Group 1 - The core point of the article is that Hongsheng Co., Ltd. (603090) has responded to investor inquiries, indicating that the number of shareholders is expected to reach 11,628 by November 28, 2025 [1]

Summary of Key Points Core Viewpoint - The announcement details the share reduction results of Wuxi Hongsheng Heat Exchanger Manufacturing Co., Ltd., specifically regarding the shareholding changes of a significant shareholder, Changzhou Zhongke Jiangnan Equity Investment Center (Limited Partnership) Group 1: Shareholder Basic Situation - As of the share reduction plan announcement date (August 8, 2025), Changzhou Zhongke held 2,859,400 shares, accounting for 2.8594% of the company's total share capital. These shares were acquired before the company's initial public offering and were released from restrictions on August 31, 2017 [2]. Group 2: Implementation Results of the Reduction Plan - On November 28, 2025, the company received a notification from Changzhou Zhongke regarding the share reduction results. As of the announcement date, Changzhou Zhongke had reduced its holdings by 1,000,000 shares, representing 1.00% of the company's total share capital. Future reduction plans will be subject to subsequent announcements [2]. Group 3: Compliance and Execution of the Reduction Plan - The reduction plan was executed in accordance with relevant laws and regulations. The actual reduction matched the previously disclosed reduction plan, and there were no violations of the reduction plan or other commitments [4].

Group 1 - The core point of the article is that Hongsheng Co., Ltd. announced the completion of a share reduction plan by its shareholder, Changzhou Zhongke, which has reduced its holdings by 1% of the total share capital [1] - As of the announcement date, Changzhou Zhongke has cumulatively reduced its shares by 1 million shares through the Shanghai Stock Exchange's centralized bidding trading system [1] - For the first half of 2025, Hongsheng's revenue composition is as follows: 92.49% from general machinery manufacturing, 4.64% from electrical machinery and equipment manufacturing, and 2.88% from other businesses [1] Group 2 - As of the report, Hongsheng Co., Ltd. has a market capitalization of 4.5 billion yuan [1]

股东减持股份结果公告 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。 证券代码：603090 证券简称：宏盛股份 公告编号：2025-034 无锡宏盛换热器制造股份有限公司 (一)大股东及董监高因以下事项披露减持计划实施结果： 披露的减持时间区间届满 | 股东名称 | 常州市中科江南股权投资中心（有限合伙） | | --- | --- | | 减持计划首次披露日期 | 2025 年 8 月 8 日 | | 减持数量 | 1,000,000股 | | 减持期间 | 2025 年 9 月 1 日～2025 年 11 月 30 日 | | 减持方式及对应减持数 量 | 集中竞价减持，1,000,000 股 | | 减持价格区间 | 47.25～47.25元/股 | | 减持总金额 | 47,250,000元 | | 减持完成情况 | 未完成：1,859,400 股 | | 减持比例 | 1% | | 原计划减持比例 | 不超过：2.8594% | | 当前持股数量 | 1,859,400股 | | 当前持股比例 | 1.8 ...

Group 1 - The core point of the article is that Hongsheng Co., Ltd. (603090.SH) announced the results of a share reduction by its shareholder, Changzhou Zhongke [1] - As of the announcement date, Changzhou Zhongke has reduced its holdings by 1 million shares, which represents 1.00% of the company's total share capital [1]

Group 1 - The core point of the article is that Hongsheng Co., Ltd. (603090.SH) announced the results of a share reduction by its shareholder, Changzhou Zhongke [1] - As of the announcement date, Changzhou Zhongke has reduced its holdings by 1 million shares, which represents 1.00% of the company's total share capital [1]

Core Points - The company Hongsheng Co., Ltd. announced that its shareholder, Changzhou Zhongke Jiangnan Equity Investment Center (Limited Partnership), plans to reduce its holdings by 1 million shares between September 1, 2025, and November 30, 2025, at a price of 47.25 yuan per share, totaling 47.25 million yuan, which accounts for 1% of the total share capital [1] - After the reduction, the shareholder will hold 1.8594 million shares, representing 1.8594% of the total shares, with an original plan to reduce no more than 2.8594% [1] - Future reductions will be announced as per the company's announcements [1]

Core Viewpoint - The liquid cooling concept stocks in the A-share market have shown strong performance, driven by a report from Morgan Stanley indicating an increase in the total value of cooling components for the next-generation Vera Rubin NVL144 platform, which is expected to rise by 17% to approximately $55,710 (around 400,000 RMB) per cabinet [1] Summary by Category Stock Performance - Xinjubang (新宙邦) surged over 16%, with a year-to-date increase of 73.09% and a total market value of 47.8 billion RMB [2] - Tongfei Co., Ltd. (同飞股份) rose over 12%, with a year-to-date increase of 97.19% and a total market value of 13.7 billion RMB [2] - Xin'an Co., Ltd. (新安股份) increased by 10.04%, with a year-to-date increase of 42.89% and a total market value of 16.7 billion RMB [2] - Yingweike (英维克) reached a 10% increase, with a year-to-date increase of 138.65% and a total market value of 72 billion RMB [2] - Six other companies, including Siquan New Materials (思泉新材) and Yongtai Technology (永太科技), also reported significant gains ranging from 6% to 9% [1][2] Market Insights - The report from Morgan Stanley highlights a growing trend in the liquid cooling sector, indicating a robust demand for advanced cooling solutions in data centers [1] - The anticipated increase in cooling component value reflects the industry's shift towards more efficient thermal management technologies [1]

Core Viewpoint - Hongsheng Co., Ltd. (603090.SH) reported its Q3 2025 results, highlighting an increase in institutional investor holdings, which indicates growing confidence in the company's stock [1] Institutional Holdings - As of October 30, 2025, five institutional investors disclosed holdings in Hongsheng Co., Ltd., totaling 6.53 million shares, which represents 6.53% of the company's total share capital [1] - The institutional investor group includes Beijing Kunkai Private Fund Management Co., Ltd., Zhongke Investment Management Group Co., Ltd., and Jiangyin Milidu Private Fund Management Partnership, among others [1] - Compared to the previous quarter, the total institutional holding percentage increased by 1.55 percentage points [1] Public Fund Holdings - In this reporting period, 34 public funds were disclosed, with notable funds including Nuoan Multi-Strategy Mixed A, Huian Multi-Strategy Mixed A, and China Asset Flexible Allocation Mixed A [1]

Core Insights - Hongsheng Co., Ltd. (603090.SH) reported a total operating revenue of 554 million yuan for Q3 2025, ranking 139th among disclosed peers [1] - The net profit attributable to shareholders was 64.38 million yuan, with net cash inflow from operating activities at 77.53 million yuan, a decrease of 10.07 million yuan or 11.50% year-on-year [1][3] Financial Performance - The latest debt-to-asset ratio stands at 30.85%, an increase of 1.74 percentage points compared to the same period last year [3] - The gross profit margin is 25.50%, ranking 134th among disclosed peers, down 1.26 percentage points from the previous quarter and 1.76 percentage points year-on-year [3] - Return on equity (ROE) is reported at 10.50% [3] - The diluted earnings per share (EPS) is 0.64 yuan [3] - Total asset turnover ratio is 0.62 times, a decrease of 0.01 times year-on-year, reflecting a decline of 1.13% [3] - Inventory turnover ratio is recorded at 3.12 times [3] Shareholder Structure - The number of shareholders is 13,300, with the top ten shareholders holding a total of 60.01% of the total share capital, amounting to 60.01 million shares [3] - The largest shareholder is Niu Yuxia, holding 47.6% of the shares [3]