A stock with an astonishing increase soared from just over 12 yuan at the beginning of last year to 218 yuan, a cumulative increase of over 16 times. During this process, it underwent 4 suspension inspections, each time passing smoothly. But after the 5th suspension, the situation took a sharp turn— the CSRC immediately announced an investigation.

The issues uncovered by regulatory authorities pointed to suspicious content in the announcement. The company was accused of following AI hot topics for speculation and selectively omitting key information disclosures. A common tactic in such operations is: lacking solid performance growth support, relying solely on thematic effects to boost the stock price.

This case once again confirms a market iron law—when the rise departs from fundamentals, regulatory authorities can always pinpoint it accurately. For investors chasing high prices, this lesson is undoubtedly heavy. The authenticity and completeness of information disclosure are always the core indicators to measure a stock's long-term value.