Core Viewpoint - The company, Gongjin Co., Ltd. (603118), has reported an increase in production and revenue from general and AI servers for domestic clients in 2023, and is exploring new business opportunities in the EMS product line, including robotic vacuum cleaners and pool cleaning robots by 2025 [1] Group 1 - The company primarily engages in contract manufacturing of servers for domestic clients [1] - There has been an increase in both the quantity and value of general and AI servers produced for clients this year [1] - The company is planning to introduce new business segments, specifically robotic vacuum cleaners and pool cleaning robots, into its EMS product line by 2025 [1] Group 2 - Specific details regarding client collaborations are not disclosed due to commercial agreements [1]

Core Viewpoint - The company has seen an increase in the production quantity and value of general and AI servers for domestic clients this year [1] Group 1 - The company primarily engages in contract manufacturing of servers for domestic clients [1] - The production output and value scale of general and AI servers have both improved this year [1] Group 2 - In 2025, the company plans to explore new business growth avenues by introducing EMS product lines, including robotic vacuum cleaners and pool cleaning robots [1]

Core Viewpoint - The company has extensive experience in the switch sector and is focused on expanding its product offerings and customer base in the server business, particularly in liquid cooling technology [2]. Group 1: Company Experience and Product Range - The company has years of experience in the switch field, covering various products including campus, SMB switches, and data center switches with 100G, 400G, and 800G capabilities [2]. - The company aims to strengthen its core advantages in mass production for key customer server businesses while expanding its customer reach and product scale [2].

Core Viewpoint - The company has seen an increase in the production and output value of general and AI servers for domestic clients in 2023, while also exploring new business avenues for growth by introducing EMS product lines such as robotic vacuum cleaners and pool cleaning robots [1] Group 1 - The company primarily produces servers for domestic clients, with a focus on contract manufacturing [1] - There has been an increase in both the quantity and output value of general and AI servers provided to clients this year [1] - The company is actively seeking new growth opportunities by introducing new EMS product lines, including robotic vacuum cleaners and pool cleaning robots, by 2025 [1] Group 2 - Specific details regarding collaborations with clients, including the AI terminal testing products developed in partnership with ByteDance, cannot be disclosed due to commercial agreements [1]

Core Viewpoint - The company is currently in the small batch delivery phase for its 10G routers, indicating that it is still ramping up production and has not yet reached full-scale manufacturing [1] Group 1 - The company received inquiries from investors regarding the order status of its 10G routers [1] - The company confirmed that the 10G routers are in the small batch delivery stage of mass production [1]

Core Insights - The document outlines various merger and acquisition cases involving multiple companies, with a focus on their completion dates and involved parties [3]. Group 1: Mergers and Acquisitions - Baker Hughes Company is set to acquire a stake in Charter Industrial Company, with the case expected to conclude on November 24, 2025 [3]. - Anhui Wanlong Magnetic Plastic Co., Ltd. plans to acquire Guangdong Midea Smart Life Appliance Manufacturing Co., Ltd., with a completion date of November 24, 2025 [3]. - Beijing Tongrentang (Group) Co., Ltd. is acquiring Tianjin Tongrentang Group Co., Ltd., expected to finalize on November 24, 2025 [3]. - Shengke Public Utilities Co., Ltd. and OQ Alternative Energy Co., Ltd. are establishing a joint venture, with the case concluding on November 24, 2025 [3]. - Yanfeng International Automotive Technology Co., Ltd. is acquiring Chongqing Xiaokang Automotive Parts Co., Ltd.'s automotive interior and exterior business, expected to close on November 25, 2025 [3]. - Anqing Dibo Powder Metallurgy Co., Ltd. is set to acquire Aisin (Anqing) Automotive Parts Co., Ltd., with the case expected to conclude on November 25, 2025 [3]. - China Aluminum Group High-end Manufacturing Co., Ltd. is acquiring Shandong Yanzhou Mining Group Light Alloy Co., Ltd., with a completion date of November 26, 2025 [3]. - Tangshan Industrial Holding Group Co., Ltd. is acquiring Shenzhen Gongjin Electronics Co., Ltd., expected to finalize on November 26, 2025 [3]. - Mingqijia Information Service Co., Ltd. and Zibo Energy Group Co., Ltd. are establishing a joint venture, with the case concluding on November 27, 2025 [3]. - Longi Green Energy Technology Co., Ltd. is acquiring Suzhou Jingkong Energy Technology Co., Ltd., expected to close on November 27, 2025 [3]. - China Resources Cultural Sports Development Co., Ltd. and Wuxi New Zewen Business Travel Investment Development Co., Ltd. are establishing a joint venture, with a completion date of November 27, 2025 [3]. - Shenzhen Guangsheng Private Equity Fund Management Co., Ltd. and Guangdong Hengjian Asset Management Co., Ltd. are establishing a joint venture, expected to conclude on November 27, 2025 [3]. - Dazhang Capital Management (Hong Kong) Co., Ltd. is acquiring Aneng Logistics Group Co., Ltd. from Emei Investments Pte. Ltd., with the case expected to finalize on November 27, 2025 [3]. - Nokia Communications Investment (China) Co., Ltd. is acquiring Shanghai Nokia Bell Co., Ltd., with a completion date of November 28, 2025 [3]. - Hillhouse Investment Management V, L.P. is acquiring shares in Shanghai Kangde Hongyi Medical Clinical Research Co., Ltd. and Shanghai WuXi AppTec Co., Ltd., expected to close on November 28, 2025 [3].

Group 1 - The company is undergoing a change in control, with major shareholders planning to transfer a total of 88,055,885 shares (11.1849% of total shares) to Tangshan Industrial Holding Group Co., Ltd. [2] - A voting rights entrustment agreement has been signed, allowing Tangshan Industrial to exercise voting rights for an additional 117,411,228 shares (14.9136% of total shares) [3] - After the share transfer and voting rights entrustment, Tangshan Industrial will hold a total of 205,467,113 shares, representing 26.0985% of the total voting rights, thus becoming the controlling shareholder [4] Group 2 - The company has received a decision from the State Administration for Market Regulation indicating that no further antitrust review will be conducted regarding the acquisition by Tangshan Industrial [5] - The share transfer is still subject to approval from state-owned asset supervision authorities and compliance confirmation from the Shanghai Stock Exchange, introducing uncertainty regarding the final implementation of the transfer [6]

Group 1 - The company, Gongjin Co., Ltd. (stock code: 603118), responded to investor inquiries on December 1, indicating that information regarding the number of shareholders can be found in the company's periodic reports [1]

证券代码：603118 证券简称：共进股份 公告编号：临 2025—052 深圳市共进电子股份有限公司 司股份总数的14.9136%）对应的表决权，合计持有本公司205,467,113股股份对应 的表决权（占公司股份总数的26.0985%）。第一次股份转让及表决权委托前，公 司无控股股东、实际控制人。若第一次股份转让及表决权委托最终实施完成，公 司控股股东、实际控制人将发生变化，公司控股股东将变更为唐山工控，公司实 际控制人将变更为唐山市人民政府国有资产管理委员会。 具 体 内 容 详 见 公 司 于 2025 年 11 月 1 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《关于大股东签署<股份转让协议><表决权委托协议> 暨控制权拟发生变更的提示性公告》（公告编号：临2025-048），以及公司于2025 年11月4日在上海证券交易所网站（www.sse.com.cn）披露的《简式权益变动报 告书》和《详式权益变动报告书》。 二、本次控制权拟发生变更的进展情况 关于收到国家市场监督管理总局《经营者集中反垄断 审查不实施进一步审查决定书》暨控制权拟发生变更 的进展公告 本 ...

Core Viewpoint - On November 20, 2023, Gongjin Electronics experienced a decline of 4.16% in stock price, with a trading volume of 338 million yuan, indicating a significant outflow of funds and a shift in investor sentiment [1] Financing Summary - On the same day, Gongjin Electronics had a financing buy-in amount of 24.64 million yuan and a financing repayment of 203 million yuan, resulting in a net financing outflow of 17.9 million yuan [1] - As of November 20, the total financing and securities lending balance for Gongjin Electronics was 422 million yuan, with the financing balance accounting for 4.74% of the circulating market value, which is below the 50th percentile level over the past year, indicating a low financing position [1] - In terms of securities lending, 3,200 shares were repaid, while 39,300 shares were sold, amounting to 443,700 yuan at the closing price, with a securities lending balance of 886,300 yuan, which is above the 50th percentile level over the past year, indicating a high lending position [1] Company Overview - Gongjin Electronics, established on November 24, 1998, and listed on February 25, 2015, is located in Shenzhen, Guangdong Province, focusing on the research, production, and sales of broadband communication terminals and smart home systems [2] - The company's main business 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%) [2] - As of September 30, 2023, the number of shareholders was 67,300, an increase of 0.46%, with an average of 11,704 circulating shares per person, a decrease of 0.45% [2] - For the period from January to September 2023, Gongjin Electronics achieved a revenue of 6.539 billion yuan, representing a year-on-year growth of 8.15%, and a net profit attributable to shareholders of 86.29 million yuan, a significant increase of 529.94% year-on-year [2] Dividend and Institutional Holdings - Since its A-share listing, Gongjin Electronics has distributed a total of 1.208 billion yuan in dividends, with 204 million yuan distributed over the past three years [3] - As of September 30, 2023, among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 9.4754 million shares, an increase of 3.7225 million shares compared to the previous period [3] - The Southern CSI 1000 ETF (512100) ranked as the sixth largest circulating shareholder with 4.3136 million shares, a decrease of 50,100 shares from the previous period, while the Huaxia CSI 1000 ETF (159845) ranked ninth with 2.5672 million shares, a decrease of 2,800 shares [3]