Popular Stock Analysis Report on Dazhong Public Utilities (01635.HK)

Comprehensive Analysis

Stock Overview and Dual Listing Features
: Dazhong Public Utilities is Shanghai Dazhong Public Utilities (Group) Co., Ltd., listed on both Hong Kong (01635.HK) and Shanghai (600635.SS) stock exchanges, belonging to the comprehensive public utilities sector [0]. As of the closing price on December 9, 2025, the Hong Kong stock was HKD 3.83 and the A-share was RMB 7.05 [0].
Reasons for Popularity and Event Drivers
: It became a Hong Kong hot stock mainly due to conceptual association effects and increased market attention. After the domestic GPU company Moore Threads went public on December 5, related concept stocks performed weakly. Dazhong Public Utilities was affected due to indirect investment links, with the Hong Kong stock falling by over 7% that day [1]; at the same time, recent increased trading volume has attracted investors’ attention, and the accelerated decline in thermal coal prices has led to a revaluation of the public utilities sector.
Price and Volume Fluctuation Characteristics
: For the A-share: Since November 26, fluctuations have been significant. On November 27, it rose by 7.68% to RMB 8.27 (trading volume 4.2789 million lots), on December 5 it fell by 9.84% to RMB 7.42 (trading volume 4.3211 million lots, the highest recently), and on December 9 it further fell by 2.22% to RMB 7.05 [0]. For the Hong Kong stock: On December 5 it fell by over 7%, and on December 9 it fell by 2.54% to HKD 3.83 [0]. Overall trading volume is much higher than average: the A-share average is about 2.98 million lots per day, and the Hong Kong stock’s volume expanded to 85.421 million shares on December 5 [0], indicating enhanced short-term speculation.

Key Insights

Short-term Trends Dominated by Speculative Trading
: The recent significant increase in trading volume and sharp fluctuations in stock prices indicate that market transactions of Dazhong Public Utilities are more based on concept speculation rather than fundamental support. The association with Moore Threads lacks a solid business foundation and is a short-term speculative behavior [1].
Dual Listing Price Linkage
: As a dual-listed company, the performance of Dazhong Public Utilities’ A-shares and Hong Kong shares shows strong linkage, and the price fluctuations of A-shares have a significant impact on Hong Kong shares. Investors need to pay attention to the interaction effect between the two markets.
Impact of Industry Environment Changes
: The accelerated decline in thermal coal prices has put pressure on the overall valuation of the public utilities sector. Although Dazhong Public Utilities is a comprehensive enterprise, it is still affected by industry dynamics.

Risks and Opportunities

Risks

Price Volatility Risk: Recent sharp fluctuations in stock prices, with the A-share falling nearly 10% on December 5, strong short-term speculation [0];
Concept Speculation Risk: The speculative association with Moore Threads lacks a business foundation, and the stock price may fall back after the concept fades [1];
Industry Policy and Valuation Risk: The public utilities sector is greatly affected by regulatory policies, with the current TTM P/E ratio of about 17.73 times [0], so attention should be paid to valuation rationality.

Opportunities

As a dual-listed comprehensive public utilities enterprise, if the revaluation of the industry tends to stabilize, there may be long-term investment opportunities;
The increased liquidity brought by high attention provides operation space for short-term traders, but they need to deal with fluctuations cautiously.

Key Information Summary

Stock Codes: 01635.HK (Hong Kong Stock), 600635.SS (A-share);
Closing Price on December 9, 2025: Hong Kong Stock HKD 3.83, A-share RMB 7.05 [0];
Recent Fluctuations: Mainly driven by concept speculation related to Moore Threads’ listing and increased trading volume;
Support Levels: A-share RMB 7.0, Hong Kong Stock HKD 3.8; Resistance Levels: A-share RMB 8.2, Hong Kong Stock HKD 4.0 [0];
Need to Pay Attention to Risks: Price volatility, concept speculation, and changes in industry valuation.

Popular Stock Analysis Report on Dazhong Public Utilities (01635.HK)

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