The stock price hits a record high, the most bullish stock Xinghui Huan Cai 20cm three consecutive limit-ups | A weekly review of bullish and bearish stocks

Ask AI · How does Xinghui Environmental Material’s equity change push the stock price to new highs?

In the past week (March 30 – April 3), all three major A-share indices fell together. As of the close on April 3, the Shanghai Composite Index was at 3,880.1 points, down 0.86% for the week; the Shenzhen Component Index was at 13,352.9 points, down 2.96% for the week; the ChiNext Index was at 3,149.6 points, down 4.44% for the week.

Looking at it in more detail, more than 20% of individual stocks posted gains over the week, 85 stocks rose by more than 15%, and 153 stocks fell by more than 15%. Sectors such as pharmaceutical distribution, innovative drugs, optical fiber concepts, and weight-loss drugs led the gains, while sectors such as power, coal mining and processing, and photovoltaic equipment led the declines.

Which stocks led the rally? Which stocks led the sell-off? 21 Investment Pass continues to provide you with weekly insights.

After excluding newly listed stocks from the past month, in this period’s list of top bull stocks, Xinghui Environmental Material (300834.SZ) topped the chart with a 90.07% weekly increase. Haitai New Light (688677.SH) ranked second with a 75.26% weekly increase. Tianjin Yao Pharmaceutical (600488.SH) and Hongchang Technology (301008.SZ) each posted weekly gains of more than 40%. All 10 stocks in the bull stock list had weekly gains of more than 30%.

According to publicly available information, the main business of Xinghui Environmental Material is the R&D, production, and sales of polymer synthetic material polystyrene (PS). Its products are widely used in fields such as electronic and electrical appliances, toys, and daily goods packaging.

In the secondary market, as of the close on April 3, Xinghui Environmental Material’s stock price had risen by more than 90% cumulatively over the past week. Among them, the stock’s highest intraday price on April 3 reached 52.19 yuan per share, setting a historical high. In addition, from March 31 to April 2, the company’s stock price hit three consecutive 20cm limit-up boards.

From the perspective of news, on the evening of March 30, Xinghui Environmental Material announced that its actual controller, Chen Dongqiong, signed a share transfer agreement with Zelos (Hongkong) Holding Limited (hereinafter “Zelos HK”) on March 28, 2026. The agreement stipulates that Chen Dongqiong will transfer 51% of the equity she holds in Xinghui Synthesis Materials (Hong Kong) Limited (hereinafter “Xinghui Hong Kong”) to Zelos HK.

In addition, Xinghui Environmental Material’s actual controllers, Chen Yansheng and Chen Chuanghuang, and their acting-in-concert party, Chen Yueping, signed equity transfer agreements with Jiangsu Jiushizhi Intelligent Technology Co., Ltd. (hereinafter “Jiangsu Jiushizhi”) on March 28, 2026. Chen Yansheng, Chen Chuanghuang, and Chen Yueping will transfer a combined 45% equity interest they hold in the company’s controlling shareholder, Guangdong Xinghui Holding Co., Ltd. (hereinafter “Xinghui Holding”), to Jiangsu Jiushizhi.

After completion of this transaction, Zelos HK will hold 51% of the equity in Xinghui Hong Kong, and Zelos HK’s related party Jiangsu Jiushizhi will hold 45% of the equity in Xinghui Holding. Therefore, through controlling Xinghui Hong Kong, Zelos HK will have 19.25% of the voting rights in Xinghui Environmental Material. Chen Yansheng, Chen Dongqiong, Chen Chuanghuang, and Chen Yueping will, through direct shareholdings and controlling Xinghui Holding, collectively hold 45.19% of the voting rights. The company’s controlling shareholder remains Xinghui Holding, and the company’s actual controllers remain Chen Yansheng, Chen Dongqiong, and Chen Chuanghuang.

Public information shows that Jiangsu Jiushizhi is a wholly owned subsidiary of Jiushizhi (Suzhou) Intelligent Technology Co., Ltd. (hereinafter “Jiushizhi Intelligent”).

According to Jiushizhi Intelligent’s official website, it operates the world’s largest RoboVan (autonomous driving cargo vehicle) fleet. It is the pioneer in the RoboVan field and has launched the world’s first autonomous freight truck for operating on city motor vehicle roads. Jiushizhi Intelligent’s business covers multiple countries and regions including China, Japan, South Korea, Singapore, the United Arab Emirates, Austria, and more. In logistics fields such as postal services, express delivery, fast-moving consumer goods, fresh produce, and catering, it has established leading advantages and an absolutely leading market share.

On April 2, Xinghui Environmental Material stated in an announcement about abnormal stock movement that this equity change will not result in changes to the company’s controlling shareholder or actual controller. Jiushizhi Intelligent committed that within 36 months after the completion of this equity transfer, it will not seek the controlling rights or actual controlling rights of the listed company in any way, and there is no plan to inject assets into the listed company.

Among the top ten bearish stocks in this period (excluding newly listed stocks from the past week), Cubic Retreat (300344.SZ) fell 80.21% over the week to become the most bearish stock. Jin Control Power (000767.SZ) and Xiwang Food (000639.SZ) both declined by more than 30%. In this week’s bearish stock list, the weekly declines of all 10 stocks were more than 25%.

Public information shows that the company’s main businesses include intelligent software and hardware business segments, digital intelligent services segments, and mobile information services.

In the secondary market, Cubic Retreat’s stock price fell by more than 80% cumulatively over the past week.

On March 30, Cubic Retreat released an announcement stating that the company’s stock resumed trading on March 31, 2026 and entered the delisting restructuring period. The delisting restructuring period lasts 15 trading days, and the last trading date is expected to be April 21, 2026.

Cubic Retreat’s listing was terminated, and the core reason is that the company committed financial fraud for three consecutive years.

On March 23, the Shenzhen Stock Exchange issued an announcement titled “Announcement on Termination of Listing of the Stock of Cubic Data Science Co., Ltd.”

On the same day, Cubic Retreat announced that it received the Shenzhen Stock Exchange’s decision regarding the termination of listing of the company’s stock. According to the announcement, based on deliberations by the Shenzhen Stock Exchange’s listing review committee, the company was delisted because it committed financial fraud for three consecutive years from 2021 to 2023, triggering the relevant delisting provisions under the “GEM Stock Listing Rules.”

Specifically, according to the “Administrative Penalty Decision” issued by the Anhui Securities Regulatory Bureau on February 14, 2026, *from 2021 to 2023, ST Cubic inflated its operating revenue by a cumulative 638 million yuan and inflated its operating costs by 628 million yuan through means such as agency business, financing-related trade, false trade, and other methods.

It is worth noting that before suspension, Cubic Retreat’s stock price had experienced significant fluctuations. According to Wind data, between January 20 and February 11, Cubic Retreat’s stock price had a cumulative increase of 335.82%, rising from 0.67 yuan per share to 2.92 yuan.