Core Viewpoint - Meideng Technology (920227) experienced a decline of 2.93% today, with a turnover rate of 22.96% and a trading volume of 285 million yuan, indicating significant market activity and potential volatility [2] Trading Activity Summary - The stock was listed on the North Exchange's daily turnover list due to its turnover rate reaching 22.96%, with institutional investors net selling 30,400 yuan [2] - The top five trading departments accounted for a total transaction volume of 857.37 million yuan, with a net buying amount of 36.51 million yuan after a buying volume of 611.23 million yuan and a selling volume of 246.14 million yuan [2] - Among the trading departments, one institutional specialized seat was noted, with a buying amount of 5.25 million yuan and a selling amount of 5.55 million yuan, resulting in a net sell of 30,400 yuan [2] Historical Performance - Over the past six months, the stock has appeared on the turnover list six times, with an average price drop of 4.77% the day after being listed and an average decline of 1.87% over the following five days [2]

美登科技（920227）今日上涨8.21%，全天换手率26.85%，成交额3.29亿元，振幅26.84%。龙虎榜数据 显示，机构净卖出347.06万元，营业部席位合计净买入349.12万元。 北交所公开信息显示，当日该股因日换手率达26.85%上榜，机构专用席位净卖出347.06万元。 具体来看，今日上榜的营业部中，共有2家机构专用席位现身，即买二、卖二、卖四，合计买入金额 507.97万元，卖出金额855.03万元，合计净卖出347.06万元。 近半年该股累计上榜龙虎榜5次，上榜次日股价平均跌5.23%，上榜后5日平均跌0.17%。（数据宝） 美登科技11月24日交易公开信息 | 买/ 卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 国信证券股份有限公司深圳红岭中路证券营业部 | 523.56 | 526.73 | | 买二 | 机构专用 | 507.97 | 385.41 | | 买三 | 江海证券有限公司深圳分公司 | 457.35 | 0.00 | | 买四 | 东方财富证券股份有限公司拉萨东环路第二证券营业 | ...

（记者 曾健辉） 每经讯，2025年11月24日，北交所上市公司美登科技（920227，收盘价：70.55元）登上龙虎榜，交易方式是连续竞价，披露原 因是当日换手率达到26.85%，成交数量472.36万股，成交金额3.29亿元。买一席位为国信证券股份有限公司深圳红岭中路证券营 业部，买入523.56万元；卖一席位为国信证券股份有限公司深圳红岭中路证券营业部，卖出526.73万元。 | | 2025-11-24美登科技 (920227) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额(元) | 卖出金额(元) | | नेट ग | 国信证券股份有限公司深圳红岭中路证券营业部 | 5235593.07 | 5267318.68 | | 买2 | 机构专用 | 5079664.11 | 3854106.27 | | ग्रें३ | 江海证券有限公司深圳分公司 | 4573529.11 | 0 | | 买4 | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 4088158.37 | 2661557.55 | | ન્નેર | 东方财富 ...

Core Points - Meidun Technology (920227) experienced significant trading activity on November 19, 2025, with a turnover rate of 24.87% and a trading volume of 4.3751 million shares, amounting to a total transaction value of 299 million yuan [1][2]. Trading Activity Summary - The top buying seat was from Guosen Securities Co., Ltd. Shenzhen Hongling Middle Road Securities Business Department, with a purchase amount of approximately 7.72 million yuan [2]. - The top selling seat was from Guosheng Securities Co., Ltd. Hangzhou Construction Third Road Business Department, with a selling amount of approximately 13.79 million yuan [1][2]. - Other notable buying and selling activities included multiple departments from Guosen Securities and Dongfang Caifu Securities, indicating a diverse trading interest in Meidun Technology [2].

具体来看，今日上榜营业部中，第一大买入营业部为国信证券股份有限公司深圳红岭中路证券营业部， 买入金额为771.94万元，第一大卖出营业部为国盛证券有限责任公司杭州建设三路营业部，卖出金额为 1379.05万元。（数据宝） 美登科技11月19日交易公开信息 | 买/ 卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 国信证券股份有限公司深圳红岭中路证券营业部 | 771.94 | 105.90 | | 买二 | 国信证券股份有限公司深圳互联网分公司 | 761.35 | 743.58 | | 买三 | 东方财富证券股份有限公司拉萨东环路第二证券营业 部 | 475.10 | 462.01 | | 买四 | 国信证券股份有限公司北京分公司 | 458.27 | 70.53 | | 买五 | 广发证券股份有限公司杭州博亚时代中心营业部 | 423.38 | 0.00 | | 卖一 | 国盛证券有限责任公司杭州建设三路营业部 | 0.00 | 1379.05 | | 卖二 | 长城证券股份有限公司西北分公司 | 0.00 | 91 ...

Core Viewpoint - Meideng Technology (920227) experienced a significant increase of 22.82% in its stock price, with a trading volume of 4.63 billion yuan and a volatility of 31.83% on the day of reporting [2] Trading Data Summary - The stock's turnover rate reached 35.98%, leading to its listing on the trading board due to the notable price increase and trading activity [2] - The total net buying from brokerage seats amounted to 24.11 million yuan, with the top five brokerage seats contributing to a total transaction of 84.29 million yuan [2] - The largest buying brokerage was Guosheng Securities, with a purchase amount of 16.07 million yuan, while the largest selling brokerage was Ping An Securities, with a selling amount of 8.56 million yuan [2] Brokerage Activity Breakdown - The top five buying brokerages included: - Guosheng Securities, Hangzhou Construction Third Road: 16.07 million yuan - Great Wall Securities, Northwest Branch: 10.02 million yuan - Guoxin Securities, Shenzhen Internet Branch: 9.47 million yuan (with a selling amount of 0.16 million yuan) - Chuan Cai Securities, Chongqing Jiangbei Mouth: 8.18 million yuan (with a selling amount of 0.07 million yuan) - Guojin Securities, Shenzhen Branch: 7.82 million yuan (with a selling amount of 0.36 million yuan) [2] - The top five selling brokerages included: - Ping An Securities, Shenzhen Shennan East Road: 0.64 million yuan (with a buying amount of 0.00 million yuan) - Ping An Securities, Yinchuan Phoenix North Street: 0.63 million yuan (with a buying amount of 0.06 million yuan) - Huatai Securities, Nanjing Jiangning Tianyuan East Road: 0.48 million yuan (with a buying amount of 0.03 million yuan) - Donghai Securities, Shenzhen Shennan Avenue: 0.44 million yuan (with a buying amount of 0.00 million yuan) - Guoxin Securities, Shenzhen Tai Ran Ninth Road: 0.40 million yuan (with a buying amount of 0.11 million yuan) [2]

Core Points - Meidun Technology (920227) experienced a significant stock price increase of 22.82% on November 18, 2025, closing at 75.9 yuan [1] - The trading volume reached 6.3305 million shares, with a total transaction value of 463 million yuan [1] Trading Details - The top buying seat was from Guosheng Securities, which purchased 16.068 million yuan worth of shares [2] - The top selling seat was from Ping An Securities, which sold shares worth 8.5595 million yuan [2] - Other notable buying and selling activities included: - Changcheng Securities bought approximately 10.02 million yuan [2] - Guoxin Securities bought around 9.47 million yuan and sold about 1.56 million yuan [2] - Chuan Cai Securities bought approximately 8.18 million yuan and sold about 73.99 thousand yuan [2]

Core Viewpoint - Meidun Technology, established in 2013, is a pioneer in e-commerce SaaS software development and sales in China, focusing on providing SaaS software and value-added services to e-commerce merchants [1][3]. Group 1: Technology and R&D - The company emphasizes that technology is the core driver of efficiency, leading to increased R&D investments, with R&D expenses reaching 21.51 million yuan and an R&D expense ratio of 18.83% as of September [3][4]. - The technical team comprises over 50% of the workforce, with a total of 107 members, which supports the development of leading products and services [3][4]. - Meidun Technology has developed several core technologies in the e-commerce SaaS field, including a high-performance distributed massive data processing engine and patented methods for real-time data filtering and analysis [3][4]. Group 2: Market Position and Financial Performance - The company went public on the Beijing Stock Exchange on December 28, 2022, raising 176 million yuan for product optimization and R&D center construction, enhancing its product development capabilities [6][8]. - Post-listing, the company's market recognition and credibility have significantly improved, with its products leading in their respective categories on major e-commerce platforms [6][8]. - For the first three quarters of 2025, the company reported a revenue of 114 million yuan, a year-on-year increase of 5.17%, while net profit decreased by 4.22% to 29.90 million yuan [8][9]. Group 3: Future Strategy and Growth - The company plans to continue investing in AI technology, focusing on product iterations for intelligent customer service and expanding into new areas like live e-commerce and supply chain management [4][9]. - Meidun Technology aims to deepen data integration with major e-commerce platforms to enhance cross-platform collaboration efficiency [4][9]. - The company is committed to maintaining a stable cash dividend policy, with a minimum of 80% of profits distributed as dividends when mature and without significant capital expenditures [7][8].

Core Insights - The company, founded in 2013, is a pioneer in e-commerce SaaS software development and sales in China, providing SaaS software and value-added services to e-commerce merchants [1] Group 1: Technology and R&D - The company emphasizes that technology is the core driver of efficiency, with over 50% of its workforce in the technology team, reflecting a strong commitment to R&D [2] - As of September, the R&D expenses reached 21.51 million yuan, with an R&D expense ratio of 18.83%, indicating a 6.31% year-on-year increase [2] - The company has developed several core technologies in the e-commerce SaaS field, including a high-performance distributed data processing engine and real-time data filtering and analysis methods [2] Group 2: Product Development and Market Strategy - Future plans include continued investment in AI R&D, focusing on intelligent customer service and expanding into new areas like live e-commerce and supply chain management [3] - The company aims to create a comprehensive service system covering all aspects of e-commerce, enhancing operational efficiency and business growth for merchants [3][8] Group 3: Financial Performance and Market Position - The company went public on the Beijing Stock Exchange on December 28, 2022, raising 176 million yuan for product optimization and R&D center projects, which have strengthened its market position [4] - Since its IPO, the company has distributed a total of 117 million yuan in cash dividends, establishing a stable cash dividend policy [5][6] - For the first three quarters of 2025, the company reported revenue of 114 million yuan, a 5.17% year-on-year increase, while net profit decreased by 4.22% due to rising sales and R&D expenses [7] Group 4: Future Outlook - The company expects to maintain stable operations in the fourth quarter and throughout the year, with plans to expand into live e-commerce and continue AI technology development [7] - Future investments will focus on product development in live tools and order management, as well as exploring external investment opportunities to enhance the e-commerce SaaS ecosystem [7][8]

Market Overview - The IT services sector increased by 0.77% on November 13, with Meidun Technology leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Top Performers - Meidun Technology (code: 920227) closed at 66.28, up 13.57% with a trading volume of 18,600 [1] - Haixia Innovation (code: 300300) closed at 13.31, up 10.92% with a trading volume of 2,498,700 [1] - Guangyun Technology (code: 688365) closed at 14.89, up 8.77% with a trading volume of 135,300 [1] - Hongjing Technology (code: 301396) closed at 64.41, up 7.89% with a trading volume of 81,100 [1] - Huina Technology (code: 300609) closed at 41.20, up 7.29% with a trading volume of 101,400 [1] Underperformers - Huibo Yuntong (code: 301316) closed at 48.19, down 3.14% with a trading volume of 82,800 [2] - ST Haofeng (code: 300419) closed at 7.52, down 3.09% with a trading volume of 257,800 [2] - Rongke Technology (code: 300290) closed at 27.64, down 2.95% with a trading volume of 262,000 [2] Capital Flow - The IT services sector experienced a net outflow of 586 million yuan from institutional investors, while retail investors saw a net inflow of 560 million yuan [2] - Speculative funds had a net inflow of 25.8 million yuan [2] Individual Stock Capital Flow - Major net inflows were observed in Dawei Technology (code: 600589) with 77.82 million yuan, and Hongjing Technology (code: 301396) with 72.36 million yuan [3] - Notable net outflows were seen in Huina Technology (code: 300609) with 33.11 million yuan and Han De Information (code: 300170) with 26.83 million yuan [3]