Recently, I flipped through the low price area of the traditional stock market and found that some tickets have fallen below 5 yuan - for friends who are used to watching cryptocurrency fluctuations, they may think that this decline is nothing, but in a relatively "stable" market like A-shares, breaking 5 yuan often means that something is wrong with the fundamentals of the enterprise or the industry cycle.

**Energy Sector: Embarrassment for Resource Stocks**

Guanghui Energy is now 4.99 yuan, and the energy giant in Xinjiang did 8.1 billion yuan in the coal business in the first half of the year, 5 billion yuan in natural gas, 2.2 billion yuan in coal chemical industry, and 3.1 billion yuan in overseas markets. Xinjiang is indeed a treasure trove of resources - rich in oil, coal, and natural gas, and the scenery is as beautiful as a fairy tale (more than Switzerland). But resource stocks are like this, they are too cyclical, they make money when the price rises, and the stock price also falls when they are in a downturn.

Xinjiang Tianye (4.89 yuan) is also in a similar situation, with chemical product revenue of 4.6 billion yuan and cement 369 million, a typical asset-heavy cyclical stock.

**Eco-Tech: A Tepid Track**

Fuchun Environmental Protection (4.98 yuan) is engaged in comprehensive utilization of non-ferrous metals and clean energy in Fuyang, Hangzhou, with revenue of 1.1 billion, 974 million and 247 million respectively in the first half of the year. The concept of environmental protection has been less speculated in recent years, but in the long run, policy support is still there, that is, the market enthusiasm is not high.

**Real Estate Shock: The Former King**

Vanke A fell to 4.95 yuan, which was once the top of the global real estate industry! From 42 yuan all the way to the present, it has fallen by more than 85%. The management certainly did not expect that housing prices in so many cities would fall by 30%, and in some places they would even fall by more than 40%. Houses can't be sold, land depreciates, inventory backlogs - this is the cruelty of the end of the cycle.

**Niche Track Scanning**

Warburg Pincus (4.97 yuan) made an emergency command system, with an income of 113 million yuan in the first half of the year, Minfa Aluminum (4.96 yuan) sold aluminum profiles in Quanzhou, Fujian Province, with an income of 752 million, and Zhengyuan Dixin (4.93 yuan) engaged in surveying, mapping, geographic information and pipeline operation and maintenance, each with an income of more than 100 million.

Rongjie Health (4.92 yuan) sells far-infrared saunas (309 million) and air purifiers (more than 16 million), which is a bit niche, Wynn Co., Ltd. (4.9 yuan) makes electronic and telecommunications mold plastic parts, with an income of 577 million, and Winbond Health (4.86 yuan) sells 3.45 billion yuan in new agrochemical materials and 1.641 billion yuan in medicine.

**Write at the end**

The traditional stock market and currency circle are completely two worlds - one relies on fundamentals and policy cycles, and the other relies on narrative and capital flows. But one thing is common: **no matter which market, risks exist objectively, and retail investors need to be extra careful when entering**. Low price does not mean underestimation, and there are often pitfalls hidden behind cheapness that you can't see.