Core Points - The company, Delong Laser (688170.SH), announced a significant shareholding change involving its controlling shareholder, Zhao Yuxing [1] - Zhao Yuxing reduced his shareholding by a total of 1,373,600 shares, which represents a decrease of 1.33% of the company's total equity [1] - Following this transaction, Zhao Yuxing's total shareholding decreased from 23,745,000 shares to 22,371,400 shares, reducing his ownership percentage from 22.97% to 21.64% [1] Summary by Category Shareholding Changes - Zhao Yuxing sold 340,000 shares through centralized bidding, accounting for 0.33% of the total share capital [1] - Additionally, he sold 1,033,600 shares via block trading, representing 1.00% of the total share capital [1] Ownership Structure - Post-transaction, Zhao Yuxing's shareholding is now 22,371,400 shares, reflecting a significant reduction in his control over the company [1] - The change in ownership percentage indicates a shift in the company's governance dynamics, with Zhao Yuxing's stake falling below the 22% threshold [1]

证券代码：688170 证券简称：德龙激光 公告编号：2025-042 关于控股股东权益变动触及 1%刻度的提示性公告 投资者及其一致行动人的身份 控股股东/实际控制人及其一致行动人 □其他 5%以上大股东及其一致行动人 □合并口径第一大股东及其一致行动人（仅适 用于无控股股东、实际控制人） □其他______________（请注明） 2.信息披露义务人信息 苏州德龙激光股份有限公司 公司控股股东、实际控制人、董事长兼总经理赵裕兴保证向本公司提供的 信息真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一 致。 重要内容提示： 权益变动方向 比例增加□ 比例减少 权益变动前合计比例 22.97% 权益变动后合计比例 21.64% 本次变动是否违反已作出的承 诺、意向、计划 是□ 否 是否触发强制要约收购义务 是□ 否 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | 赵裕兴 |  □ | 控股股东/实控人 控股股东/实控人的一致行动人 | □ | | --- | --- | --- | --- | | 信息披露义务人名称 | ...

Core Viewpoint - Delong Laser experienced significant block trading on December 1, with a total transaction volume of 1.1811 million shares and a transaction value of 34.2519 million yuan, reflecting a discount of 12.68% compared to the closing price of the day [2] Trading Activity Summary - On December 1, three block trades were executed for Delong Laser, with each transaction priced at 29.00 yuan, which is 12.68% lower than the closing price of 33.21 yuan [2] - Over the past three months, the stock has seen a total of four block trades, accumulating a transaction value of 37.0008 million yuan [2] Market Performance Summary - The closing price of Delong Laser on the day was 33.21 yuan, down by 1.01%, with a daily turnover rate of 2.78% and a total transaction amount of 96.1977 million yuan [2] - The net inflow of main funds for the day was 1.0818 million yuan, while the stock has seen a cumulative increase of 1.50% over the past five days, with a total net outflow of 6.2182 million yuan [2] Margin Trading Summary - The latest margin financing balance for Delong Laser is 112 million yuan, which has decreased by 17.979 million yuan over the past five days, representing a decline of 13.79% [2] Company Background - Suzhou Delong Laser Co., Ltd. was established on April 4, 2005, with a registered capital of 103.36 million yuan [2]

Core Insights - A total of 15 stocks on the Sci-Tech Innovation Board experienced block trading on December 1, with a cumulative transaction amount of 360 million yuan [1][2]. Group 1: Trading Overview - There were 41 block trades executed, with a total trading volume of 10.18 million shares [1]. - The stock with the highest transaction amount was Guobo Electronics, which had 6 block trades totaling 7.306 million yuan [1]. - Other notable stocks in terms of transaction amounts included Haitai New Light and Lianyun Technology, with 4.872 million yuan and 3.81983 million yuan respectively [1]. Group 2: Price and Discount Analysis - All stocks involved in block trading were sold at a discount, with the highest discount rates observed in Sanyou Medical, Delong Laser, and Puyuan Information, at 16.46%, 12.68%, and 11.99% respectively [1][2]. - The average decline for stocks that underwent block trading was 0.46%, while the Sci-Tech 50 Index rose by 0.72% [1]. Group 3: Institutional Participation - Institutional transactions accounted for 18 trades involving 5 stocks, with Guobo Electronics leading in institutional buy amounts at 68.9976 million yuan [2]. - The stocks with the highest net inflow of funds included Hush Silicon Industry, Aerospace Software, and Haitai New Light, with net inflows of 20.4385 million yuan, 18.4593 million yuan, and 2.7452 million yuan respectively [2]. Group 4: Detailed Trading Data - A detailed table of block trading data includes various stocks, their transaction counts, volumes, average transaction prices, discount rates relative to closing prices, and total transaction amounts [3].

Group 1: Core Insights - The report emphasizes that the AI wave is initiating a new cycle in intelligent manufacturing, shifting the investment focus from cyclical fluctuations to "new hard-core" assets that can define the future and support the AI trend [8][9]. - Human-shaped robots are highlighted as the ultimate embodiment of AI intelligence, expected to revolutionize labor liberation and serve as a universal platform for AI interaction with the physical world [9][10]. - The report identifies solid-state batteries as a key technology that will unlock performance ceilings for human-shaped robots and electric vehicles due to their high energy density and safety [9][10]. Group 2: Human-Shaped Robots - The human-shaped robot industry is transitioning from concept validation to commercialization, with companies that have developed product capabilities in key components likely to experience significant valuation increases [13][17]. - The investment strategy focuses on essential hardware components rather than single manufacturers due to the uncertainty in design solutions, creating unique investment opportunities [25][28]. - Key companies to watch in this sector include Xinjie Electric, Huichuan Technology, and Weichuang Electric, which are positioned to benefit from the growth in human-shaped robots [17][30]. Group 3: AI Equipment and Materials - The demand for AI-related infrastructure is surging, leading to significant growth in high-performance servers, GPUs, and advanced PCB requirements [32][36]. - The PCB specialized equipment market is expected to grow from $3.306 billion in 2020 to $4.111 billion in 2024, with a CAGR of 5.60% in China [32][34]. - Key players in the equipment sector include Dazhu CNC and Chip Quik, which are well-positioned to capitalize on the increasing demand for advanced PCB manufacturing [36][40]. Group 4: Solid-State Batteries - The solid-state battery industry is accelerating towards commercialization, with major manufacturers like CATL and Zhongxin Innovation targeting 2027 for small-scale production [9][10]. - The global solid-state battery equipment market is projected to reach ¥107.94 billion by 2030, indicating a significant capital expenditure cycle ahead [9][10]. - Companies such as Lead Intelligent and Hai Moxing are recommended for their potential to benefit from this new capital expenditure cycle [9][10]. Group 5: Controlled Nuclear Fusion - Controlled nuclear fusion is transitioning from experimental phases to industrialization, with significant advancements in research and increased capital investment driving the industry forward [9][10]. - The report suggests focusing on companies involved in nuclear fusion projects, such as Hangyang Co. and Shanghai Electric, which are positioned to gain from this emerging sector [9][10]. - The demand for energy solutions is expected to grow, making nuclear fusion a critical area for investment as it promises to provide sustainable energy sources [9][10]. Group 6: Engineering Machinery - The domestic engineering machinery market is recovering, with excavator sales showing a positive trend, while overseas demand is also increasing due to factors like housing construction and manufacturing sector recovery [6][9]. - Major projects in China, such as the Yaxi Water Conservancy Project and the Xinjiang-Tibet Railway, are expected to boost domestic machinery demand [6][9]. - Key companies in this sector include Sany Heavy Industry, XCMG, and Zoomlion, which are anticipated to benefit from both domestic recovery and international expansion [6][9].

| 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | 类出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-12-01 | 德龙渣光 | 688170 | 29 | 2997.44 | 103.36 | 2017-02-02 | 草原蛋糕浴浴浴 | Ka | | 2025-12-01 | 德龙激光 | 688170 | 29 | 224.75 | 7.75 | ្រី | 查擴建部系需劈毀 | 图 | | 2025-12-01 | 德龙激光 | 688170 | 29 | 203 | | 출장부산출장샵 | 中廣迭詞原霜劈毀 | KO | 12月1日，德龙激光大宗交易成交118.11万股，成交额3425.19万元，占当日总成交额的26.26%，成交价 29元，较市场收盘价33.21元折价12.68%。 ...

第2笔成交价格为29.00元，成交7.75万股，成交金额224.75万元，溢价率为-12.68%，买方营业部为信达 证券股份有限公司温州瓯江路证券营业部，卖方营业部为中信建投证券股份有限公司苏州分公司。 第3笔成交价格为29.00元，成交7.00万股，成交金额203.00万元，溢价率为-12.68%，买方营业部为信达 证券股份有限公司温州瓯江路证券营业部，卖方营业部为中信建投证券股份有限公司苏州分公司。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月1日，德龙激光收跌1.01%，收盘价为33.21元，发生3笔大宗交易，合计成交量118.11万股，成交金 额3425.19万元。 第1笔成交价格为29.00元，成交103.36万股，成交金额2,997.44万元，溢价率为-12.68%，买方营业部为 东吴证券股份有限公司苏州工业园区扬富路证券营业部，卖方营业部为中信建投证券股份有限公司苏州 分公司。 进一步统计，近3个月内该股累计发生3笔大宗交易，合计成交金额为3425.19万元。该股近5个交易日累 计上涨1.50%，主力资金合计净流出1263.8万元。 责任编辑：小浪快报 ...

Group 1 - The solid-state battery industry is gaining significant investor interest, with companies in the supply chain from battery manufacturing to upstream materials and equipment suppliers actively engaging with investors during Q3 earnings calls [1] - Semi-solid batteries are already in market application, while all-solid-state batteries are expected to enter a critical pilot testing phase between 2026 and 2027 [2][4] - Companies like Guoxuan High-Tech and Zhuhai Guanyu have reported advancements in semi-solid battery production, with Guoxuan's G-Yuan semi-solid battery nearing mass production and Zhuhai Guanyu starting to ship semi-solid batteries [2][3] Group 2 - The foundation for solid-state battery commercialization lies in innovations in battery materials, with companies currently in the sample submission phase and some achieving small batch shipments [4] - Key materials such as high-nickel and lithium-rich manganese-based cathodes are becoming mainstream to meet the higher energy density requirements of solid-state batteries [4] - Companies like Better Ray and New Zobang have reported small batch applications of solid electrolytes in semi-solid batteries, while companies like Greeenmei have achieved ton-level shipments of solid-state battery materials [4] Group 3 - Equipment manufacturers are seizing opportunities in the solid-state battery sector, with significant differences in production processes compared to traditional liquid batteries [7] - Companies like Lianying Laser and Delong Laser are already producing equipment for semi-solid and all-solid-state batteries, with expectations of increased orders in the coming year [7][8] - Overall, the solid-state battery industry is transitioning into a phase where semi-solid batteries are being applied, and all-solid-state batteries are moving towards pilot testing, with material and equipment companies accelerating their engagement with downstream partners [8]

Group 1: Market Trends and Developments - The solid-state battery industry is experiencing significant interest from investors, with companies in the battery manufacturing, upstream materials, and equipment sectors actively engaging in discussions about technological advancements and industry trends [2] - Semi-solid batteries have begun market applications, while all-solid-state batteries are entering a critical testing phase expected between 2026 and 2027 [3] - Companies like Guoxuan High-Tech and Zhuhai Guanyu have reported that their semi-solid batteries are in mass production and gaining customer recognition, indicating that these products are no longer just concepts but are entering the market [3] Group 2: Material Innovations and Production - The foundation of solid-state battery commercialization lies in innovations in battery materials, with companies currently in the sample submission phase and some achieving small-scale shipments [5] - Companies such as Better Ray and New Zobang have reported small-scale applications of solid electrolytes in semi-solid batteries, while high-nickel and lithium-rich manganese-based materials are becoming mainstream for solid-state batteries [5] - The performance of high-nickel materials in solid-state batteries is approaching that of liquid batteries, with energy densities exceeding 400 Wh/kg, significantly surpassing current liquid battery levels [5] Group 3: Equipment and Supply Chain Opportunities - Equipment manufacturers are seizing opportunities in the solid-state battery sector due to the distinct production processes compared to traditional liquid batteries [7] - Companies like Lianying Laser and Delong Laser are already producing equipment for semi-solid and all-solid-state batteries, with expectations of increased orders in the coming years [7] - Dayun Technology is also focusing on solid-state battery testing equipment, indicating a growing market for detection solutions in the solid-state battery industry [8] Group 4: Future Outlook - The solid-state battery industry is currently in a phase where semi-solid batteries are being applied, and all-solid-state batteries are moving into testing, with significant advancements expected by 2026 to 2027 [8] - Material and equipment companies are accelerating their engagement with downstream manufacturers to position themselves for future growth opportunities in the solid-state battery market [8]

Core Viewpoint - Delong Laser has shown a significant increase in stock price this year, but recent trading indicates a decline in the short term, suggesting potential volatility in the market [1][2]. Financial Performance - As of September 30, 2025, Delong Laser achieved a revenue of 451 million yuan, representing a year-on-year growth of 8.45%. However, the net profit attributable to shareholders was -16.86 million yuan, reflecting a 21% increase in losses compared to the previous year [2]. - The company has distributed a total of 124 million yuan in dividends since its A-share listing, with 72.25 million yuan distributed over the last three years [3]. Stock Market Activity - On November 25, 2023, Delong Laser's stock price rose by 2.02% to 33.38 yuan per share, with a trading volume of 23.97 million yuan and a turnover rate of 0.70%. The total market capitalization reached 3.45 billion yuan [1]. - The stock has increased by 48.42% year-to-date, but has experienced a decline of 9.34% over the last five trading days, 1.21% over the last 20 days, and 10.12% over the last 60 days [1]. Shareholder Information - As of September 30, 2025, the number of shareholders for Delong Laser was 6,754, an increase of 6.58% from the previous period. The average number of circulating shares per person decreased by 6.17% to 15,303 shares [2]. - New institutional shareholders include Yongying Technology Driven A, holding 1.94 million shares, and other funds such as Zhongou Yueshang Life Mixed A and ICBC Yuanxing Mixed, which are also new entrants among the top ten circulating shareholders [3].