Core Viewpoint - Lito Electronics has experienced a stock price decline of 2.03% on January 13, 2023, with a current price of 28.00 CNY per share and a total market capitalization of 7.347 billion CNY [1] Group 1: Stock Performance - The stock price of Lito Electronics has increased by 5.07% year-to-date, with a 0.86% rise over the last five trading days, 1.67% over the last twenty days, and 23.40% over the last sixty days [1] - As of January 13, 2023, the trading volume was 249 million CNY, with a turnover rate of 3.44% [1] Group 2: Financial Performance - For the period from January to September 2025, Lito Electronics reported a revenue of 2.463 billion CNY, representing a year-on-year growth of 65.18%, and a net profit attributable to shareholders of 216 million CNY, reflecting a significant increase of 309.76% [2] Group 3: Shareholder Information - As of December 31, 2025, the number of shareholders for Lito Electronics increased to 33,100, marking a 3.57% rise from the previous period, while the average number of circulating shares per person decreased by 3.45% to 7,739 shares [2] - The company has distributed a total of 171 million CNY in dividends since its A-share listing, with 100 million CNY distributed over the past three years [3] Group 4: Business Overview - Lito Electronics, established on November 25, 1980, and listed on December 24, 2018, specializes in the design, production, and sales of precision metal structural components and electronic components for the LCD display sector [1] - The company's revenue composition includes precision metal stamping structural components (60.39%), computing services (32.02%), electronic components (4.24%), molds (1.49%), other (1.39%), and bases (0.47%) [1] - Lito Electronics is categorized under the electronic industry, specifically in consumer electronics and components, with relevant concepts including integrated circuits, Huawei concepts, chip concepts, and consumer electronics [1]

Group 1 - The core point of the article is that Litong Electronics (603629) has reported a total of 33,129 shareholders as of the close on December 31, 2025 [1]

一、其他非流动金融资产概述 此前，安徽富乐德科技发展股份有限公司（股票代号：301297，以下简称"富 乐德"）拟发行股份、可转换公司债券购买江苏富乐华半导体科技股份有限公司 100.00%股权并募集配套资金。 2025 年 6 月 27 日，富乐德收到中国证券监督管理委员会出具的《关于同意 安徽富乐德科技发展股份有限公司发行股份和可转换公司债券购买资产并募集 配套资金注册的批复》（证监许可〔2025〕1325 号），中国证监会同意本次交 易的注册申请。 证券代码：603629 证券简称：利通电子 公告编号：2025-088 江苏利通电子股份有限公司 关于确认其他非流动金融资产公允价值变动的公告 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个别及连带责任。 富乐德股价由 2025 年 9 月 30 日的 42.78 元/股下跌至 2025 年 12 月 31 日的 35.80 元/股。经测算，截至 2025 年 12 月 31 日收盘，公司在 2025 年 9 月 30 日 确认的基础上，于 2025 年 12 月 31 日确认其他非 ...

Core Viewpoint - The announcement from Litong Electronics indicates a significant change in the valuation of its investment in Fulade, with a notable loss in the fair value of financial assets impacting the company's profits for the fourth quarter of 2025 [1] Financial Performance - As of December 31, 2025, Litong Electronics confirmed a loss of 22.447 million yuan due to changes in the fair value of other non-current financial assets, which is expected to reduce the profit for Q4 2025 by the same amount [1] - For the entire year of 2025, the company reported a cumulative fair value change gain of 62.71 million yuan, which is anticipated to increase the annual profit by the same amount [1] Stock Performance - The stock price of Fulade decreased from 42.78 yuan per share on September 30, 2025, to 35.80 yuan per share by December 31, 2025, reflecting a decline in market valuation [1]

Core Viewpoint - The article discusses a case involving two analysts from a brokerage firm who were convicted of accepting bribes to produce biased research reports, which contributed to stock price manipulation of a listed company, Jiangsu Litong Electronics Co., Ltd. [1][2] Group 1: Case Details - Analysts Zou and Cheng were sentenced to ten months and eight months in prison, respectively, with a one-year probation and a fine of 100,000 yuan each for accepting bribes [1][2] - Zou received 180,000 yuan for writing a report to boost market interest in Jiangsu Litong Electronics, while Cheng facilitated communication and received 50,000 yuan [2] - The case highlights a complete chain of interest transfer, from the company paying bribes to analysts producing tailored reports that inflated stock prices, allowing major shareholders to cash out at peak prices [1][2] Group 2: Stock Price Movement - Jiangsu Litong Electronics' stock price surged from 12.20 yuan per share in early April 2023 to a peak of 40.51 yuan per share by mid-November 2023, marking a 232% increase [3] - Following the price surge, major shareholders began to sell their shares, with the third-largest shareholder reducing their holdings by 2.2231 million shares at an average price of 32.7 yuan per share, cashing out approximately 73 million yuan [3] Group 3: Regulatory Implications - The incident underscores the need for independent and impartial research reports, as the practice of paid reports undermines analyst integrity and violates legal standards [4] - Regulatory authorities have maintained a stringent stance against violations in brokerage research, with recent actions categorizing paid reports as criminal offenses [5] - The case is part of a broader context where Jiangsu Litong Electronics was previously implicated in stock manipulation schemes, indicating ongoing scrutiny of its market activities [5]

Group 1 - The core point of the article is that Litong Electronics reported a total of 31,987 shareholders as of the market close on December 19, 2025 [2]

Group 1 - The company, Litong Electronics, announced the completion of its business registration change, increasing its registered capital to 262.08 million yuan [1] - The company's registered address remains in Yixing City, Xushe Town Industrial Concentration Zone, at No. 8 Xufeng Road [1] - The company has canceled its supervisory board, transferring its responsibilities to the audit committee of the board of directors [1] Group 2 - The company has revised its articles of association and related systems, which have been approved by the Wuxi Data Bureau, and has received a new business license [1]

江苏利通电子股份有限公司章程 | | | 江苏利通电子股份有限公司章程 第一章 总则 第一条 为维护江苏利通电子股份有限公司（以下简称"公司"）、股东、 职工和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券 法》"）和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司（以 下简称"公司"）。 （二○二五年十二月） | | | 担任法定代表人的董事辞任的，视为同时辞去法定代表人。 公司由江苏利通电子有限公司整体变更设立，在登记机关注册登记，取得营 业执照，社会统一信用代码为 913202821429014964。 公司于 2018 年 9 月 4 日经中国证券监督管理委员会（以下简称"中国证监 会"）批准，首次向社会公众发行人民币普通股 2,500 万股，均为公司向境内投 资人发行的人民币认购的内资股，并于 2018 年 12 月 24 日在上海证券交易所上 市。 第三条 公司注册名称： （一）公司注册名称：江苏利通电子股份有限公司。 （二）中文简称：利通电子。 （三）英文全称：J ...

关于完成工商登记变更并换发营业执照的公告 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个别及连带责任。 证券代码：603629 证券简称：利通电子 公告编号：2025-087 江苏利通电子股份有限公司 2025 年 9 月 15 日，江苏利通电子股份有限公司（以下简称"公司"）召开 第三届董事会第二十四次会议和第三届监事会第十七次会议，审议通过了《关于 向激励对象首次授予限制性股票的议案》。根据公司《2025 年限制性股票激励计 划（草案修订稿）》的相关规定和公司 2025 年第三次临时股东会的授权，董事会 认为 2025 年限制性股票激励计划授予条件已经成就，确定以 2025 年 9 月 15 日 为首次授予日，向符合授予条件的 8 名激励对象授予 215.00 万股限制性股票。 公司首次授予的 215.00 万股限制性股票已于 2025 年 11 月 6 日在中登公司上海 分公司完成登记过户，并取得其出具的《证券变更登记证明》。因此，公司修改 注册资本，由 25,993 万变更为 26,208 万。 为进一步规范公司运作，完善公司 ...

Core Viewpoint - A recent criminal judgment from the Shanghai Pudong New District People's Court has exposed the corruption within the brokerage research report sector, highlighting the issue of "customized research reports" and raising concerns about the independence of brokerage reports and compliance in the capital market [1][3]. Group 1: Case Details - Analysts Zou and Cheng from a brokerage firm were sentenced for accepting bribes in exchange for creating tailored research reports to boost the stock price of Jiangsu Litong Electronics Co., Ltd. [1][3] - The court found that in April 2023, Zou and Cheng engaged in a "report for money" transaction, leveraging Zou's position to enhance the company's visibility in the secondary market [1][3]. Group 2: Financial Transactions - Zou received a bribe of 180,000 yuan, while Cheng, acting as an intermediary, received 50,000 yuan, totaling 230,000 yuan in illicit gains [2][8]. - The case came to light due to increased regulatory scrutiny, with Cheng voluntarily reporting to the police in December 2024, followed by both analysts confessing to their crimes in January 2025 [2][8]. Group 3: Court Ruling - The court ruled that both analysts committed bribery, with Zou receiving a ten-month prison sentence (suspended for one year) and Cheng receiving an eight-month sentence (also suspended for one year), along with fines of 100,000 yuan each [3][9]. - The judgment noted that the timing of the research report's release coincided with significant stock price movements for Litong Electronics, raising questions about the motivations behind the report [3][9]. Group 4: Market Impact - Following the release of the tailored report, Litong Electronics' stock price surged, reaching a historical high of 40.51 yuan per share in November 2023, representing an increase of over 155% for the year [4][10]. - The report was one of the first significant analyses of Litong Electronics since its listing in December 2018, leading to skepticism regarding its timing and intent [4][10].