Core Viewpoint - Qingyue Technology (688496.SH) announced a stock buyback plan proposed by its chairman, general manager, and actual controller, Gao Yudi, aimed at implementing an equity incentive plan or employee stock ownership plan [1] Summary by Categories Buyback Plan - The company plans to use its own funds to repurchase a portion of its A-shares [1] - The buyback price will not exceed 150% of the average trading price of the stock over the 30 trading days prior to the board's resolution [1] - The total amount for the buyback will be no less than 10 million yuan and no more than 20 million yuan, with the funds sourced from the company's own capital [1] - The buyback period is set for 12 months from the date of the board's approval [1]

Group 1 - The core point of the article is that Qingyue Technology announced a share buyback proposal by its chairman and actual controller, Gao Yudi, with a total amount between RMB 10 million and RMB 20 million to be used for employee stock ownership plans or equity incentive plans [1] - The revenue composition for Qingyue Technology in 2024 is as follows: electronic paper modules account for 70.01%, PMOLED accounts for 18.36%, AMOLED accounts for 3.85%, other businesses account for 3.61%, and silicon-based OLED accounts for 1.69% [1] - As of the report, Qingyue Technology has a market capitalization of RMB 2.9 billion [1] Group 2 - The article highlights a significant increase in overseas orders for a certain industry, with a growth of 246%, covering over 50 countries and regions [1] - Entrepreneurs are warned about the risk of malicious competition extending overseas, as some are selling at a loss [1]

二、提议人提议回购股份的原因和目的 证券代码：688496 证券简称：清越科技 公告编号：2025-052 苏州清越光电科技股份有限公司 关于公司董事长、总经理、实际控制人提议公司 回购股份的公告 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： 苏州清越光电科技股份有限公司（以下简称"公司"）董事会于 2025 年 11 月 4 日收到公司董事长、总经理、实际控制人高裕弟先生《关于提议苏州 清越光电科技股份有限公司回购公司股份的函》。高裕弟先生提议公司使用自有 资金回购公司已发行的部分人民币普通股（A 股）股票，在未来适宜时机用于实 施股权激励计划或员工持股计划。 本次提议回购的具体情况如下： 一、提议人的基本情况及提议时间 1、提议人：董事长、总经理、实际控制人高裕弟先生 2、提议时间：2025 年 11 月 4 日 公司董事长、总经理、实际控制人高裕弟先生基于对公司未来持续稳定发展 的信心和对公司长期价值的认可，维护公司广大投资者尤其是中小投资者的利益， 增强投资者信心，同时为了进一步建立健全公司长效激 ...

Core Viewpoint - Qingyue Technology (688496) announced a proposal for a share buyback using its own funds, aimed at implementing an equity incentive plan or employee stock ownership plan in the future [1] Group 1 - The chairman, general manager, and actual controller Gao Yudi proposed the buyback [1] - The total amount for the buyback will not be less than 10 million RMB and not exceed 20 million RMB [1]

Core Viewpoint - Qingyue Technology announced a proposal for a share buyback program, indicating confidence in the company's value and future prospects [1] Summary by Categories Company Actions - The chairman, general manager, and actual controller, Gao Yudi, proposed to use the company's own funds to repurchase a portion of its issued ordinary shares (A-shares) [1] - The total amount for the buyback will not be less than RMB 10 million (including) and not exceed RMB 20 million (including) [1] Financial Details - The buyback price will not exceed 150% of the average trading price of the company's shares over the 30 trading days prior to the board's approval of the buyback resolution [1]

Group 1 - The stock market this year has shown a stark contrast, with AI stocks experiencing significant gains while traditional companies have not performed well [1] - Investors in traditional companies might have seen minimal losses or even small profits despite the market conditions [2] - In contrast, investors in companies facing severe issues, such as Qingyue Technology, have suffered substantial losses, with a single-day drop of 20% due to regulatory investigations [3] Group 2 - Qingyue Technology (stock code: 688496) faced a trading halt on November 3, following a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into false financial reporting [3] - The CSRC's investigation could lead to significant penalties, and if the company is found guilty of major violations, it may face mandatory delisting from the Shanghai Stock Exchange [3]

New Stock Issuance - Multiple new stock issuances are scheduled for November 4, 2025, across various companies, including ST Zhongdi (000609) and Pingtan Development (000592) which reported significant abnormal fluctuations[1] - Jiangbolong (301308) and Xiangnong Xinchuan (300475) are among the companies with recent announcements prior to November 4, 2025[1] Abnormal Fluctuations - Pingtan Development (000592) reported severe abnormal fluctuations on November 4, 2025, indicating potential volatility in its stock performance[1] - Other companies such as ST Panda (600599) and ST Huapeng (603021) also reported abnormal fluctuations on the same date, suggesting a trend of instability in the market[1] Market Trends - The report highlights a growing trend of companies experiencing abnormal stock price movements, which may indicate increased market volatility and investor caution[1] - The presence of multiple companies with abnormal fluctuations could signal a broader market trend that investors should monitor closely[1]

Core Viewpoint - Qingyue Technology (688496.SH) is currently facing a significant decline in stock price, with a drop of 10.91% and a market capitalization of 2.867 billion yuan, indicating a state of underperformance since its IPO [1] Group 1: Stock Performance - Qingyue Technology's stock closed at 6.37 yuan, marking a 10.91% decrease [1] - The stock is currently in a state of "broken issue," meaning it is trading below its initial public offering price [1] Group 2: IPO Details - Qingyue Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 28, 2022, with an initial offering of 90 million shares at a price of 9.16 yuan per share [1] - The total funds raised from the IPO amounted to 824.4 million yuan, with a net amount of 734.95 million yuan after deducting issuance costs, which exceeded the original plan by 334.95 million yuan [1] Group 3: Fund Utilization - The company intended to use the raised funds for a silicon-based OLED display production line upgrade project, the establishment of a cutting-edge ultra-low power display and drive technology research center, and to supplement working capital [1] - The total issuance costs for the IPO were 89.4453 million yuan (excluding VAT), with underwriting and sponsorship fees accounting for 62.6544 million yuan [1]

Core Viewpoint - Suzhou Qingyue Optoelectronics Technology Co., Ltd. has established a virtuous cycle of governance optimization and value creation by enhancing the management of "key minority" responsibilities, improving investor returns, and deepening investor communication in the context of stricter capital market regulations and improved quality of listed companies [1] Group 1: Governance Optimization - The company has strengthened the responsibility of the "key minority" by integrating management interests with shareholder interests through institutional construction and innovative assessment mechanisms [1] - A performance-based compensation assessment system has been implemented, along with an equity incentive plan that binds the interests of the core team to the company's long-term development [1] - In 2025, the company completed five training sessions for directors and senior management on capital market regulations, ESG governance, and cutting-edge technology trends [1][2] Group 2: Enhancing Investor Returns - The company adheres to the core philosophy of "investor-centric" by driving shareholder rights through cash dividends and share buybacks [3] - Since its listing in December 2022, the company has implemented its first dividend of 29.7 million yuan, accounting for 53.32% of the 2022 net profit [3] - A share buyback plan was approved in August 2024, with a total of 0.38% of the company's total share capital repurchased at an average price of 9.52 yuan per share [3] Group 3: Deepening Investor Communication - The company has established a multi-channel, regular communication mechanism to build trust with the capital market [4] - In the first half of 2025, the company responded to 55 investor inquiries through the Shanghai Stock Exchange's interactive platform and held one performance briefing [4] - The company aims to become a "globally leading provider of IoT display solutions" by solidifying its development foundation through standardized operations and expanding growth through innovation [4]

Core Viewpoint - Suzhou Qingyue Optoelectronics Technology Co., Ltd. (Qingyue Technology, 688496.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false reporting of financial data, which may lead to significant legal consequences including potential delisting from the Shanghai Stock Exchange [1][1][1] Company Summary - Qingyue Technology received a notice from the CSRC regarding the investigation, citing violations of the Securities Law and Administrative Penalty Law of the People's Republic of China [1][1][1] - The company stated that if the CSRC's findings result in administrative penalties that meet the criteria for mandatory delisting under the Shanghai Stock Exchange's rules, the company's stock may face significant delisting risks [1][1][1] - Despite the ongoing investigation, Qingyue Technology reported that its operational management, business, and financial status remain normal [1][1][1] Shareholder Summary - As of the third quarter report, Minsheng Jianyin Growth Mixed Fund is the largest shareholder, holding 3.19592 million shares, which accounts for 1.34% of the company's circulating shares [1][1][1] - Penghua Preferred Growth Mixed Fund is the second-largest shareholder, with 2.16542 million shares, representing 0.91% of the circulating shares [1][1][1]