Core Viewpoint - The company, Yuanjie Technology, plans to accelerate its international strategy and enhance its brand image by issuing H-shares and listing on the Hong Kong Stock Exchange [1][3]. Group 1: Company Overview - Yuanjie Technology focuses on the optical chip industry, specializing in the research, design, production, and sales of optical chips, which are primarily used in telecommunications, data centers, and automotive LiDAR markets [1]. - The company has established a comprehensive IDM (Integrated Device Manufacturer) business model, covering all processes from chip design to wafer manufacturing and testing, with multiple self-controlled production lines [1]. Group 2: Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 383 million yuan, a year-on-year increase of 115.09%, and a net profit of 106 million yuan, marking a turnaround from losses [2]. - In the third quarter of 2025, the company reported a revenue of 178 million yuan, a year-on-year increase of 207.31% and a quarter-on-quarter increase of 47.90%, with a net profit of approximately 59.64 million yuan [2]. - The growth in revenue is attributed to the increasing volume of CW silicon optical source products in the data center market and a significant rise in the high-margin data center segment [2]. Group 3: Future Outlook - The company is enhancing equipment investments and expects production capacity to gradually increase from the end of this year to next year [2]. - The telecommunications market is cyclical, but with the implementation of 50GPON technology, significant changes in demand are anticipated in the coming years, and the company is actively preparing to support this industry development [2]. Group 4: H-Share Listing Preparation - The board of directors has authorized the management to initiate preparations for the H-share listing, with a timeframe of 12 months from the board's approval [3]. - The company plans to discuss the specific progress of the H-share listing with relevant intermediaries and must obtain approvals from regulatory bodies, including the China Securities Regulatory Commission and the Hong Kong Stock Exchange [3]. - The success of the H-share listing is subject to uncertainties related to the approval processes [3].

Market Overview - The net outflow of main funds in the Shanghai and Shenzhen markets reached 40.955 billion yuan, with the Sci-Tech Innovation Board experiencing a net outflow of 5.791 billion yuan [1] - A total of 178 stocks saw net inflows, while 415 stocks experienced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 93 stocks rose, while 496 stocks fell, with one stock, He Xin Instrument, hitting the daily limit down [1] - C Hengkun, listed for 5 days, had a significant drop of 2.44% [1] Fund Flow Analysis - Among the 178 stocks with net inflows, five stocks had inflows exceeding 100 million yuan, led by Yuanjie Technology with a net inflow of 316 million yuan [2] - Other notable inflows included Changguang Huaxin and Yingshi Innovation, with net inflows of 144 million yuan and 113 million yuan, respectively [2] Continuous Fund Flow - 46 stocks showed continuous net inflows for more than three trading days, with Weigao Orthopedics leading at 10 consecutive days of inflow [2] - Conversely, 202 stocks experienced continuous net outflows, with Zhixiang Jintai leading at 17 consecutive days of outflow [2] Top Fund Inflows - The top stocks by net inflow included: - Yuanjie Technology: 315.73 million yuan, 10.22% inflow rate, 3.56% increase [2] - Changguang Huaxin: 144.31 million yuan, 11.14% inflow rate, 2.00% increase [2] - Yingshi Innovation: 113.72 million yuan, 21.35% inflow rate, 4.26% increase [2] Notable Outflows - The stocks with the highest net outflows included: - SMIC: 800.2 million yuan, 1.42% decrease [1] - Baiwei Storage: 344 million yuan outflow [1] - Guodun Quantum: 263 million yuan outflow [1]

源杰科技(688498)11月19日晚公告，为加快公司国际化战略及海外业务布局，进一步提升公司品牌形象 及知名度，提高公司的资本实力和综合竞争力，根据公司总体发展战略及运营需要，公司拟在境外发行 股份（H股）并在香港联交所上市（以下简称"本次H股上市"）。 2025年前三季度公司实现营业收入3.83亿元，同比增加115.09%；实现归属于上市公司股东的净利润 1.06亿元，同比扭亏为盈。2025年第三季度实现营业收入1.78亿元，同比增加207.31%，环比增加 47.90%，实现归属于上市公司股东的净利润5963.89万元。主要系数据中心市场的CW硅光光源产品逐步 放量，公司营业收入同比增加，且高毛利率的数据中心板块业务大幅增加，产品结构进一步优化，利润 总额及净利润增加所致。 源杰科技在日前召开的2025年第三季度业绩交流会上介绍，公司持续加强设备投入，综合设备交付节奏 以及调试等因素，预计产能将从今年年底至明年逐步成长。电信市场有一定的周期性，但预计未来几年 随着50GPON技术落地，需求侧可能有很大的变化，公司已积极完成相关布局，并将顺应产业发展，为 客户提供有力支持。 在11月19日晚的最新公告中， ...

Core Insights - The average stock price of A-shares is 13.75 yuan, with 150 stocks priced over 100 yuan, indicating market interest in high-priced stocks [1] - The Shanghai Composite Index closed at 3946.74 points, up 0.18%, while stocks over 100 yuan averaged a decline of 0.56%, underperforming the index by 0.74 percentage points [1] - In the past month, stocks priced over 100 yuan have seen an average increase of 5.91%, outperforming the Shanghai Composite Index's 2.79% increase [2] Stock Performance - The highest closing price among stocks over 100 yuan is Kweichow Moutai at 1471.01 yuan, down 0.34% [1] - Other notable high-priced stocks include Cambricon Technologies at 1332.00 yuan and Yuanjie Technology at 573.43 yuan [1] - Among the 150 stocks over 100 yuan, 44 stocks increased in price today, with the largest gainers being LianTe Technology and Spring Power [1] Industry Distribution - The electronics sector has the highest representation among stocks over 100 yuan, with 56 stocks, accounting for 37.33% of the total [2] - Other significant sectors include computer and power equipment, with 18 and 15 stocks respectively [2] - The majority of high-priced stocks are listed on the ChiNext board, with 49 stocks, while the main board has 31 stocks [2] Institutional Ratings - Four stocks priced over 100 yuan received "buy" ratings from institutions today, including Yuanjie Technology and Mindray Medical [2]

Core Points - The average stock price of the Sci-Tech Innovation Board is 39.40 yuan, with 67 stocks priced over 100 yuan, and the highest priced stock is Cambrian-U at 1332.00 yuan [1][2] - Today, 93 stocks increased in price while 496 stocks decreased, with the average decline for stocks over 100 yuan being 1.05% [1][2] - The premium of the latest closing price relative to the issue price for stocks over 100 yuan averages 490.19%, with the highest premiums seen in companies like Shangwei New Materials and Cambrian-U [1][2] Industry Summary - The industries with the highest concentration of stocks priced over 100 yuan include electronics (33 stocks), pharmaceuticals (9 stocks), and computers (9 stocks) [2] - The net outflow of main funds from stocks over 100 yuan today totaled 2.425 billion yuan, with significant inflows into companies like Source Technology and Ying Shi Innovation [2] - The total margin balance for stocks over 100 yuan is 92.626 billion yuan, with Cambrian-U and SMIC having the highest margin balances [2][3]

来源：新浪港股-好仓工作室 点击查看公告原文>> 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 陕西源杰半导体科技股份有限公司（证券简称：源杰科技，证券代码：688498）于2025年11月20日发布 公告称，公司于2025年11月19日召开第二届董事会第二十四次会议，审议通过了《关于授权公司管理层 启动公司境外发行股份(H股)并在香港联合交易所有限公司上市相关筹备工作的议案》，同意授权公司 管理层在自董事会审议通过之日起12个月内启动本次H股上市的前期筹备工作；本次H股上市旨在加快 公司国际化战略及海外业务布局，进一步提升公司品牌形象及知名度，提高公司的资本实力和综合竞争 力，公司计划与相关中介机构就本次H股上市的具体推进工作进行商讨，但除本 ...

根据《境内企业境外发行证券和上市管理试行办法》《上海证券交易所科创 板股票上市规则》等法律法规、规范性文件的有关规定，本次 H 股上市事项尚需 提交公司董事会和股东会审议，并需取得中国证券监督管理委员会、香港联交所 和香港证券及期货事务监察委员会等相关政府机构、监管机构的备案或审核批准。 证券代码：688498 证券简称：源杰科技 公告编号：2025-066 陕西源杰半导体科技股份有限公司 关于授权公司管理层启动公司境外发行股份（H 股） 并在香港联合交易所有限公司上市相关筹备工作的 提示性公告 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。 陕西源杰半导体科技股份有限公司（以下简称"公司"）于 2025 年 11 月 19 日召开第二届董事会第二十四次会议，审议通过了《关于授权公司管理层启动公 司境外发行股份（H 股）并在香港联合交易所有限公司上市相关筹备工作的议案》。 现将相关情况公告如下： 为加快公司国际化战略及海外业务布局，进一步提升公司品牌形象及知名度， 提高公司的资本实力和综合竞争力，根据公司总体发展战略及运营 ...

证券代码：688498 证券简称：源杰科技 公告编号：2025-067 陕西源杰半导体科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 27 日（星期四）11:00-12:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 会议召开时间：2025 年 11 月 27 日（星期四）11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 20 日（星期四）至 11 月 26 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@yj-semitech.com 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回 ...

源杰科技(688498.SH)公告，公司董事会审议通过了《关于授权公司管理层启动公司境外发行股份(H股) 并在香港联合交易所有限公司上市相关筹备工作的议案》。公司拟在境外发行股份(H股)并在中国香港 联合交易所有限公司上市。 ...

源杰科技公告称，2025年11月19日公司召开第二届董事会第二十四次会议，审议通过授权管理层启动境 外发行股份（H股）并在香港联交所上市相关筹备工作的议案，授权期限12个月。公司拟通过本次H股 上市加快国际化战略及海外业务布局。目前除已审议议案外，具体细节未确定。本次上市尚需公司董事 会、股东会审议及相关政府、监管机构备案或审核批准，存在不确定性。 ...