On the evening of May 13, multiple stocks that hit their daily limit-up today issued announcements regarding stock trading risks or abnormal stock price fluctuations. These include Datang International Power Generation Co.,Ltd. with six consecutive limit-ups, Henan Huanghe Whirlwind Co.,Ltd. with three consecutive limit-ups, Huadian Liaoning Energy Development Co.,Ltd. with three consecutive limit-ups, and CSSC Special Gas Co., Ltd. with two limit-ups in three days, as well as several stocks with two consecutive limit-ups: Kechuan Technology, Quick Intelligent, United Technology, and On & Off.
Additionally, several other high-performing stocks that have seen significant gains this month also issued volatility announcements, including Puya Semiconductor, TaiJi Industry, Fuda Alloy, and Tongguang Cable.
Among the aforementioned 12 stocks, Datang International Power Generation Co.,Ltd., with its six consecutive limit-ups, has risen over 77% since the beginning of May. Huadian Liaoning Energy Development Co.,Ltd., Fuda Alloy, and Puya Semiconductor have also gained over 60% this month.
Looking at the year-to-date stock price increases, eight stocks, including Huadian Liaoning Energy Development Co.,Ltd., Fuda Alloy, Puya Semiconductor, Kechuan Technology, CSSC Special Gas Co., Ltd., Datang International Power Generation Co.,Ltd., Henan Huanghe Whirlwind Co.,Ltd., and Tongguang Cable, have all surged over 100%. Among them, Huadian Liaoning Energy Development Co.,Ltd. leads with a staggering 481% increase, followed by Fuda Alloy, Puya Semiconductor, and Kechuan Technology with gains of 289.84%, 234.22%, and 228.19%, respectively.
Datang International Power Generation Co.,Ltd. (Six Consecutive Limit-ups): No Currently Invested Computing-Power Synergy Projects Datang International Power Generation Co.,Ltd. (601991.SH) issued an announcement regarding stock trading risks. Upon self-inspection, the company stated that its current production and operational activities are entirely normal, with no significant changes in daily operations. There have been no major adjustments to the market environment or industry policies, no substantial fluctuations in production costs or sales, and internal production and operational order remains normal. The company's directors and senior management are performing their duties normally. As of the end of Q1 2026, the company's installed capacity share for coal power, gas turbines, hydropower, wind power, and photovoltaic power was 56.80%, 11.05%, 10.73%, 13.05%, and 8.37%, respectively. Revenue from new energy power generation accounted for approximately 9.23%, a relatively small proportion. As of now, the company has no currently invested computing-power synergy projects.
Huadian Liaoning Energy Development Co.,Ltd. (Three Consecutive Limit-ups): Abnormal Stock Trading, P/E Ratio Significantly Exceeds Industry Average Huadian Liaoning Energy Development Co.,Ltd. (600396.SH) announced that its stock price deviation accumulated over 20% on May 11 and 12, constituting abnormal fluctuations. It hit the limit-up again on May 13. From April 27 to May 13, the stock accumulated an 80% gain over ten consecutive trading days, severely deviating from the broader market and its industry. The company's latest trailing P/E ratio is 601.43 times, far exceeding the industry average of 54.91 times; its latest P/B ratio is 15.89 times, higher than the industry average of 3.04 times. The company's main business is thermal power generation, with no significant changes in operations, and it is not involved in computing-power synergy projects. The scale of its controlling subsidiary's hydrogen energy project is small, with hydrogen energy revenue of 1.2648 million yuan in Q1 2026, having no significant impact on financial data. The company and its controlling shareholder are not planning any major asset restructuring or similar matters.
Henan Huanghe Whirlwind Co.,Ltd. (Three Consecutive Limit-ups): Stock Trading Risk Alert Following Significant Recent Gains Henan Huanghe Whirlwind Co.,Ltd. (600172.SH) announced that its stock price deviation accumulated over 20% on May 8, 11, and 12, and it hit the limit-up again on May 13.
The company reported revenue of 1.356 billion yuan and a net loss of 950 million yuan for 2025, with net assets of 560 million yuan. For Q1 2026, revenue was 395 million yuan with a net loss of 97 million yuan and net assets of 464 million yuan. Upon self-inspection, the company stated its production and operations are normal, with no major undisclosed matters requiring disclosure.
CSSC Special Gas Co., Ltd. (Two Limit-ups in Three Days on ChiNext): Increased Business Discussions with Some Downstream Clients Regarding Tungsten Hexafluoride Products, No New Substantial Long-Term or Large-Value Order Agreements Signed Yet CSSC Special Gas Co., Ltd. (688146) issued an announcement regarding abnormal stock price fluctuations. The company noted recent media reports and market rumors concerning production cuts by Japanese tungsten hexafluoride suppliers. Influenced by policies such as export controls on tungsten-related items and total control over tungsten mining, upstream tungsten raw material supply has tightened. Recently, some downstream clients have increased business discussions with the company regarding tungsten hexafluoride products. However, no new substantial long-term or large-value order agreements have been signed yet. Subsequent cooperation and its impact on the company's operating performance remain uncertain. Simultaneously, the company noted inaccurate content on certain online platforms regarding its tungsten hexafluoride product capacity, prices, and specifications. The company reminds investors to refer to official announcements.
Kechuan Technology (Two Consecutive Limit-ups): Subsidiary Kechuan Photonics' Main Business Has Not Yet Generated Revenue Kechuan Technology (603052) issued an announcement regarding abnormal stock price fluctuations. Its wholly-owned subsidiary, Kechuan Photonics Technology (Suzhou) Co., Ltd., established in February 2024, focuses on the R&D, design, testing, and production of silicon photonics chips and optical modules. Its net loss for 2025 was 20.4666 million yuan. As of the announcement date, products are in the sampling stage with a long validation cycle. Kechuan Photonics is actively pursuing market development, but its main business has not yet generated revenue, having no significant impact on the company's current-period revenue. Future order acquisition remains uncertain.
Quick Intelligent (Two Consecutive Limit-ups): Advanced Packaging TCB Thermo-Compression Bonding Equipment Undergoing Sample Validation with Several Clients, No Revenue Generated Yet Quick Intelligent (603203) announced that its stock price deviation accumulated over 20% over three consecutive trading days, constituting abnormal fluctuations. The company's main products include precision welding and assembly equipment, machine vision process equipment, intelligent manufacturing complete equipment, and die bonding and packaging equipment.
Regarding market attention on related equipment, the company clarified: In 2025, revenue from its die bonding and packaging equipment business accounted for less than 5% of total revenue, a relatively small amount. Within this, revenue from silicon carbide micro-nano silver (copper) sintering equipment was extremely low. Advanced packaging TCB thermo-compression bonding equipment is currently undergoing sample validation with several clients, with no revenue generated yet. The validation process is lengthy, and there is significant uncertainty regarding successful sampling and future order placement, having no impact on current-period performance. The subsequent development of related business is uncertain, and investors are advised to be aware of investment risks.
United Technology (Two Consecutive Limit-ups): No Related Products or Business Involving "Indium Phosphide" or "Optical Chips" United Technology (000925) announced that it noted recent discussions on some media, self-media, and stock forum platforms involving hot concepts like "indium phosphide," "optical chips," "semiconductor materials," and "computing power" related to its business. The company clarifies as follows:
The concepts "indium phosphide" and "optical chips" relate to Zhejiang Kunteng Infrared Technology Co., Ltd., a company invested in by the company's controlling subsidiary, Guoke Zhonghe Innovation Group Co., Ltd., with an investment ratio of 23.2153%. As of the announcement date, Kunteng Infrared has not generated sales revenue in the indium phosphide field. Kunteng Infrared's invested company, Zhejiang Zhongkun Guangxin Quantum Technology Co., Ltd., established in February 2026, has its "optical chip" products still in the R&D and pilot stage, with no orders or revenue generated as of the announcement date. The company's investment in Kunteng Infrared does not confer control, and it is not included in the consolidated financial statements. It is accounted for as a long-term equity investment using the equity method. In 2025, the company recognized an investment income of 3.17 million yuan from Kunteng Infrared, having no significant impact on operating performance. The listed company itself has no related products or business involving "indium phosphide" or "optical chips."
The company's controlling subsidiary, Zhejiang Haina Semiconductor Co., Ltd., primarily produces silicon-based semiconductor materials including 8-inch and below semiconductor-grade Czochralski monocrystalline silicon ingots, polished wafers, and lapped wafers, and provides wafer regeneration services. In 2025, Haina Semiconductor achieved revenue of 453.0968 million yuan, accounting for 19.83% of the listed company's revenue, which is below 30% of the overall total. Haina Semiconductor's products and services are mainly applied in high-end semiconductor power devices, integrated circuits, communication electronics, automotive electronics, etc., and are not directly applied in "optical module" related products for the time being.
On & Off (Two Consecutive Limit-ups): No Undisclosed Major Matters or Major Matters in the Planning Stage On & Off (300959) announced that its stock price deviation accumulated over 30% on May 12 and 13, constituting abnormal stock trading fluctuations. Upon verification, previously disclosed information requires no correction or supplement. No undisclosed significant information affecting the stock price was found. Recent operational conditions and internal/external environment have not undergone significant changes. The controlling shareholder and actual controller have no undisclosed major matters or major matters in the planning stage.
Puya Semiconductor: Main Products Include 2D NAND and Other Niche Non-Volatile Memory Products, Corresponding Market Size Relatively Small Puya Semiconductor (688766) issued an announcement regarding abnormal stock price fluctuations. The company's current main business is the design and sales of non-volatile memory chips and derivative chips based on memory chips. Investors are advised to pay close attention to cyclical changes in the memory industry and risk factors such as current memory prices being at historical highs. Among all segmented products in the memory industry, the company's (including its controlling subsidiaries) main products include 2D NAND and its derivative memory chips (SLC NAND, eMMC) products, NOR Flash, EEPROM, and other niche non-volatile memory products, corresponding to a relatively small market size.
TaiJi Industry: Semiconductor Business Revenue Accounted for 15.15% in 2025 TaiJi Industry (600667) announced that its stock price deviation accumulated over 20% on May 11, 12, and 13, constituting abnormal stock trading fluctuations.
The company's current main businesses include semiconductor business, engineering technical services business, and photovoltaic power station investment and operation business. The semiconductor business mainly involves IC chip packaging, packaging testing, module assembly, and testing. In 2025, the company's semiconductor business achieved revenue of 4.65 billion yuan, accounting for 15.15% of its annual revenue. Among this, its controlling subsidiary, Hefei Tai Semiconductor (Wuxi) Co., Ltd., operates on a "full cost + agreed profit (10% of total investment + excess profit)" model, achieving revenue of 3.939 billion yuan in 2025, accounting for 12.84% of the company's annual revenue.
Fuda Alloy: Stock Price Severely Abnormal, No Involvement in Undisclosed Major Matters Fuda Alloy (603045) announced that its stock price deviation accumulated 100% over ten consecutive trading days (April 27 to May 13), constituting severe abnormal fluctuations, with a cumulative increase of 103.99%. Upon self-inspection and verification with the controlling shareholder, the company's production and operations are normal, with no undisclosed major matters requiring disclosure, nor involvement in market hot concepts.
The company noted that recent two-day turnover rates reached 24.39% and 19.50%, significantly high, indicating risks of overheated market sentiment and irrational speculation. Subsequent stock prices may face significant correction risks. Additionally, the controlling shareholder Wang Dawu's previously disclosed reduction plan has been fully implemented.
Tongguang Cable: During Abnormal Stock Fluctuation Period, Largest Shareholder Tongguang Group Cumulatively Reduced Holdings by 2.5272 Million Shares Tongguang Cable (300265) issued an announcement regarding abnormal stock price fluctuations, stating that during the abnormal fluctuation period (May 12 and 13), the controlling shareholder Tongguang Group cumulatively reduced its holdings of the company's stock by 2.5272 million shares via block trades. This reduction plan is still in progress. Apart from the aforementioned shareholder, other company directors and senior management did not trade the company's stock during the abnormal fluctuation period (May 12 and 13).
(Disclaimer: Article content is for reference only and does not constitute investment advice. Investors act at their own risk.)
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