#BinanceABCs India's domestic semiconductor concept stock RRP has skyrocketed over 55,000% in 20 months, with a market capitalization reaching $1.7 billion. Among listed companies worldwide with a market cap over $1 billion, this increase ranks first—undisputed.

Looking at the candlestick chart, you can see what madness looks like, with countless limit-up days. Statistical data shows that under the continuous tightening of Indian regulators (limiting the daily limit to 2%), this stock surprisingly hit 149 consecutive limit-ups. Later, regulators decisively intervened, directly stipulating that from November onwards, trading is only allowed one day per week.

What was the result? Since then, RRP has retraced about 7% from its peak. Rumors suggest that the Indian Securities and Exchange Board has already taken notice of this stock, investigating whether there is manipulation behind the scenes.

But the real irony of this two-year frenzy is this—opening the company's annual report, there are only two full-time employees. The most recent quarterly report is even more absurd, with revenue at a negative 68.2 million rupees (equivalent to a loss of 5.32 million RMB), and net loss of 71.5 million rupees. In plain terms, this is just a pile of conceptual paper wealth, with no real fundamentals.