Group 1 - The company, Dekoli, announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.10 yuan per share (tax included) [1] - The record date for the dividend is set for October 20, 2025, with the ex-dividend date and payment date both scheduled for October 21, 2025 [1]

证券代码：688205 证券简称：德科立 公告编号：2025-050 无锡市德科立光电子技术股份有限公司 2025年半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 重要内容提示： 每股现金红利0.10元 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/10/20 | 2025/10/21 | 2025/10/21 | 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 15 日的2024年年度股东会授权董事会在 符合利润分配条件下制定，并经 2025 年 8 月 28 日召开的第二届董事会第十五次 会议、审计委员会 2025 年第二次会议审议通过。 二、 分配方案 1. 发放年度：2025年半年度 2. 分派对象： 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。 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。 | 股权登记日 | 除权（息）日 | 现金 ...

Core Insights - The A-share market saw a collective pullback in CPO concept stocks, with significant declines in several companies [1] Group 1: Market Performance - New Yi Sheng (300502) experienced a decline of 7.93%, with a total market capitalization of 319 billion and a year-to-date increase of 290.32% [2] - Tongfu Microelectronics (002156) fell by 7.45%, holding a market cap of 66 billion and a year-to-date increase of 47.36% [2] - Zhongji Xuchuang (300308) dropped by 6.61%, with a market value of 391.2 billion and a year-to-date increase of 186.48% [2] - Other notable declines include Hui Green Ecology (-5.89%), Jiepute (-5.34%), and Dekeli (-4.91%) [1][2] Group 2: Additional Company Performance - Lian Te Technology and Dekeli both saw declines of 4.91%, with market caps of 12.1 billion and 15.7 billion respectively [2] - Zhongtian Technology (600522) decreased by 4.18%, with a market capitalization of 61.9 billion and a year-to-date increase of 29.31% [2] - Cambridge Technology (603083) fell by 4.17%, with a market cap of 27.7 billion and a year-to-date increase of 155.76% [2]

Core Viewpoint - The CPO concept stocks in the A-share market experienced a collective decline, with several companies reporting significant drops in their stock prices as of the midday close on October 14 [1]. Group 1: Stock Performance - Xinyiseng (新易盛) saw a decline of 7.93%, with a total market capitalization of 319 billion and a year-to-date increase of 290.32% [2]. - Tongfu Microelectronics (通富微电) dropped by 7.45%, holding a market cap of 66 billion and a year-to-date increase of 47.36% [2]. - Zhongji Xuchuang (中际旭创) fell by 6.61%, with a market value of 391.2 billion and a year-to-date increase of 186.48% [2]. - Huilv Ecology (汇绿生态) decreased by 5.89%, with a market cap of 11.5 billion and a year-to-date increase of 93.43% [2]. - Jiepute (杰普特) experienced a decline of 5.34%, with a market capitalization of 12.8 billion and a year-to-date increase of 185.16% [2]. - Other notable declines include Dekeli (德科立) at -4.91%, Liantech (联特科技) at -4.91%, and Zhongtian Technology (中天科技) at -4.18% [2]. Group 2: Market Trends - The overall trend indicates a bearish sentiment in the CPO sector, with multiple stocks experiencing declines of over 4% [1]. - Despite the current downturn, some stocks have shown strong year-to-date performance, indicating potential resilience in the sector [2].

Core Viewpoint - The stock of Dekoli experienced a decline of 2.02% on October 14, 2023, with a current price of 102.53 CNY per share, reflecting a significant fluctuation in trading activity and investor sentiment [1]. Company Overview - Dekoli, established on January 31, 2000, and listed on August 9, 2022, is located in Wuxi, Jiangsu Province. The company specializes in the research, production, and sales of optical transceiver modules, optical amplifiers, and optical transmission subsystems, primarily serving key national development areas such as communication trunk transmission, 5G front-haul, and data center interconnection [2]. - The revenue composition of Dekoli is as follows: transmission-related products account for 75.33%, access and data-related products for 23.54%, and other products for 1.13% [2]. Financial Performance - For the first half of 2025, Dekoli reported a revenue of 433 million CNY, representing a year-on-year growth of 5.93%. However, the net profit attributable to shareholders decreased by 48.17% to 28.09 million CNY [2]. - Since its A-share listing, Dekoli has distributed a total of 142 million CNY in dividends [3]. Shareholder Structure - As of June 30, 2025, Dekoli had 9,508 shareholders, a decrease of 10.52% from the previous period. The average number of circulating shares per shareholder increased by 47.14% to 9,395 shares [2]. - The top ten circulating shareholders include several new entrants, with notable holdings such as 3.01 million shares by Invesco Great Wall Quality Evergreen Mixed A and 2.05 million shares by Caitong Value Momentum Mixed A [3].

Group 1 - The CPO concept experienced a sharp decline, with companies like New Yisheng dropping over 5% and Zhongji Xuchuang falling nearly 4% [1] - Other companies such as Dekeli and Tianfu Communication also saw collective declines in their stock prices [1]

Core Viewpoint - The company, Dekoli, has shown mixed financial performance with a slight increase in revenue but a significant decrease in net profit, indicating potential challenges ahead in maintaining profitability [2]. Financing and Trading Activity - On October 13, Dekoli's stock price increased by 0.25%, with a trading volume of 1.009 billion yuan. The financing buy-in amount was 59.1267 million yuan, while the financing repayment was 99.6930 million yuan, resulting in a net financing outflow of 40.5662 million yuan [1]. - As of October 13, the total financing and securities lending balance for Dekoli was 803 million yuan, which represents 4.85% of its market capitalization and is above the 90th percentile of the past year [1]. - There were no securities lent or sold on October 13, with the securities lending balance also at zero, indicating a high level of inactivity in this area [1]. Business Overview - Dekoli, established on January 31, 2000, and listed on August 9, 2022, specializes in the research, production, and sales of optical transceiver modules, optical amplifiers, and optical transmission subsystems. Its products are primarily used in key national development areas such as communication trunk transmission and 5G networks [1]. - The revenue composition of Dekoli is as follows: transmission-related products account for 75.33%, access and data-related products for 23.54%, and other products for 1.13% [1]. Shareholder and Institutional Holdings - As of June 30, 2025, Dekoli had 9,508 shareholders, a decrease of 10.52% from the previous period. The average number of circulating shares per shareholder increased by 47.14% to 9,395 shares [2]. - For the first half of 2025, Dekoli reported a revenue of 433 million yuan, a year-on-year increase of 5.93%, while the net profit attributable to shareholders was 28.0937 million yuan, reflecting a year-on-year decrease of 48.17% [2]. - The total cash dividends distributed by Dekoli since its A-share listing amount to 142 million yuan [3]. - Among the top ten circulating shareholders as of June 30, 2025, several new institutional investors have entered, including Invesco Great Wall Quality Evergreen Mixed Fund and others, indicating a shift in shareholder composition [3].

Core Insights - On October 10, Dekoli's stock fell by 10.31%, with a trading volume of 1.381 billion yuan [1] - The company recorded a net financing purchase of 5.597 million yuan on the same day, with a total financing balance of 844 million yuan, accounting for 5.11% of its market capitalization [1] - As of June 30, 2025, Dekoli's revenue was 433 million yuan, a year-on-year increase of 5.93%, while net profit decreased by 48.17% to 28.0937 million yuan [2] Financing and Trading Activity - On October 10, Dekoli had a financing buy of 161 million yuan and a financing repayment of 156 million yuan, resulting in a net financing purchase of 5.597 million yuan [1] - The total financing and securities lending balance reached 844 million yuan, which is above the 90th percentile of the past year [1] - No shares were sold or repaid in the securities lending segment on October 10, indicating a lack of short-selling activity [1] Company Overview - Dekoli, established on January 31, 2000, and listed on August 9, 2022, specializes in the research, production, and sales of optical transceiver modules, optical amplifiers, and optical transmission subsystems [1] - The company's main business revenue composition includes 75.33% from transmission, 23.54% from access and data, and 1.13% from other sources [1] Shareholder and Institutional Holdings - As of June 30, 2025, Dekoli had 9,508 shareholders, a decrease of 10.52% from the previous period, with an average of 9,395 circulating shares per shareholder, an increase of 47.14% [2] - The top circulating shareholder is Invesco Great Wall Quality Evergreen Mixed A, holding 3.0115 million shares, marking a new entry [3] - Other notable institutional shareholders include CICC Value Momentum Mixed A and E Fund Vision Growth Mixed A, with significant increases in their holdings [3]

Investment Rating - The report suggests to continue focusing on investment opportunities within the communication industry [2] Core Insights - The communication industry showed steady revenue growth and accelerated profitability in H1 2025, with total revenue reaching 1785.003 billion yuan, a year-on-year increase of 10.07%, and net profit attributable to shareholders at 160.432 billion yuan, up 11.26% year-on-year [4][7] - The AI computing industry chain is expected to continue accelerating its development in 2025, benefiting the communication industry [17][19] Summary by Sections H1 2025 Performance Overview - The communication industry achieved a total revenue of 1785.003 billion yuan in H1 2025, with a year-on-year growth of 10.07%, and a net profit of 160.432 billion yuan, reflecting an 11.26% increase [4][7] Segment Performance Changes - In H1 2025, the optical module and device segment reported revenue of 47.988 billion yuan, a year-on-year increase of 64.88%, and net profit of 10.876 billion yuan, up 111.99% [25] - The communication PCB segment achieved revenue of 57.249 billion yuan, a year-on-year increase of 37.66%, and net profit of 8.058 billion yuan, up 80.79% [31] - The network equipment segment generated revenue of 507.111 billion yuan, a year-on-year increase of 28.86%, with net profit of 19.184 billion yuan, up 19.57% [37] AI Industry Chain Investment - Major overseas cloud companies are expected to maintain optimistic growth in capital expenditures, with a total of 95 billion USD in Q2 2025, reflecting an 82.96% year-on-year increase [17] - Companies like Oracle and Nvidia are showing strong growth prospects in their AI-related businesses, with Oracle's unfulfilled revenue reaching 455 billion USD, a year-on-year increase of 359% [22][19]

Core Viewpoint - The company is progressing with its capacity expansion plan in Thailand, which is attracting significant market attention due to its potential to serve major global AI enterprises [1] Group 1: Capacity Expansion - The construction of the Thai facility is advancing as planned, with civil works completed and the site currently undergoing renovations [1] - The facility is expected to gradually start operations and release capacity after the Chinese New Year in 2026 [1] Group 2: Client Engagement - The company has already certified two to three clients, with new clients currently undergoing the certification process [1] - There are indications that the company is in commercial negotiations regarding future capacity allocation with large internet or computing service providers [1]