1 70.00 元/股（含）调整为不超过人民币 69.95 元/股（含）。具体内容详见公司分别 于 2025 年 1 月 24 日、2025 年 2 月 11 日与 2025 年 6 月 18 日在上海证券交易所网 站（www.sse.com.cn）披露的《第八届董事会第十九次临时会议决议公告》《关于 以集中竞价交易方式回购股份方案的公告》《2025 年第一次临时股东大会决议公 告》《关于实施 2024 年年度权益分派后调整回购价格上限的公告》（公告编号： 2025-004、2025-005、2025-009、2025-049）。 证券代码：600363 证券简称：联创光电 公告编号：2025-086 江西联创光电科技股份有限公司 关于回购股份实施结果暨控股股东持股权益被动变动 超过 1%刻度的提示性公告 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。 | 回购方案首次披露日 | 2025/1/24 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 202 ...

Core Viewpoint - Lianchuang Optoelectronics (600363.SH) has completed its share repurchase plan, acquiring a total of 2.626 million shares, which represents approximately 0.5790% of the company's current total share capital [1] Summary by Relevant Categories Share Repurchase Details - The company has repurchased shares through the Shanghai Stock Exchange trading system via centralized bidding [1] - The highest price for the repurchased shares was 62.00 CNY per share, while the lowest price was 53.44 CNY per share [1] - The average repurchase price was 56.90 CNY per share [1] - The total amount spent on the repurchase was 149 million CNY, excluding transaction fees such as stamp duty and commissions [1]

Market Overview - The consumer electronics sector experienced a decline of 3.35% on November 11, with Yitian Co. leading the drop [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Notable gainers in the consumer electronics sector included: - Shiwai Dama (301626) with a closing price of 175.47, up 14.63% [1] - Xiangying Technology (301067) at 46.14, up 11.99% [1] - Aoni Electronics (301189) at 34.96, up 6.94% [1] - Major decliners included: - Yitian Co. (300812) at 27.17, down 5.50% [2] - Luyou Technology (301606) at 61.80, down 5.01% [2] - Industrial Fulian (601138) at 68.03, down 4.85% [2] Capital Flow - The consumer electronics sector saw a net outflow of 4.807 billion yuan from institutional investors, while retail investors contributed a net inflow of 4.338 billion yuan [2] - The capital flow for specific stocks showed: - Victory Precision (002426) had a net inflow of 101 million yuan from institutional investors [3] - Suzhou Tianmai (301626) saw a net inflow of 96.465 million yuan [3] - Common Electric Sound (002655) experienced a net outflow of 62.7125 million yuan from retail investors [3]

Market Overview - The superconducting concept sector declined by 1.24%, ranking among the top losers in the market, with notable declines from companies such as Dongfang Tantalum and Western Superconducting [1] - In contrast, the dairy industry saw a gain of 4.36%, leading the market in positive performance [1] Key Stocks Performance - Major decliners in the superconducting sector included: - Dongfang Tantalum, which hit the daily limit down of 9.99% - Western Superconducting, down by 4.32% - Antai Technology, down by 2.62% [1][2] - Conversely, stocks that performed well included: - Baiyin Nonferrous, which increased by 4.76% - Astone Technology, up by 1.43% - Lianchuang Optoelectronics, rising by 1.40% [1][2] Capital Flow Analysis - The superconducting sector experienced a net outflow of 1.233 billion yuan, with 19 stocks seeing net outflows, and 5 stocks exceeding 100 million yuan in outflows [1] - The largest net outflow was from Western Superconducting, totaling 380 million yuan, followed by Antai Technology and Dongfang Tantalum with outflows of 232 million yuan and 193 million yuan, respectively [1][2] - On the other hand, Baiyin Nonferrous and CITIC Metals saw significant net inflows of 183 million yuan and 2.187 million yuan, respectively [2]

Core Insights - The report from Zheshang Securities indicates that Lianchuang Optoelectronics experienced a year-on-year revenue growth of 3% and a net profit attributable to shareholders growth of 19% in the first three quarters of 2025 [1] - In Q3, the net profit attributable to shareholders was 140 million yuan, reflecting a year-on-year increase of 28% but a quarter-on-quarter decrease of 7% [1] - The company is focusing on its "laser + superconducting" business, which is expected to open up long-term growth opportunities [1] Financial Performance - Total operating revenue and net profit attributable to shareholders for the first three quarters of 2025 grew by 3% and 19% respectively [1] - The net profit for Q3 was 140 million yuan, showing a year-on-year increase of 28% and a quarter-on-quarter decrease of 7% [1] Industry Outlook - Lianchuang Optoelectronics is expected to benefit from the domestic controlled nuclear fusion project tenders, as magnets represent the most valuable single item in nuclear fusion equipment, accounting for approximately 28% of the construction cost of engineering verification piles [1] - Numerous domestic controlled nuclear fusion projects are under construction in 2025, with a peak construction period anticipated in the coming years [1] Growth Projections - The company is projected to achieve net profits attributable to shareholders of 500 million, 620 million, and 780 million yuan for the years 2025, 2026, and 2027 respectively [1] - The compound annual growth rate (CAGR) from 2024 to 2027 is expected to be 47% [1] - Corresponding price-to-earnings ratios (PE) are forecasted to be 54, 44, and 35 times for the years 2025, 2026, and 2027 respectively [1]

证券代码：600363 证券简称：联创光电 编号：2025-085 江西联创光电科技股份有限公司 关于控股股东部分股权解除质押并再质押的公告 一、股份被解除质押情况 本次解除质押股份部分将用于继续办理后续质押。 1 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： 江西联创光电科技股份有限公司（以下简称"公司"或"本公司"）控股股 东江西省电子集团有限公司（以下简称"电子集团"）持有公司股份数量为 94,736,092 股，占公司总股本比例为 20.89%；本次解除质押并再质押后，累计质 押股份数量为 75,732,839 股，占其所持有公司股份总数的 79.94%，占公司总股 本的 16.70%。 公司于近日接到控股股东电子集团通知，获悉其将所持有本公司的部分股份 解除质押并再质押，具体事项如下： | 股东名称 | 江西省电子集团有限公司 | | --- | --- | | 本次解除质押股份（股） | 500,000 | | 占其所持股份比例 | 0.53% | | 占公司总股本比例 | 0.11% | ...

Core Points - The Shanghai Composite Index is at 3970.29 points with a change of 0.26%, and the total trading volume of A-shares is 1,534.396 billion yuan [1] - A total of 80 A-shares have seen their 5-day moving average cross below the 10-day moving average, indicating potential bearish trends [1] Summary of Companies - **Beifang Copper (000737)**: Today's change is +0.41%, with a 5-day moving average of 15.35 yuan, which is -1.96% lower than the 10-day moving average of 15.66 yuan [1] - **Huali Co., Ltd. (603038)**: Today's change is +2.30%, with a 5-day moving average of 20.29 yuan, which is -1.81% lower than the 10-day moving average of 20.67 yuan [1] - **Suotong Development (603612)**: Today's change is +2.12%, with a 5-day moving average of 24.45 yuan, which is -1.61% lower than the 10-day moving average of 24.85 yuan [1] - **New Lai Materials (300260)**: Today's change is +0.34%, with a 5-day moving average of 58.73 yuan, which is -1.55% lower than the 10-day moving average of 59.65 yuan [1] - **Lianchuang Optoelectronics (600363)**: Today's change is -0.29%, with a 5-day moving average of 61.53 yuan, which is -1.33% lower than the 10-day moving average of 62.36 yuan [1] - **Guangfa Securities (000776)**: Today's change is +0.27%, with a 5-day moving average of 22.61 yuan, which is -1.26% lower than the 10-day moving average of 22.90 yuan [1] - **China Electric Research (688128)**: Today's change is +0.77%, with a 5-day moving average of 31.90 yuan, which is -1.20% lower than the 10-day moving average of 32.29 yuan [1] - **StarNet (002396)**: Today's change is -0.73%, with a 5-day moving average of 26.52 yuan, which is -1.01% lower than the 10-day moving average of 26.79 yuan [1] - **Shan Zi Gaoke (000981)**: Today's change is +1.84%, with a 5-day moving average of 3.94 yuan, which is -0.93% lower than the 10-day moving average of 3.98 yuan [1] - **ST Weier (002058)**: Today's change is +1.78%, with a 5-day moving average of 25.25 yuan, which is -0.92% lower than the 10-day moving average of 25.49 yuan [1] - **Titan Chemical (002145)**: Today's change is +2.80%, with a 5-day moving average of 5.51 yuan, which is -0.85% lower than the 10-day moving average of 5.56 yuan [1] - **Hank Technology (688006)**: Today's change is +2.84%, with a 5-day moving average of 31.95 yuan, which is -0.82% lower than the 10-day moving average of 32.21 yuan [1] - **Inner Mongolia First Machinery (600967)**: Today's change is +0.60%, with a 5-day moving average of 18.61 yuan, which is -0.80% lower than the 10-day moving average of 18.76 yuan [1] - **Liangjiu 12 (301592)**: Today's change is -0.24%, with a 5-day moving average of 124.73 yuan, which is -0.77% lower than the 10-day moving average of 125.69 yuan [1] - **Zhongwu Robotics (688297)**: Today's change is +0.06%, with a 5-day moving average of 47.82 yuan, which is -0.77% lower than the 10-day moving average of 48.19 yuan [1] - **Chihong Zn & Ge (600497)**: Today's change is +0.62%, with a 5-day moving average of 6.63 yuan, which is -0.76% lower than the 10-day moving average of 6.68 yuan [1] - **Dadi (688077)**: Today's change is -0.27%, with a 5-day moving average of 34.01 yuan, which is -0.74% lower than the 10-day moving average of 34.26 yuan [1]

Summary of Conference Call on Thorium Molten Salt Reactor (TMSR) and Nuclear Power Industry Industry Overview - The conference call focused on the advancements in the nuclear power sector, particularly the development of fourth-generation nuclear technologies, including Thorium Molten Salt Reactors (TMSR) [1][2][4]. Key Points and Arguments - **Fourth-Generation Nuclear Technology**: - Fourth-generation reactors utilize coolants such as helium, sodium, or molten salt, enhancing safety and suitability for Small Modular Reactors (SMR) [1][3][4]. - TMSR operates by converting Thorium-232 into Uranium-233 for fission, effectively utilizing Thorium resources, with one ton of Thorium generating energy equivalent to hundreds of tons of oil or coal [1][4]. - **Environmental and Safety Advantages**: - TMSR reduces radioactive waste by 90% compared to traditional reactors, improving resource utilization and safety [1][6]. - The reactor's inherent safety features include rapid solidification of molten salt at room temperature, preventing leakage incidents [6]. - **China's Development Plans**: - China began constructing a 2 MW TMSR experimental reactor in 2020, aiming for full power operation in 2024 and completion of Thorium to Uranium conversion by 2025 [1][7]. - Plans are in place to establish a 100 MW demonstration plant by 2035, primarily located in Gansu Province [1][7]. - **Market Opportunities**: - Companies with diversified technology portfolios, such as HaiLu Heavy Industry, Zhonghe Technology, and LanShi Heavy Industry, are recommended for investment due to their involvement in various reactor technologies [2]. - The upcoming bidding opportunities in Hefei and Jiangxi for reactor components and projects are significant, with potential orders for companies like LianChuang Optoelectronics and GuoGuang Electric [3][10]. Additional Important Content - **Technical Challenges**: - TMSR faces challenges such as radiation protection in high-temperature fluids, high-temperature corrosion, and potential pipeline blockages due to unexpected solidification [8]. - Ongoing development is required for control and safety systems, as well as for key equipment [8]. - **Industry Participants**: - Key suppliers for fourth-generation reactor equipment include Shanghai Electric, China National Nuclear Corporation, and HaiLu Heavy Industry, with significant contributions from BaoSe Co. and others [9]. - **Future Catalysts**: - The fourth quarter is expected to see substantial bidding activities, with projects in Hefei and Jiangxi likely to drive growth in the sector [10].

Core Insights - The company, Lianchuang Optoelectronics, is positioned as a leader in high-temperature superconducting magnets, tapping into a future trillion-yuan industry through its subsidiary, Lianchuang Superconducting, which holds a 40% stake [1] Group 1: High-Temperature Superconducting Technology - Lianchuang Optoelectronics has a leading technology in high-temperature superconducting magnets, with applications in induction heating, magnetic control silicon crystal growth, controllable nuclear fusion, and electromagnetic catapults [1] - The company is the main contractor for the "Spark One" nuclear fusion-fission hybrid project in Jiangxi, with a total investment of 20 billion yuan, aiming to complete construction by the end of 2029 and achieve demonstration power generation by 2030 [1] Group 2: Commercial Aerospace and Electromagnetic Launch - The company has entered the commercial aerospace sector by investing 24 million yuan for a 30% stake in a joint venture focused on electromagnetic launch systems, leveraging its core high-temperature superconducting technology [2] - The joint venture aims to provide low-cost, high-frequency, and environmentally friendly commercial aerospace launch services [2] Group 3: Traditional Business Optimization - The company's traditional businesses, including smart controllers and backlight sources, are undergoing structural optimization, with smart control maintaining a stable position in the home appliance sector while expanding into high-margin areas like industrial control and automotive electronics [2] - The backlight source business has shifted focus from low-margin mobile phone applications to higher-value sectors, resulting in a revenue increase of 17.95% in the first half of 2025 [2] Group 4: Laser Products and Military Exports - There is a growing demand for anti-drone systems globally, particularly in conflict regions, leading to significant revenue growth in laser products, with a 176.87% increase in revenue from laser and traditional LED chips in the first half of 2025 [3] - The company has received export licenses for its "Light Blade" series products, which are expected to boost overseas military trade [3] Group 5: Financial Performance - The company reported a net profit of 400 million yuan in the first three quarters of 2025, marking a 19.37% increase, with a strong performance in the third quarter showing a 28.31% growth [3] - Investment income reached 384 million yuan, with contributions from joint ventures being a key driver of profit growth [3]

江西联创显示科技有限公司成立于2020年8月份，法定代表人为宋荣华，经营范围包括电子元器件制 造、电子专用材料销售、电子元器件批发等。股东信息显示，该公司由联创光电（600363）全资持股。 （文章来源：证券日报） 本报讯天眼查工商信息显示，近日，江西联创显示科技有限公司发生工商变更，注册资本由约5.9亿元 增至约8.3亿元。 ...