Analysis of the Strong Performance of Xice Testing (301306)

Xice Testing (301306) entered the strong stock pool on December 12, 2025. On that day, its stock price rose by 14.60% to close at 78.65 yuan, hitting a 52-week high of 80.00 yuan intraday [1].

1. Prosperity of National Defense and Military Industry Sector
   : Global defense budgets continue to grow, and industry capital deployment has hit a record [4][5][6][7]. As a provider of reliability testing services for military electronics, the company directly benefits.
2. Concept Theme Resonance
   : The company covers hot concepts such as national defense and military industry, memory chips, and large aircraft [1]. Among them, the memory chip sector had a collective limit-up wave in October 2025, and the company is one of the related concept stocks [8].
3. Short-term Capital Speculation
   : Recently, the company’s stock price has risen continuously and rapidly, with a 10-day increase of 38.44% [1], attracting short-term capital attention.

• Price Changes
  : 5-day increase of 18.63%, 10-day increase of 38.44%, hitting a 52-week high of 80.00 yuan intraday on that day [1].
• Trading Volume and Turnover Rate
  : On that day, the trading volume was 164,300 shares, the transaction amount was 123.7 million yuan, and the turnover rate was 28.18%; the 5-day turnover rate was 96.21%, the 10-day turnover rate was 159.51%, the volume ratio was 1.57, and the trading volume was higher than the 5-day average [1].
• Key Price Levels
  : 52-week high of 80.00 yuan (resistance level), support level of 68.63 yuan (closing price on December 11) [1].

• Core Business
  : Provider of reliability testing services for military electronics [2][3].
• Financial Status
  : Net profit in Q3 2025 was -106 million yuan, a significant year-on-year decline; revenue was 225 million yuan, a year-on-year decrease of 27.90%; the gross profit margin in the first three quarters was 0.00%, and profitability continued to deteriorate [1].
• Institutional Holdings
  : Social security funds hold shares, indicating certain recognition from long-term funds [1].

The high prosperity of the national defense and military industry sector to which the company belongs provides industry-level support, while the resonance of concept themes such as memory chips further amplifies market attention and capital inflow.

High turnover rate (over 150% in 10 days) and large short-term increase (nearly 40% in 10 days) show obvious short-term capital speculation characteristics, with low chip stability.

Despite the strong stock price performance, the company suffered losses in Q3, with both revenue and gross profit margin declining. There is an obvious deviation between fundamentals and stock price performance, and traditional valuation methods are no longer applicable.

1. Fundamental Risks
   : Poor financial performance, net profit loss, continuous decline in revenue and gross profit margin [1].
2. Technical Risks
   : Short-term overbought, risk of technical correction [1].
3. Valuation Risks
   : Negative TTM P/E ratio, significant increase in stock price compared to the issuance price and the beginning of the year, prominent risk of overvaluation [1].

If it can break through and stabilize at the 52-week high of 80.00 yuan, it may open up further upside space; the long-term prosperity of the national defense and military industry sector also provides potential industry opportunities for the company.

In the short term, attention should be paid to the breakthrough of the 80.00 yuan resistance level and the risk of technical correction; in the long term, attention should be paid to the improvement of the company’s fundamentals.

The strong performance of Xice Testing (301306) is mainly driven by the prosperity of the national defense and military industry sector, resonance of concept themes, and short-term capital speculation. The technical side shows strong short-term momentum but overbought signs, while the fundamental side faces challenges such as financial losses. Investors need to pay attention to the deviation between stock price and fundamentals and the risks brought by high turnover rate, while focusing on the long-term prosperity of the industry and the breakthrough of key price levels.

This analysis is based on public information and does not constitute investment advice. The stock market is uncertain, and investors should make cautious decisions based on their own risk tolerance.