Core Viewpoint - *ST Jinglun (sh600355) reached the daily limit with a price of 3.57 yuan, a 5% increase, and a total market capitalization of 1.757 billion yuan, driven by expectations surrounding its upcoming Q3 report and the overall market interest in smart manufacturing and identity recognition sectors [1] Group 1: Company Performance - The company specializes in smart manufacturing, identity recognition, and IoT charging products, which are gaining market competitiveness as demand increases in these sectors [1] - The upcoming Q3 report, scheduled for release on October 24, 2025, has led to positive market expectations regarding the company's performance, attracting investor attention [1] - Significant capital inflow into *ST Jinglun was noted, indicating strong market confidence in the stock [1] Group 2: Market Trends - The smart manufacturing and IoT sectors are currently favored by the market, contributing to the active performance of related stocks, including *ST Jinglun [1] - Technical indicators, such as the MACD, show an upward trend for the stock, suggesting strong upward momentum as it breaks through short-term resistance levels [1]

一、交易概述 证券代码：600355 证券简称：*ST 精伦 公告编号：临 2025-031 控股股东向精伦电子股份有限公司 提供免息借款暨关联交易的公告 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： ●精伦电子股份有限公司（以下简称"公司"）控股股东张学阳先生拟向公 司提供 3,000 万元人民币借款，借款期限自 2025 年 10 月 1 日起至 2025 年 12 月 31 日止，借款利率为 0%，本次借款事项无需提供担保。 ●本次交易构成关联交易，但不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。 ●根据《上海证券交易所股票上市规则》的相关规定，本次交易事项可免 于按照关联交易方式进行审议和披露。本次借款事项已经公司第九届董事会第七 次会议审议通过，关联董事张学阳先生已回避表决。该议案已经公司第九届董事 会独立董事专门会议事前审议通过。该议案无需提交公司股东大会审议。 1.本次交易的基本情况 公司控股股东张学阳先生为支持公司经营发展，向公司提供流动资金借款 3,000 万元人民币，借款利息 ...

Core Insights - The communication equipment sector experienced a rise of 0.54% on October 9, with GuoDun Quantum leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Summary by Category Stock Performance - GuoDun Quantum (688027) closed at 398.79, with a significant increase of 13.62% and a trading volume of 64,800 shares, amounting to a transaction value of 2.581 billion [1] - Guanghe Tong (300638) saw a rise of 10.77%, closing at 33.64 with a trading volume of 926,600 shares, totaling 3.101 billion [1] - Other notable performers included: - Shijia Technology (002796) up 9.99% at 21.46 [1] - Yongding Co. (600105) up 9.99% at 13.98 [1] - ZTE Corporation (000063) up 9.51% at 49.98 with a trading volume of 4,508,700 shares, totaling 22.121 billion [1] Market Trends - The overall communication equipment sector saw a net outflow of 804 million from institutional funds, while retail investors contributed a net inflow of 1.257 billion [2] - The sector's performance indicates a mixed sentiment among different types of investors, with retail investors showing confidence despite institutional outflows [2]

Market Performance - On September 29, the communication equipment sector rose by 1.31%, with Sanwang Communication leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Individual Stock Performance - Notable performers included: - Sanwang Communication (688618) with a closing price of 26.97, up 7.11% on a trading volume of 33,500 shares [1] - Kunheng Shunwei (688283) closed at 33.49, up 6.69% with a volume of 29,500 shares [1] - Youfang Technology (651889) at 71.85, up 6.65% with a volume of 75,400 shares [1] - Other significant gainers included Shijia Technology (002796), ST Jinglun (600355), and Guangku Technology (300620) [1] Capital Flow Analysis - The communication equipment sector experienced a net outflow of 1.666 billion yuan from institutional investors and 153 million yuan from speculative funds, while retail investors saw a net inflow of 1.819 billion yuan [2] - Key stocks with significant capital flow included: - New Yisheng (300502) with a net inflow of 500 million yuan from institutional investors, but a net outflow of 322 million yuan from speculative funds [2] - Other stocks like Guangku Technology (300620) and Dekeli (688205) also showed mixed capital flows [2]

Core Insights - The article highlights a trend of decreasing shareholder accounts among 803 companies, indicating a concentration of shares. Notably, 110 companies have seen a decline in shareholder accounts for more than three consecutive periods, with some like ST Huawen experiencing a drop for 12 periods, totaling a 14.42% decrease [1]. Group 1: Shareholder Account Trends - A total of 803 companies reported their latest shareholder account numbers as of September 10, with 110 companies showing a continuous decline for over three periods [1]. - ST Huawen has the highest decline, with 63,064 accounts, down 14.42% over 12 periods, while *ST Jinglun has 39,050 accounts, down 36.88% over 11 periods [1]. - Other companies with significant declines include Guotou Fengle, Su Yan Jingshen, and Dongfang Yuhong, indicating a broader trend of share concentration [1]. Group 2: Market Performance - Among the companies with declining shareholder accounts, 43 saw their stock prices increase, while 67 experienced declines. Notable gainers include Yanshang Yanshang, *ST Qingyan, and Dongfang Yuhong, with increases of 65.56%, 37.28%, and 31.03% respectively [2]. - 22 companies outperformed the Shanghai Composite Index, representing 20% of the declining shareholder accounts group, with Yanshang Yanshang, *ST Qingyan, and Lijure Neng showing relative returns of 57.48%, 28.43%, and 23.40% [2]. Group 3: Industry and Institutional Interest - The industries with the highest concentration of companies experiencing declining shareholder accounts include machinery equipment, basic chemicals, and pharmaceutical biology, with 21, 12, and 10 companies respectively [2]. - In terms of institutional interest, 17 companies with declining shareholder accounts were investigated by institutions in the past month, with Donggang Co., Dalian Heavy Industry, and Tengya Precision Engineering receiving the most attention [2].

Group 1 - The article highlights that 165 companies reported their latest shareholder numbers as of September 10, with 31 companies experiencing a continuous decline in shareholder numbers for more than three periods, indicating a trend of concentrated holdings [1][2] - Among the companies with declining shareholder numbers, *ST Jinglun has seen a decrease for 11 consecutive periods, with a total decline of 36.88%, while Ha Han Hu Tong has decreased for 7 periods with a decline of 25.44% [1][2] - The companies with the largest recent declines in shareholder numbers include Xianfeng Electronics, Shaoyang Hydraulic, and Tianhe Defense, with decreases of 10.00%, 6.18%, and 4.65% respectively [1][2] Group 2 - In terms of market performance, 11 companies with declining shareholder numbers have seen their stock prices rise, while 20 have experienced declines, with *ST Jinglun, Changshan Pharmaceutical, and Yalian Machinery showing significant increases of 32.96%, 15.79%, and 14.01% respectively [2][3] - The industries with the most companies experiencing declining shareholder numbers include machinery equipment, pharmaceuticals, and national defense, with 10, 4, and 3 companies respectively [2] - Institutional interest has been noted, with 7 companies among those with declining shareholder numbers receiving institutional research in the past month, particularly Hai De Control and Guilin Sanjin, which were researched 2 times each [2]

Group 1 - The article highlights a trend of decreasing shareholder accounts among 773 companies, with 113 companies experiencing a decline for more than three consecutive periods, indicating a concentration of shares [1] - Notable companies with significant declines in shareholder accounts include ZTE Corporation, which has seen a decrease of 21.09% over 13 periods, and Tianhe Co., which has decreased by 24.50% over 12 periods [1] - Companies with the largest recent declines in shareholder accounts include Yalian Machinery (-25.51%), Igor (-21.80%), and Naipu Mining (-16.69%) [1] Group 2 - Among the companies with declining shareholder accounts, 62 have seen their stock prices rise, while 51 have experienced declines, with Haichen Pharmaceutical, Filinger, and ST Kevin showing notable increases of 68.87%, 57.56%, and 35.13% respectively [2] - 28 companies, or 24.78%, outperformed the Shanghai Composite Index during this period, with Haichen Pharmaceutical, Filinger, and ST Kevin achieving relative returns of 56.24%, 50.87%, and 27.27% respectively [2] - The industries with the highest concentration of companies experiencing declining shareholder accounts include basic chemicals, machinery equipment, and pharmaceutical biology, with 13, 13, and 10 companies respectively [2] Group 3 - In terms of institutional interest, 12 companies with declining shareholder accounts were investigated by institutions in the past month, with notable frequency in investigations for Zhongqi Co., Kairun Co., and Opcon Vision, receiving 4, 3, and 2 inquiries respectively [2] - The companies with the highest number of institutional participants in their investigations include Kairun Co. (50 institutions), Xinbao Co. (38 institutions), and Naipu Mining (32 institutions) [2]

Market Overview - The Shanghai Composite Index closed at 3819.32 points, with a gain of 0.32%, and the total trading volume of A-shares reached 1,641.14 billion yuan [1] - As of the current date, 29 A-shares have surpassed their annual moving average, indicating positive market sentiment [1] Notable Stocks - The stocks with the highest deviation rates from their annual moving average include: - Luopuskin (002333) with a deviation rate of 8.13% and a daily increase of 9.94% [1] - ST Huaxi (002630) with a deviation rate of 4.11% and a daily increase of 4.88% [1] - Wutong Holdings (300292) with a deviation rate of 3.67% and a daily increase of 5.35% [1] - Other stocks that have just crossed their annual moving average with lower deviation rates include: - Jiecheng Co. (300182) with a deviation rate of 0.04% and a daily increase of 1.60% [2] - Ganyue Expressway (600269) with a deviation rate of 0.05% and a daily increase of 0.40% [2] - Guangsha Huaneng (873703) with a deviation rate of 0.06% and a daily increase of 0.96% [2] Trading Activity - The trading turnover rate for notable stocks shows significant activity, with Luopuskin (002333) having a turnover rate of 3.79% and ST Huaxi (002630) at 6.77% [1] - The overall trading environment reflects a mix of high and low turnover rates among stocks that have recently crossed their annual moving averages [1][2]

Core Insights - The article highlights a trend of decreasing shareholder accounts among 631 companies, indicating a concentration of shares among fewer investors [1][2] - Notable companies with significant declines in shareholder accounts include ZTE Corporation and Tianhe Co., with reductions of 21.09% and 24.50% respectively [1][2] - The article also discusses the stock performance of companies with declining shareholder accounts, noting that 47 stocks have risen while 54 have fallen, with Hai Chen Pharmaceutical showing the highest increase at 73.17% [2][3] Company Analysis - ZTE Corporation has the highest number of shareholder accounts at 428,391, having decreased for 13 consecutive periods, with a total decline of 21.09% [1][3] - Tianhe Co. has 23,874 shareholder accounts, down 24.50% over 12 periods [1][5] - Other companies with notable declines include Yalian Machinery, Igor, and Naipu Mining, with decreases of 25.51%, 21.80%, and 16.69% respectively [1][2] Stock Performance - Among the companies with declining shareholder accounts, Hai Chen Pharmaceutical, Zhengye Technology, and *ST Jinglun have shown significant stock price increases of 73.17%, 31.06%, and 30.71% respectively [2][3] - 22 out of the companies with decreasing shareholder accounts outperformed the Shanghai Composite Index, with Hai Chen Pharmaceutical achieving a relative return of 60.54% [2][3] Industry Insights - The industries with the highest concentration of companies experiencing declining shareholder accounts include basic chemicals, machinery equipment, and pharmaceutical biology, with 12, 10, and 9 companies respectively [2][3] - The majority of the companies with declining shareholder accounts are listed on the main board, with 60 companies compared to 41 on the Growth Enterprise Market [2][3] Institutional Activity - Eight companies with declining shareholder accounts have been subject to institutional research in the past month, with notable frequency in companies like Zhongqi Co., Naipu Mining, and Kairun Co. [2][3] - The companies with the highest number of institutional participants in research include Kairun Co. (50 institutions), Xinbao Co. (38 institutions), and Yaben Chemical (35 institutions) [2][3]

Core Viewpoint - The continuous decline in the number of shareholders for certain companies indicates a trend of increasing concentration of shares, with 82 companies experiencing a decrease for more than three consecutive periods, and some like ZTE Corporation seeing a drop for 13 consecutive periods [1]. Group 1: Shareholder Trends - A total of 460 companies reported their latest shareholder numbers as of August 31, with ZTE Corporation having 428,391 shareholders, a cumulative decrease of 21.09% over 13 periods [1]. - Tianhe Co., Ltd. has seen a continuous decline for 12 periods, with the latest number of shareholders at 23,874, reflecting a cumulative decrease of 24.50% [1]. - Other companies with significant declines include Huaping Co., ST Huawen, and *ST Jinglun, indicating a broader trend of shareholder concentration [1]. Group 2: Market Performance - Among the companies with declining shareholder numbers, 33 saw their stock prices rise, while 49 experienced declines, with notable increases for Haichen Pharmaceutical (58.39%), ZTE Corporation (35.58%), and *ST Jinglun (31.09%) [2]. - 13 companies outperformed the Shanghai Composite Index during this period, with Haichen Pharmaceutical, ZTE Corporation, and *ST Jinglun showing relative returns of 45.72%, 19.19%, and 18.27% respectively [2]. Group 3: Industry Distribution - The industries with the highest concentration of companies experiencing declining shareholder numbers include machinery, pharmaceuticals, and basic chemicals, with 9, 7, and 7 companies respectively [2]. - The main board has 43 companies with declining shareholder numbers, while the ChiNext board has 39 [2]. Group 4: Institutional Interest - In the past month, 7 companies with declining shareholder numbers were subject to institutional research, with Zhongqi Co., Opcon Vision, and Naipu Mining receiving 3, 2, and 2 research visits respectively [2]. - The companies with the highest number of institutional participants in research include Kairun Co. (50), Xinbao Co. (38), and Naipu Mining (32) [2].