Market Overview - As of September 18, the Shanghai Composite Index closed at 3831.66 points, down 44.68 points, a decrease of 1.15% [1] - The Shenzhen Component Index closed at 13075.66 points, down 139.80 points, a decrease of 1.06% [1] - The ChiNext Index closed at 3095.85 points, down 51.49 points, a decrease of 1.64% [1] Stock Performance - A total of 110 A-shares had a turnover rate exceeding 20% on September 18, with Boshang Optoelectronics reaching a turnover rate of over 50% [1] - The top stocks by turnover rate included: - Boshang Optoelectronics (301421) with a closing price of 94.50 yuan and a turnover rate of 51.13%, increasing by 7.24% [1] - Lihexing (301013) with a closing price of 29.23 yuan and a turnover rate of 48.00%, increasing by 19.99% [1] - Haoen Automotive Electronics (301488) with a closing price of 209.00 yuan and a turnover rate of 43.99%, decreasing by 4.14% [1] Notable Stocks - Other notable stocks with high turnover rates included: - Huasheng Tiancheng (600410) with a turnover rate of 43.95% and an increase of 6.82% [1] - Huanxin Precision (603370) with a turnover rate of 41.93% and an increase of 5.58% [1] - Chuanrun Co., Ltd. (002272) with a turnover rate of 40.62% and an increase of 9.99% [1] Additional Stock Insights - Stocks with significant price movements included: - Dezhong Automobile (838030) with a turnover rate of 32.88% and an increase of 30.00% [1] - Xianyang Tourism (000610) with a turnover rate of 25.75% and an increase of 6.69% [2] - Aifenda (301575) with a turnover rate of 29.37% and a decrease of 1.10% [2]

Core Viewpoint - The stock of Huaxin Jingke (603370) has experienced significant volatility post-IPO, with a sharp decline in price after an initial surge, leading to substantial losses for retail investors [1][3][5]. Company Overview - Huaxin Jingke specializes in the research, production, and sales of precision stamping products, particularly precision stamping iron cores and related molds [3]. - The company serves notable clients including Valeo, Delta Electronics, Bosch Group, BYD, and BMW, indicating a strong market presence [3]. Financial Performance - From 2022 to 2024, Huaxin Jingke's revenue is projected to grow from 1.192 billion to 1.421 billion yuan, reflecting a compound annual growth rate (CAGR) of 9.2% [3]. - Net profit is expected to increase from 114 million to 150 million yuan during the same period, with a CAGR of 14.7% [3]. - In the first half of 2025, the company reported revenue of 752 million yuan, a year-on-year increase of 19.4%, and a net profit of 98 million yuan, up 13.5% [3]. IPO and Market Reaction - Huaxin Jingke's IPO was sponsored by Huatai United Securities, which played a crucial role in ensuring accurate information disclosure and promoting the company [5]. - On the first trading day, the stock opened at 65 yuan, peaked at 77.30 yuan, but closed at 69.30 yuan, leading to initial investor excitement [5]. - However, the stock price fell continuously over the next five trading days, leading to significant losses for investors [5][10]. Investor Sentiment - Retail investors expressed frustration over the stock's performance, with some feeling that the IPO was more about raising capital than supporting company growth [10]. - One investor reported purchasing shares at an average price of 60.39 yuan, only to face a loss of 18,000 yuan as the stock price continued to decline [7][10].

Group 1 - The stock of Huaxin Jingke (603370) increased by 2.17% with a turnover rate of 24.92% and a trading volume of 453 million yuan, showing a fluctuation of 4.04% [1] - The stock was listed on the exchange due to its turnover rate, with a net selling amount of 2.01 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction of 46.27 million yuan, with a buying amount of 22.13 million yuan and a selling amount of 24.14 million yuan, resulting in a net selling of 2.01 million yuan [2] Group 2 - For the first half of the year, the company reported a revenue of 752 million yuan, representing a year-on-year growth of 19.40%, and a net profit of 98.35 million yuan, up by 13.52% [3] - The company issued a performance forecast for the first three quarters, expecting a net profit between 132 million yuan and 161 million yuan, with a year-on-year change range of 16.03% to 41.81% [4] Group 3 - The main capital inflow for the stock today was 20.07 million yuan, with a large single net inflow of 6.65 million yuan and a big single capital net inflow of 13.42 million yuan [2] - Over the past five days, the main capital has seen a net outflow of 45.98 million yuan [2]

Market Performance - The electric motor sector increased by 4.25% compared to the previous trading day, with Kangping Technology leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Top Gainers in Electric Motor Sector - Kangping Technology (300907) closed at 39.98, up 16.36% with a trading volume of 108,200 shares and a transaction value of 409 million [1] - Jiangsu Changli (300660) closed at 66.19, up 14.16% with a trading volume of 454,900 shares and a transaction value of 2.673 billion [1] - Dayang Electric (002249) closed at 10.34, up 10.00% with a trading volume of 2.8172 million shares and a transaction value of 2.763 billion [1] Other Notable Performers - Mingzhi Electric (603728) closed at 78.15, up 6.05% with a trading volume of 125,500 shares and a transaction value of 1.935 billion [1] - Weiguang Co., Ltd. (002801) closed at 38.15, up 5.59% with a trading volume of 77,900 shares and a transaction value of 292 million [1] Market Capital Flow - The electric motor sector saw a net inflow of 18.2663 million from institutional investors, while retail investors contributed a net inflow of 26.9 million [2] - The sector experienced a net outflow of 287 million from speculative funds [2] Individual Stock Fund Flow - Dayang Electric (002249) had a net inflow of 35.2 million from institutional investors, while it faced a net outflow of 155 million from speculative funds [3] - Zhaowei Electromechanical (003021) recorded a net inflow of 22 million from institutional investors, with a net outflow of 75.8594 million from speculative funds [3] - Kangping Technology (300907) had a net inflow of 20.174 million from institutional investors, while it faced a net outflow of 13.4122 million from speculative funds [3]

Company Overview - Huaxin Precision Technology Co., Ltd. is located in Jiangyin City, Jiangsu Province, and was established on August 19, 2002. The company specializes in the research, production, and sales of precision stamping products [1] - The main business revenue composition includes precision stamping iron cores (87.94%), other products (9.70%), and precision stamping molds (2.37%) [1] Stock Performance - As of September 16, Huaxin Precision's stock price increased by 2.00%, reaching 53.55 CNY per share, with a trading volume of 254 million CNY and a turnover rate of 14.09%. The total market capitalization is 9.369 billion CNY [1] - Year-to-date, the stock price has decreased by 22.73%, with a decline of 6.54% over the last five trading days [1] Capital Flow - The net inflow of main funds was 8.3185 million CNY, with large orders accounting for 20.72% of total purchases and 18.58% of total sales [1] - On September 12, the company appeared on the "Dragon and Tiger List" with a net buy of -9.7828 million CNY, where total purchases amounted to 31.8229 million CNY (5.07% of total trading volume) and total sales were 41.6057 million CNY (6.63% of total trading volume) [1] Financial Performance - For the first half of 2025, Huaxin Precision achieved an operating income of 752 million CNY, representing a year-on-year growth of 19.40%. The net profit attributable to the parent company was 98.345 million CNY, with a year-on-year increase of 13.52% [2] - As of September 5, the number of shareholders reached 62,300, an increase of 519,441.67% compared to the previous period, with an average of 549 circulating shares per person [2] Industry Classification - Huaxin Precision is classified under the electrical equipment industry, specifically in the motor sector, and is associated with concepts such as near-term new shares, specialized and innovative enterprises, margin trading, and small-cap stocks [2]

Group 1 - The stock of Huaxin Jingke (603370) fell by 4.47% today, with a turnover rate of 34.48% and a trading volume of 627 million yuan, showing a fluctuation of 3.93% [2] - The stock was listed on the Shanghai Stock Exchange due to its turnover rate, with a total net sell of 9.78 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction of 73.43 million yuan, with a buying amount of 31.82 million yuan and a selling amount of 41.61 million yuan, resulting in a net sell of 9.78 million yuan [2] Group 2 - The largest buying brokerage was Huatai Securities Co., Ltd. with a purchase amount of 14.35 million yuan, while the largest selling brokerage was Haitong Securities Co., Ltd. with a selling amount of 15.41 million yuan [2] - The stock experienced a net outflow of 71.44 million yuan from main funds today, including a net outflow of 22.91 million yuan from large orders and 48.52 million yuan from major funds [2] - Over the past five days, the net outflow of main funds reached 111 million yuan [2] Group 3 - On August 15, the company reported a half-year revenue of 752 million yuan, representing a year-on-year growth of 19.40%, and a net profit of 98.35 million yuan, up by 13.52% year-on-year [2] - On August 29, the company released a forecast for the first three quarters, expecting a net profit between 132 million yuan and 161 million yuan, with a year-on-year change range of 16.03% to 41.81% [3]

Core Viewpoint - The company, Huaxin Jingke (603370.SH), emphasizes that precision stamping iron cores are its core products, which include various applications in the new energy vehicle sector and other industries [1] Product Overview - The main products of the company consist of precision stamping iron cores, specifically for new energy vehicle drive motors, micro-special motors, electrical equipment, ignition coils, and other types of iron cores [1] - Micro-special motor iron cores can be applied in aerospace and nuclear power fields, although the company has not yet entered the nuclear power industry [1]

Core Viewpoint - The company, Huaxin Precision Technology (603370.SH), emphasizes that precision stamping iron cores are its core products, which include various applications in the new energy vehicle sector and other industries [1] Group 1 - The main products of the company include iron cores for new energy vehicle drive motors, micro-special motors, electrical equipment, ignition coils, and other types of iron cores [1] - The micro-special motor iron cores can be applied in aerospace and nuclear power fields, although the company has not yet entered the nuclear power industry [1]

Group 1 - The core point of the article is that Huaxin Jingke (603370.SH) experienced a significant drop in stock price, closing at 57.30 yuan, marking a decline of 9.08% and reaching a new low since its listing [1] - Huaxin Jingke was listed on the Shanghai Stock Exchange on September 5, with a total issuance of 43.7375 million shares, accounting for 25.00% of the total share capital post-issuance [1] - The issuance price was set at 18.60 yuan per share, and the total funds raised amounted to 813.5175 million yuan, with a net amount of 727.1896 million yuan after deducting issuance costs [1] Group 2 - The net amount raised exceeded the original plan by 15.2063 million yuan, with the funds intended for projects including the expansion of electric vehicle drive motor core production, precision stamping and mold R&D center, and working capital supplementation [1] - The total issuance costs were 86.3279 million yuan (excluding VAT), with underwriting and sponsorship fees amounting to 61.1868 million yuan [1]

Investment Rating - The report assigns a "Buy" rating for the company, predicting that the stock price will outperform the Shanghai Composite Index by 15% or more within the next six months [44]. Core Insights - The company has been a leader in the precision stamping core industry for over 20 years, focusing on advanced technology and supplying well-known global enterprises [2][3]. - The global market for precision stamping cores is projected to grow significantly, with an expected compound annual growth rate (CAGR) of 12.82% from 2024 to 2030, reaching approximately 263.7 billion yuan by 2030 [9][10]. - The company's revenue is primarily driven by precision stamping cores, which accounted for 87.69% of total revenue in 2024, with a gross margin of 22.19% [32]. Summary by Sections 1. Industry Scale - The precision stamping core market is expanding, driven by increasing demand in various applications, including electric motors and electrical equipment [8]. - The market for precision stamping cores is expected to reach 263.7 billion yuan by 2030, with significant growth in the electric vehicle sector [9][10]. 2. Industry Chain and Competitive Landscape - The company has established a comprehensive production capability, from raw material processing to stamping and post-processing, making it one of the few in the industry with such capabilities [37][39]. - The competitive landscape is characterized by a division between low-end and high-end markets, with the company focusing on high-end applications that require advanced technology and quality [30][31]. 3. Financial Data - The company reported revenues of 1.192 billion yuan, 1.189 billion yuan, and 1.421 billion yuan for 2022, 2023, and 2024, respectively, with year-over-year growth rates of 40.78%, -0.26%, and 19.49% [32]. - In the first half of 2025, the company achieved revenues of 752 million yuan, a 19.40% increase compared to the same period last year [32]. 4. Company Advantages - The company has a strong reputation in the precision stamping industry, with significant advantages in scale, technology development, product quality, and market share [37][38]. - The company has developed proprietary technologies, such as in-mold gluing, which enhance product performance and reduce manufacturing costs [37][39].