Baosheng Co., Ltd. (600973) Limit-Up Driving Factors and Trend Prediction

The core event of this analysis is Baosheng Co., Ltd. (600973) hitting the limit up for the second consecutive trading day on December 8, 2025 (UTC+8), with a closing price of 6.48 yuan and a daily increase of 10.02% [0].

The driving factors for Baosheng Co., Ltd.'s limit up can be sorted from three aspects: concept linkage, capital flow and market environment:

• Concept Sector Linkage
  : As one of the representative stocks in the superconducting concept sector, the company benefited from the sector’s sharp rise since December 5, 2025 [1][2]; meanwhile, it recently added the “High-End Equipment” concept [0], further enhancing the theme’s attractiveness.
• Capital Push
  : Dragon and Tiger List data shows that northbound funds net bought 37.8126 million yuan that day, and the well-known hot money seat “Chao Gu Yang Jia” was also on the list [3][4]. The dual intervention of institutions and hot money triggered market follow-up.
• Market Environment
  : On that day, A-shares performed strongly overall, with the Shanghai Composite Index up 0.54%, Shenzhen Component Index up 1.39%, and ChiNext Index up 2.6% [0]. The general rise environment provided external support for the stock’s limit up.

In terms of price and volume, on December 8, the company’s trading volume reached 2.0094 million lots, 5.46 times the average volume of the past 5 days [0], with a turnover rate of 14.65%, indicating a significant increase in capital participation; after two consecutive limit ups, the cumulative deviation of the three-day increase reached 20% [3].

• Significant Speculative Attribute
  : The limit up is dominated by concept speculation and capital push. The company’s net profit in the first three quarters of 2025 was negative, with a price-to-earnings ratio of -34.11 times [0], lacking fundamental support, and the short-term speculative characteristics are prominent.
• Capital Coordination and Chip Changes
  : The simultaneous intervention of northbound funds and well-known hot money reflects short-term consensus; the number of shareholders of the company is 46,300, a decrease of 22.89% compared with the previous period, and the per capita shareholding increased [5], the concentration of chips increased, but the risk of rapid withdrawal of hot money still exists.
• High Market Sentiment
  : On that day, 78 stocks in A-shares hit the limit up, and the market sentiment index was 8.2 degrees, which was at a high level [0], providing an emotional basis for the strong stock price.

• Concept Speculation Risk
  : The core logic of the limit up is the superconducting concept theme. If the sector’s popularity cools down, the stock price lacks sustained upward momentum [1][2].
• Valuation and Fundamental Risk
  : The company’s net profit is in loss, and the valuation is in the negative range, so the long-term investment value is insufficient [0].
• Capital Outflow Risk
  : The participation of short-term hot money is high, and there is a possibility of stock price correction caused by rapid capital withdrawal [3][4].
• Market Volatility Risk
  : The current market volume has increased, and the overall volatility has intensified, so systemic risks need to be vigilant [0].

If the superconducting concept sector remains active and capital continues to flow in, the stock price may maintain short-term strength, but it is necessary to closely track the concept dynamics and capital flow.

The continuous limit up of Baosheng Co., Ltd. is the result of the combined effect of concept speculation, capital push and market environment. The company’s fundamentals are weak, and the rise is mainly short-term speculation. Investors need to focus on:

• Sustainability of the superconducting concept sector [1][2];
• Changes in capital flow of the Dragon and Tiger List [3][4];
• Subsequent improvement of the company’s fundamentals [0].
  It is recommended that investors participate in short-term speculative operations cautiously based on their own risk tolerance.