Analysis of the Reasons for the Limit-Up of Leike Defense (002413) and Outlook for Future Market Performance

Leike Defense (002413) hit the limit-up on November 25, 2025, with a cumulative deviation from the涨幅 over three consecutive trading days exceeding 20%, triggering abnormal stock trading fluctuations [1]. The core driving factors for this limit-up include:

1. Sector Popularity
   : The global military industry sector is driven by geopolitical factors, with radar and satellite technologies becoming industry hotspots. The company’s businesses (radar systems, satellite applications, etc.) are highly aligned with this trend [0];
2. Capital Inflows
   : The Dragon and Tiger List shows that GF Securities Taizhou Donghai Boulevard Branch had a net purchase of 137 million yuan, and short-term capital attention has significantly increased [2];
3. Business Attributes
   : The company mainly operates in the defense electronics field, covering five major business groups, which is in line with the direction of national defense technology development [0].

Financially, from January to September 2025, the company’s revenue was 933 million yuan, a year-on-year increase of 34% [0], but the net profit was negative 352 million yuan [0], reflecting a disconnect between revenue growth and profit improvement.

1. Concept Sector Linkage
   : The company belongs to concept sectors such as short message communication, space station, and satellite navigation [0], forming a linkage effect with recent national defense technology policies and technological breakthroughs;
2. Market Sentiment Differentiation
   : The average trading volume reached 47.41 million shares [0], indicating increased market attention, but the governance structure without a controlling shareholder/actual controller may increase uncertainty [0];
3. Segment Field Activity
   : This limit-up may mark a rise in short-term trading popularity in the military electronics segment, and attention should be paid to the sustainability of the sector [0].

:

• Abnormal trading fluctuation risk: Excessive short-term gains, need to be alert to callback pressure [1];
• Financial fundamental challenges: Negative net profit, profitability to be improved [0];
• Industry uncertainty: Geopolitical changes and industry competition may affect business stability [0].

:

• Growth in national defense investment: Continuous investment in the national defense technology field provides space for the company’s business expansion [0];
• Potential of emerging businesses: Emerging businesses such as satellite applications and intelligent connected networks have long-term growth potential [0].

: In the short term, focus on regulatory announcements and capital flows; in the long term, track the progress of the company’s profit improvement [0].

Leike Defense is a defense electronics enterprise in the national defense and military industry field, covering core areas such as radar and satellite applications [0]. This limit-up was driven by factors such as sector popularity and capital inflows, but there are financial and trading fluctuation risks [0][1][2]. Investors should make comprehensive judgments based on the company’s fundamentals, industry dynamics, and market sentiment, and avoid blind chasing of high prices [0].