Core Points - The stock of Shikong Technology increased by 6.70% today [1] - The trading volume reached 1.828 billion yuan [1] - The turnover rate was 24.40% [1] - Two institutional special seats net bought 208 million yuan in the after-hours trading [1]

Core Viewpoint - The company, Shikong Technology, is responding to inquiries from the Shanghai Stock Exchange regarding its major asset acquisition plan, specifically addressing the performance fluctuations, sustainable profitability, and merger value of the target company, Jiahe Jingwei [1] Group 1: Acquisition Details - The transaction aims to acquire 100% equity of Jiahe Jingwei through a combination of share issuance and cash payment, intending to diversify into the storage industry to improve the company's weak main business performance [1] - Jiahe Jingwei specializes in the research, design, and sales of storage products such as memory modules and solid-state drives, showing significant performance volatility [1] Group 2: Financial Performance - In 2023, Jiahe Jingwei reported a net loss of 20.16 million yuan, but is projected to turn profitable in 2024 with a net profit of 42.26 million yuan, and continued profitability in the first eight months of 2025 with a net profit of 42.11 million yuan [1] - The performance fluctuations are attributed to the cyclical nature of the storage industry, which typically operates on a 3-4 year cycle, significantly influenced by supply and demand dynamics [1] Group 3: Market Conditions - The storage industry is currently at the bottom of its cycle in 2023, with low global market prices leading to reduced revenues and increased expense ratios for companies, including Jiahe Jingwei [1] - A recovery in demand, particularly driven by increased investments in infrastructure such as GPUs, is expected to boost the overall market and Jiahe Jingwei's revenue by 57.36% year-on-year in 2024 [1] Group 4: Inventory and Risk Management - Jiahe Jingwei has a large inventory scale, but the current high industry sentiment suggests a low risk of inventory impairment [2] - The company has emphasized that its business does not engage in high value-added areas, indicating a need for improved profitability, while being constrained by international trade conditions and supply chain concentration [2] - As the second-largest player in the global third-party memory module market, Jiahe Jingwei maintains stable supply chain partnerships and possesses strong core competitiveness through proprietary testing technologies [2]

Group 1 - The new urbanization concept is gaining strength, with companies like Huaxia Happiness, Shikong Technology, and Tianjian Group hitting the daily limit up [1] - Anju Bao, Hainan Ruize, and Pubang Shares are among the top gainers in terms of percentage increase [1]

Core Insights - The stock price of Shikong Technology increased by 2.15% on November 14, reaching 73.15 CNY per share, with a total market capitalization of 7.248 billion CNY [1] - The company has seen a significant stock price increase of 409.05% year-to-date, although it has experienced a decline of 8.55% over the last five trading days [1] - Shikong Technology's main business revenue is derived from nighttime economy (60.71%) and smart city projects (39.14%) [1][2] Financial Performance - For the period from January to September 2025, Shikong Technology reported a revenue of 215 million CNY, reflecting a year-on-year growth of 5.18% [2] - The company recorded a net profit attributable to shareholders of -116 million CNY, which represents a year-on-year increase of 14.63% [2] - Cumulative cash dividends since the company's A-share listing amount to 13.4699 million CNY, with no dividends distributed in the past three years [3] Shareholder Information - As of September 30, the number of shareholders for Shikong Technology was 8,924, a decrease of 9.71% from the previous period [2] - The average number of circulating shares per shareholder increased by 10.57% to 11,102 shares [2] Market Activity - The company has appeared on the "Dragon and Tiger List" 10 times this year, with the most recent appearance on November 11, where it recorded a net purchase of 44.0209 million CNY [1] - The total buying and selling on that day amounted to 280 million CNY and 236 million CNY, respectively, accounting for 18.60% and 15.68% of total trading volume [1]

北京新时空科技股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易预案（摘要） 股票代码：605178 股票简称：时空科技 上市地点：上海证券交易所 北京新时空科技股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易预案（摘要） （修订稿） | 项目 | 交易对方 | | --- | --- | | 发行股份及支付现金 | 张丽丽、陈晖、深圳东珵管理咨询合伙企业（有限合伙）、深圳普 | | 购买资产 | 沃创达管理咨询合伙企业（有限合伙）等 19 名交易对方 | | 募集配套资金 | 宫殿海 | 二零二五年十一月 1 北京新时空科技股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易预案（摘要） 上市公司声明 本公司及全体董事、监事、高级管理人员保证本预案摘要内容的真实、准确、 完整，不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性和完整 性承担个别和连带的法律责任。 本公司控股股东、实际控制人、董事、监事、高级管理人员承诺：如本次交 易所披露或提供的信息涉嫌虚假记载、误导性陈述或者重大遗漏，被司法机关立 案侦查或者被中国证监会立案调查的，在形成调查结论以前，不 ...

证券代码：605178 证券简称：时空科技 公告编号：2025-082 北京新时空科技股份有限公司 关于上海证券交易所《关于对北京新时空科技股份有限公司重 大资产购买预案信息披露的问询函》的回复公告 1 际控制人本次认购资金存在无法按期足额筹集的风险。若本次募集配套资金失败或 低于预期，则上市公司需通过自有资金或自筹资金支付现金交易对价，可能对上市 公司资金使用和财务状况产生影响，极端情况下存在因资金不足导致交易失败的风 险。 本次交易存在因上市公司股价的异常波动或异常交易可能涉嫌内幕交易、各 方后续商务谈判中产生重大分歧、标的资产出现无法预见的风险事件等，而被暂停、 中止或取消的风险。另外，本次交易审计评估未完成、作价尚未确定、交易方案调 整、标的公司原材料供应商集中度较高、客户集中度较高等风险，请投资者关注公 司已披露的《发行股份及支付现金购买资产并募集配套资金暨关联交易预案（修订 稿）》。 北京新时空科技股份有限公司（以下简称"公司""上市公司""时空科技"） 于 2025 年 10 月 30 日收到上海证券交易所《关于对北京新时空科技股份有限公司重 大资产购买预案信息披露的问询函》上证公函【2025】 ...

北京新时空科技股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易预案 股票代码：605178 股票简称：时空科技 上市地点：上海证券交易所 北京新时空科技股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易预案 （修订稿） | 项目 | 交易对方 | | --- | --- | | 发行股份及支付现金 | 张丽丽、陈晖、深圳东珵管理咨询合伙企业（有限合伙）、深圳 | | 购买资产 | 普沃创达管理咨询合伙企业（有限合伙）等 名交易对方 19 | | 募集配套资金 | 宫殿海 | 二零二五年十一月 1 北京新时空科技股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易预案 上市公司声明 本公司及全体董事、监事、高级管理人员保证本预案内容及其摘要内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准 确性和完整性承担个别和连带的法律责任。 本公司控股股东、实际控制人、董事、监事、高级管理人员承诺：如本次交 易所披露或提供的信息涉嫌虚假记载、误导性陈述或者重大遗漏，被司法机关立 案侦查或者被中国证监会立案调查的，在形成调查结论以前，不转让在该上市公 ...

Core Viewpoint - The storage chip sector is experiencing a strong performance, driven by significant price increases from leading manufacturers, particularly in response to the growing demand from artificial intelligence technologies [1][2][3] Group 1: Market Performance - Baiwei Storage saw a surge of over 15%, reaching a stock price of 145.18 yuan per share, with a trading volume of nearly 2.8 billion yuan [1][2] - Other companies in the sector, such as Zhaoyi Innovation and Microguide Nano, also experienced gains exceeding 7% [1][2] - The overall market sentiment is positive, with several stocks in the storage sector showing substantial increases [1][2] Group 2: Price Increases - SanDisk, a leading overseas storage manufacturer, announced a price increase of up to 50% for flash memory contracts, which has garnered significant attention in the industry [2] - This price adjustment is part of a broader trend where major storage manufacturers have raised product prices multiple times throughout the year [3] Group 3: Demand Drivers - The rapid development of artificial intelligence technology is identified as the fundamental driver behind the soaring demand for storage products [3] - AI servers and terminal products are placing higher requirements on the quantity and performance of storage devices, leading to a "super cycle" in the storage industry [3] - The demand for high-end storage products is experiencing explosive growth due to the specific needs for speed, capacity, and power consumption driven by AI advancements [3]

Core Viewpoint - The stock of Shikong Technology (605178) experienced a significant decline of 8.87% on the trading day, with a turnover rate of 21.34% and a total transaction amount of 1.507 billion yuan, indicating high volatility and investor activity [2]. Trading Activity - The stock was listed on the Shanghai Stock Exchange's watchlist due to a daily price deviation of -8.47%, with institutional investors net buying 60.2439 million yuan [2]. - The top five trading departments accounted for a total transaction volume of 517 million yuan, with a net buying amount of 44.0209 million yuan [2]. - Among the trading departments, two institutional special seats were involved, with a total buying amount of 131.2210 million yuan and selling amount of 70.9771 million yuan, resulting in a net buying of 60.2439 million yuan [2]. Fund Flow - The stock saw a net outflow of 166.7 million yuan from major funds, with a significant outflow of 110 million yuan from large orders over the trading day [2]. - Over the past five days, the net outflow from major funds reached 362 million yuan [2]. Financial Performance - The company reported a total operating revenue of 215 million yuan for the first three quarters, reflecting a year-on-year growth of 5.18%, while the net profit stood at -116 million yuan [2].

Group 1 - The stock of Shikong Technology fell by 8.87% today, with a trading volume of 1.507 billion yuan and a turnover rate of 21.34% [1] - Post-market data shows that one institutional special seat net bought 131 million yuan, while another institutional special seat net sold 70.9771 million yuan [1]