Core Points - The Sci-Tech Innovation Board (STAR Market) index rose by 1.40%, closing at 1473.02 points, with a total trading volume of 5.39 billion shares and a turnover of 272.67 billion yuan [1] - Among the tradable stocks on the STAR Market, 289 stocks closed higher, with 13 stocks rising over 10%, including Luvi Optoelectronics and Huahong Semiconductor, which hit the daily limit [1] - The turnover rate for STAR Market stocks showed that 3 stocks had a turnover rate exceeding 20%, while 15 stocks had a turnover rate between 10% and 20% [1] Trading Performance - The highest turnover rate was for Canxin Semiconductor, which closed up 19.80% with a turnover rate of 25.89% and a transaction amount of 2.447 billion yuan [1] - Other notable stocks with high turnover rates included Pioneer Jinke and Qilin Xinan, with turnover rates of 22.09% and 20.50% respectively [3] - Among stocks with a turnover rate over 5%, 92 stocks rose today, with Huahong Semiconductor and Luvi Optoelectronics both increasing by 20.00% [1][2] Sector Analysis - The electronics sector had the highest number of stocks with a turnover rate over 5%, totaling 52 stocks, followed by the computer and power equipment sectors with 20 and 15 stocks respectively [2] - In terms of capital flow, 54 stocks with high turnover rates saw net inflows from main funds, with the highest inflows recorded for SMIC, Huahong Semiconductor, and Western Superconducting, amounting to 704 million yuan, 291 million yuan, and 209 million yuan respectively [2] Leverage Fund Movements - A total of 79 stocks with high turnover rates received net purchases from leveraged funds, with significant increases in financing balances for Kingsoft Office, Huahong Semiconductor, and Yandong Micro, which saw increases of 583 million yuan, 557 million yuan, and 476 million yuan respectively [2]

Core Viewpoint - The A-share market saw a collective decline in Apple concept stocks, with significant drops in several key companies, indicating a bearish trend in this sector [1]. Group 1: Stock Performance - Wenti Technology (闻泰科技) experienced a limit down of 10%, with a total market value of 52.1 billion and a year-to-date increase of 7.86% [2]. - GoerTek (歌尔股份) fell by 6.8%, holding a market capitalization of 117 billion and a year-to-date increase of 30.44% [2]. - Tonglian Precision (统联精密) decreased by 5.4%, with a market value of 8.845 billion and a remarkable year-to-date increase of 176.3% [2]. - Lens Technology (蓝思科技) dropped by 5.24%, with a market capitalization of 159.7 billion and a year-to-date increase of 40.59% [2]. - Pengding Holdings (鹏鼎控股) saw a decline of 5.23%, with a market value of 119 billion and a year-to-date increase of 45.38% [2]. - Luxshare Precision (立讯精密) fell by 5.02%, with a market capitalization of 420.5 billion and a year-to-date increase of 42.48% [2]. - Other notable declines include Blue Special Optics (蓝特光学) down 5.01%, and Liying Intelligent Manufacturing (领益智造) down 4.61% [2]. Group 2: Market Trends - The overall trend in the Apple concept stock sector reflects a significant bearish sentiment, with multiple companies experiencing declines exceeding 4% [1]. - The MACD golden cross signal formation suggests potential upward momentum for some stocks, despite the current downturn [2].

Group 1 - The core viewpoint of the news highlights the target price increases for several companies, with notable gains for SMIC, Weigao Medical, and Tonglian Precision, showing increases of 86.01%, 41.99%, and 38.96% respectively, indicating strong market confidence in the semiconductor, personal care, and consumer electronics sectors [1] Group 2 - From October 6 to October 12, a total of 128 listed companies received broker recommendations, with Shanghai Pudong Development Bank, BYD, and Seres each receiving three recommendations [3][4] - The companies with the highest number of broker recommendations include Shanghai Pudong Development Bank (3), BYD (3), and Seres (3), all indicating strong interest from analysts [4] Group 3 - During the same period, three companies had their ratings upgraded: Ninebot from "Hold" to "Buy" by Everbright Securities, Jiangfeng Electronics from "Hold" to "Buy" by Northeast Securities, and Xizi Clean Energy from "Recommended" to "Strongly Recommended" by Founder Securities [5] - One company, Lens Technology, had its rating downgraded from "Buy" to "Hold" by Caitong Securities [6] Group 4 - A total of 36 first-time coverage ratings were issued, with companies like Weili receiving a "Buy" rating from Changjiang Securities, Dongzhu Ecology receiving a "Buy" rating from Guosheng Securities, and Runjian receiving an "Increase" rating from Zhongyou Securities [7][8]

Group 1 - The core viewpoint of the news is that Tonglian Precision has experienced a decline in stock price, dropping by 5.57% to 57.61 CNY per share, with a trading volume of 293 million CNY and a turnover rate of 3.06%, resulting in a total market capitalization of 9.298 billion CNY [1] - Tonglian Precision, established on June 12, 2016, and listed on December 27, 2021, specializes in the research, design, production, and sales of high-precision, high-density, and complex-shaped precision components [1] - The main business revenue composition of Tonglian Precision includes: 66.47% from other metal craft products and plastic products, 30.78% from MIM products, 1.43% from molds and tools, and 1.32% from other sources [1] Group 2 - Among the top circulating shareholders of Tonglian Precision, Jin Ying Fund has a fund that entered the top ten circulating shareholders, holding 2.2598 million shares, which accounts for 1.41% of the circulating shares [2] - Jin Ying Technology Innovation Stock A (001167) has achieved a year-to-date return of 50.04%, ranking 931 out of 4220 in its category, and a one-year return of 65.86%, ranking 264 out of 3852 [2] - The fund manager of Jin Ying Technology Innovation Stock A is Chen Ying, who has a tenure of 10 years and 125 days, with the fund's total asset size at 8.662 billion CNY [3]

Investment Rating - The report assigns an "Accumulate" rating to the company with a target price of 80.50 CNY [5][12][18]. Core Insights - The company specializes in precision components for folding machines, with expectations for continuous improvement in average selling price (ASP) per unit. The company is steadily advancing its domestic and international production capacity, enhancing its global supply capabilities [2][12][21]. - The projected revenue for the company from 2025 to 2027 is 12.37 billion CNY, 16.10 billion CNY, and 21.39 billion CNY, respectively, with net profit attributable to the parent company expected to be 1.07 billion CNY, 1.86 billion CNY, and 2.76 billion CNY [11][16][18]. Summary by Sections 1. Earnings Forecast and Valuation - The company is expected to achieve revenues of 814 million CNY in 2024, growing to 1.237 billion CNY in 2025, and 1.610 billion CNY in 2026, with a compound annual growth rate (CAGR) of 44.9% from 2024 to 2025 [11][16]. - The estimated earnings per share (EPS) for 2025, 2026, and 2027 are projected to be 0.66 CNY, 1.15 CNY, and 1.71 CNY, respectively, indicating significant growth rates of 43.3%, 73.9%, and 48.2% [11][12][18]. 2. Business Situation - The company focuses on MIM (Metal Injection Molding) and non-MIM components, with a strong presence in the supply chains of major smartphone brands, including Apple and Amazon. The company is well-positioned to benefit from the increasing demand for folding screen devices [21][22]. - The revenue from non-MIM precision components is expected to reach 460 million CNY in 2024, representing a year-on-year growth of 101.9%, driven by new projects from major clients [12][21][24]. 3. Production Capacity and Global Supply Chain - The company is making steady progress in establishing new production capacities both domestically and internationally, with factories in Changsha, Hunan, and Vietnam entering phased production [12][24].

Core Viewpoint - The company, Tonglian Precision, experienced a decline in stock price and trading volume on October 9, with a net financing outflow, indicating potential investor caution and high financing levels [1]. Financing and Trading Data - On October 9, Tonglian Precision's stock fell by 2.31%, with a trading volume of 384 million yuan. The financing buy-in amounted to 65.26 million yuan, while financing repayment was 70.39 million yuan, resulting in a net financing outflow of 5.13 million yuan [1]. - As of October 9, the total financing and securities lending balance for Tonglian Precision was 466 million yuan, representing 4.73% of its market capitalization, which is above the 90th percentile of the past year, indicating a high level of financing [1]. - In terms of securities lending, there were no shares repaid or sold on October 9, with a lending balance of 0 shares, also reflecting a high level at the 80th percentile of the past year [1]. Company Overview - Tonglian Precision, established on June 12, 2016, and listed on December 27, 2021, is located in Longhua District, Shenzhen, Guangdong Province. The company specializes in the research, design, production, and sales of high-precision, high-density, and complex-shaped precision components [1]. - The main revenue sources for the company include other metal craft products and plastic products (66.47%), MIM products (30.78%), mold tooling and equipment (1.43%), and others (1.32%) [1]. Financial Performance - As of June 30, the number of shareholders for Tonglian Precision was 5,843, a decrease of 10.30% from the previous period. The average number of circulating shares per person increased by 66.36% to 27,424 shares [2]. - For the first half of 2025, the company reported revenue of 402 million yuan, a year-on-year increase of 10.01%. However, the net profit attributable to shareholders decreased by 88.24% to 4.87 million yuan [2]. Dividend and Shareholder Information - Since its A-share listing, Tonglian Precision has distributed a total of 147 million yuan in dividends, with 131 million yuan distributed over the past three years [3]. - As of June 30, 2025, among the top ten circulating shareholders, Jinying Technology Innovation Stock A (001167) was the eighth largest shareholder with 2.26 million shares, marking a new entry. Additionally, Bosera Science and Technology Innovation Board Three-Year Open Mixed Fund (506005) was the ninth largest shareholder, increasing its holdings by 438,200 shares [3].

Core Viewpoint - Tonglian Precision (688210.SH) announced a share buyback program, indicating a strategic move to enhance shareholder value and confidence in the company's future prospects [1] Summary by Categories Share Buyback Details - The company repurchased a total of 2,218,462 shares, which represents 1.3745% of the current total share capital [1] - The highest price paid for the shares was 23.199 CNY per share, while the lowest price was 14.580 CNY per share [1] - The total amount spent on the buyback was approximately 41.699596 million CNY, excluding transaction fees such as stamp duty and commissions [1]

证券代码：688210 证券简称：统联精密 公告编号：2025-070 | 回购方案首次披露日 | 2024/11/6 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 11 月 日~2025 年 11 | 4 | 月 | 3 | 日 | | 预计回购金额 | 万元 5,000 万元~10,000 | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | □用于转换公司可转债 | | | | | | | □为维护公司价值及股东权益 | | | | | | 累计已回购股数 | 221.8462 万股 | | | | | | 累计已回购股数占总股本比例 | 1.3745% | | | | | | 累计已回购金额 | 4,169.9596 万元 | | | | | | 实际回购价格区间 | 14.580 元/股~23.199 元/股 | | | | | 一、 回购股份的基本情况 深圳市泛海统联精密制造股份有限公司（以下简称"公司"）于 2024 年 11 月 4 日召开第二届董 ...

Core Insights - The stock of Tonglian Precision increased by 5.16% to 64.99 CNY per share, with a trading volume of 141 million CNY and a turnover rate of 1.38%, resulting in a total market capitalization of 10.489 billion CNY [1] Company Overview - Tonglian Precision, established on June 12, 2016, and listed on December 27, 2021, is located in Longhua District, Shenzhen, Guangdong Province. The company specializes in the research, design, production, and sales of high-precision, high-density, complex-shaped, and aesthetically pleasing precision components [1] - The main business revenue composition includes: 66.47% from other metal craft products and plastic products, 30.78% from MIM products, 1.43% from molds and tools, and 1.32% from other sources [1] Shareholder Insights - Jin Ying Fund's Jin Ying Technology Innovation Stock A (001167) entered the top ten circulating shareholders of Tonglian Precision in the second quarter, holding 2.2598 million shares, which accounts for 1.41% of the circulating shares. The estimated floating profit today is approximately 7.2089 million CNY [2] - Jin Ying Technology Innovation Stock A was established on April 30, 2015, with a latest scale of 3.19 billion CNY. Year-to-date returns are 46.16%, ranking 939 out of 4220 in its category; one-year returns are 83.04%, ranking 464 out of 3846; and since inception, returns are 162.95% [2]

Core Viewpoint - Next week, 36 stocks will face a lock-up expiration, with a total market value of 40.081 billion yuan set to be released [2][3]. Group 1: Lock-up Expiration Details - A total of 36 stocks will have their lock-up period expire over the next two trading days, amounting to a combined market value of 40.081 billion yuan based on the latest closing prices [2]. - Ningbo Port will see 3.647 billion shares become tradable, primarily from a directed placement, with a lock-up value of 13.202 billion yuan [3]. - Wan Kai New Materials will have 230 million shares released, mainly from original shareholders, with a lock-up value of 4.665 billion yuan [3]. - Eight stocks, including Changhong Energy and Lanzhou Bank, will have relatively low lock-up pressures, with values under 10 million yuan [3]. Group 2: Performance of Stocks Facing Expiration - Among the 36 stocks, 7 reported losses in the first half of the year, with companies like Woge Optoelectronics and Andar Intelligent showing significant losses exceeding 50 million yuan [5]. - The average stock price of the 36 stocks has increased by 0.64% since September, with Weiteou and Tonglian Precision showing the highest gains of 59.4% and 41.67%, respectively [4]. - Stocks that have seen price declines include Guangzi International and Aike Saibo, with Yifang Bio-U experiencing the largest drop of 18.31% since September [4]. Group 3: Institutional Research and Market Sentiment - Eight stocks facing lock-up expiration have received institutional research in the past month, indicating interest from institutional investors [4]. - Xidi Micro has garnered attention from 51 institutional investors, focusing on a diversified product matrix in consumer electronics and extending into automotive and industrial sectors [4]. - Jiao Cheng Ultrasonic has been researched by 36 institutions, highlighting its comprehensive ultrasonic solutions in the power semiconductor field and established partnerships with notable companies [4].