Group 1 - Huate Gas plans to reduce its shareholding by up to 2% through block trading from June 9, 2025, to September 8, 2025, totaling no more than 2.4 million shares [1] - Huazhong Co. reported April sales of 208,200 pigs, with a revenue of 375 million yuan, showing a month-on-month decrease of 4.28% [2] - Haizheng Biomaterials intends to reduce its shareholding by up to 1% starting from June 9, 2025, due to funding needs [3] Group 2 - Lisheng Sports plans to repurchase shares worth between 20 million and 40 million yuan for employee stock ownership plans [5] - Hongjing Technology signed a service contract worth 563 million yuan for a smart computing project, lasting five years [6] - Ugreen Technology aims to participate in the pre-restructuring of Zhongzhi Real Estate, targeting 100% equity acquisition [8] Group 3 - Jingquan Hua plans to reduce its shareholding by up to 1.67% starting from June 6, 2025 [9] - New Times plans to reduce its shareholding by up to 0.3% starting from June 6, 2025 [10] - Baofeng Energy intends to repurchase shares worth between 1 billion and 2 billion yuan, with a maximum price of 22.80 yuan per share [10] Group 4 - Yuanli Co. plans to reduce its shareholding by up to 3% starting from June 6, 2025 [14] - Huakai Yibai intends to reduce its shareholding by up to 3% starting from June 6, 2025 [15] - Guangshengtang's innovative hepatitis B drug GST-HG131 has completed Phase II clinical trials, showing significant efficacy [17] Group 5 - Electric Media plans to invest 115 million yuan in a cultural technology venture capital fund, which has a total expected scale of 2 billion yuan [21] - China Merchants Port reported a total of 17.059 million TEUs in April, a year-on-year increase of 6% [23] - Changguang Huaxin plans to reduce its shareholding by up to 2% starting from June 9, 2025 [25] Group 6 - Huace Film plans to reduce its shareholding by up to 1.11% starting from June 6, 2025, to reduce debt [26] - BeiGene's HHLR Fund reduced its shareholding from 6.03% to 4.89% after selling 16 million shares [27] - Heertai plans to reduce its shareholding by up to 2.05% starting from June 6, 2025 [28] Group 7 - Biyin Lefen's director plans to reduce his shareholding by up to 491,300 shares starting from June 6, 2025, due to personal funding needs [29]

Core Viewpoint - The announcement reveals that Guotou (Shanghai) Technology Achievement Transformation Venture Capital Fund plans to reduce its stake in Changguang Huaxin due to personal funding needs, with a total reduction not exceeding 3,525,598 shares, accounting for no more than 2% of the company's total share capital [1][2]. Summary by Relevant Sections Shareholder Reduction Plan - Guotou (Shanghai) Technology Achievement Transformation Venture Capital Fund intends to reduce its holdings through centralized bidding and block trading, with a maximum of 3,525,598 shares to be sold [1][2]. - The reduction period is set from June 9, 2025, to September 8, 2025, with specific limits on the number of shares that can be sold through each method [2][3]. Current Shareholding Status - As of the announcement date, Guotou (Shanghai) holds 10,419,882 shares, representing 5.91% of the total share capital of Changguang Huaxin [2][3]. - The shares held by Guotou (Shanghai) were acquired before the IPO and through other means, with a total of 8,015,294 shares obtained prior to the IPO and 2,404,588 shares acquired through other methods [3]. Company Financials and Background - Changguang Huaxin went public on April 1, 2022, with a total issuance of 33.9 million shares at a price of 80.80 yuan per share, raising a total of 2.739 billion yuan [6][7]. - The company is currently in a state of share price decline, having experienced a drop below the IPO price [8].

Investment Rating - The industry investment rating is "Positive" (maintained) [5] Core Insights - The recent escalation of the India-Pakistan conflict has highlighted the urgent demand for anti-drone technologies, particularly laser weapon systems [1] - The rapid development and effectiveness of drone technology have made drones a crucial platform in modern warfare, as evidenced by their extensive use in conflicts such as Ukraine and the Middle East [1] - The global anti-drone market is projected to grow significantly, from USD 843 million in 2021 to USD 5.7 billion by 2029, reflecting a compound annual growth rate (CAGR) of 27% [2] Summary by Sections Section 1: Industry Overview - The conflict between India and Pakistan has led to increased military drone usage, emphasizing the need for effective countermeasures [1] - Drones are now recognized as vital combat platforms in various global conflicts, performing tasks such as reconnaissance and electronic warfare [1] Section 2: Market Growth - The anti-drone market is expected to expand rapidly due to both military applications and the rise of unauthorized civilian drone flights [2] - Laser weapon systems are particularly advantageous for countering drones due to their low collateral damage, cost-effectiveness, and rapid response capabilities [2] Section 3: Investment Recommendations - Key companies to focus on include: - Raycus Laser, a leader in fiber laser technology, with a projected shipment of 174,700 units in 2024, a year-on-year increase of 9.77% [3] - Lianchuang Optoelectronics, which has successfully developed laser countermeasure systems and is expected to see growth driven by domestic and foreign demand [3] - Changguang Huaxin, which is also positioned to benefit from the rising demand in the laser weapon sector [3]

Core Viewpoint - The major shareholder, Guotou (Shanghai) Technology Achievement Transformation Venture Capital Fund, plans to reduce its stake in Suzhou Changguang Huaxin Optoelectronic Technology Co., Ltd. due to personal funding needs, with a total reduction not exceeding 3,525,598 shares, which is about 2% of the company's total share capital [1][2]. Shareholder Information - As of the announcement date, Guotou (Shanghai) Technology Achievement Transformation Venture Capital Fund holds 10,419,882 shares, accounting for 5.91% of the total share capital of Changguang Huaxin [1][2]. - The shares held by the major shareholder were acquired before the company's initial public offering (IPO) and through stock bonuses, with 8,015,294 shares obtained prior to the IPO and 2,404,588 shares obtained through other means [2]. Reduction Plan Details - The reduction plan includes a maximum of 1,762,799 shares to be sold through centralized bidding and another 1,762,799 shares through block trading, with the reduction period starting fifteen trading days after the announcement and lasting for three months [2][3]. - The shareholder has committed to not transferring or entrusting the management of shares held prior to the IPO for twelve months following the stock's listing [3][4]. Compliance and Regulations - The shareholder's reduction plan will comply with the relevant regulations, including the "Special Regulations on the Reduction of Shares by Venture Capital Fund Shareholders of Listed Companies" and the "Implementation Rules for the Reduction of Shares by Venture Capital Fund Shareholders of Listed Companies" [3][4]. - The shareholder has made commitments regarding the holding period and reduction methods, ensuring adherence to legal and regulatory requirements [4][5].

证券代码：688048 证券简称：长光华芯 公告编号：2025-032 苏州长光华芯光电技术股份有限公司 股东减持股份计划公告 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、准确性和完整性依法承担法律 责任。 重要内容提示： 大股东持有的基本情况 截止本公告披露日，国投（上海）科技成果转化创业投资基金企业（有限合 伙）（以下简称"国投创业上海基金"）持有苏州长光华芯光电技术股份有限公司 （以下简称"长光华芯"或"公司"）股份 10,419,882 股，占公司总股本的 5.91%， 为公司首次公开发行前取得的股份及公司送股所得，已于 2023 年 10 月 9 日解除 限售并上市流通。 减持计划的主要内容 公司于近日收到股东国投创业上海基金出具的《关于股份减持计划告知函》， 因股东自身资金需求，需要减持公司股份。 国投创业上海基金计划通过集中竞价、大宗交易方式合计减持数量不超过 3,525,598 股（占公司总股本比例不超过 2%），其中：以集中竞价交易方式减持 股份，减持期间为自公司公告披露之日起十五个交易日后的三个月内，减持数量 不超过 1, ...

证券代码：688048 证券简称：长光华芯 公告编号：2025-031 苏州长光华芯光电技术股份有限公司 关于召开 2024 年度暨 2025 年第一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、准确性和完整性依法承担法律责任。 重要内容提示： 投资者可于 2025 年 05 月 13 日 （星期二） 至 05 月 16 日 （星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目进行提问。公司将在说明 会上对投资者普遍关注的问题进行回答。 苏州长光华芯光电技术股份有限公司（以下简称"公司"）已于 2025 年 4 月 30 日发布公司 2024 年度报告及 2025 年第一季度报告，为便于广大投资者更 全面深入地了解公司 2024 年度及 2025 年第一季度经营成果、财务状况，公司计 划于 2025 年 05 月 19 日 （星期一） 11:00-12:00 举行 2024 年度暨 2025 年第 一季度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 20 ...

特此公告。 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、准确性和完整性依法承担法律责任。 一、获得补助的基本情况 苏州长光华芯光电技术股份有限公司（以下简称"公司"）及全资子公司自 2025 年 1 月 1 日至本公告披露之日，累计获得政府补助款项共计人民币 10,399,716.47 元，其中与收益相关的政府补助 8,177,494.25 元，与资产相关的政 府补助 2,222,222.22 元。 二、补助的类型及其对上市公司的影响 公司根据《企业会计准则第 16 号——政府补助》的有关规定，确认上述事 项并划分补助类型。上述政府补助预计对公司利润产生一定积极影响，具体的会 计处理以及对公司损益的影响情况仍须以审计机构年度审计确认后的结果为准， 敬请广大投资者注意投资风险。 证券代码：688048 证券简称：长光华芯 公告编号：2025-030 苏州长光华芯光电技术股份有限公司 关于获得政府补助的公告 苏州长光华芯光电技术股份有限公司董事会 2025 年 5 月 10 日 ...

Group 1 - The company and its wholly-owned subsidiary have received a total of government subsidies amounting to 10.3997 million yuan from January 1, 2025, to the date of the announcement [1] - Among the total subsidies, 8.1775 million yuan is related to income, while 2.2222 million yuan is related to assets [1] - The government subsidies are expected to have a positive impact on the company's profits, although the specific accounting treatment and impact on the company's financial results will be confirmed after the annual audit by the auditing agency [1]

Summary of Long光华芯 Conference Call Company Overview - **Company**: 长光华芯 (Changguang Huaxin) - **Industry**: Optical Communication and High-Power Laser Products Key Points and Arguments Financial Performance - In Q1 2025, the company achieved revenue of 94.28 million, a year-on-year increase of 79% and a quarter-on-quarter increase of 35% [3] - The net profit was a loss of 7.5 million, which is an improvement from a loss of 11.95 million year-on-year and a loss of 28.85 million quarter-on-quarter [3] - The revenue growth was primarily driven by high-power products and strategic planning in the second growth curve [3] Revenue Projections - For Q2 2025, the company expects to continue its rapid growth, with April revenue exceeding 55 million [5] - The annual revenue target is to achieve a year-on-year growth of over 40% and reach breakeven [2][5] Product Performance - High-power single-tube series (chips and modules) accounted for approximately 87% of total revenue in Q1 2025, amounting to 72 million [6] - The company has received significant orders for 100G EML and expects increased delivery volumes in Q2 and Q3 [2][10] - The first batch of optical communication chips generated revenue of approximately 6.42 million [6] Capital Expenditure - Capital expenditures in 2025 will focus on R&D and yield improvement for high-power single-tube series, production investments in automotive lidar, and expansion of backend testing equipment [7] - The company plans to establish a silicon photonics integrated manufacturing platform, with announcements expected in May [4][27] Market Dynamics - The demand for high-power products is increasing due to the concentration of the fiber laser industry, leading to stable sales orders [3][18] - Domestic internet companies are significantly increasing their investments in data centers, with budgets raised by 1.5 to 2 times, creating a favorable market environment for the company [26] Product Development and Strategy - The company is expanding its product lines into laser communication and satellite fields, with a focus on high-margin products [2][13] - The company has built a material system covering GaAs, GaN, and InP, with GaAs blue light products already in mass production [2][13] Profitability and Margins - The gross margin is expected to improve due to product structure adjustments and yield improvements in high-power chips [4][16] - The company has strategically abandoned low-margin products to focus on high-margin products, which is expected to enhance profitability [16] Special Applications - The growth trend in special applications is expected to be significantly better than previous years, primarily driven by domestic demand [8][9] Competitive Position - The company's products are priced 5% to 10% lower than imported products, enhancing its competitive position in the market [26] Future Outlook - The company anticipates that the three main optical communication products will generate revenue between 50 million and 100 million in 2025 [20] - The next-generation 200G EML is scheduled for customer validation in Q3 2025 [11] Additional Important Information - The company is focusing on vertical and horizontal expansion strategies, with plans to enhance its industrial laser, optical communication, sensor, and medical laser segments [22] - The production capacity utilization is high, and the company is prepared to meet market demand through planned investments and yield improvements [23]

Investment Rating - The report maintains a "Buy" rating for several key companies in the semiconductor and AI sectors, including 中芯国际 (SMIC), 海光信息 (Haiguang), and others, indicating strong growth potential in the domestic AI and computing landscape [5][6]. Core Insights - The domestic AI landscape is witnessing significant advancements with the emergence of models like 豆包 (Doubao) and DeepSeek, which are leading the charge in multi-modal and lightweight AI model development, respectively [1][2]. - The report highlights a shift towards domestic computing power solutions, with chip manufacturers rapidly adapting to the evolving AI ecosystem, particularly through advancements in semiconductor processes and AI training capabilities [2][3]. - There is a notable increase in capital expenditure among cloud computing firms, driven by the rising demand for AI computing infrastructure, which is expected to lead to a "volume and price rise" scenario in the cloud computing market [3][4]. Summary by Sections Section 1: Breakthroughs in Domestic AI Models - 豆包 has emerged as a leading multi-modal model, enhancing capabilities in speech, image, and code processing, with a significant release of its visual understanding model in December 2024 [1][11]. - DeepSeek focuses on lightweight model upgrades, achieving a remarkable cost-performance ratio with its DeepSeek-V3 model, which has 671 billion total parameters and costs only 557.6 million USD, positioning it among the world's top models [1][12]. - The rapid iteration of domestic models, including updates from 通义千问 and others, reflects a competitive landscape that is accelerating the development of AI applications [1][34]. Section 2: Advancements in Domestic Computing Power - 中芯国际 is advancing its semiconductor processes, with N+1 and N+2 technologies being developed to support the growing demand for AI chips, achieving significant performance improvements [2][56]. - The report notes that the domestic chip industry is evolving, with companies like 昇腾 (Ascend) and others making strides in AI training and inference capabilities, thereby reducing reliance on international competitors [2][59]. - The cloud computing sector is experiencing a capital expenditure boom, with companies like 华勤 and 浪潮 rapidly deploying servers that are compatible with domestic computing power solutions [3][4]. Section 3: Infrastructure and Supply Chain Developments - The report emphasizes the need for enhanced computing infrastructure to meet the surging demand for AI applications, with significant investments being made in server and power supply innovations [3][4]. - Innovations in power supply and cooling systems, particularly the shift from traditional air cooling to liquid cooling, are becoming essential to support the increasing power density in data centers [4]. - The report identifies key players in the supply chain, including companies in power supply, cooling, and server manufacturing, that are poised to benefit from the growth of the AI and computing sectors [5].