Grandbuy Co., Ltd. (002187) Limit-Up Analysis: Policy Stimulus and Fundamental Outlook

Grandbuy Co., Ltd. (002187) hit the daily limit on November 26, 2025, with a closing price of 7.18 yuan, an increase of 9.95%, and a significant increase in trading volume [0][2]. This limit-up was mainly driven by the recently released “Action Plan for Financial Support to Enterprises in Carrying Out Industrial Chain Integration and Merger” by Guangdong Province [3][4]. As a Guangdong provincial state-owned retail enterprise, Grandbuy Co., Ltd. is expected to benefit from industrial chain integration and M&A support under this policy [0][7]. In addition, the retail industry is experiencing a turnaround from difficulties, with traditional department store enterprises seeking breakthroughs through business format adjustments and restructuring [6]. However, the company’s net profit in the third quarter of 2025 was a loss of 30.9974 million yuan, and its revenue decreased by 31.60% year-on-year [5], indicating that its profitability still faces challenges.

1. Superimposed Effect of Policy and Enterprise Attributes
   : As a provincial state-owned enterprise, Grandbuy Co., Ltd. has priority opportunities for M&A restructuring and asset activation under local policy support, an advantage that non-state-owned retail enterprises can hardly match [0][4][7].
2. Divergence Between Short-Term Market and Long-Term Fundamentals
   : Although policy stimulus has brought a short-term limit-up, the company’s loss situation has not improved. Attention should be paid to whether subsequent restructuring measures can effectively enhance profitability [0][5].

• Short-term market volatility risk: After hitting the limit-up, the stock price may correct, and investors need to be alert to the risk of chasing high prices [0][2].
• Profitability risk: The company reported a loss in Q3. If restructuring progresses slowly, continuous losses may affect long-term valuation [5].

• Policy dividend window: Guangdong Province’s industrial chain integration policy provides an opportunity for the company to restructure and expand [4][7].
• Retail industry recovery: The overall warming trend of the industry may drive the company’s performance improvement [6].

Grandbuy Co., Ltd.'s limit-up is the result of the combined effect of policy stimulus and industry recovery expectations. As a provincial state-owned enterprise, the company has policy advantages in M&A restructuring, but it needs to solve its own profitability problems. Investors should comprehensively consider policy benefits and fundamental conditions and view the short-term market rationally [0][3][5][6].