Core Viewpoint - Huang Daqing, a shareholder holding 7.96% of Huayi Technology (688071), plans to reduce his stake by up to 2.54 million shares, representing no more than 3% of the company's total share capital [1] Summary by Category Shareholder Actions - Huang Daqing intends to reduce his holdings through centralized bidding or block trading, with a maximum reduction of 2.54 million shares [1] - The planned reduction includes up to 847,700 shares through bidding, accounting for 1% of the total share capital [1] - Additionally, up to 1.70 million shares are to be reduced via block trading, representing 2% of the total share capital [1]

格隆汇10月14日丨华依科技（维权）(688071.SH)公布，股东黄大庆因自身资金需求，拟通过集中竞价 或大宗交易的方式减持公司股份合计不超过254.33万股，拟减持比例不超过公司总股本的3%。其中， 拟通过竞价交易方式减持不超过84.77万股，即不超过公司总股本的1%，减持期间为自本公告披露之日 起15个交易日后的3个月内，且在任意连续90个自然日内，减持公司股份的总数不超过公司总股本的 1%；拟通过大宗交易方式减持不超过169.56万股，即不超过公司总股本的2%，减持期间为自本公告披 露之日起15个交易日后的3个月内。 ...

华依科技公告，持股7.96%的股东黄大庆因自身资金需求，拟通过集中竞价和大宗交易合计减持不超过 254.33万股，占公司总股本3%，其中竞价交易不超过84.77万股，占1%，大宗交易不超过169.56万股， 占2%，减持期限为2025年11月5日至2026年2月4日，拟减持股份均为IPO前取得。 ...

Market Overview - The Shanghai Composite Index closed at 3865.23 points, with a decline of 0.62% [1] - The total trading volume of A-shares reached 25,965.85 billion yuan [1] Technical Analysis - A total of 114 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Hongxing Co., Ltd. with a distance of -2.60% [1] - Huayi Technology with a distance of -2.54% [1] - Top Group with a distance of -2.48% [1] Individual Stock Performance - Hongxing Co., Ltd. (001209) saw a decline of 2.11% with a trading turnover of 4.66% [1] - Huayi Technology (688071) experienced a drop of 6.84% with a trading turnover of 5.55% [1] - Top Group (601689) fell by 6.13% with a trading turnover of 2.80% [1] - Other notable declines include: - Green Harmonic (688017) down 7.05% [1] - Fangzheng Electric (002196) down 1.99% [1] - Zhongyou Technology (688648) down 5.32% [1] Additional Stock Movements - Several stocks showed minor declines, including: - ST Huayi (600360) down 0.49% [2] - Olin Biotech (688319) down 7.06% [2] - Qinchuan IoT (688528) down 1.43% [2] - Stocks with slight increases include: - Gujing (000596) up 2.81% [2]

Core Viewpoint - The A-share market is experiencing a decline, with the Shanghai Composite Index down by 0.47% and a total trading volume of 2,104.034 billion yuan as of 14:01 [1]. Group 1: Market Performance - The Shanghai Composite Index is at 3,871.31 points, reflecting a decrease of 0.47% [1]. - A total of 91 A-shares have seen their 5-day moving averages cross below their 10-day moving averages, indicating potential bearish trends [1]. Group 2: Notable Stocks - Hongxing Co. (001209) has a 5-day moving average of 18.33 yuan, down 1.39% today, with a distance of -2.53% from its 10-day moving average [1]. - Huayi Technology (688071) shows a significant drop of 5.62%, with its 5-day moving average at 40.79 yuan, which is -2.43% lower than its 10-day moving average [1]. - Top Group (601689) has decreased by 5.54%, with a 5-day moving average of 73.56 yuan, -2.42% from its 10-day moving average [1].

Market Overview - The Shanghai Composite Index closed at 3897.56 points, with a change of 0.21% [1] - The total trading volume of A-shares reached 1681.524 billion yuan [1] Technical Analysis - A total of 83 A-shares experienced a "death cross" where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Hongxing Co., Ltd. with a difference of -2.45% [1] - Huayi Technology with a difference of -2.30% [1] - Top Group with a difference of -2.27% [1] Individual Stock Performance - Hongxing Co., Ltd. (001209) saw a decrease of 0.61% with a latest price of 17.88 yuan, which is 5.01% below the 10-day moving average [1] - Huayi Technology (688071) decreased by 4.25%, with a latest price of 36.98 yuan, 11.65% below the 10-day moving average [1] - Top Group (601689) decreased by 3.89%, latest price at 66.49 yuan, 11.94% below the 10-day moving average [1] - Other notable declines include: - Green Harmonic (688017) down 5.05% [1] - Fangzheng Electric (002196) down 1.46% [1] - Anjie Technology (002635) down 1.99% [1] Additional Stock Movements - Stocks with minor declines include: - Dongwang (600052) down 1.52% [2] - Tian Sheng (300169) up 0.56% [2] - Guhua Gongjiu (000596) up 3.82% [2]

Market Overview - The specialized equipment sector declined by 0.43% on October 13, with Aomeisen leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Top Gainers in Specialized Equipment Sector - Lihexing (301013) saw a significant increase of 20.01%, closing at 37.90 with a trading volume of 848,000 shares and a transaction value of 3.061 billion [1] - Lingge Technology (920284) rose by 16.90%, closing at 46.01 with a trading volume of 130,000 shares and a transaction value of 561 million [1] - ST Xinyuan (300472) increased by 11.96%, closing at 6.46 with a trading volume of 376,200 shares and a transaction value of 234 million [1] Top Losers in Specialized Equipment Sector - Yunmeima (920080) experienced a decline of 8.11%, closing at 34.10 with a trading volume of 95,200 shares and a transaction value of 323 million [2] - Haoyang Co. (300833) fell by 7.94%, closing at 39.64 with a trading volume of 33,000 shares and a transaction value of 132 million [2] - Rutong Co. (603036) decreased by 6.78%, closing at 22.15 with a trading volume of 191,700 shares and a transaction value of 423 million [2] Capital Flow Analysis - The specialized equipment sector saw a net outflow of 1.135 billion from institutional investors and 170 million from retail investors, while retail investors had a net inflow of 1.305 billion [2] - Notable capital inflows included Beikang Technology (600980) with a net inflow of 99.84 million from institutional investors [3] - Zhengfan Technology (688596) had a net inflow of 64.25 million from institutional investors, while experiencing a net outflow of 113 million from retail investors [3]

Core Insights - The specialized equipment sector increased by 1.11% on September 29, with Lingge Technology leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Sector Performance - Lingge Technology (code: 833284) saw a significant rise of 14.39%, closing at 29.25 with a trading volume of 125,900 shares and a transaction value of 357 million yuan [1] - Tai Rui Machinery (code: 603289) increased by 6.23%, closing at 11.08 with a trading volume of 180,400 shares and a transaction value of 198 million yuan [1] - Yuejian Intelligent (code: 603095) rose by 5.65%, closing at 16.07 with a trading volume of 110,100 shares and a transaction value of 175 million yuan [1] - Li Hexing (code: 301013) increased by 5.56%, closing at 30.75 with a trading volume of 635,400 shares and a transaction value of 1.94 billion yuan [1] - Other notable performers include Zhongjian Technology (code: 002779) up 5.36%, Ruankong Co. (code: 002073) up 5.34%, and Yongchuang Intelligent (code: 603901) up 5.19% [1] Fund Flow Analysis - The specialized equipment sector experienced a net outflow of 68.17 million yuan from institutional funds, while retail investors contributed a net inflow of 302 million yuan [2] - The overall trend indicates a divergence in fund flow, with institutional investors withdrawing while retail investors increased their participation [2]

Core Viewpoint - Huayi Technology's stock increased by 5.23% on September 25, reaching a price of 43.47 CNY per share, with a total market capitalization of 3.686 billion CNY [1] Company Overview - Shanghai Huayi Technology Group Co., Ltd. was established on November 28, 1998, and went public on July 29, 2021. The company focuses on the development of intelligent testing technology for automotive powertrains, engaging in the research, design, manufacturing, sales, and related testing services of intelligent testing equipment [1] - The main revenue composition includes: 54.81% from new energy vehicle powertrain testing services, 35.55% from powertrain intelligent testing equipment, 9.31% from intelligent driving, and 0.32% from other services [1] Shareholder Information - Southern Fund's Southern Sci-Tech Innovation 3-Year Open Mixed Fund (506000) entered the top ten circulating shareholders of Huayi Technology in the second quarter, holding 2.53% of the circulating shares with 2.144 million shares [2] - The fund has achieved a return of 44.38% year-to-date, ranking 1574 out of 8173 in its category, and a return of 109.27% over the past year, ranking 383 out of 8003 [2] Fund Manager Profile - The fund manager of Southern Sci-Tech Innovation 3-Year Open Mixed Fund is Zheng Xiaoxi, who has been in the position for 6 years and 101 days. The fund's total asset size is 5.844 billion CNY, with the best return during his tenure being 143.5% and the worst being -33.69% [3] Fund Holdings - Southern Sci-Tech Innovation 3-Year Open Mixed Fund holds 2.144 million shares of Huayi Technology, representing 4.43% of the fund's net value, making it the tenth largest holding [4]

Summary of Conference Call on Intelligent Connected Vehicles Industry Overview - The conference call discusses the intelligent connected vehicle industry, specifically focusing on the new safety requirements for combination driving assistance systems released by the Ministry of Industry and Information Technology (MIIT) in China [1][2][3]. Key Points and Arguments - **New Regulations**: The MIIT has issued a draft for public consultation regarding safety requirements for L1 to L2++ level vehicles, aimed at standardizing market practices and enhancing consumer confidence [1][3]. - **Market Penetration**: As of the first seven months of the year, the penetration rate of new cars equipped with driving assistance features has reached 65%, with L2 level vehicles estimated at 45% to 50% [1][5]. - **Impact on Testing Industry**: The new regulations are expected to significantly increase the demand for vehicle testing, with an estimated annual market growth of approximately 2 billion yuan for passenger vehicle testing alone. The commercial vehicle testing demand may be even larger, potentially exceeding several billion yuan [1][6]. - **Testing Requirements**: New testing methods will need to accommodate various product forms, including single-lane, multi-lane, and navigation assistance systems. Testing will involve field tests (46 typical scenarios), road tests (minimum of 72 hours), and document verification, raising the bar for testing technology and service capabilities [1][7][8]. - **Market Recommendations**: The call recommends key players in the testing industry, such as China Automotive Research (中国汽研) and Huayi Technology, as well as component manufacturers like Sutech, Nexperia, Bertel, and others, who are expected to benefit from the new regulations [2][3]. Additional Important Content - **Risks and Challenges**: Attention is drawn to potential risks, including a downturn in the domestic passenger vehicle market and slower-than-expected technological advancements, which could impact the effectiveness of the new regulations and the performance of related companies [3][9]. - **Consumer Confidence**: The introduction of these regulations is deemed crucial for improving consumer confidence in the market, particularly in light of existing confusion surrounding L2.5 and L2.9 classifications due to regulatory gaps [5][9]. This summary encapsulates the essential insights from the conference call regarding the intelligent connected vehicle industry and the implications of the new safety requirements.