"Mu Bang Gao Ke: Stock price has a large increase, there are uncertainties regarding restructuring and listing."

Mubang High-tech announced that the company's stock has risen by 35.57% from October 30, 2025 to date, with seven consecutive trading days hitting the limit up, while production and operations remain unchanged, and the stock price has deviated from the fundamentals. The company has been applied for reorganization by creditors, the uncertainty of whether it can enter the reorganization program, and it is expected that it will not be able to enter before December 31, 2025. The net profit for the year 2024 was negative and the revenue was less than 300 million, and the stock has been implemented with delisting risk warning; the revenue from January to September 2025 was 226.8226 million yuan, and the net profit was -355.7161 million yuan. If the revenue for the year 2025 is less than 300 million and the profit is negative, the stock will be delisted. In addition, both the company and the actual controller, Liaozhiyuan, have been filed, and the issue of fund occupation has not been resolved.