Core Insights - The report highlights the emerging opportunities in the low Earth orbit (LEO) satellite communication sector, particularly following the MWC 2025 event in Shanghai, which showcased advancements in ground infrastructure for satellite internet [5][6] - The report emphasizes the maturation of the NTN (Non-Terrestrial Network) industry chain and the expected acceleration in ground infrastructure development, driven by upcoming commercial trials of LEO satellite systems [5][6] Industry Commentary: Communication - The MWC 2025 event has spotlighted the LEO satellite internet, presenting at least three catalysts for investment opportunities in this sector [5] - The next-generation LEO constellation design is nearing maturity, with domestic projects like Qianfan, State Grid, Hongyan, and Tianqi starting to form, indicating a shift towards a mainstream NTN network architecture [5] - Major players in the 5G equipment sector, such as Huawei, ZTE, and FiberHome, are expected to benefit significantly from this transition, particularly in baseband, routing, and antenna technologies [5] - The report notes that the upcoming commercial trials of LEO satellite systems will likely lead to increased demand for ground infrastructure, including gateway station projects and related components [5][6] Investment Highlights - The AMD Helios cabinet design is set to compete with the Rubin NVL144 supernode cabinet, indicating a trend towards higher bandwidth and more efficient networking solutions [6] - The Mi400 Helios cabinet is expected to integrate 72 Mi400 GPUs, requiring extensive copper cabling and high-density connectors, which suggests a sustained demand for high-speed copper and optical modules in the coming years [6] Market Overview - The report provides a snapshot of the market performance, noting that the overall market saw mixed results, with the Shenwan Communication Index rising by 1.58% while major indices like the Shanghai Composite Index and Shenzhen Component Index experienced declines [8] - Specific sectors such as optical modules and optical cables saw significant weekly gains, indicating strong investor interest in these areas [8] Regulatory Developments: Non-Bank Financial Sector - The report discusses the introduction of the "1+6" policy measures for the Sci-Tech Innovation Board, aimed at optimizing the classification and evaluation of securities firms, which is expected to enhance the financial service ecosystem for technology innovation [9][10] - The new regulations are designed to support high-quality development and encourage differentiated operations among securities firms, fostering a competitive landscape [10]

Core Viewpoint - The article emphasizes that a company can become an industry leader by focusing on strong material and process foundations, continuous innovation, and understanding market trends [2][8]. Group 1: Company Development Strategy - The company has established itself as a leader in the electronic ceramics industry by adhering to a long-term strategy rather than being driven by short-term orders [2]. - The company has accumulated 124 patents, showcasing its commitment to innovation and technology [2]. - The company has invested over 20 million yuan in a single materials laboratory, utilizing top-tier equipment for material analysis and improvement [3]. Group 2: Material and Process Innovation - The company has developed over 170 high-performance materials through extensive research and experimentation over 30 years [3]. - The company has created a comprehensive electronic ceramics process system consisting of seven major processes, supported by nine core technologies [5]. - The company has pioneered advanced processes, such as a spray coating technique for blind hole metallization, addressing industry challenges [4]. Group 3: Research and Development Investment - The company plans to invest 39.56 million yuan in R&D for 2024, reflecting a 1.40% year-on-year increase, with Q1 2025 R&D investment reaching 9.01 million yuan, a 9.02% increase [6]. - The company has developed various self-researched material formulations for ceramic packaging and substrates, achieving mass production capabilities [6]. Group 4: Market Adaptation and Strategy - The company has strategically shifted focus from traditional piezoelectric ceramics to medium ceramics, anticipating market changes and ensuring cash flow during transitions [8][9]. - The company has recognized the trend towards smaller, lighter, and cost-effective medium filters in the communication market, leading to the development of next-generation filters starting in 2011 [9]. - The company is actively responding to market demands in sectors like new energy, semiconductors, and consumer electronics, aiming to produce high-performance, low-cost electronic ceramic products [10].

Core Viewpoint - Cangqin Technology (688182) has experienced a decline in stock price, closing at 27.42 yuan, down 2.07% from the previous week, with a total market capitalization of 10.968 billion yuan [1] Company Announcements - Cangqin Technology announced a cash dividend of 0.075 yuan per share, totaling 30 million yuan [1] - The dividend distribution plan was approved at the 2024 annual general meeting on April 28, 2025, with the record date set for June 19, 2025, and the payment date on June 20, 2025 [1] - For individual shareholders holding unrestricted shares for over one year, the dividend income is exempt from personal income tax; for those holding less than one year, the company will not withhold personal income tax [1] - The actual post-tax cash dividend for shareholders with restricted shares is 0.0675 yuan per share, while for other types of shareholders, the pre-tax cash dividend remains at 0.075 yuan per share [1]

Core Points - The company announced a cash dividend of 0.075 CNY per share, totaling 30 million CNY for all shareholders [1][5] - The profit distribution plan was approved at the annual shareholders' meeting on April 28, 2025 [1] - The dividend will be distributed based on the total share capital of 400 million shares [1] Distribution Details - The cash dividend will be distributed to shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the market closes on the registration date [1] - Shareholders who have completed designated transactions can receive their cash dividends on the payment date at their designated securities firms [1] - For shareholders who have not completed designated transactions, the dividends will be held by the China Securities Depository and Clearing Corporation Limited until the transactions are completed [1] Taxation Information - Individual shareholders holding shares for over one year will not be subject to personal income tax on the dividend [3] - For shares held for less than one year, the tax will be calculated upon the transfer of shares, with a maximum effective tax rate of 20% for shares held for one month or less [3][5] - Non-resident enterprises will be subject to a reduced corporate income tax rate of 10% on the dividends received [5][6] Additional Information - The company will handle the tax withholding for Qualified Foreign Institutional Investors (QFII) at a rate of 10% [5][6] - For Hong Kong investors holding shares through the "Shanghai-Hong Kong Stock Connect," the company will also withhold 10% tax on dividends [6] - The company encourages any shareholders seeking tax treaty benefits to apply to the relevant tax authorities [5][6]

证券代码：688182 证券简称：灿勤科技 公告编号：2025-018 江苏灿勤科技股份有限公司2024年年度权益分派实施公告 本公司董事会及全体董事保证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。 1. 发放年度：2024年年度 2. 分派对象： 三、 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/19 | 2025/6/20 | 2025/6/20 | 重要内容提示： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/19 | 2025/6/20 | 2025/6/20 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 4 月 28 日的2024年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的 ...

Core Viewpoint - The satellite ETF (159206) is experiencing significant activity, driven by the recent announcement from the FCC to expand satellite communication frequency spectrum, which is expected to enhance the satellite communication industry and stimulate competition [1][2][3]. Group 1: Market Activity - As of May 29, the satellite ETF (159206) rose by 1.52% in early trading, with key component stocks such as Xinyisheng increasing by over 5% [1]. - The top-performing stocks within the ETF include: - Xinyisheng: +5.85%, trading volume of 30.34 million, market cap of 26.72 billion - Hangyuwei: +4.44%, trading volume of 15.80 million, market cap of 1.96 billion - Zhongji Xuchuang: +4.20%, trading volume of 21.36 million, market cap of 20.35 billion - Xinyu Communication: +3.94%, trading volume of 12.19 million, market cap of 2.68 billion - Shanghai Huanxun: +3.54%, trading volume of 9.87 million, market cap of 2.09 billion [2]. Group 2: Industry Developments - The FCC plans to release over 20,000 MHz of frequency resources to support the development of low Earth orbit (LEO) satellites and next-generation satellite broadband services, addressing the spectrum shortage faced by the commercial space and satellite internet sectors [3]. - Recent advancements in ground communication technology have achieved a record communication speed of 2100 Mbps in the X-band, marking a 75% increase in microwave communication code rate [3]. - The satellite internet sector is rapidly evolving, with regular satellite launches increasing communication capacity and reducing latency, paving the way for applications like direct satellite connections for mobile broadband and intelligent driving systems [3]. Group 3: Future Outlook - The satellite communication industry is positioned as a foundational technology for the development of 6G, vehicle networking, and the Internet of Things (IoT) [3]. - The Chinese satellite industry is expected to enter a phase of mass satellite deployment by 2025, with both state-owned and private enterprises collaborating on low-cost satellite manufacturing [3].

Group 1 - The WiFi 6 concept sector experienced a decline of 1.35%, ranking among the top declines in concept sectors as of May 27 [1][2] - Major companies within the WiFi 6 sector, such as Broadcom Integrated, Cambridge Technology, and Tai Ling Microelectronics, saw significant declines in their stock prices [1][2] - Despite the overall decline, a few companies like Canqin Technology, Pingzhi Information, and Jiulian Technology recorded stock price increases of 1.17%, 0.85%, and 0.29% respectively [1][2] Group 2 - The WiFi 6 sector faced a net outflow of 490 million yuan in principal funds, with 41 stocks experiencing net outflows, and 19 stocks seeing outflows exceeding 10 million yuan [2] - Broadcom Integrated led the outflow with a net outflow of 63.34 million yuan, followed by Guanghetong, Unisplendour, and StarNet with outflows of 49.21 million yuan, 36.54 million yuan, and 30.23 million yuan respectively [2][3] - Conversely, stocks such as Pingzhi Information, Canqin Technology, and Gongjin Co. saw net inflows of 17.10 million yuan, 13.19 million yuan, and 4.07 million yuan respectively [3][4]

Group 1 - A total of 26 companies were investigated by institutions on May 26, with 20 companies specifically targeted by funds [1] - The most popular company among funds was Cankin Technology, which had 13 participating funds, followed by Greebo and Hars, each with 12 funds [1] - The companies investigated belong to various sectors, including electronics, machinery, basic chemicals, and pharmaceutical biology, with three stocks from each of these sectors being highlighted [1] Group 2 - Among the companies investigated, four had a total market capitalization exceeding 50 billion yuan, with BOE Technology Group being one of them, while ten companies had a market cap below 10 billion yuan [1] - In terms of market performance, eight stocks among the investigated companies saw an increase in the last five days, with Kailer Co., Zhongsheng Pharmaceutical, and Zhongchumei leading with increases of 21.62%, 7.52%, and 5.76% respectively [1] - Conversely, twelve stocks experienced declines, with Jiangnan Yifan, Tangyuan Electric, and Greebo showing the largest drops of 5.68%, 4.34%, and 3.89% respectively [1] Group 3 - The funds that participated in the investigations included significant net inflows, with Zhongsheng Pharmaceutical receiving a net inflow of 122 million yuan, the highest among the stocks [2] - Other companies with notable net inflows included Haida Group and Kailer Co., with net inflows of 36.68 million yuan and 11.77 million yuan respectively [2] - The table of companies investigated includes various details such as stock codes, latest closing prices, five-day price changes, and industry classifications [2][3]

证券代码：688182 证券简称：灿勤科技 公告编号：2025-017 江苏灿勤科技股份有限公司 第三届监事会第一次会议决议公告 公司第三届监事会成员已经 2024 年年度股东大会及公司职工代表大会选举 产生。根据《公司法》《公司章程》的规定，监事会选举顾立中先生为公司第三 届监事会主席，任期自第三届监事会第一次会议审议通过之日起至第三届监事会 任期届满之日止。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《江 苏灿勤科技股份有限公司关于选举董事长、监事会主席、董事会各专门委员会委 员及聘任高级管理人员、证券事务代表的公告》（公告编号：2025-016）。 特此公告。 江苏灿勤科技股份有限公司监事会 本公司监事会及全体监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、监事会会议召开情况 江苏灿勤科技股份有限公司第三届监事会第一次会议于 2025 年 4 月 28 日在 公司会议室召开。本次会议召开前，公司已召开 2024 年年度股东大会审议通过 了新一 ...