Core Viewpoint - Dingyang Technology's subsidiary failed to win the auction for the 8,000 square meter factory area in Bao'an District, Shenzhen, which was ultimately won by a local company for 544 million yuan, reflecting a significant premium over the starting price [1][7]. Group 1: Auction Details - The auction involved 11 properties of the Fullda factory located in Shenzhen's Bao'an District, with a starting price of 268 million yuan and an assessed value of 383 million yuan [3]. - The auction process included 110 rounds of bidding and 89 extensions, concluding with a final sale price of 544 million yuan, which is approximately 102.69% above the starting price [1][7]. - The winning bidder was Shenzhen Tangwei Cooperative Company, established in 1986, primarily engaged in wholesale activities [7]. Group 2: Property Characteristics - The Fullda factory site covers approximately 55,800 square meters with a total building area of 83,700 square meters, including multiple office buildings, dormitories, and a cafeteria [3]. - Currently, the factory is not used for industrial production but is leased to Shenzhen Meisheng Yungu Incubation Management Co., which has transformed it into a technology incubation base and hotel [7]. Group 3: Company Background - Dingyang Technology specializes in the research, development, production, and sales of general electronic testing and measurement instruments, including digital oscilloscopes and signal generators [7]. - As of June 2025, the company reported a balance of 14.67 million yuan in its "operating lease property renovation and transformation" category [7].

Core Viewpoint - The auction for the Fuda factory area in Shenzhen attracted significant interest, ultimately being won by a local village enterprise at a high premium over the starting price, highlighting the competitive real estate market in the region [1][2]. Group 1: Auction Details - Dingyang Technology (688112) attempted to participate in the judicial auction of the Fuda factory area, which includes 11 properties with a starting price of 268 million yuan and an assessed value of 383 million yuan [1]. - The auction saw participation from 21 bidders, with a total of 888 reminders set and 59,300 views, culminating in 110 bids and 89 extensions, resulting in a final sale price of 544 million yuan, representing a premium of approximately 102.69% over the starting price [1]. Group 2: Winning Bidder Information - The winning bidder is Shenzhen Tangwei Cooperative Company, established in September 1986, with a registered capital of 10.18 million yuan [2]. - The company has a unique ownership structure, with 70% of shares held by cooperative shareholders and 30% by collective shareholders, indicating its status as a village collective enterprise [4]. Group 3: Location and Asset Details - The Fuda factory area is strategically located in the core of the Guangdong-Hong Kong-Macao Greater Bay Area, with convenient transportation links, including proximity to the airport and the entrance to the Shenzhen-Zhongshan Channel [5]. - The asset is currently leased by Shenzhen Meisheng Yungu Incubation Management Co., with a lease term from March 1, 2021, to August 31, 2036, at a monthly rent of 3.3336 million yuan [5]. Group 4: Company Background - Dingyang Technology specializes in the research, development, production, and sales of general electronic testing and measurement instruments, indicating its focus on technology and innovation [6]. - As of the end of the first half of 2025, the company reported a balance of 14.6741 million yuan in its "operating lease property renovation and modification" account, reflecting its investment in property [6].

3、该事项不涉及关联交易，亦不构成《上市公司重大资产重组管理办法》 等规定的重大资产重组情况。 证券代码：688112 证券简称：鼎阳科技 公告编号：2025-056 深圳市鼎阳科技股份有限公司 关于子公司参与拍卖房产的公告 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。 一、情况概述 1、深圳市鼎阳科技股份有限公司（以下简称"公司"）下属子公司于 2025 年 12 月 25 日至 26 日参与深圳市中级人民法院关于深圳市宝安区福永街道重庆 路富尔达厂区合计 11 处房产的司法拍卖。 2、本事项已经公司第三届董事会第五次会议审议通过，因该司法竞拍事项 存在不确定性，属于临时性商业秘密，披露后可能影响公司竞拍结果，根据《上 市公司信息披露暂缓与豁免管理规定》及《深圳市鼎阳科技股份有限公司章程》 《深圳市鼎阳科技股份有限公司信息披露暂缓与豁免管理制度》的有关规定，公 司在履行董事会审批程序后暂缓披露上述决议事项，待司法竞拍完成后再履行信 息披露义务。此外，公司已按照有关规定履行上述暂缓披露事项内部审批程序并 对内幕信息知情人进行 ...

Summary of Dingyang Technology Conference Call Company Overview - **Company**: Dingyang Technology - **Industry**: Electronic Testing and Measurement Instruments Key Points R&D Investment and Product Development - Dingyang Technology's R&D investment has increased from over 20 million yuan in 2020 to 107 million yuan in 2024, accounting for nearly 20% of revenue [2][3][4] - The company has launched innovative products that break overseas monopolies, including handheld oscilloscopes and 12-bit high-end oscilloscopes [2][4] - A total of 15 new products were released in 2025, including a 20G oscilloscope, raising the bandwidth level of digital oscilloscopes [5] Market Dynamics and Industry Growth - The electronic testing and measurement instruments industry is rapidly developing due to cable replacement policies and increasing market demand [2][6] - Dingyang Technology has achieved breakthroughs in high-end digital oscilloscopes and RF products, with significant orders received prior to product launches [2][7] Sales Strategy and Market Focus - The sales strategy has shifted from a regional focus to a customer and key industry focus, with direct sales revenue increasing to nearly 15% [2][10][11] - The domestic market's revenue share has risen to nearly half, driven by policy support and demand from large customers [2][13] Financial Performance - From 2017 to 2024, the company's revenue compound annual growth rate (CAGR) is 22.2%, and the net profit CAGR is 30.26% [3] - Gross margin has increased from 48.5% in 2017 to 63.09% by Q3 2025, with expectations to stabilize around 60% [3][15] Supply Chain and Production - The establishment of a production base in Malaysia aims to address tariff issues and support global market expansion, with operations expected to be fully functional by mid-2025 [4][16][17] - The domestic supply chain, including key chip companies, is capable of meeting current and future high-end demands [9] Future Plans and Industry Focus - Dingyang Technology plans to launch microwave products in 2026 and expand into new product categories [8] - The company aims to focus on specific industries, such as AI and optical chips, which are expected to drive demand for its products [21] Competitive Landscape - International competitors like Tektronix and Rohde & Schwarz are facing challenges in the domestic market, with some downsizing and optimizing operations [19] - Dingyang Technology's pricing strategy for high-end products is approximately 70% of international competitors' prices [20] Policy Environment - Domestic policies continue to encourage domestic substitution, leading to sustained demand for local brands [23] - The trend of increasing acceptance of domestic products is expected to enhance the market for mid-to-high-end products [23] Product Line Strategy - While low-end products are growing, their proportion is decreasing as the company focuses on high-end products [24] - Dingyang Technology is exploring mergers and acquisitions in related fields to enhance its product offerings [22] This summary encapsulates the key insights from Dingyang Technology's conference call, highlighting its strategic direction, market performance, and future outlook.

根据中国证券监督管理委员会于 2021 年 9 月 22 日出具的《关于同意深圳市 鼎阳科技股份有限公司首次公开发行股票注册的批复》（证监许可〔2021〕3099 号），公司首次公开发行人民币普通股（A）股 2,666.67 万股，每股发行价格为 46.60 元，募集资金总额为人民币 124,266.82 万元；扣除发行费用后实际募集资 金净额为人民币 115,071.72 万元。上述募集资金已于 2021 年 11 月 26 日全部到 账，经致同会计师事务所（特殊普通合伙）审验，于 2021 年 11 月 26 日出具了 《验资报告》（致同验字(2021)第 441C000799 号）。公司对募集资金采取了专户 存储管理并与保荐机构国信证券股份有限公司、存放募集资金的开户银行签订了 募集资金监管协议及相应补充协议。 二、募集资金专户存放及管理情况 为规范募集资金的管理和使用，保护投资者权益，公司依照《中华人民共和 国公司法》《中华人民共和国证券法》《上海证券交易所科创板股票上市规则》及 《上市公司监管指引第 2 号—上市公司募集资金管理和使用的监管要求》以及公 司《募集资金使用管理制度》的规定和要求，对募集 ...

Group 1 - The core point of the news is that Dingyang Technology has seen a continuous increase in its stock price, rising 0.96% to 37.73 yuan per share, with a total market value of 6.022 billion yuan and a cumulative increase of 6.49% over six days [1] - Dingyang Technology, established on June 13, 2007, and listed on December 1, 2021, specializes in the research, production, and sales of general electronic testing and measurement instruments, with main business revenue composition: 80.79% from four main products, 17.55% from other products, and 1.67% from supplementary sources [1] - The stock has a trading volume of 43.8711 million yuan and a turnover rate of 0.73% [1] Group 2 - From the perspective of fund holdings, one fund under Taixin Fund has a significant position in Dingyang Technology, with Taixin Smart Growth Flexible Allocation Mixed A (003333) holding 23,800 shares, accounting for 3.21% of the fund's net value [2] - The fund has reduced its holdings by 4,000 shares in the third quarter, and the estimated floating profit today is approximately 8,574.12 yuan, with a total floating profit of 54,800 yuan during the six-day price increase [2] - Taixin Smart Growth Flexible Allocation Mixed A (003333) was established on December 21, 2016, with a current scale of 26.6538 million yuan, and has a year-to-date return of 5.74% [2]

Core Viewpoint - Dingyang Technology's stock has shown a positive trend with a 2.16% increase on December 23, 2023, and significant trading activity in both margin financing and securities lending [1]. Financing Summary - On December 23, 2023, Dingyang Technology had a financing buy-in amount of 20.12 million yuan and a financing repayment of 12.15 million yuan, resulting in a net financing buy of 7.97 million yuan. The total margin financing and securities lending balance reached 198 million yuan, accounting for 3.32% of the circulating market value, which is above the 90th percentile level over the past year [1]. - The current financing balance of 198 million yuan is at a high level, exceeding the 90th percentile of the past year [1]. Securities Lending Summary - On December 23, 2023, Dingyang Technology repaid 400 shares in securities lending with no shares sold, resulting in a selling amount of 0.00 yuan. The remaining securities lending volume was 4,103 shares, with a balance of 153,300 yuan, also exceeding the 90th percentile level over the past year [1]. Company Overview - Dingyang Technology, established on June 13, 2007, and listed on December 1, 2021, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of general electronic testing and measurement instruments. The main business revenue composition includes four major products accounting for 80.79%, other products at 17.55%, and supplementary items at 1.67% [1]. Financial Performance - As of September 30, 2023, Dingyang Technology reported a total of 7,271 shareholders, an increase of 39.69% from the previous period. The average circulating shares per person decreased by 28.41% to 21,895 shares. For the period from January to September 2023, the company achieved an operating income of 431 million yuan, representing a year-on-year growth of 21.67%, and a net profit attributable to the parent company of 111 million yuan, with a year-on-year increase of 21.49% [2]. Dividend Information - Since its A-share listing, Dingyang Technology has distributed a total of 362 million yuan in dividends, with 312 million yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2023, among the top ten circulating shareholders of Dingyang Technology, Hong Kong Central Clearing Limited ranked as the seventh largest shareholder with 2.1016 million shares, an increase of 454,100 shares compared to the previous period. Notably, several funds, including E Fund Active Growth Mixed and China Europe Information Technology Mixed Fund, have exited the top ten circulating shareholders list [3].

Group 1 - Xusheng Group's actual controller has changed to the Guangzhou Municipal Government, with stock resuming trading on December 23, 2025 [1] - Lingyun Light plans to invest up to $5 million in the IPO of Zhipu Hong Kong as a cornerstone investor [1] - Ningbo Huaxiang's subsidiary has signed a strategic cooperation agreement with Dahuan Robotics to enhance collaboration in the development of dexterous hands [2] Group 2 - Hualian Holdings intends to acquire 100% of the Canadian company Argentum Lithium S.A. for $175 million, which is approximately 1.235 billion yuan [3] - Shiyuan Zhaoye plans to raise no more than 550 million yuan through a convertible bond issuance for the Zhuhai Shiyuan Jingguan Garden project [4] - ST Quanwei and its subsidiary are involved in a civil mediation agreement involving 69.0158 million yuan [4] Group 3 - Jiao Jian Co.'s actual controller has been subjected to criminal coercive measures, but the company's control has not changed [5] - Tianji Technology is facing a lawsuit for alleged collusion in bidding, but its operations remain normal [5] - Jinpan Technology plans to issue 1.672 billion yuan in convertible bonds for data center power modules and other projects [5] Group 4 - Hongqi Chain's shareholder Yonghui Supermarket plans to reduce its stake by up to 3% [6] - Shuangqiang Technology's director did not implement a planned share reduction [7] - Zhuoran Co.'s subsidiary has signed a significant order worth 4.033 billion yuan [8] Group 5 - ST Zhitong's stock will have its risk warning lifted on December 24, 2025, with a change in trading limits [9] - Yingwei Co. plans to reduce its stake by up to 0.56% [10] - Huaxia Happiness's board rejected five temporary proposals from China Ping An Life Insurance [11] Group 6 - China Nonferrous Metals plans to acquire 99.9% of Raura Company for $106 million [11] - Sanhua Intelligent Control expects a net profit of 3.874 billion to 4.649 billion yuan for 2025, a year-on-year increase of 25% to 50% [11] - Chaoxun Communication received a government subsidy of 18.0455 million yuan [12] Group 7 - Jiangfeng Electronics plans to transfer 4% of Shanghai Runping's equity for 60 million yuan [12] - Dingyang Technology has launched a 20 GHz high-bandwidth digital oscilloscope [13] - Linyi Intelligent plans to acquire 35% of Dongguan Liminda Electronics for 875 million yuan [14] Group 8 - Trina Solar has sold its U.S. 5GW module factory to T1, receiving $100 million in cash and shares [14] - Aihua Packaging's major shareholder reduced its stake by 700,000 shares during the stock's abnormal fluctuation period [14] - China Merchants Bank has approved a comprehensive credit limit of 165 billion yuan for China Merchants Group [15] Group 9 - Lingwei Technology plans to acquire 70% of Jiangsu Huimai for 50.2 million yuan [16] - Yongding Co. is increasing its capital by 600 million yuan for its polysilicon subsidiary [19] - Zhong'an Technology's subsidiary is voluntarily extending its share lock-up period by six months [19] Group 10 - Xiangyu Medical's brain-computer interface products have entered over 500 top-tier hospitals, with a target of 700 by the Spring Festival [18] - Wenda Technology's major shareholder has terminated its share reduction plan [18] - Wenta Technology's major shareholder reduced its stake by 1.2097 million shares [18]

Group 1 - Linyi Intelligent Manufacturing plans to acquire 35% equity of Limin Technology for 875 million yuan, gaining control with a total voting power of 52.78% [4] - Sanhua Intelligent Control expects a net profit growth of 25.00% to 50.00% in 2025, driven by its leading position in the HVAC components market and expansion in the automotive parts sector [14] - China General Nuclear Power has commenced full construction of the Lufeng Unit 2, with a capacity of 1245 MW, marking a significant step in its nuclear power development [11] Group 2 - Yipin Pharmaceutical's controlling shareholder plans to transfer 9.07% equity of Arthrosi to the company to support its development in gout treatment [2] - Changfei Fiber indicates that the demand for optical fiber and cable products remains under pressure despite some market improvements [2] - Aolian Electronics is planning a change in control, leading to a temporary suspension of its stock trading [3][19] Group 3 - ChaoSheng Electronics intends to invest 1.008 billion yuan in upgrading its high-performance HDI printed circuit board production capacity [6] - Nanya New Materials plans to raise up to 900 million yuan for the development of advanced high-frequency copper-clad laminates [10] - Hualian Holdings aims to acquire 100% of Argentum Lithium S.A. for approximately 1.75 billion USD to enter the lithium extraction business [12][13]

Core Viewpoint - Dingyang Technology (688112.SH) has officially launched the 20GHz high-bandwidth digital oscilloscope SDS8204A on December 22, 2025, showcasing the company's commitment to high-end product development and technological innovation [1] Group 1: Product Features - The SDS8204A features a simulated bandwidth of up to 20GHz and a real-time sampling rate of 50GSa/s per channel [1] - It offers a maximum storage depth of 2.5Gpts per channel and a waveform capture rate of up to 500,000 wfm/s [1] - The oscilloscope has an ultra-low background noise of 270μVrms and an 8-bit vertical resolution, along with various consistency analysis functions such as MIPI, DDR, PCIe, and Ethernet [1] Group 2: Market Impact - The launch of the SDS8204A is a result of the company's high-end development strategy, reflecting its technological innovation, market adaptability, and product development capabilities [1] - This new product enriches the company's high-end product matrix and expands the application scenarios and usage range of its products [1] - The introduction of the SDS8204A is expected to strengthen and enhance the company's overall competitiveness, positively impacting its future development [1]