香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Yangtze Optical Fibre and Cable Joint Stock Limited Company* 長飛光纖光纜股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6869） 於二零二五年十月二十七日（星期一）舉行之 二零二五年第一次臨時股東大會之表決結果 茲提述長飛光纖光纜股份有限公司（「本公司」）有關二零二五年第一次臨時股東大 會（「臨時股東大會」）日期為二零二五年九月三十日的通知（「通知」）及通函（「通 函」）。除另有指明外，於本公告內所用詞彙應具有通知及通函所界定的相同涵義。 I. 臨時股東大會之表決結果 於臨時股東大會日期，賦予股東權利出席臨時股東大會及於會上投票的股份總數 為757,905,108股。概無股份賦予股東權利出席臨時股東大會但須根據上市規則第 13.40條所載於會上放棄就決議案投贊成票。概無股東於通函表明擬於臨時股東大 會上就決議案投反對票 ...

通 商 律師事務所 COMMERCE & FINANCE LAW OFFICES 中国北京建国门外大街 1 号国贸写字楼 2 座 12-14 层 100004 or, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 关于长飞光纤光缆股份有限公司 2025 年第一次临时股东大会的法律意见书 致:长飞光纤光缆股份有限公司 北京市通商律师事务所(以下简称"本所")接受长飞光纤光缆股份有限公司 (以下简称"公司")的委托,委派律师出席了公司 2025 年第一次临时股东大会(以 下简称"本次股东大会"),并根据《中华人民共和国公司法》《中华人民共和国证 券法》以及其他相关法律、法规及规范性文件(以下简称"相关法律法规")和《长 飞光纤光缆股份有限公司章程》(以下简称"公司章程")的相关规定,对本次股东 大会召开的合法性 ...

证券代码：601869 证券简称：长飞光纤 公告编号：临 2025-045 长飞光纤光缆股份有限公司 2025年第一次临时股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 662 | | --- | --- | | 其中：A 股股东人数 | 661 | | 境外上市外资股股东人数（H 股） | 1 | | 2、出席会议的股东所持有表决权的股份总数（股） | 331,871,930 | | 其中：A 股股东持有股份总数 | 310,724,049 | | 股） 境外上市外资股股东持有股份总数（H | 21,147,881 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 43.79 | | 份总数的比例（%） | | | 其中：A 股股东持股占股份总数的比例（%） | 41.00 | | 境外上市外资股股东持股占股份总数的比例（%） | 2.79 | (一) 股东大会召开的时间：2025 ...

Core Insights - Changfei Fiber's stock increased by 5.01% to 94.39 CNY per share, with a trading volume of 1.271 billion CNY and a turnover rate of 3.37%, resulting in a total market capitalization of 71.539 billion CNY [1] Company Overview - Changfei Fiber Optic Cable Co., Ltd. is located in Wuhan, Hubei Province, and was established on May 31, 1988, with its listing date on July 20, 2018 [1] - The company focuses on the telecommunications industry, particularly in areas related to telecom operators and data communication, specializing in the R&D and manufacturing of optical fiber preforms, optical fibers, and cables [1] - The company's revenue composition includes: 60.25% from optical transmission products, 22.61% from optical interconnection components, and 17.13% from other sources [1] Shareholder Insights - The top circulating shareholder of Changfei Fiber is the Caifeng Value Momentum Mixed A Fund (720001), which entered the top ten circulating shareholders in the second quarter with 1.6368 million shares, representing 0.22% of circulating shares [2] - The fund has achieved a year-to-date return of 63.95%, ranking 431 out of 8226 in its category, and an annual return of 80.12%, ranking 187 out of 8099 [2] Fund Manager Profile - The fund manager of Caifeng Value Momentum Mixed A is Jin Zicai, who has been in the position for 10 years and 346 days, managing a total fund size of 4.319 billion CNY [3] - During his tenure, the best fund return was 639.78%, while the worst return was -1.6% [3] Fund Holdings - Caifeng Value Momentum Mixed A Fund holds 1.6368 million shares of Changfei Fiber, accounting for 3.17% of the fund's net value, making it the tenth largest holding [4]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [7] Core Viewpoints - The report maintains a positive outlook on the computing power industry chain, particularly in overseas markets, which remain robust despite challenges such as DeepSeek and trade frictions. The domestic AI industry and AIDC chain are also expected to thrive, with 2025 potentially marking a pivotal year for AI infrastructure and applications in China [4][24]. - The report emphasizes the importance of "AI + overseas expansion + satellites" as key investment opportunities, recommending focus on core sectors such as optical modules, liquid cooling, and domestic computing power lines [4][25]. Summary by Sections 1. Artificial Intelligence and Digital Economy - Recommended stocks in optical modules and optical devices include: Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and Yuanjie Technology. Suggested stocks include: Guangxun Technology, Suosi, Dingtong Technology, and others [5][27]. - For switch server PCBs, recommended stocks are: Hudian Co., Zhongxing Communications, and Unisplendour. Suggested stocks include: Shengke Communication, Ruijie Networks, and others [5][27]. - Low valuation and high dividend stocks include: China Mobile, China Telecom, and China Unicom [5][27]. - In AIDC and cooling solutions, recommended stocks are: Yingweike, Runze Technology, and others. Suggested stocks include: Shenling Environment and others [5][27]. - For AIGC applications and edge computing power, recommended stocks are: Yiyuan Communication, Guanghetong, and Meige Intelligent. Suggested stocks include: Caixun Co., Mengwang Technology, and others [5][27]. 2. Offshore Wind and Submarine Cables & Intelligent Driving - Recommended stocks in submarine cables include: Hengtong Optic-Electric and Zhongtian Technology. Suggested stocks include: Dongfang Cable [6][29]. - For offshore recovery and leading concentration, recommended stocks are: Huace Navigation, Weisheng Information, and others. Suggested stocks include: Heertai and Yiyuan Communication [6][29]. - In intelligent driving, suggested stocks include: modules and terminals, sensors, connectors, and structural components [6][29]. 3. Commercial Aerospace - The report highlights the rapid development of low-orbit satellites and the promotion of the low-altitude economy. Recommended stocks include: Huace Navigation and Haige Communication. Suggested stocks include: Chengchang Technology, Zhenlei Technology, and others [6][30]. 4. Industry Dynamics - Longfly Optical won the bid for China Telecom's G.654.E optical fiber procurement, with approximately 2.24 million core kilometers involved, marking a significant increase in demand for G.654.E fibers [2][18][20]. - Shanghai Yuanxin is undergoing a new round of financing, aiming for 5 to 6 billion yuan, with a pre-financing valuation exceeding 40 billion yuan, indicating strong investor confidence in the satellite industry [3][21][23]. 5. Market Performance - The communication sector saw an increase of 11.56% from October 20 to October 24, outperforming the CSI 300 index by 8.31 percentage points [31]. - Key stocks that performed well include: Yuanjie Technology and Zhongji Xuchuang, while stocks that declined include: Wanma Technology and Zhongguang Fanglei [35].

Core Viewpoint - The stock of Changfei Optical Fiber Cable (06869.HK) has rebounded over 9%, indicating a positive market response [2] Group 1: Stock Performance - As of the report, the stock price increased by 8.34%, reaching 40.8 HKD [2] - The trading volume was 959 million HKD, reflecting significant investor interest [2]

Core Viewpoint - Changfei Fiber Optics (06869) has rebounded over 9%, with a current price of HKD 40.8 and a trading volume of HKD 959 million, indicating market optimism despite concerns about growth limitations [1] Company Analysis - Huatai Securities believes that the construction of AI computing infrastructure is expected to drive a new growth phase for Changfei Fiber Optics, countering market perceptions of limited growth potential [1] - In the optical transmission sector, products such as multimode fiber for data centers and G.654.E backbone fiber are experiencing rapid growth, positioning the company as a leader in advancing long-distance transmission networks and data communication applications [1] - The company is leveraging its first-mover advantage and diversifying its operations, with subsidiaries Changxin Bochuang and Changxin Sheng showing strong competitive advantages in MPO, AOC, and high-speed copper cable sectors, which may accelerate the onboarding of overseas clients and boost business volume [1] Market Conditions - Notably, Changfei Fiber Optics is set to hold a board meeting on October 30 to approve its third-quarter performance [1] - Nomura's previous report indicated that recent fiber optic tender results from China Mobile show a decline in market share and average selling prices for Changfei Fiber, which may exert pressure on profitability starting from the third quarter of this year [1]

Core Viewpoint - Changfei Fiber Optics (06869) has rebounded over 9%, currently up 8.34% at HKD 40.8, with a trading volume of HKD 959 million. Market sentiment suggests limited growth potential for the company, but Haitong Securities believes that AI infrastructure development could drive a new growth phase for the company [1] Group 1: Market Performance - Changfei Fiber Optics' stock has shown a significant rebound, with a current increase of 8.34% [1] - The trading volume reached HKD 959 million, indicating strong market interest [1] Group 2: Growth Drivers - Haitong Securities highlights that the growth in AI computing infrastructure could lead to new opportunities for Changfei Fiber Optics [1] - In the optical transmission sector, there is rapid growth in multimode fiber for data centers and G.654.E fiber products for backbone networks [1] - The company is advancing in long-distance transmission networks and data communication applications, leveraging its first-mover advantage [1] Group 3: Diversification and Competitive Advantage - Changfei Fiber Optics is diversifying its growth avenues through subsidiaries Changxin Bochuang and Changxin Sheng, which have strong competitive advantages in MPO, AOC, and high-speed copper cable sectors [1] - This diversification is expected to accelerate the introduction of overseas clients and increase business volume [1] Group 4: Market Challenges - Notably, a board meeting is scheduled for October 30 to approve the third-quarter results [1] - Nomura's report indicates that recent fiber optic tender results from China Mobile show a decline in market share and average selling prices for Changfei Fiber Optics, which may pressure profitability starting from the third quarter [1]

风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 新华稳健回报灵活配置混合发起（001004）成立日期2015年5月29日，最新规模5259.59万。今年以来收 益17.45%，同类排名4596/8154；近一年收益21.54%，同类排名3503/8025；成立以来收益45.01%。 新华稳健回报灵活配置混合发起（001004）基金经理为俞佳莹。 截至发稿，俞佳莹累计任职时间1年155天，现任基金资产总规模5259.68万元，任职期间最佳基金回报 23.47%， 任职期间最差基金回报21.96%。 10月24日，长飞光纤涨5.29%，截至发稿，报90.00元/股，成交8.37亿元，换手率2.35%，总市值682.11 亿元。 资料显示，长飞光纤光缆股份有限公司位于湖北省武汉市东湖高新技术开发区光谷大道9号,香港铜锣湾 希慎道33号利园1期19楼1918室，成立日期1988年5月31日，上市日期2018年7月20日，公司主营业务涉 及专注于通信行业,聚焦电 ...

Group 1 - The copper cable high-speed connection concept declined by 1.24%, ranking among the top declines in the concept sector as of the market close on October 23 [1] - Within the sector, companies such as Changfei Fiber, Dingtong Technology, and Huafeng Technology experienced significant declines, while Baosheng Co., Far East Co., and Zhongtian Technology saw increases of 1.65%, 0.80%, and 0.80% respectively [1][2] - The copper cable high-speed connection sector experienced a net outflow of 1.259 billion yuan, with 31 stocks seeing net outflows, and 8 stocks with outflows exceeding 50 million yuan [2] Group 2 - The top net outflow stocks in the copper cable high-speed connection sector included Changying Precision with a net outflow of 271 million yuan, Huagong Technology with 241 million yuan, and Changxin Bochuang with 123 million yuan [2][3] - The stocks with the highest net inflows included Zhongfu Circuit, Kabeiyi, and Ruikeda, with net inflows of 31.159 million yuan, 25.109 million yuan, and 10.122 million yuan respectively [2][3] - The trading volume and price changes of various stocks in the sector were highlighted, with notable declines in stocks like Huafeng Technology (-4.31%) and Dingtong Technology (-5.13%) [3]