Qian Baidu (01028.HK) Reasons for Surge on Hong Kong Stock Hot List and Risk Analysis

Qian Baidu (01028.HK), a Hong Kong-listed stock in the Textile, Apparel & Footwear sector, appeared on the Hong Kong Stock Surge List of the East Money App on the afternoon of December 4, 2025 [0]. Combining the company’s history and recent developments, the rise may be driven by multiple factors:

1. Financing Activity Catalyst
   : On October 30, 2025, the company issued 415.4 million subscription shares and 474.5 million warrants (subscription price: HK$0.205) [1]. This financing activity may be interpreted by the market as a signal of the company’s improved financial condition and future development plans.
2. Industry Recovery Expectations
   : Although the company issued a profit warning in August 2025 (expecting a mid-term net loss of RMB 140 million to 145 million, mainly due to impairment provisions for trade debts and weak domestic consumption) [2], recent signs of industry recovery or policy support may re-attract investors’ attention.
3. Low-level Rebound Momentum
   : The company’s stock price has been at a low level for a long time, and its undervaluation may attract speculative funds to enter, driving a short-term surge.

Price and成交量方面, the stock saw a significant increase on the day of the event [0], but due to data limitations, the latest support/resistance levels cannot be accurately determined. Trading volume may have increased after the financing activity, but historical volume has been generally low.

1. Divergent Market Sentiment
   : Institutional investors have shown some confidence by participating in the financing activity [1], while individual investors’ attention has increased due to the surge list, but the mid-term profit warning [2] still suppresses sentiment.
2. Risks and Opportunities Coexist
   : The low-level rebound of the stock price provides short-term trading opportunities, but the company’s fundamental pressures (such as performance losses, industry competition) and liquidity risks may limit long-term performance.
3. Policy and Industry Linkage
   : Changes in domestic consumption policies will directly affect the company’s performance; close attention should be paid to the consumption recovery trend and industry policy direction.

• Financing activity provides capital support for the company’s development [1]
• Low-level rebound attracts short-term capital attention [0]
• Industry recovery may drive valuation repair

• Performance Risk
  : Mid-term expected loss of RMB 140 million to 145 million [2]
• Industry Competition Risk
  : The footwear market is highly competitive, putting pressure on market share and profitability
• Liquidity Risk
  : Long-term low trading volume increases transaction difficulty
• Policy Risk
  : Adjustments to domestic consumption policies affect performance

This analysis is based on data from the Hong Kong Stock Surge List of the East Money App [0] and recent events of Qian Baidu such as financing [1] and profit warning [2], presenting the possible reasons for the company’s short-term stock price surge and potential risks. Investors should pay attention to:

• 2025 full-year performance report
• Usage of financing funds and development plans
• Domestic consumption recovery and industry policy trends
• Changes in stock price volume and sustainability of capital inflows