lighting, with an overseas layout in Thailand [0]. On November 24, 2025, it hit the limit-up, mainly driven by the high opening of the plant lighting concept sector [1], touching the limit-up board at 9:30 that day [4]. Main capital had a net purchase of 34.6246 million yuan [3], pushing the stock price up. In addition, overseas capacity release and cash flow improvement were also mentioned as driving factors [2]. Plant lighting is regarded as a blue ocean market [5], and the market has high attention to its transformation prospects, although the net profit in the first three quarters decreased by 54.35% year-on-year [0].

1. Concept speculation dominates short-term trend
   : The popularity of the plant lighting concept overshadows the weak fundamentals, reflecting the market’s preference for emerging tracks.
2. Capital movements and sector linkage
   : Main capital inflows are concentrated, forming resonance with the overall high opening of the plant lighting sector.
3. Transformation expectation vs performance pressure
   : The company’s layout in the plant lighting field has been recognized by the market, but the short-term performance decline still has hidden concerns.

• Risks
  : The popularity of the concept sector may retreat in the short term; the company’s first three quarters’ net profit declined by 54.35% [0], with insufficient fundamental support; market volatility risk.
• Opportunities
  : Blue ocean market potential of plant lighting [5]; cost advantages brought by overseas capacity release [2]; cash flow improvement enhances operational capability [2].

Leedarson (605365)'s limit-up is mainly driven by the plant lighting concept and main capital inflows. Despite the pressure on fundamentals, the market holds a positive attitude towards its transformation prospects. Investors need to pay attention to the sustainability of the concept and the company’s performance improvement, balancing short-term speculation and long-term value.