Hemei Group (002356) Daily Limit Up Analysis on December 1st

Hemei Group (002356) closed with a daily limit up on December 1st (increase: 10.12%, closing price: 4.57 yuan) [0]. The main reasons for the daily limit up are dual-driven by performance reversal and hydrogen energy concept:

• Performance Aspect
  : In the first three quarters of 2025, the company’s revenue increased by 190.21% year-on-year, and the net profit attributable to shareholders turned from loss to profit, with the fundamentals significantly improved [1][2].
• Concept Aspect
  : Through subsidiaries such as Pengfei Qingmei and Qingyun Technology, the company has deeply laid out the entire hydrogen energy industry chain (hydrogen production, storage and transportation, refueling, and terminal applications). Recently, there has been progress in the new integrated energy island project, which fits the hydrogen energy policy hotspots [2].
• Dual-drive Mode
  : The business model of “high growth of hydrogen energy + stable cash flow from brand retail” aligns with the current market preference for targets with “certainty + growth space” [2].

From the perspective of price and trading volume: The opening price on that day was 4.31 yuan, the amplitude was 6.27%, the trading volume was 1.4127 million lots, the turnover was 641 million yuan, and the turnover rate was 10.77% [0]. Both the trading volume and turnover rate were significantly higher than those in recent periods, indicating a significant increase in capital attention.

• Market Sentiment Resonance
  : The daily limit up was driven by the resonance of short-term funds and trend funds. Concept sectors such as hydrogen energy and new energy transformation have been active recently, and individual stocks were obviously driven by the sector sentiment [1].
• Dual Main Lines Align with Market Preferences
  : The superposition of the performance inflection point and the policy track dual main lines just meets the current market’s demand for targets with both fundamental support and growth imagination space [2].

• Business Uncertainty
  : The hydrogen energy business is in the early stage, the actual profit contribution remains to be verified, and the project progress may be less than expected [2].
• Short-term Correction Risk
  : The stock price is driven by events (performance announcements) and themes, and there may be a correction after short-term overheating [2].
• Limited Fundamental Support
  : The brand retail business provides a basic disk, but the long-term value of the hydrogen energy business still needs to be confirmed by performance landing [2].

• If the hydrogen energy project progresses smoothly, the company is expected to benefit from the development dividends of the hydrogen energy industry.
• The dual main business model may attract more long-term capital attention.

• Resistance Level: 4.57 yuan (daily limit price, short-term resistance); if it breaks through later, pay attention to the resistance near the historical high.
• Support Level: 4.31 yuan (opening price of the day), 4.15 yuan (previous closing price).

Hemei Group (002356)'s daily limit up on December 1st is the result of dual driving forces of performance reversal and hydrogen energy concept. Market sentiment is positive, and trading volume and turnover rate have increased significantly. However, attention should be paid to the uncertainty of the hydrogen energy business and short-term correction risks. Investors should focus on the progress of the company’s hydrogen energy projects and the continuous improvement of performance.