Group 1 - The core point of the announcement is the completion of the share reduction plan by major shareholders of Jiangsu Xiehe Electronics Co., Ltd. [1] - Prior to the reduction, Donghe Investment held 1,054,000 shares (1.20% of total shares) and Xiecheng Investment held 883,000 shares (1.00% of total shares) [1][2] - During the reduction period, Donghe Investment reduced its holdings by 500,000 shares (0.5682% of total shares) and Xiecheng Investment reduced its holdings by 380,000 shares (0.4318% of total shares) [1][2] Group 2 - The reduction plan was fully implemented as per the previously disclosed plan [2] - The actual reduction met the minimum reduction quantity as planned [2] - There was no early termination of the reduction plan [2]

Group 1 - The company, Xiehe Electronics, focuses on printed circuit board products and SMT business primarily in the automotive electronics and high-frequency communication sectors [1] - In recent years, the company has actively embraced the development trend in the new energy sector, providing products such as flexible printed circuits (FPC) and CCS for new energy batteries to certain clients [1]

Summary of Key Points - The company Xiehe Electronics (605258.SH) announced that during the reduction period, Donghe Investment reduced its holdings by 500,000 shares, accounting for 0.5682% of the company's total share capital [1] - Additionally, Qicheng Investment reduced its holdings by 380,000 shares, representing 0.4318% of the company's total share capital [1] - Both Donghe Investment and Qicheng Investment have completed their reduction plans [1]

| 持股比例 | 1.20% | | | --- | --- | --- | | 当前持股股份来源 | IPO | 前取得：1,054,000股 | | 股东名称 | 协诚投资 | | | | | --- | --- | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 | | √是 | □否 | | | 直接持股 | 5%以上股东 | □是 | √否 | | | | 董事、监事和高级管理人员 | □是 | √否 | | | 其他： | | | | | 持股数量 | 883,000股 | | | | | 持股比例 | 1.00% | | | | | 当前持股股份来源 | IPO | 前取得：883,000股 | | | 证券代码：605258 证券简称：协和电子 公告编号：2025-038 江苏协和电子股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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： 1 股东名称 东禾投资 股东身份 控股股东、实控人及一致行动人 √是 □否 直接持股 ...

Group 1 - The core point of the article is that Xiehe Electronics announced the completion of a share reduction plan, with significant shares sold by two investors [1] - Donghe Investment reduced its holdings by 500,000 shares, accounting for 0.5682% of the total share capital [1] - Xiehe Electronics' revenue composition for 2024 is projected to be 96.27% from printed circuit boards and 3.73% from other businesses [1] Group 2 - As of the report, Xiehe Electronics has a market capitalization of 3 billion yuan [1]

江苏协和电子股份有限公司 股票代码：SH605258 江苏协和电子股份有限公司 2025 年第二次临时股东大会 会议资料 二零二五年九月 | | | 2025 年第二次临时股东大会会议须知 3 | | --- | --- | --- | | 2025 | | 年第二次临时股东大会会议议程 5 | | 2025 | | 年第二次临时股东大会会议议案 7 | | 议案 | 1： | 关于取消监事会、调整董事会人数并修订《公司章程》的议案 7 | | 议案 | 2： | 关于增选公司第四届董事会非独立董事的议案 8 | | 议案 | 3： | 关于修订《股东会议事规则》的议案 9 | | 议案 | 4： | 关于修订《董事会议事规则》的议案 10 | | 议案 | 5： | 关于修订《独立董事工作制度》的议案 11 | | 议案 | 6： | 关于修订《对外投资管理制度》的议案 12 | | 议案 | 7： | 关于修订《对外担保管理制度》的议案 13 | | 议案 | 8： | 关于修订《关联交易决策制度》的议案 14 | | 议案 | 9： | 关于修订《累积投票实施细则》的议案 15 | 江苏协和电子股份有限 ...

Market Overview - On September 22, the component sector rose by 3.22% compared to the previous trading day, with Pengding Holdings leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Top Gainers in the Component Sector - Pengding Holdings (002938) closed at 63.45, with a gain of 10.00% and a trading volume of 485,000 shares [1] - Shenzhen South Circuit (002916) closed at 214.80, up 9.83%, with a trading volume of 118,400 shares [1] - Hongxin Electronics (300657) closed at 35.36, gaining 6.38% with a trading volume of 700,200 shares [1] - Other notable gainers include Kexiang Co. (300903) and Shengyi Technology (600183), with gains of 6.37% and 6.25% respectively [1] Market Capital Flow - The component sector experienced a net outflow of 554 million yuan from institutional investors, while retail investors saw a net inflow of 426 million yuan [2] - The overall market saw a net inflow of 128 million yuan from speculative funds [2] Individual Stock Capital Flow - Pengding Holdings had a net inflow of 4.54 billion yuan from institutional investors, representing 15.25% of its total trading volume [3] - Shenzhen South Circuit experienced a net outflow of 58.06 million yuan from speculative funds, while retail investors had a net outflow of 298 million yuan [3] - Other stocks like Shengyi Technology and Kexiang Co. also showed varied capital flows, with significant net inflows and outflows from different investor types [3]

Group 1 - The core viewpoint of the news is that Xiehe Electronics has seen a significant increase in stock price, rising by 5.08% to 32.47 yuan per share, with a total market capitalization of 2.857 billion yuan [1] - Xiehe Electronics, established on February 17, 2000, specializes in the research, production, and sales of rigid and flexible printed circuit boards, with 96.27% of its revenue coming from printed circuit boards and 3.73% from other sources [1] - The trading volume for Xiehe Electronics reached 62.8083 million yuan, with a turnover rate of 2.27% [1] Group 2 - Among the top shareholders of Xiehe Electronics, the Dazhong Fund's Dazhong CSI 360 Internet + Index A (002236) increased its holdings by 77,300 shares in the second quarter, now holding a total of 512,200 shares, which represents 0.58% of the circulating shares [2] - The Dazhong CSI 360 Internet + Index A fund has achieved a year-to-date return of 27.61% and a one-year return of 77.8%, ranking 1038 out of 4222 and 513 out of 3795 respectively [2] - The fund manager, Xia Gao, has a tenure of 10 years and 277 days, with the best fund return during this period being 200.97% [2]

Group 1: General Information - The research object is Xiehe Electronics, belonging to the electronic components industry, and the reception time was on September 1, 2025 [17] - The listed company's reception staff included the company's chairman Zhang Wenting, director and general manager Zhang Minjin, independent director Cai Zhijun, board secretary Sun Rongfa, and financial controller Zhang Wei [17] Group 2: Research Institutions - The research institutions included investors and others [20] Group 3: Core Views and Financial Data - In the first half of 2025, the company achieved an operating income of 450.5872 million yuan, a year-on-year increase of 12.13%, and the net profit attributable to the parent company's shareholders was 28.9592 million yuan, a year-on-year decrease of 8.31% [24] - The company currently has no plan for semi - annual dividends, but has focused on investor returns and has distributed cash dividends for many years since its listing, with a cumulative cash dividend of about 110 million yuan in the past three years [24] - The company is optimistic about the PCB industry. According to Prismark's prediction, the compound annual growth rate of the global PCB output value from 2024 - 2029 will reach 5.2% [24] - The company will focus on the printed circuit board industry, expand downstream application areas based on its own advantages, and provide high - quality products to customers [25] - To deal with market competition and enhance its own value, the company will continue to deepen, consolidate, and expand application areas according to its resource endowment and competitive advantages, increase market development and product R & D efforts, and improve its operating and profitability [24]

Core Viewpoint - The financial performance of Xiehe Electronics (605258) for the first half of 2025 shows a mixed result with revenue growth but a decline in net profit and profitability margins [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 reached 451 million yuan, an increase of 12.13% year-on-year [1]. - Net profit attributable to shareholders was 28.96 million yuan, down 8.31% compared to the previous year [1]. - Gross margin decreased to 18.3%, a decline of 9.8% year-on-year, while net margin fell to 6.29%, down 20.03% [1]. - The company's accounts receivable reached 366 million yuan, representing a 27.09% increase year-on-year, with accounts receivable to net profit ratio at 513.5% [1][9]. Expense and Cash Flow Analysis - Total sales, management, and financial expenses amounted to 30.94 million yuan, accounting for 6.87% of revenue, a decrease of 8.73% year-on-year [1]. - Operating cash flow per share was 0.55 yuan, down 51.29% year-on-year, indicating increased cash outflows for employee payments and taxes [1][6]. Changes in Financial Items - Cash and cash equivalents increased by 30.91% to 153 million yuan due to investments in financial products and time deposits [1]. - Short-term borrowings rose by 73.54% due to increased bank loans [2][7]. - Research and development expenses increased by 62.22%, reflecting higher investment in R&D activities [6]. Market and Operational Insights - The company attributed the revenue growth to ongoing market expansion and steady business development [2]. - The return on invested capital (ROIC) for the previous year was 5.69%, indicating average capital returns, with a historical median ROIC of 20.62% since its listing [8].