SiC concept stocks Hanlei soars beyond the sky: Can technological breakthroughs sustain the stock price surge?

Recently, the focus of the semiconductor sector has undoubtedly fallen on Hanlei. The company’s stock performance has been astonishing — within just four trading days, it hit three daily limit-ups, reaching a high of 57.7 yuan, setting a new high in nearly half a year, with a monthly increase of over 25%. Such a fierce rally has led many investors to ask: what exactly triggered such a heated market response?

Technological Breakthrough Ignites Market Imagination

The reason Hanlei has become a market darling is primarily due to its recent progress in the silicon carbide (SiC) field. The company announced that its fourth-generation MOSFET process platform (G4) achieved a technological breakthrough, delivering impressive results on key indicators: chip size reduced by 20%, on-resistance lowered by 20%, and overall performance metrics now aligned with international advanced standards.

Why is this development so noteworthy? The key lies in the market imagination space for SiC concept stocks. With explosive growth in demand for AI chips, industry rumors suggest GPU manufacturers may shift to using SiC materials to improve heat dissipation and energy efficiency. If Hanlei can become a participant in the relevant supply chain, it will undoubtedly gain new growth momentum. Such a story is enough to attract joint investments from foreign capital and proprietary traders, pushing the stock price sharply upward and breaking through all technical moving averages.

Speculative Wave and Market Chaos

However, behind the exuberance of the stock price, there are also concerning phenomena. The reversal trend last Friday was particularly typical: the stock price surged to 56.5 yuan, up 4.24% in the morning, but then was hit hard and turned negative, ultimately closing down 3.14% at 52.5 yuan. More alarmingly, the intraday margin trading volume reached as high as 50,285 contracts, with margin trading ratio exceeding 71% — indicating a large amount of short-term capital engaging in high-risk gambling, turning the stock into a speculative instrument.

Disconnection Between Performance and Stock Price

Turning to the company’s operational data reveals a different picture. Recent financial reports show that Hanlei has been in a loss-making state for seven consecutive quarters, with a per-share loss of 1.02 yuan in the first half of this year. Although revenue slightly rebounded in July, the total for the first seven months still declined by 7.9% compared to the same period last year.

This data reveals an important reality: the current stock price increase is more based on market imagination of the “future story” rather than the company’s actual current performance. No matter how compelling the narrative of SiC concept stocks is, it cannot hide the current loss situation.

Investors Need Calm Judgment

For investors focusing on Hanlei, it is necessary to evaluate the opportunities and risks with greater caution. While technological breakthroughs are promising, the journey from laboratory to commercial application often takes a long time and is fraught with uncertainties. The frenzy of short-term capital tends to come quickly and leave just as fast; when the heat subsides, it often leaves behind a scene of chaos.

While chasing the hype of SiC concept stocks, investors should remain sober about the huge divergence between fundamentals and stock prices. After all, what truly supports the stock price is ultimately the moment when the company turns losses into profits and achieves explosive growth in performance. Until that moment arrives, be vigilant about the risks brought by psychological fanaticism.