Group 1 - Zhejiang Fu Holdings stated that its subsidiary, Zhejiang Fu Capital, has invested in several listed companies including Spring Autumn Electronics, Fenglong Co., Ltd., Shangluo Electronics, Zhejiang Liming, Heshun Technology, Taotao Automotive, and Zhongxin Co., Ltd. [1] - The company also mentioned that multiple enterprises are either in the process of applying for or preparing to apply for listing [1]

Core Viewpoint - The China Securities 2000 Enhanced ETF (159552) experienced a decline of 1.18% as of the midday close on November 18, with a trading volume of 30.6341 million yuan [1] Group 1: ETF Performance - The China Securities 2000 Enhanced ETF (159552) closed at 2.011 yuan, with a year-to-date return of 103.45% since its inception on June 19, 2024 [1] - The ETF's one-month return stands at 5.62% [1] Group 2: Top Holdings Performance - Among the top holdings, Haopeng Technology fell by 2.01%, Asia-Pacific Shares decreased by 1.78%, and Fuchun Environmental dropped by 3.35% [1] - Conversely, Fostar increased by 0.82%, and Chunyue Electronics saw a slight rise of 0.07% [1] - Other notable movements include Hailide's decline of 2.45%, Junya Technology's increase of 0.32%, and StarNet's rise of 1.23% [1] - Jiao Dian Technology experienced a significant gain of 3.73% [1]

Core Viewpoint - The company will hold an investor briefing on November 27, 2025, to discuss its Q3 2025 financial results and operational performance, allowing for interactive communication with investors [2][3][4]. Group 1: Meeting Details - The investor briefing is scheduled for November 27, 2025, from 14:00 to 15:00 [4]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center, accessible online [4]. - The format of the meeting will be an online text interaction, enabling real-time communication with investors [3][5]. Group 2: Participation Information - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center on the scheduled date [5]. - A pre-question submission period is available from November 20 to November 26, 2025, allowing investors to submit questions via the website or email [6]. - The company will address commonly asked questions during the briefing, within the limits of information disclosure regulations [6]. Group 3: Key Personnel - Key participants in the briefing will include the Chairman and General Manager, Mr. Xue Gewen, the Director and CFO, Ms. Lu Qiuping, Independent Director, Mr. Wang Ya, and the Board Secretary, Ms. Lü Lu [4].

Core Viewpoint - The company is actively engaging with investors regarding its competitive landscape in the magnesium alloy product sector, highlighting its advanced technology and applications in high-end laptops and electric vehicles [1] Company Overview - The company's magnesium alloy products are primarily used in high-end laptop models and new energy vehicles [1] - The company employs semi-solid injection molding technology, which is considered advanced and safe within the magnesium-aluminum forming industry [1] Industry Context - The magnesium alloy sector is competitive, with several key players, although specific competitors were not disclosed in the interaction [1]

| 证券代码：603890 | 证券简称：春秋电子 | 公告编号：2025-067 | | --- | --- | --- | | 债券代码：113667 | 债券简称：春23转债 | | 苏州春秋电子科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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法律责任。 重要内容提示： （网址：https://roadshow.sseinfo.com/） 会议召开时间：2025 年 11 月 27 日（星期四）14:00-15:00 会议召开地点：上海证券交易所上证路演中心 （三）会议召开方式：上证路演中心网络文字互动 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 11 月 20 日（星期四）至 11 月 26 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过苏州春秋电子科技 股份有限公司（以下简称"公司"）邮箱（zhengquan@chunqiu-group.com）进行 提问。公司将在信息披露允许的范围内，于说明会上对投资者普遍关 ...

Core Viewpoint - The China Securities 2000 ETF managed by Huaxia Fund has experienced a decline of 1.12% as of the midday close on November 12, with a trading volume of 11.11 million yuan [1] Group 1: ETF Performance - The China Securities 2000 ETF (562660) closed at 1.673 yuan, down 1.12% [1] - Since its inception on September 6, 2023, the fund has achieved a return of 68.85%, with a monthly return of 4.43% [1] Group 2: Major Holdings Performance - Major holdings in the ETF include Tian'ao Electronics, which fell by 1.23%, and Guoen Co., which dropped by 4.47% [1] - Other notable declines include Asia-Pacific Shares down 2.36%, Baosheng Shares down 3.07%, and Green Power down 0.13% [1] - The largest decline was seen in Jieput, which fell by 6.34%, while Daon Shares decreased by 2.51% [1]

Core Viewpoint - Spring Autumn Electronics has experienced fluctuations in stock performance, with a notable increase in revenue and net profit year-on-year, indicating potential growth in the consumer electronics sector [1][2]. Financial Performance - As of September 30, 2025, Spring Autumn Electronics reported a revenue of 3.197 billion yuan, representing a year-on-year growth of 7.21% [2]. - The company's net profit attributable to shareholders reached 231 million yuan, showing a significant increase of 63.91% compared to the previous year [2]. - The stock price has increased by 32.84% year-to-date, with a recent 1.52% rise over the last five trading days [1]. Stock Market Activity - On November 12, the stock price fell by 2.03%, trading at 15.41 yuan per share with a total transaction volume of 172 million yuan [1]. - The stock has seen a net outflow of 24.51 million yuan from major funds, with significant selling pressure compared to buying [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the latest instance on January 7, where it recorded a net purchase of 29.09 million yuan [1]. Company Overview - Spring Autumn Electronics, established on August 23, 2011, and listed on December 12, 2017, specializes in the R&D, design, production, and sales of precision structural components and molds for consumer electronics [2]. - The revenue breakdown shows that structural components account for 89.95%, communication equipment for 5.50%, molds for 2.88%, and other sources for 1.66% [2]. - The company is categorized under the electronic industry, specifically in consumer electronics components and assembly [2]. Shareholder Information - As of September 30, 2025, the number of shareholders is approximately 40,900, a decrease of 1.08% from the previous period [2]. - The average number of circulating shares per shareholder is 10,827, which has increased by 2.08% [2]. - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, which holds 5.7876 million shares as a new investor [3]. Dividend Distribution - Since its A-share listing, Spring Autumn Electronics has distributed a total of 359 million yuan in dividends, with 107 million yuan distributed over the past three years [3].

Core Points - The company announced the conversion and redemption results of its convertible bonds, "Chunqiu Convertible Bonds," indicating a significant conversion into A-shares and the completion of the redemption process [2][4][8] Group 1: Conversion Details - As of the redemption registration date (November 6, 2025), a total of RMB 239,665,000 worth of "Chunqiu Convertible Bonds" has been converted into 22,524,112 shares, representing 5.8538% of the company's total shares before conversion [2][14] - From October 1, 2025, to the redemption registration date, RMB 131,900,000 worth of bonds were converted into 12,561,287 shares [3][14] Group 2: Redemption Information - The remaining balance of unconverted "Chunqiu Convertible Bonds" as of the redemption registration date was RMB 335,000, accounting for 0.1971% of the total issuance [4][13] - The total redemption amount paid out was RMB 340,698.35, including accrued interest, with the redemption payment date set for November 7, 2025 [4][16] Group 3: Bond Issuance Overview - The company issued 2.4 million convertible bonds on April 14, 2020, with a total value of RMB 24 million and a maturity of six years [5] - The initial conversion price was set at RMB 15.69 per share, which has been adjusted multiple times due to profit distributions and other factors, with the latest adjustment bringing it to RMB 10.50 per share [7][12] Group 4: Impact on Company Structure - Following the redemption, the company's total share capital increased to 455,944,211 shares, which may temporarily dilute earnings per share but is expected to enhance the company's capital strength for sustainable development [16]

| 证券代码：603890 | 证券简称：春秋电子 | 公告编号：2025-066 | | --- | --- | --- | | 债券代码：113577 | 债券简称：春秋转债 | | | 债券代码：113667 | 债券简称：春23转债 | | "春秋转债"赎回情况： 截至赎回登记日（2025 年 11 月 6 日），尚未转股的"春秋转债"余额为人 民币 335,000 元，占"春秋转债"发行总量的比例为 0.1971%。公司已于赎回款 发放日（2025 年 11 月 7 日）将未转股的"春秋转债"全部赎回，赎回兑付总金 额为人民币 340,698.35 元（含当期利息）。 苏州春秋电子科技股份有限公司 关于"春秋转债"转股及赎回结果暨股份变动公告 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法律责任。 重要内容提示： 截至赎回登记日（2025 年 11 月 6 日），累计已有人民币 239,665,000 元"春 秋转债"转换为苏州春秋电子科技股份有限公司（以下简称"公司"、"本公司"） A 股股票，累计转股数量为 22,524 ...

Market Overview - The consumer electronics sector experienced a decline of 3.19% on November 7, with Tonglian Precision leading the drop [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable gainers in the consumer electronics sector included: - Hongxi Technology, up 18.52% to 35.90, with a trading volume of 51,900 shares and a turnover of 173 million [1] - Spring Autumn Electronics, up 6.01% to 16.40, with a trading volume of 519,700 shares and a turnover of 843 million [1] - Major decliners included: - Tonglian Precision, down 5.72% to 60.68, with a trading volume of 51,000 shares and a turnover of 315 million [2] - Dingye Fuliang, down 4.62% to 72.70, with a trading volume of 1,585,400 shares and a turnover of 11.558 billion [2] Capital Flow - The consumer electronics sector saw a net outflow of 4.261 billion from institutional investors, while retail investors contributed a net inflow of 3.84 billion [2][3] - Specific stock capital flows indicated: - Lansi Technology had a net inflow of 68.39 million from retail investors, while it faced a net outflow of 23.4 million from institutional investors [3] - Feirongda experienced a net inflow of 63.82 million from institutional investors but a net outflow of 65.92 million from retail investors [3]