ZaiSheng Technology's stock price increased by over 20% in three trading days. There are no current orders for high silica oxygen fiber products.

Lidar Finance | Yang Yang | Li Yihui

On February 26, ZaiSheng Technology (Stock Code: 603601) issued an announcement regarding abnormal stock trading fluctuations. The company’s stock price closed with a cumulative deviation of over 20% during three consecutive trading days from February 24 to February 26, indicating an abnormal trading event. The company stated that its main business has not changed and there are no other major undisclosed pieces of information.

Although the stock price surged significantly in the short term, the company’s operating revenue and net profit for the first three quarters of 2025 both declined year-over-year. The price-to-earnings ratio (TTM) is 186.28, far above the industry average. Regarding market rumors about supplying SpaceX, the company said that this business accounts for a very small portion of revenue and has no significant impact on performance. Currently, there are no orders on hand for “high silica fiber products.”

Tianyancha data shows that ZaiSheng Technology was established on June 28, 2007, with a registered capital of approximately 1.02165 billion RMB. The legal representative is Guo Mao, and the registered address is No. 1 Chanyi Road, Hui Xing Street, Yubei District, Chongqing. Its main business is the research, production, and application of superfine fiber cotton.

Currently, the company’s chairman is Guo Mao, the secretary is Han Xupeng, with 1,341 employees. The actual controller is Guo Mao.

The company has stakes in 24 subsidiaries, including Sen Coffee (Chongqing) Co., Ltd., Slash Power Coffee (Chongqing) Co., Ltd., Beijing Zisun Air Purification Technology Co., Ltd., Xuan Coffee (Chongqing) Co., Ltd., and Chongqing Fiber Research and Design Institute Co., Ltd.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 1.618 billion, 1.656 billion, and 1.476 billion RMB, respectively, with year-over-year changes of -0.44%, +2.30%, and -10.87%. Net profit attributable to shareholders was 151 million, 38.13 million, and 90.75 million RMB, with YoY growth of -39.80%, -74.76%, and +137.99%. During the same period, the company’s asset-liability ratio was 34.48%, 26.77%, and 28.33%.

Regarding risks, Tianyancha data shows the company has 56 internal risk alerts, 47 surrounding risk alerts, 142 historical risk alerts, and 249 early warning risk alerts.