Industry Overview - The smart camera industry is experiencing explosive growth driven by the integration of optical imaging technology, artificial intelligence, IoT, and edge computing, transforming traditional cameras into intelligent devices capable of environmental perception and autonomous decision-making [1][17] - As of 2024, the market size of China's smart camera industry is projected to be approximately 112.52 billion yuan, with an expected increase to 128.72 billion yuan by 2025 [1][17] - The industry is characterized by rapid technological iteration and diverse application scenarios, with products evolving towards higher definition and intelligence [1][17] Policy Support - The Chinese government has implemented various policies to support the smart camera industry, including the promotion of smart manufacturing and the encouragement of consumer spending on smart home products [6][7] - Key policies include the "Implementation Opinions on Promoting Future Industry Innovation Development" and the "Notice on Expanding the Implementation of Large-Scale Equipment Updates and Consumer Goods Replacement Policies" [6][7] Market Dynamics - The global smart camera market is expected to see a shipment volume of 137 million units in 2024, reflecting a year-on-year growth of 7.7% [14] - In the first quarter of 2025, China's consumer-grade smart camera market shipped 12.08 million units, marking a 6.2% increase year-on-year [15] Competitive Landscape - Chinese brands dominate the global smart camera market, with four out of the top five brands being Chinese, including Hikvision, Xiaomi, Dahua, and TP-Link [19][21] - Hikvision led the global market with a shipment of 4.203 million units in the first quarter of 2025, achieving a year-on-year growth of 7.9% [19] Industry Trends - The industry is moving towards multi-modal integration, enhancing environmental perception through the combination of various sensory data [27] - Smart cameras are evolving from basic observation to advanced understanding capabilities, driven by deep learning technologies [28] - There is a trend towards customized solutions for specific vertical applications, such as industrial and medical uses, which enhances product value and creates technical barriers [29]

Group 1 - The Terahertz concept sector increased by 2.62%, ranking fifth among concept sectors, with 18 stocks rising, including ShuoBeide which hit a 20% limit up [1] - Leading stocks in the Terahertz sector included Shaanxi Huada, Leike Defense, and Taihao Technology, which rose by 4.92%, 3.85%, and 3.61% respectively [1] - The sector experienced a net inflow of 1.023 billion yuan from main funds, with 11 stocks receiving net inflows, and 5 stocks exceeding 50 million yuan in net inflow [2] Group 2 - ShuoBeide led the net inflow with 833 million yuan, followed by ZTE Communications, Haige Communications, and Tianhai Defense with net inflows of 135 million yuan, 114 million yuan, and 76.79 million yuan respectively [2] - The net inflow ratios for ShuoBeide, Leike Defense, and Haige Communications were 26.89%, 10.30%, and 9.03% respectively [3] - The trading volume and turnover rates for leading stocks in the Terahertz sector were significant, with ShuoBeide showing a turnover rate of 39.04% [3]

Group 1: Overall Performance of Central Enterprises - 79 central enterprise-controlled listed companies reported positive performance forecasts for the first half of the year, with 32 companies showing year-on-year net profit growth, 22 companies turning losses into profits, and 25 companies reducing losses [1] - 19 central enterprise-controlled listed companies expect a net profit increase of over 100%, with several companies achieving significant turnaround from losses [1] Group 2: Power Sector Performance - Huayin Power, a subsidiary of China Datang Group, is expected to lead the growth with a projected net profit of 180 million to 220 million yuan, representing a year-on-year increase of up to 44 times due to increased power generation and reduced fuel costs [2] - Major investments in the power grid and ultra-high voltage construction by State Grid and Southern Power Grid are expected to drive growth in related companies, with Guodian Nanzi and Baobian Electric forecasting net profit increases of 171.89% to 225.66% and 229.15%, respectively [2] Group 3: Electric Equipment and Cable Industry - Baobian Electric's profit increase is attributed to enhanced market development and increased project orders, while Baoshan Co. anticipates a net profit growth of 167.98% to 301.98% due to optimized sales policies and improved internal management [3] - New Energy Taishan is expected to turn losses into profits in the first half of the year, reflecting a positive trend in the electric cable sector [3] Group 4: Shipbuilding and Rare Earth Industries - The shipbuilding sector is experiencing significant growth, with companies like China Shipbuilding, China Power, and China Heavy Industry expecting net profit increases exceeding 200% due to effective management and increased delivery of civilian ships [5] - The rare earth industry is also thriving, with companies like China Rare Earth and Guangsheng Nonferrous Metals expected to turn losses into profits, driven by rising prices of rare earth products [4] Group 5: Turnaround Companies - 22 central enterprise-controlled listed companies are expected to turn losses into profits, with quality improvement and efficiency enhancement being key factors for their performance recovery [6] - Companies like Zhongnan Co. and Taiji Co. have reported successful turnarounds due to strengthened management and cost control measures [6][7] Group 6: Management and Efficiency Improvements - Many companies achieving year-on-year growth or reduced losses attribute their success to ongoing quality improvement and efficiency enhancement initiatives [7] - Companies are focusing on optimizing resource allocation, controlling costs, and improving operational efficiency as critical drivers of performance growth [7]

Market Overview - As of 10:29 AM today, the Shanghai Composite Index stands at 3526.79 points, above the six-month moving average, with a change of 0.47% [1] - The total trading volume of A-shares today is 737.265 billion yuan [1] Stocks Performance - A total of 94 A-shares have surpassed the six-month moving average today, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - 欧陆通 (Eurasiatic) with a deviation rate of 5.86%, closing at 128.20 yuan after a 6.85% increase [1] - 思源电气 (Siyuan Electric) with a deviation rate of 5.07%, closing at 76.99 yuan after a 10.00% increase [1] - 中国中车 (CRRC) with a deviation rate of 4.75%, closing at 7.60 yuan after a 5.41% increase [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - 中纺标 (Zhongfang Biao) with a deviation rate of 3.78%, closing at 48.83 yuan after a 7.04% increase [1] - 天华新能源 (Tianhua New Energy) with a deviation rate of 3.69%, closing at 20.63 yuan after a 7.84% increase [1] - Stocks with smaller deviation rates that have just crossed the six-month line include 多利科技 (Doli Technology), 蓝宇股份 (Lanyu Co.), and 世嘉科技 (Shijia Technology) [1]

[Current Period Performance Forecast](index=1&type=section&id=Item%201.%20Current%20Period%20Performance%20Forecast) The company expects to achieve a turnaround to profitability in H1 2025, with net profit attributable to shareholders between RMB 17 million and RMB 25 million 2025 Semi-Annual Performance Forecast | Indicator | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | RMB 17 million - RMB 25 million | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | RMB 0 - RMB 3 million | - This performance forecast indicates a turnaround from loss to profit[2](index=2&type=chunk) - The forecast period covers January 1, 2025, to June 30, 2025[3](index=3&type=chunk) [Prior Period Performance Review](index=2&type=section&id=Item%202.%20Prior%20Period%20Operating%20Performance%20and%20Financial%20Status) In contrast to the 2025 pre-profit forecast, the company incurred losses in H1 2024, with net profit attributable to parent company shareholders at RMB -11.91 million 2024 Semi-Annual Prior Period Performance | Indicator | Amount (RMB) | | :--- | :--- | | Total Profit | RMB -11.71 million | | Net Profit Attributable to Parent Company Shareholders | RMB -11.91 million | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | RMB -39.54 million | | Earnings Per Share | RMB -0.04 | [Analysis of Pre-Profit Reasons](index=2&type=section&id=Item%203.%20Main%20Reasons%20for%20Current%20Period%20Pre-Profit) The turnaround to profitability is primarily driven by main business growth and improved gross margins, alongside approximately RMB 16.3 million in non-operating income - Main business impact: The company strengthened market promotion, achieving growth in both optical and controller businesses, while continuously advancing lean management to improve gross profit and reduce period expenses[7](index=7&type=chunk) - Non-operating income impact: During the reporting period, the sale of idle Shanghai properties (contributing approximately **RMB 9.8 million** to profit) and a partial equity stake in subsidiary Phoenix New Energy (Huizhou) Co., Ltd. (contributing approximately **RMB 6.5 million** to profit) collectively contributed approximately **RMB 16.3 million** in profit[7](index=7&type=chunk) [Risk Warning and Other Explanations](index=2&type=section&id=Item%204.%20Risk%20Warning) This performance forecast is a preliminary, unaudited calculation, with final data to be disclosed in the 2025 semi-annual report, urging investor caution - This performance forecast represents preliminary unaudited data, with no significant uncertainties identified[8](index=8&type=chunk) - Final detailed performance data will be disclosed in the company's 2025 semi-annual report, and investors are advised to exercise caution in their decisions[9](index=9&type=chunk)

Core Viewpoint - Phoenix Optical plans to invest 85 million USD (approximately 60 million RMB) to establish a wholly-owned subsidiary in Vietnam, marking a significant step in its overseas strategic layout to meet the diversified supply chain needs of international clients and further expand its global market presence [2][3]. Investment Overview - The new company, tentatively named "Phoenix Optical (Vietnam) Co., Ltd.", will have a registered capital of 85 million USD and will be located in Vinh City, Nghe An Province, Vietnam. Its main business will include the production, processing, sales, and import-export of optoelectronic products. The project is expected to be completed and put into operation by 2026, with investment funds allocated for factory renovation, equipment procurement, and working capital [4]. Strategic Significance - This investment is a key move for Phoenix Optical to extend its industrial chain and enhance its international competitiveness. The establishment of the production base in Vietnam will help the company better serve overseas clients, respond to the global supply chain diversification trend, optimize cost structure, and improve market responsiveness. The company emphasizes that its current financial condition is stable, and this investment will not adversely affect its main business or cash flow [5]. Industry Impact - Phoenix Optical's move to establish a base in Vietnam reflects the accelerating trend of Chinese optoelectronic companies "going global." With the restructuring of global supply chains, Vietnam is becoming a hotspot for manufacturing investment due to its labor cost advantages and favorable policies. This initiative may serve as a reference for peers in the industry and promote the internationalization process within the sector [6].

Group 1 - Libet has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds, valid for 12 months [1] - Dinglong plans to acquire an additional 8% stake in its subsidiary, increasing its ownership from 91.35% to 99.35% for a total price of 240 million yuan [1] - Longyuan Donggu has been designated as a supplier for a major automotive project, with an expected total sales amount of 450 to 500 million yuan over five years [14] Group 2 - Luoniushan reported a sales revenue of 100 million yuan in May, a year-on-year decrease of 11.45% [2] - Baoming Technology has secured a loan commitment of up to 7 million yuan for stock repurchase [2] - Xinhua Pharmaceutical has received approval for the listing of a new chemical raw material used in treating chronic heart failure and hypertension [3] Group 3 - China Minmetals announced a new contract amount of 396 billion yuan for the first five months of the year, a decrease of 22.2% year-on-year [7] - Zhongbei Communication's application for a specific stock issuance has been accepted by the Shanghai Stock Exchange [8] - Rongfa Nuclear Power plans to issue bonds not exceeding 1 billion yuan to repay debts and supplement working capital [9] Group 4 - Phoenix Optical plans to invest 8.5 million USD to establish a wholly-owned subsidiary in Vietnam for manufacturing optical products [11] - Xiamen Airport reported a passenger throughput of 2.4752 million in May, a year-on-year increase of 8.34% [12] - Weilan Biological has received a new veterinary drug registration certificate for a product aimed at treating canine allergies and inflammation [13] Group 5 - Shouxiangu has completed the registration of a health food product that claims to enhance immunity [13] - Xingye Yinxin's subsidiary has passed a resource reserve verification report, confirming significant mineral reserves [16] - Shaanxi Construction has won two major projects with a total contract value exceeding 2.8 billion yuan [18] Group 6 - Huari received a cash dividend of 50 million yuan from its subsidiary [20] - Zhongchu's deputy general manager has resigned due to governance arrangements [21] - Kexin Pharmaceutical's core product has received breakthrough therapy designation from the National Medical Products Administration [39]

凤凰光学股份有限公司 关于对外投资暨设立境外全资子公司的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、对外投资概述 证券代码：600071 证券简称：凤凰光学 公告编号：2025-019 投资标的名称: 凤凰光学（越南）有限公司（以下简称"越南公司"） （投资标的名称为暂定名，具体名称以主管部门最终核准名称为准）。 投资金额：850 万美元，折合人民币约 6000 万元 特别风险提示：本次对外投资事项尚需履行境内对境外投资的审批或备 案手续，以及越南当地投资许可和企业登记等审批或登记程序，能否顺 利实施存在一定的不确定性；本次对外投资的建设周期及规模等可能根 据外部环境变化、业务发展需要等情况作相应调整，且因境外国家及地 区政治、法律、经济、文化等环境与国内存在较大差异性，对外投资过 程中可能存在一定经营及管理风险，因此投资事项进展及效果能否达到 预期存在不确定性。敬请广大投资者注意投资风险。 并由越南公司投资建设越南生产基地，主要从事光电产品的制造和组装。 本次投资款总额 850 万美元（实际投资 ...

Core Viewpoint - The company plans to establish a wholly-owned subsidiary in Vietnam, Phoenix Optical (Vietnam) Co., Ltd., to invest in a manufacturing base for optoelectronic products with a total investment of $8.5 million [1] Group 1: Investment Details - The investment will be used for factory renovation, equipment procurement, and working capital [1] - The board of directors approved the investment plan on June 11, 2025, and authorized the management team to handle related matters [1] Group 2: Regulatory Requirements - The investment is subject to domestic approval or filing procedures for overseas investment, as well as local investment permits and business registration in Vietnam [1]

证券代码：600071 证券简称：凤凰光学 公告编号：2025—017 凤凰光学股份有限公司 关于为全资子公司提供担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示: 一、担保情况概述 2025 年 4 月 19 日，凤凰光学股份有限公司（以下简称"公司"）第九届董事会 第八次会议审议通过了《关于 2025 年度对外担保预计的议案》，同意公司为下属子 公司凤凰科技、凤凰新能源与各金融机构建立综合授信关系提供连带责任担保，担保 总额不超过人民币 27,831.86 万元（其中：为中电海康集团有限公司委托贷款提供不 超过 10,000 万元担保），具体内容详见公司于 2025 年 4 月 22 日在《上海证券报》 和上海证券交易所（www.sse.com.cn）上披露的《关于 2025 年度对外担保预计的公 告》（公告编号：2025-008）。上述事项已经公司 2024 年年度股东大会审议通过。 2025 年 6 月 9 日，中电海康集团有限公司（以下简称"中电海康"）、中国电 子科技财务有限公司（以下 ...