Shanxi Antai: Stock price surge triggers unusual volatility, indicating multiple trading risks.

Shanxi Antai announced that the company's stock has risen by 151.77% from October 9, 2025 to the present, with four instances of abnormal fluctuations and hitting the limit up on November 13th. The company's production and operation are normal, and the fundamentals have not changed, but they warn of several risks: consecutive losses in net profit for the first three quarters of 2023-2025; as of September 30th, the guarantee balance for related parties is 25.58 billion yuan, accounting for 169.07% of the net assets at the end of 2024, with all the shares of the controlling shareholder pledged; the stock price has risen sharply in the short term, the price-to-book ratio is higher than the industry sector, and there is a risk of irrational speculation and a decline in the stock price.