Fengxing's high P/S ratio is worrying due to its recent slower growth compared to the industry. Without a significant boost in medium-term performance, the P/S ratio may drop to a more reasonable level.

Fengxing's high P/S ratio may not be justified considering its recent performance and expected industry growth. Investors may face disappointment if the P/S falls to levels aligning with recent growth rates. The current high P/S and lower industry growth make the share price seem unreasonable unless conditions improve significantly.