Core Insights - The main point of the news is the significant outflow of capital from the Shanghai and Shenzhen stock markets, totaling 114.82 billion yuan, with a notable outflow from the Sci-Tech Innovation Board [1] Group 1: Market Overview - The total net outflow of capital from the Shanghai and Shenzhen markets reached 114.82 billion yuan, with the Sci-Tech Innovation Board experiencing a net outflow of 12.60 billion yuan [1] - A total of 128 stocks on the Sci-Tech Innovation Board saw net inflows, while 459 stocks experienced net outflows [1] - Among the stocks with net inflows, 3 stocks had inflows exceeding 100 million yuan, with Tengjing Technology leading at 210 million yuan [1] Group 2: Stock Performance - On the Sci-Tech Innovation Board, 38 stocks increased in value, while 550 stocks decreased [1] - The stock with the highest net outflow was SMIC, which saw a decline of 4.18% and a net outflow of 1.43 billion yuan [1] - Other notable stocks with significant net outflows included Lanke Technology and Zhongwei Company, with outflows of 667 million yuan and 507 million yuan, respectively [1] Group 3: Continuous Capital Flow - There are 40 stocks that have seen continuous net inflows for more than 3 trading days, with Hanwujing leading at 37 consecutive days of inflow [2] - Conversely, 177 stocks have experienced continuous net outflows, with ST Nuotai leading at 16 consecutive days of outflow [2] - Other stocks with significant continuous inflows include Kangwei Century and Kesi Technology, with 11 days and 8 days of inflow, respectively [2]

智通财经APP讯，腾景科技(688195.SH)发布2025年三季度报告，前三季度，公司实现营业收入4.25亿 元，同比增长28.11%。归属于上市公司股东的净利润6380.25万元，同比增长15.00%。归属于上市公司 股东的扣除非经常性损益的净利润6127.14万元，同比增长14.96%。 ...

2025年10月24日 腾景科技股份有限公司 2025年第一次临时股东大会会议资料 证券代码：688195 证券简称：腾景科技 腾景科技股份有限公司 2025年第一次临时股东大会会议资料 目录 | 股东大会会议须知 | 1 | | --- | --- | | 股东大会会议议程 | 3 | | 议案一：关于《2025年员工持股计划（草案）》及其摘要的议案 | 5 | | 议案二：关于《2025年员工持股计划管理办法》的议案 | 6 | | 议案三：关于提请股东大会授权董事会办理2025年员工持股计划相关事宜的议案 | 7 | | 议案四：关于增加2025年度向金融机构申请授信额度的议案 | 9 | | 议案五：关于为控股子公司提供担保的议案 | 11 | | 议案六：关于取消监事会、修订《公司章程》暨修订、制定及废止公司部分治理制度的议案15 | | | 议案七：关于选举第三届董事会非独立董事的议案 | 18 | | 议案八：关于选举第三届董事会独立董事的议案 | 21 | 腾景科技股份有限公司 2025年第一次临时股东大会会议资料 股东大会会议须知 为保障腾景科技股份有限公司（以下简称"公司"或"腾景科技"） ...

腾景科技股份有限公司 2025 年第三季度报告 证券代码：688195 证券简称：腾景科技 腾景科技股份有限公司 2025 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 | | | | 单位：元 | 币种：人民币 | | --- | --- | --- | --- | --- | | | | 本报告期比 | | 年初至报告期 | | | | 上年同期增 | | 末比上年同期 | | 项目 | 本报告期 | 减变动幅度 | 年初至报告期末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 162,253,874.81 | ...

Core Viewpoint - Tengjing Technology (688195.SH) reported a significant increase in revenue and net profit for Q3 2025, driven by the demand for AI computing power and growth in the optical communication components market [1] Financial Performance - The company's operating revenue for Q3 2025 reached 162 million yuan, representing a year-on-year growth of 34.83% [1] - The net profit attributable to shareholders was 27.21 million yuan, showing a year-on-year increase of 20.11% [1] Market Drivers - The growth in revenue is primarily attributed to the increasing demand for AI computing power, which has positively impacted the optical communication sector [1] - The company has been actively expanding its business and product delivery in the optical communication field, contributing to revenue growth [1] - High growth in the high-end optical module business for semiconductor equipment and a recovery in customer demand in the industrial laser sector also supported revenue increases [1]

格隆汇10月17日丨腾景科技(688195.SH)公布，公司前三季度实现营业收入4.25亿元，同比增长28.11%； 归属于上市公司股东的净利润6380.25万元，同比增长15.00%；归属于上市公司股东的扣除非经常性损 益的净利润6127.14万元，同比增长14.96%；基本每股收益0.50元。 ...

腾景科技公告，第三季度营收为1.62亿元，同比增长34.83%；净利润为2721.37万元，同比增长 20.11%。前三季度营收为4.25亿元，同比增长28.11%；净利润为6380.25万元，同比增长15.00%。 ...

Summary of AI Industry Conference Call Industry Overview - The AI chip demand is surging, driving the development of the industry chain, with major players like Meta and Google accelerating their ASIC chip deployments and repeatedly raising their demand forecasts for 2026, particularly with Google's V7 chip set to fully adopt liquid cooling technology [1][2] Key Points and Arguments - **Liquid Cooling Technology**: - Liquid cooling has become a standard for AI giants, with Google planning to fully adopt it by 2026 and Meta already implementing it in their self-developed chips [1][3] - Infinet is collaborating with Google to develop a universal CDU suitable for various ASIC chips, indicating a trend towards silent liquid cooling in the future [1][4] - **High-Speed Optical Modules**: - The evolution towards 1.6T optical modules is evident, with Google's V7 chip primarily utilizing this technology, benefiting leading companies like Zhongji Xuchuang and Xinyi Sheng [1][5] - The demand for CW light sources is also increasing, positively impacting companies like Yuanjie Technology [1][5] - **OCS Switches**: - Google's OCS switches are expected to achieve over 50% growth next year, benefiting manufacturers like Dekoli and Guangku Technology, as well as component suppliers like Tengjing Technology and Juguang Technology [1][6] - **Competitive Advantages**: - Infinet stands out in the global AI industry chain due to its comprehensive solutions and delivery capabilities, having secured clients like Intel, Meta, Google, and OpenAI [1][7][8] - Zhongji Xuchuang and Xinyi Sheng are recognized as leaders in the high-speed optical module sector, while Yuanjie Technology is a key supplier in the CW light source market [1][8] Additional Insights - **Market Dynamics**: - The global AI industry chain is accelerating, particularly in overseas markets, with OpenAI collaborating with major chip companies like Broadcom, AMD, and NVIDIA, creating a significant siphoning effect [2] - The domestic AI computing card market is currently facing a supply shortage, but improvements are expected in 2026, with major domestic players like Alibaba, ByteDance, and Tencent likely to increase their AI investments significantly [11] - **Emerging Technologies**: - The supernode technology is anticipated to explode in 2026, presenting opportunities across various sectors, including chips, machine manufacturing, optical modules, liquid cooling, copper connections, and server power supplies [12][13] - **AIDC Sector Outlook**: - The AIDC sector, which includes data center construction and power systems, is expected to see improved bidding progress as domestic chip supply increases in 2026, benefiting companies in cooling, power supply, and data center management [14] - **Market Volatility**: - Short-term market fluctuations due to tariff disturbances are not expected to alter the long-term growth trajectory of the AI industry, with upcoming catalysts likely to positively impact the entire industry chain [15]

Core Insights - The photolithography concept sector saw a rise of 3.20%, ranking third among concept sectors, with 32 stocks increasing in value, including New Lai Materials which hit the daily limit up of 20% [1] - The leading gainers in the sector included Jiangfeng Electronics, Fuchuang Precision, and Guolin Technology, which rose by 14.54%, 13.50%, and 13.39% respectively [1] - Conversely, the biggest losers were Lante Optics, Dazhu Laser, and Tengjing Technology, which fell by 5.01%, 3.72%, and 3.00% respectively [1] Market Performance - The top-performing concept sectors today included Rare Earth Permanent Magnets with a gain of 6.92% and Military Equipment Restructuring Concept with a gain of 3.51%, while the photolithography sector gained 3.20% [2] - The sector attracted a net inflow of 0.81 billion yuan from main funds, with 19 stocks receiving net inflows, and 5 stocks exceeding 50 million yuan in net inflows [2] - The stock with the highest net inflow was Kai Meite Gas, which saw a net inflow of 2.52 billion yuan, followed by Fuchuang Precision and Jiangfeng Electronics with net inflows of 1.36 billion yuan and 999.47 million yuan respectively [2] Fund Flow Analysis - The stocks with the highest net inflow ratios included Fuchuang Precision, Kai Meite Gas, and Nanjing Chemical Fiber, with net inflow ratios of 9.70%, 9.58%, and 8.95% respectively [3] - The photolithography concept fund flow rankings showed that Kai Meite Gas had a daily increase of 9.98% with a turnover rate of 14.09%, while Fuchuang Precision increased by 13.50% with a turnover rate of 5.27% [3][4] - Other notable performers included Jiangfeng Electronics with a 10.02% increase and a turnover rate of 11.55%, and Wavelength Optoelectronics with a 12.12% increase and a turnover rate of 41.04% [3][4]

一个个看起来平平无奇的精密光学元组件，正在为机器开"眼睛"，为AI通"神经"，为量子计算架"光路"，成为全球科技争锋的"基础战力"。在当今世界量 子计算科研领域前沿的18个光量子比特纠缠项目中，在我国自主研发的"九章"和"九章二号"量子计算原型机里，都有腾景科技提供的精密光学元组件产 品。 "中国光电产业正经历强劲的国产替代趋势，从关键光电组件到下游终端产品，整体技术水平显著提升，国际竞争力大幅增强，关键元器件的国产化已上 升至战略层面。"腾景科技董事长余洪瑞接受证券时报记者专访时表示。成立于2013年的腾景科技，如今正成为在光通信、半导体设备相关高端光学元器 件领域推动国产替代进程的"攻坚者"。 国产替代：剑指技术壁垒和"终极堡垒" 光学元组件虽小，却是现代科技体系的核心组件，在通信、人工智能、高端装备与先进制造等领域发挥着不可替代的作用。据介绍，在这一赛道，腾景科 技基于核心技术的创新成果，开发了系列定制化精密光学元组件、光纤器件产品，广泛应用于光通信、光纤激光、科研、生物医疗、消费类光学、半导体 设备等领域。 目前，腾景科技构建了六大类核心技术平台，分别是"光学薄膜类""精密光学类""模压玻璃非球面类" ...