Analysis of the Limit-Up Reasons and Market Performance of Sun Cable (002300)

Sun Cable (002300) hit the limit-up at 11.76 yuan per share on December 15, 2025 [0], entering the limit-up pool. The main reasons for the limit-up include: 1) Expansion of submarine cable and nuclear power cable businesses, benefiting from the growth in submarine cable demand and the development of the nuclear power industry [1]; 2) Fujian Province’s computing power infrastructure development policies have driven fluctuations in Fujian local concept stocks, and the company, as a Fujian electrical equipment enterprise, has attracted capital attention [1]; 3) The strong performance of 6 limit-ups in 10 days has formed a profit-making effect, attracting market capital to follow the speculation [1].

From the perspective of price and trading volume, the stock price opened high and quickly sealed the limit-up board on the day, with the limit-up price hitting a historical high. The trading volume of 117,800 shares was lower than the average volume, indicating strong limit-up orders and small selling pressure [0]. Although the company issued an abnormal fluctuation announcement stating that the operating environment has not undergone major changes [2], its operating income and net profit from January to September 2025 decreased by 12.33% and 10.77% year-on-year respectively. The fundamentals have not improved, but the stock price has accumulated a large increase [1].

1. Sector Linkage and Thematic Speculation Logic
   : The limit-up was not only driven by the company’s business level but also catalyzed by the policies related to the Fujian computing power concept, reflecting the current market’s preference for regional policy theme speculation [1].
2. Short-term Speculative Sentiment Dominates
   : The high frequency of 6 limit-ups in 10 days has attracted short-term speculative capital, with strong market sentiment, but lack of sustained fundamental support [1].
3. Valuation and Fundamental Divergence
   : The current price-to-earnings ratio of 105.33 times and price-to-book ratio of 4.49 times are significantly higher than the industry average, forming a clear contrast between the rising stock price and the declining operating performance [0].

• Risks
  : Divergence between fundamentals and stock price, lack of sustained support [1]; Overvaluation [0]; Strong short-term speculation, high volatility risk [1]; Continuous limit-ups may face regulatory attention [2]; Low trading volume, the limit-up board may open at any time [0].
• Opportunities
  : If the expansion of submarine cable and nuclear power cable businesses makes substantial progress, or the Fujian computing power concept continues to ferment, the short-term stock price may continue to perform actively.

Sun Cable’s this limit-up is the result of the combined effect of policy themes, business expectations, and market capital. The short-term market sentiment is strong, but it is necessary to pay attention to the opening price and trading volume changes tomorrow: if it opens and seals the limit-up with enlarged volume, it may continue to rise; if it opens lower with enlarged volume, it may pull back [0]. Investment decisions need to be combined with one’s own risk tolerance, and carefully evaluate the matching between valuation and fundamentals.