HKEX 香 港交 易 所 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 2025年10月31日 截至月份: 狀態:新提交 致:香港交易及結算所有限公司 公司名稱: 峰昭科技(深圳)股份有限公司 呈交日期: 2025年11月4日 l. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市(註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號(如上市) | 01304 | 說明 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底结存 | | | 21,556,000 RMB | | 1 RMB | | 21,556,000 | | 增加 / 減少 (-) | | | | | RMB | | 01 | | 本月底結存 | | | 21,556,000 RMB | | 1 RMB | | 21,556,000 | FF301 本公司乃於中華人民共和國註冊成立的股份有限公司。 FF301 第 2 ...

Core Points - The Shanghai Composite Index closed at 3960.19 points, with a decline of 0.41% and a total trading volume of 1,938.395 billion yuan [1] - A total of 107 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] Group 1: Stocks with Significant Death Cross - Hongyuan Electronics (603267) had a 5-day moving average of 52.69 yuan, down 1.97% from the 10-day moving average of 53.74 yuan, with a current price of 48.86 yuan, representing a deviation of -9.09% [1] - Zhongjian Technology (002779) reported a 5-day moving average of 123.82 yuan, down 1.88% from the 10-day moving average of 126.19 yuan, with a current price of 117.70 yuan, showing a deviation of -6.73% [1] - ST Huizhou (002122) showed a 5-day moving average of 3.56 yuan, down 1.41% from the 10-day moving average of 3.62 yuan, with a current price of 3.23 yuan, indicating a deviation of -10.65% [1] Group 2: Additional Stocks with Death Cross - Chao Hongji (002345) had a 5-day moving average of 13.02 yuan, down 1.33% from the 10-day moving average of 13.20 yuan, with a current price of 11.69 yuan, reflecting a deviation of -11.43% [1] - Kema Technology (301611) reported a 5-day moving average of 54.35 yuan, down 1.30% from the 10-day moving average of 55.06 yuan, with a current price of 52.30 yuan, showing a deviation of -5.02% [1] - Chuangyi Tong (300991) had a 5-day moving average of 40.78 yuan, down 1.26% from the 10-day moving average of 41.30 yuan, with a current price of 39.27 yuan, indicating a deviation of -4.91% [1]

Investment Rating - The report maintains a "Recommended" rating for the company, considering its strong market position and growth potential in the BLDC motor application sector [4][6]. Core Insights - The company achieved a revenue of 558 million yuan in the first three quarters of 2025, representing a year-on-year growth of 28.88%. However, the net profit attributable to shareholders decreased by 9.01% to 167 million yuan due to a slight decline in gross margin and increased R&D expenses [1][2]. - The company is focusing on core business areas, with significant growth in emerging sectors such as white goods, automotive, and industrial applications. The revenue from the white goods sector increased to 20.89%, while automotive electronics contributed 10.12% to total revenue [3]. - R&D investment reached 110 million yuan in the first three quarters of 2025, a 68.30% increase year-on-year, accounting for 19.63% of revenue. This investment is expected to drive future growth through new product launches, including sensors [3]. Summary by Sections Financial Performance - In Q3 2025, the company reported a revenue of 183 million yuan, a year-on-year increase of 21.46%, but a quarter-on-quarter decrease of 10.32%. The net profit for the quarter was 51 million yuan, down 17.89% year-on-year and 23.25% quarter-on-quarter [1][2]. - The overall gross margin for the first three quarters of 2025 was 51.75%, a decrease of 1.19 percentage points year-on-year, with Q3 2025 gross margin at 50.38% [2]. R&D and Product Development - The company has significantly increased its R&D efforts, with a total investment of 110 million yuan in the first three quarters of 2025, which is 68.30% higher than the previous year. This investment is crucial for expanding product offerings and enhancing customer capabilities [3]. Market Expansion - The company is actively expanding into new markets, particularly in automotive and industrial sectors, which are expected to contribute to revenue growth. The automotive sector's contribution to revenue is growing rapidly, supported by certifications for its products [3]. Profit Forecast - The projected net profits for 2025-2027 are 253 million yuan, 358 million yuan, and 463 million yuan, respectively, with corresponding PE ratios of 88, 62, and 48 [4][5].

Core Insights - The company reported a revenue of 183 million yuan for Q3 2025, representing a year-on-year increase of 21.46% [2][3] - Net profit attributable to shareholders decreased by 17.89% to 50.73 million yuan in Q3 2025 [2][3] - For the first three quarters of 2025, total revenue reached 558 million yuan, up 28.88% year-on-year, while net profit attributable to shareholders fell by 9.01% to 167 million yuan [2][3] Financial Performance - Total revenue for Q3 2025 was 182,796,942.97 yuan, with a year-on-year increase of 21.46% [3] - The total profit for Q3 2025 was 52,308,161.65 yuan, showing a decline of 14.54% compared to the same period last year [3] - The net profit excluding non-recurring gains and losses for Q3 2025 was 45,935,923.66 yuan, down 10.90% year-on-year [3] Earnings and Cash Flow - Basic earnings per share for Q3 2025 were 0.46 yuan, a decrease of 31.34% [4] - The net cash flow from operating activities for the first three quarters of 2025 was 176 million yuan, an increase of 46.55% year-on-year, attributed to expanded sales and improved collection [4][5] - Research and development expenses totaled 38,820,117.14 yuan in Q3 2025, representing 21.24% of revenue, an increase of 4.71 percentage points [4] Company Overview - The company specializes in the research, design, and sales of motor drive control chips, with applications in smart home appliances, white goods, automotive electronics, and industrial control [4] - In July 2025, the company successfully issued H-shares and listed on the Hong Kong Stock Exchange, marking a significant step in its internationalization strategy [5]

Core Insights - Peak Technology (688279.SH) reported its Q3 2025 results, revealing that 40 institutional investors hold a total of 66.5289 million shares, representing 58.40% of the company's total equity [1] - The top ten institutional investors collectively hold 53.87% of the shares, with a notable decrease of 11.75 percentage points compared to the previous quarter [1] Institutional Holdings - In the public fund sector, 13 funds increased their holdings, with a total increase ratio of 0.93%, including notable funds such as Guotai Valuation Advantage Mixed (LOF) A and Ping An Advanced Manufacturing Theme Stock Initiation A [2] - Conversely, 12 public funds reduced their holdings, with a decrease ratio of 1.15%, including funds like Taixin Xin Selected Mixed A and Guotai Intelligent Equipment Stock A [2] - Five new public funds were disclosed this period, while 289 funds were not disclosed compared to the previous quarter [2] Social Security Fund - One social security fund, the National Social Security Fund 114 Combination, was not disclosed in this period compared to the previous quarter [3] Foreign Investment - One foreign institution, Hong Kong Central Clearing Limited, was not disclosed in this period compared to the previous quarter [4]

Core Insights - The company reported a total operating revenue of 558 million yuan for the first three quarters of 2025, representing a year-on-year increase of 28.88% [1] - The net profit attributable to shareholders decreased by 9.01% year-on-year, amounting to 167 million yuan [1] - The basic earnings per share stood at 1.72 yuan [1]

Core Viewpoint - Fengcai Technology (01304.HK) reported a revenue of approximately 558 million yuan for the first three quarters of 2025, representing a year-on-year increase of 28.88%. However, the net profit attributable to shareholders decreased by 9.01% to about 167 million yuan, with basic earnings per share at 1.72 yuan [1]. Financial Performance - Revenue for the first three quarters of 2025 reached approximately 558 million yuan, marking a year-on-year growth of 28.88% [1] - Net profit attributable to shareholders was around 167 million yuan, reflecting a year-on-year decline of 9.01% [1] - Basic earnings per share stood at 1.72 yuan [1]

Core Insights - The company, Peak Technology (688279.SH), reported a total operating revenue of 558 million yuan for the first three quarters of 2025, representing a year-on-year increase of 28.88% [1] - The net profit attributable to shareholders decreased by 9.01% year-on-year, amounting to 167 million yuan [1] - The basic earnings per share stood at 1.72 yuan [1]

Group 1 - The core viewpoint of the news is that Fengcai Technology reported its third-quarter performance, showing a revenue increase but a decline in net profit [1] - For the first three quarters of 2025, the company's revenue was approximately 558 million yuan, representing a year-on-year increase of 28.88% [1] - The net profit attributable to shareholders of the listed company was about 167 million yuan, reflecting a year-on-year decrease of 9.01% [1] Group 2 - As of the report, Fengcai Technology has a market capitalization of 22.5 billion yuan [2] - The A-share market has surpassed 4000 points, indicating a significant market resurgence and a new "slow bull" pattern [2]

Financial Performance - The company's operating revenue for Q3 2025 was ¥182,796,942.97, representing a year-on-year increase of 21.46%[4] - The total profit for the period was ¥52,308,161.65, showing a decrease of 14.54% compared to the same period last year[4] - The net profit attributable to shareholders was ¥50,734,374.65, down 17.89% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached ¥557,836,750.02, an increase of 28.9% compared to ¥432,827,240.54 in the same period of 2024[24] - Net profit for the first three quarters of 2025 was ¥167,246,047.79, a decrease of 9.0% from ¥183,812,263.84 in the same period of 2024[25] - The total comprehensive income for the period was CNY 166,919,281.15, compared to CNY 183,514,566.60 in the previous period, reflecting a decrease of approximately 9.1%[26] Research and Development - Research and development expenses totaled ¥38,820,117.14, accounting for 21.24% of operating revenue, an increase of 4.71 percentage points from the previous year[5] - The company plans to continue strengthening its R&D investment, which has already seen a 68.30% increase year-to-date[12] - Research and development expenses increased to ¥109,529,795.60 in the first three quarters of 2025, compared to ¥65,078,833.46 in 2024, reflecting a growth of 68.2%[24] Assets and Liabilities - The company's total assets reached ¥5,113,512,174.92, reflecting a significant increase of 93.02% compared to the end of the previous year[5] - Total liabilities increased to ¥146,363,929.10, compared to ¥96,315,024.51 in the previous year, marking a rise of 52.1%[20] - The company's equity attributable to shareholders reached ¥4,967,148,245.82, up from ¥2,552,935,807.39, indicating a growth of 94.5%[21] - Other current assets surged to ¥2,322,013,128.51, compared to ¥155,723,905.36 in the previous year, showing a dramatic increase[19] Shareholder Information - The total number of common shareholders at the end of the reporting period was 6,589, while H shareholders numbered 12[16] - The largest shareholder, Peak Technology (Hong Kong) Limited, holds 30.86% of the shares, totaling 35,154,431 shares[15] - The second-largest shareholder, HKSCC Nominees Limited, owns 18.92% of the shares, amounting to 21,554,990 shares[15] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest three shareholders accounting for over 60% of total shares[15] Cash Flow - The cash flow from operating activities increased by 46.55%, primarily due to expanded sales and increased cash receipts[12] - Net cash flow from operating activities increased to CNY 175,998,031.32, up from CNY 120,094,641.60, marking an increase of approximately 46.5%[29] - Cash inflow from investment activities totaled CNY 2,161,565,395.00, down from CNY 3,474,782,374.53, indicating a decrease of about 37.8%[29] - Net cash flow from investment activities was negative at CNY -2,465,387,521.44, compared to CNY -439,257,398.39 in the previous period, showing a significant increase in outflows[29] - Cash flow from financing activities generated CNY 2,219,995,964.62, compared to a negative cash flow of CNY -82,148,166.64 in the previous period, indicating a turnaround[30] Other Information - There are no significant reminders or additional important information regarding the company's operational performance during the reporting period[17] - The company did not execute any mergers or acquisitions during the reporting period, maintaining its current operational structure[31] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities compared to the previous period[17] - The company has not disclosed any pledges, freezes, or margin financing related to the shares held by HKSCC Nominees Limited due to regulatory restrictions[16] - The report indicates that there are no known relationships or concerted actions among the other shareholders listed[16]