$FS ANTHRACITE(01738.HK)

Recently, Feishan Anthracite (01738.HK) has made a splash: On November 2, its stock price surged to HK$0.34 intraday, with a maximum gain of over 130%, and trading volume skyrocketed, peaking at over 55 million shares in a single session, far exceeding previous levels. What exactly happened?

Multiple financial media outlets reported that the Hong Kong coal sector has collectively strengthened recently, with Feishan Anthracite leading the gains. The main catalyst behind this is the extreme cold wave hitting northern regions, triggering a surge in heating demand. "Winter hasn’t even arrived, but coal bosses are already laughing." Most coal companies also showed strong performance during the same period, with clear sector rotation.

The aggressive entry of short-term speculative capital has also been a key driver of this volatility. High turnover and large price swings intensified the fluctuations, with rapid pullbacks after the rally, indicating fierce competition among major funds.

Key logic: The combination of peak winter demand for coal + sudden extreme weather stimulus, coupled with liquidity-driven momentum, has sparked an explosive rally. However, whether fundamentals can sustain improvement and whether earnings can provide a solid backing remain the core focus for the future.