Core Viewpoint - The company announced the completion of a share buyback plan by its controlling shareholders, which involved significant investments and increased their ownership stake in the company [1][7]. Summary by Sections 1. Buyback Plan Disclosure - The company disclosed a buyback plan on December 19, 2024, where its controlling shareholder, North Optical Group Co., Ltd. (光电集团), and its action-in-concert party, Zhongbing Investment Management Co., Ltd. (中兵投资), planned to increase their holdings through the Shanghai Stock Exchange within 12 months, with each intending to invest 50 million yuan [1][4]. 2. Implementation Results of the Buyback Plan - As of November 18, 2025, the buyback plan was completed, with 光电集团 and 中兵投资 collectively acquiring 6,906,134 shares, representing 1.19% of the total share capital, for a total investment of 100.0185 million yuan [7][8]. - 光电集团 purchased 3,514,534 shares (0.60% of total shares) for 50.0106 million yuan, while 中兵投资 acquired 3,391,600 shares (0.58% of total shares) for 50.0079 million yuan [7][6]. 3. Shareholding Structure Post-Buyback - After the buyback, the total shareholding of the buyback parties and their concerted actions amounted to 296,157,700 shares, which is 50.82% of the total share capital. The breakdown includes 光电集团 holding 122,997,007 shares (21.11%), 中兵投资 holding 110,156,943 shares (18.90%), and 华光公司 holding 63,003,750 shares (10.81%) [5][6]. 4. Legal Compliance - The buyback plan and actions were confirmed to comply with relevant laws and regulations, including the Securities Law of the People's Republic of China and the Management Measures for the Acquisition of Listed Companies [8][9].

Core Points - The company announced a share buyback plan by its controlling shareholder and an associated party, intending to increase their holdings in the company over a 12-month period starting December 19, 2024 [1] - The total amount planned for the buyback is 100 million yuan, with both the controlling shareholder and the associated party each planning to invest 50 million yuan [1] - As of November 18, 2025, the buyback plan has been completed, with a total of 6,906,134 shares acquired, representing 1.19% of the company's total share capital, and a total investment of 100.0185 million yuan [1] Summary by Categories Shareholder Actions - The controlling shareholder, Northern Optoelectronics Group Co., Ltd., and its associated party, Zhongbing Investment Management Co., Ltd., are set to increase their shareholdings [1] - The controlling shareholder acquired 3,514,534 shares, approximately 0.60% of the total share capital, with an investment of 50.0106 million yuan [1] - The associated party acquired 3,391,600 shares, approximately 0.58% of the total share capital, with an investment of 50.0079 million yuan [1] Financial Impact - The total investment for the share buyback reached 100.0185 million yuan, reflecting a strategic move to bolster confidence in the company's stock [1] - The completion of the buyback plan indicates a commitment from the controlling entities to support the company's market position [1]

陕西岚光律师事务所关于北方光电股份有限公司 控股股东及一致行动人增持股份之专项核查意见 致：北方光电股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司收购管理办法》（以下简 称"《收购管理办法》"）等法律、行政法规和规范性文件，陕西岚光律师事务所 （以下简称"本所"）接受北方光电股份有限公司（以下简称"光电股份"或"公 司"）的委托，就光电股份控股股东北方光电集团有限公司（以下简称"光电集团" 或"增持人"）、控股股东之一致行动人中兵投资管理有限责任公司（以下简称"中 兵投资"或"增持人"）增持公司股份事宜（以下简称"本次增持"）涉及的相关 事项出具专项核查意见。 为出具本核查意见，本所律师依据法律、法规和规范性文件的相关规定及本核 查意见出具日以前已经发生或者存在的事实，就本次增持事宜进行了充分核查验证， 保证本核查意见不存在虚假记载、误导性陈述或者重大遗漏，并愿意承担相应的法 律责任。 本所律师同意将本核查意见作为本次增持的必备法律文件予以公告，并依法对 本核查意见承担相应的责任。 本所律师按照律师行业公认的业务标准、道德 ...

Group 1 - The core point of the article is that Guangdian Co., Ltd. has completed its stock repurchase plan, with significant investments made by Guangdian Group and Zhongbing Investment [1] - As of November 18, 2025, the total number of shares repurchased amounts to 6.9061 million, representing 1.19% of the company's total share capital [1] - The total investment made in the stock repurchase is approximately 100.0185 million yuan [1]

证券代码：600184 证券简称：光电股份 公告编号：2025-57 北方光电股份有限公司控股股东及一致行动人 增持计划实施完毕暨增持结果的公告 本公司董事会、全体董事及相关股东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： 已披露增持计划情况：北方光电股份有限公司（以下简称"公司"）于 2024 年 12 月 19 日披露了临 2024-42 号《关于控股股东及其一致行动人增持计划的公告》， 公司控股股东北方光电集团有限公司（以下简称"光电集团"）、控股股东的一致行 动人中兵投资管理有限责任公司（以下简称"中兵投资"）拟自 2024 年 12 月 19 日 起 12 个月内通过上海证券交易所交易系统以集中竞价或大宗交易方式增持公司股份， 其中光电集团拟增持金额为 5,000 万元，中兵投资拟增持金额为 5,000 万元。 增持计划的实施结果：截至 2025 年 11 月 18 日，本次增持计划已实施完毕。 光电集团及中兵投资累计增持公司股票 6,906,134 股，占公司总股本 1.19%，累计增 持金额 10,001.85 万元 ...

Market Overview - The ground equipment sector experienced a decline of 3.64% on November 18, with North China Long Dragon leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Notable stock performances included: - Tianzuo Equipment (300922) rose by 1.69% to a closing price of 24.60 [1] - North China Long Dragon (301357) fell by 11.59% to a closing price of 155.39, with a trading volume of 103,200 shares and a turnover of 1.665 billion [2] - Other significant declines included: - Great Wall Military Industry (601606) down 2.48% to 52.22 [1] - Inner Mongolia First Machinery (600967) down 5.95% to 17.86, with a turnover of 1.222 billion [2] Capital Flow - The ground equipment sector saw a net outflow of 1.346 billion from institutional investors, while retail investors contributed a net inflow of 1.008 billion [2] - The capital flow for individual stocks showed: - North China Long Dragon had a net outflow of 942.618 million from institutional investors [3] - Tianzuo Equipment experienced a net outflow of 456.91 million from institutional investors [3] Summary of Individual Stocks - The following stocks had significant capital movements: - North China Long Dragon: -9426.18 million from institutional investors, +4090.67 million from retail investors [3] - ST Emergency (300527): -4027.04 million from institutional investors, +1975.98 million from retail investors [3] - Great Wall Military Industry: -1844.90 million from institutional investors, +1591.43 million from retail investors [3]

Core Viewpoint - The company, Kunshan Longteng Optoelectronics Co., Ltd., is set to hold a Q3 2025 performance briefing on November 25, 2025, to discuss its operational results and financial status with investors [2][5]. Group 1: Event Details - The performance briefing will take place on November 25, 2025, from 15:00 to 16:00 [5]. - The event will be conducted in an interactive online format via the Shanghai Stock Exchange Roadshow Center [3][5]. - Investors can submit questions from November 18 to November 24, 2025, through the designated online platform or via the company's investor relations email [2][6]. Group 2: Participants - Key participants in the briefing will include the company's Vice General Manager and Board Secretary, Mr. Cai Zhicheng, along with other senior management members [4]. - The company has indicated that participant adjustments may occur due to special circumstances [4]. Group 3: Contact Information - Investors can reach the company’s Board Secretary Office for inquiries at the phone number 0512-57278888 or via the email address Ltdmb@ivo.com.cn [6]. - Post-event, the details and main content of the briefing will be available on the Shanghai Stock Exchange Roadshow Center [6].

Core Insights - The ground armament sector experienced a significant increase of 6.22% on November 17, with North China Changlong leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - North China Changlong (301357) saw a closing price of 175.77, with a remarkable increase of 19.57% and a trading volume of 131,200 shares, amounting to a transaction value of 2.198 billion [1] - Great Wall Military Industry (601606) closed at 53.55, up 10.00%, with a trading volume of 509,100 shares, totaling 2.723 billion [1] - Jieqiang Equipment (300875) closed at 49.51, up 9.83%, with a trading volume of 129,300 shares, resulting in a transaction value of 635 million [1] - Inner Mongolia First Machinery (600967) closed at 18.99, up 7.90%, with a trading volume of 1,013,200 shares, totaling 1.910 billion [1] - Other notable performers include Yuan Ke Shi Gong (688543) with a 4.62% increase, and Zhongbing Hongjian (000519) with a 3.49% increase [1] Capital Flow - The ground armament sector saw a net inflow of 1.356 billion from institutional investors, while retail investors experienced a net outflow of 629 million [1] - Great Wall Military Industry (601606) had a net inflow of 866.67 million from institutional investors, but a net outflow of 531.00 million from retail investors [2] - Inner Mongolia First Machinery (600967) recorded a net inflow of 152 million from institutional investors, with retail investors showing a net outflow of 76.49 million [2] - Zhongbing Hongjian (000519) had a net inflow of 66.07 million from institutional investors, while retail investors experienced a net outflow of 32.47 million [2]

Core Viewpoint - The defense and military industry is expected to experience another upward trend due to multiple influencing factors, including geopolitical risks, technological advancements, and policy support [1]. Group 1: Market Performance - The military sector has continued its strong performance, with notable stocks such as Aerospace Development (000547) and Great Wall Military (601606) showing significant gains, including a net inflow of 1.828 billion yuan [1]. - The average stock price increase for military concept stocks this year is 30.94%, with North China Long Dragon leading with a 342.24% increase [2]. - Six military concept stocks have received institutional research attention in November, indicating strong interest from investors [2]. Group 2: Company Performance - Major companies in the military sector, including China Shipbuilding (600150) and AVIC Chengfei (302132), reported net profits exceeding 1 billion yuan in the first three quarters [3]. - Several companies, such as Zhenray Technology and North China Long Dragon, have turned losses into profits, with some achieving over 100% year-on-year profit growth [3]. - Institutions predict that nine military stocks will see significant profit increases by 2025, with expected growth rates exceeding 100% [3]. Group 3: Future Outlook - The military industry is poised to benefit from rising geopolitical risks, modernization goals, and expanding military trade markets, with high-end weapon exports expected to increase [1]. - Technological innovations, such as 3D printing and recyclable rockets, are anticipated to drive growth in the sector [1].

Core Viewpoint - Hubei Wufang Optoelectronics Co., Ltd. announced the completion of a share reduction plan by its controlling shareholder's concerted actor, Wufang Qunxing, which involved a reduction of up to 2,688,400 shares, accounting for 0.93% of the total share capital after excluding shares in the company's repurchase account [1][2]. Shareholder Reduction Situation - The shares reduced were sourced from the company's pre-IPO shares, with a reduction price range between 14.76 yuan/share and 15.79 yuan/share [2]. - The reduction plan was executed within the specified timeframe from August 15, 2025, to November 14, 2025, and the actual reduction was consistent with the previously disclosed plan [3][4]. Compliance and Impact - The share reduction adhered to relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China, and did not violate any commitments [3]. - The reduction will not lead to a change in the company's control or significantly impact its governance structure and ongoing operations [4]. Documentation - The company has made available the notice from Wufang Qunxing regarding the completion of the share reduction plan [5].