Despite Zhejiang Ming Jewelry's recent share price surge, its P/S ratio remains below industry median, likely due to expectations of limited growth. If medium-term revenue trends persist, significant share price increase is unlikely.

Zhejiang Ming Jewelry's performance last year indicates potential unresolved challenges. Investors are advised to ensure they are buying a high-quality business, even in a down market. Be aware of warning signs in the company's investment analysis.