Core Viewpoint - The major shareholder of Gongjin Co., Tang Fonan, along with his concerted parties, is planning a share transfer that may lead to a change in the company's control [1] Summary by Relevant Sections - **Share Transfer Announcement** - Gongjin Co. announced on October 24 that its major shareholder, Tang Fonan, and his concerted parties, including Cui Zhengnan, Wang Davi, and Wang Danhua, are in the process of planning a share transfer [1] - **Potential Control Change** - The share transfer may result in a change of control for the company, indicating significant shifts in ownership dynamics [1] - **Stock Suspension** - The company's stock will be suspended from trading starting October 27, 2025, with the suspension expected to last no more than two trading days [1]

每经AI快讯，10月24日，共进股份（603118）(603118.SH)公告称，公司大股东唐佛南及其一致行动人 崔正南、汪大维及其一致行动人王丹华正在筹划股份转让事项，可能导致公司控制权变更。为保证公平 信息披露，维护投资者利益，公司股票自2025年10月27日起停牌，预计停牌时间不超过2个交易日。停 牌期间，公司将根据事项进展情况履行信息披露义务。 ...

Core Viewpoint - The major shareholder of Gongjin Co., Tang Fonan, along with his concerted parties, is planning a share transfer that may lead to a change in the company's control [1] Group 1 - The share transfer involves Tang Fonan and his concerted parties, including Cui Zhengnan, Wang Davi, and Wang Danhua [1] - Due to the uncertainty surrounding this matter, the company has applied for a trading suspension of its stock starting from October 27, 2025, for no more than 2 trading days [1] - During the suspension period, the company will fulfill its information disclosure obligations and will resume trading promptly once the matter is confirmed [1]

Group 1 - The core viewpoint of the news is that Gongjin Electronics experienced a decline in stock price and significant changes in financing activities on October 22, with a net financing outflow of 12.26 million yuan [1] - On October 22, Gongjin Electronics had a trading volume of 200 million yuan, with a financing balance of 457 million yuan, representing 4.97% of its market capitalization [1] - The company’s financing activities showed a high level, with the financing balance exceeding the 60th percentile of the past year [1] Group 2 - Gongjin Electronics, established on November 24, 1998, specializes in the research, production, and sales of broadband communication terminals and smart home systems [2] - For the first half of 2025, Gongjin Electronics reported a revenue of 4.153 billion yuan, a year-on-year increase of 4.06%, and a net profit attributable to shareholders of 57.49 million yuan, a significant increase of 449.23% [2] - The company’s main business revenue composition includes PON series (41.85%), AP series (23.54%), and other segments [2] Group 3 - Since its A-share listing, Gongjin Electronics has distributed a total of 1.208 billion yuan in dividends, with 204 million yuan distributed in the last three years [3] - As of June 30, 2025, the top ten shareholders of Gongjin Electronics included Hong Kong Central Clearing Limited and two ETFs, with notable changes in their holdings [3] - The number of shareholders decreased by 6.41% to 67,000, while the average circulating shares per person increased by 6.85% to 11,757 shares [2]

Core Points - The stock price of Gongjin Electronics has dropped by 5.05% on October 14, reaching 12.04 CNY per share, with a trading volume of 517 million CNY and a turnover rate of 5.25% [1] - The company has experienced a cumulative decline of 7.85% over the past three days [1] Company Overview - Gongjin Electronics, established on November 24, 1998, and listed on February 25, 2015, is located in Shenzhen, Guangdong Province [1] - The company's main business involves the research, production, and sales of broadband communication terminals and smart home systems [1] - Revenue composition includes: PON series (41.85%), AP series (23.54%), data communication (11.90%), DSL series (9.09%), other main businesses (6.87%), supplementary (4.92%), and mobile communication (1.83%) [1] Shareholder Information - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Gongjin Electronics, having increased its holdings by 838,400 shares in Q2, totaling 4.36 million shares, which represents 0.55% of circulating shares [2] - The ETF has incurred a floating loss of approximately 2.79 million CNY today and a total floating loss of 4.71 million CNY over the past three days [2] Fund Manager Details - The fund manager of Southern CSI 1000 ETF is Cui Lei, who has been in the position for 6 years and 343 days [3] - The fund's total asset size is 94.976 billion CNY, with the best return during the tenure being 177.68% and the worst return being -15.93% [3]

Group 1 - The F5G concept index declined by 0.68% as of the market close on September 30, ranking among the top decliners in the concept sector [1] - Within the F5G sector, notable declines were observed in companies such as Huagong Technology, Feiling Kesi, and Guangxun Technology, while 13 stocks experienced price increases, with Gongjin Co., Pingzhi Information, and Chuling Information leading the gains at 6.01%, 3.40%, and 3.03% respectively [1][2] Group 2 - The F5G concept sector saw a net outflow of 4.081 billion yuan in main funds today, with 25 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 100 million yuan [2] - Huagong Technology led the net outflow with 1.472 billion yuan, followed by Zhongji Xuchuang, Guangxun Technology, and Jianqiao Technology with net outflows of 1.192 billion yuan, 386 million yuan, and 381 million yuan respectively [2][3] - The top net inflow stocks included Dekeli, Gongjin Co., and Pingzhi Information, with net inflows of 271 million yuan, 244 million yuan, and 1.4539 million yuan respectively [2][3]

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 Viewpoint - The company has indicated that the production of its 800G switches is based on customer orders, with current order and shipment volumes being relatively small, primarily supplying domestic switch brand manufacturers [2] Group 1: Production and Orders - The 800G switches are produced according to customer demand [2] - Current order and shipment scale for the 800G switches is small [2] - The primary market for the 800G switches is domestic switch brand manufacturers [2]

Group 1 - The core point of the news is that Gongjin Electronics Co., Ltd. experienced a stock price decline of 5.03% on September 26, with a trading price of 12.85 CNY per share and a total market capitalization of 10.117 billion CNY [1] - The company, established on November 24, 1998, and listed on February 25, 2015, specializes in the research, production, and sales of broadband communication terminals and smart home systems [1] - The revenue composition of the company's main business includes: PON series (41.85%), AP series (23.54%), data communication (11.90%), DSL series (9.09%), other main business (6.87%), supplementary (4.92%), and mobile communication (1.83%) [1] Group 2 - Among the top ten circulating shareholders of Gongjin, Huaxia Fund's Huaxia CSI 1000 ETF (159845) entered the list in the second quarter, holding 2.57 million shares, which is 0.33% of the circulating shares [2] - The estimated floating loss for Huaxia CSI 1000 ETF today is approximately 1.7476 million CNY [2] - The fund was established on March 18, 2021, with a latest scale of 38.227 billion CNY, and has achieved a year-to-date return of 27.29% [2]

Group 1 - Company shares closed at 13.25 yuan on September 19, 2025, down 3.64% with a turnover rate of 6.56% and a trading volume of 516,200 shares, resulting in a transaction amount of 693 million yuan [1] - On September 19, 2025, the main funds experienced a net outflow of 113 million yuan, accounting for 16.38% of the total transaction amount [2][3] - Retail investors saw a net inflow of 87 million yuan, representing 12.56% of the total transaction amount [2] Group 2 - The company received a government subsidy of 8.8979 million yuan on September 18, 2025, which is related to income and accounts for 11.13% of the company's audited net profit attributable to shareholders for the most recent fiscal year [2][3] - This subsidy will be recognized as other income in the company's current profit and loss statement, positively impacting the company's profit for the 2025 fiscal year [2][3]