Jinyuan Co., Ltd. (000546) Daily Upper Limit Hit: Reasons and Market Trend Analysis

Jinyuan Co., Ltd. (000546) hit the daily upper limit on December 12, 2025, with a daily change of 10.02%, closing price of 6.59 yuan, and trading volume of 38.64M[0]. No direct company-level news catalyst was found; the main reasons for the daily upper limit come from the industry and market levels:

1. Expected Recovery of Lithium Battery Industry
   : UBS released a report on December 5 stating that the recovery of the lithium battery industry has just begun, and demand and prices are expected to rise[3]. Jinyuan Co., Ltd. has laid out lithium battery recycling business, directly benefiting from the improvement of industry expectations.
2. Driven by New Energy Market Sentiment
   : Global attention to the new energy industry continues to increase, and Jinyuan Co., Ltd.'s new energy business layout may attract market capital attention.
   Technically, the stock price has risen by 20.48% in the past month and 29.98% in three months, showing a strong upward trend[0]; although the fundamentals have been in loss for four consecutive quarters and ROE is -4.33%, the price-to-book ratio of 1.26x is at a relatively low valuation level[0].

1. Transmission Effect of Industry Recovery Cycle
   : The positive expectations of UBS report on the lithium battery industry have been transmitted to the relevant industrial chain, and Jinyuan Co., Ltd., as an enterprise in the lithium battery recycling link, has become a carrier for the release of market sentiment.
2. Game Between Value and Growth
   : Although the company’s performance is poor, the low price-to-book ratio may attract the attention of value investors, while the growth expectation of new energy business drives the intervention of speculative funds, forming a double promotion.
3. Deviation Between Technical and Fundamental Aspects
   : The short-term strong rise in technical aspects and long-term fundamental losses form a contrast, reflecting the market’s expectation of the company’s business transformation or performance improvement.

:

• Performance Risk: Continuous losses may affect long-term stock price performance[0].
• Industry Competition Risk: The lithium battery recycling industry is highly competitive[0].
• Policy Risk: Changes in new energy industry policies may bring uncertainty[0].

:

• Business growth space brought by the recovery of lithium battery industry[3].
• Valuation repair opportunities under the continuous improvement of market sentiment.

: It is necessary to focus on the company’s performance improvement and the recovery progress of the lithium battery industry, while policy risks and competition risks are secondary concerns.

Jinyuan Co., Ltd.'s daily upper limit is mainly driven by the expected recovery of lithium battery industry and new energy market sentiment. The technical performance is strong but the fundamentals still have pressure. In the short term, it is necessary to pay attention to the support level of 5.88 yuan and the resistance level of 8.36 yuan. In the long term, it is necessary to track the company’s performance, industry competition and policy changes.