Summary of Key Points Core Viewpoint - The stock price of Hehui Optoelectronics (688538) has decreased by 0.84% to 2.36 yuan as of June 27, 2025, with a total market capitalization of 32.59 billion yuan, ranking 5th in the optical and optoelectronic sector and 444th among all A-shares [1]. Company Announcements - Hehui Optoelectronics held a meeting on June 23, 2025, where it approved changes to its registered capital and amendments to its Articles of Association, reducing the total share capital from 13,832,003,883 shares to 13,809,437,625 shares, and the registered capital from 13.83 billion yuan to 13.81 billion yuan [1][3]. - The company announced that several directors and senior executives plan to reduce their holdings by a total of no more than 351,600 shares, which represents up to 0.0025% of the total share capital, with the reduction period set from July 16, 2025, to October 15, 2025 [1][3].

Core Viewpoint - Hehui Optoelectronics (688538.SH) announced a plan for share reduction by several directors and senior management due to personal financial needs, with a total reduction not exceeding 351,600 shares, representing a maximum of 0.0025% of the company's total share capital [1] Group 1: Shareholding and Reduction Plans - Liu Huiran, the general manager, holds 463,000 shares (0.0034% of total shares) and plans to reduce holdings by up to 115,700 shares (0.0008%) [2] - Chen Zhihong, the deputy general manager, holds 364,289 shares (0.0026% of total shares) and plans to reduce holdings by up to 91,000 shares (0.0007%) [2] - Li Fengling, the chief accountant and board secretary, holds 315,000 shares (0.0023% of total shares) and plans to reduce holdings by up to 78,700 shares (0.0006%) [3] - Zhang Bin, another deputy general manager, holds 265,000 shares (0.0019% of total shares) and plans to reduce holdings by up to 66,200 shares (0.0005%) [3] Group 2: Company Background and Financials - Hehui Optoelectronics was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on May 28, 2021, with an initial highest price of 5.14 yuan, but the stock is currently in a state of decline [3] - The final number of shares issued during the IPO was 3,083,660,725 shares at a price of 2.65 yuan per share, raising a total of approximately 8.17 billion yuan, with a net amount of about 8.00 billion yuan after expenses [4] - The actual net fundraising amount was 1.998 billion yuan less than the originally planned 10 billion yuan, which was intended for expanding the sixth-generation AMOLED production line and supplementing working capital [4]

Core Viewpoint - The announcement details a share reduction plan by certain directors and senior management of Shanghai Hehui Optoelectronics Co., Ltd. due to personal financial needs, with a total reduction not exceeding 25% of their holdings [1][4]. Summary by Relevant Sections Shareholding Information - As of the announcement date, the shareholdings of key individuals are as follows: - Liu Huiran: 463,000 shares, 0.0034% of total shares - Chen Zhihong: 364,289 shares, 0.0026% of total shares - Li Fengling: 315,000 shares, 0.0023% of total shares - Zhang Bin: 265,000 shares, 0.0019% of total shares - All shares held by these individuals were acquired through centralized bidding and are unrestricted tradable shares [1][2][4]. Reduction Plan Details - The reduction plan includes: - Liu Huiran: up to 115,700 shares (0.0008%) - Chen Zhihong: up to 91,000 shares (0.0007%) - Li Fengling: up to 78,700 shares (0.0006%) - Zhang Bin: up to 66,200 shares (0.0005%) - The reduction will occur through centralized bidding from July 16, 2025, to October 15, 2025 [4][5].

证券代码：688538 证券简称：和辉光电 公告编号：2025-034 上海和辉光电股份有限公司 关于部分董事、高级管理人员减持股份计划的公告 本公司董事会、全体董事及相关股东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： 董事、高级管理人员持股的基本情况 截至本公告披露日，上海和辉光电股份有限公司（以下简称"公司"）董事、 总经理刘惠然先生持有公司股份 463,000 股，占公司当前总股本的 0.0034%；公 司副总经理陈志宏先生持有公司股份 364,289 股，占公司当前总股本的 0.0026%； 公司总会计师、董事会秘书李凤玲女士持有公司股份 315,000 股，占公司当前总 股本的 0.0023%；公司副总经理张斌先生持有公司股份 265,000 股，占公司当前 总股本的 0.0019%。上述董事、高级管理人员持有的公司股份来源均为集中竞价 取得的股份，为无限售流通股。 减持计划的主要内容 因个人资金需求，刘惠然先生、陈志宏先生、李凤玲女士、张斌先生计划通 过集中竞价交易方式减持其所直接持有的公司股份，合计减持股份总 ...

上海和辉光电股份有限公司 章 程 2025 年 6 月 | | | | 第一章 | 总 则 | 1 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 3 | | 第三章 | 股份 | 3 | | 第一节 | 股份发行 | 3 | | 第二节 | 股份增减和回购 | 4 | | 第三节 | 股份转让 | 5 | | 第四章 | 股东和股东会 | 6 | | 第一节 | 股东的一般规定 | 6 | | 第二节 | 控股股东和实际控制人 | 9 | | 第三节 | 股东会的一般规定 | 10 | | 第四节 | 股东会的召集 | 13 | | 第五节 | 股东会的提案与通知 | 14 | | 第六节 | 股东会的召开 | 16 | | 第七节 | 股东会的表决和决议 | 19 | | 第五章 | 董事和董事会 | 24 | | 第一节 | 董事的一般规定 | 24 | | 第二节 | 董事会 | 28 | | 第三节 | 独立董事 | 34 | | 第六章 | 高级管理人员 | 37 | | 第七章 | 监事会 | 39 | | 第一节 | 监事 | 39 | | 第二节 | 监事会 ...

证券代码：688538 证券简称：和辉光电 公告编号：2025-033 上海和辉光电股份有限公司 关于变更注册资本、修订《公司章程》并办理工商变 更登记的公告 二、修订《公司章程》的情况 鉴于上述变动，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司章程指引》《上海证券交易所科创板股票上市规则》等法律法规、规 范性文件的规定，结合公司实际情况，公司董事会对《上海和辉光电股份有限公 司章程》（以下简称"《公司章程》"）的相关条款进行修订，具体修订情况如下： | 序号 | | | | 修订前 | | | | | | | | | 修订后 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 第六条 | | 公司注册资本为人民币 | | | | | | 第六条 | | | | | 公司注册资本为人民币 | | | | 13,832,003,883 | | 元。 | | | | | | | 13,809,437,625 | | | 元。 | ...

Core Insights - Flexible display technology is revolutionizing the display industry by enabling devices to be curved, folded, and rolled, breaking the traditional rigid display limitations [1][17] - The global flexible display market is projected to grow from $23.2 billion in 2024 to over $173 billion by 2031, driven by advancements in 5G, AI, and VR technologies [1][17] - The flexible OLED segment is expected to see significant growth, with global shipments estimated at approximately 617 million units in 2024, reflecting a year-on-year increase of 21.5% [21] Industry Overview - Flexible displays are made from soft materials and are characterized by low energy consumption, lightweight, durability, and shape variability [2][7] - The main types of flexible displays include bendable, foldable, rollable, and stretchable displays, with bendable and foldable displays already seeing large-scale applications in consumer electronics [2][4] Technology Landscape - The leading technology for flexible displays is flexible OLED, known for its high contrast, wide viewing angles, and rapid response times [4][6] - Other technologies include flexible LCD, electronic paper, quantum dot LEDs, and Micro-LEDs, with flexible OLED being the most widely adopted [4][6] Market Dynamics - The Asia-Pacific region dominates the flexible display market, accounting for over 65% of the global market share, with China, South Korea, and Japan as key contributors [17] - The flexible AMOLED market share in smartphones is expected to rise from 28% in 2022 to 40% in 2024, driven by the demand for high-end smartphone models [19][21] Competitive Landscape - Samsung is the leading global supplier of flexible OLED displays, while BOE Technology Group is the largest producer in China, having broken the international monopoly in 2017 [23] - Chinese companies like BOE, Visionox, Tianma, and TCL Huaxing have made significant technological advancements, enhancing their competitiveness and gradually reducing Samsung's market dominance [23]

证券代码：688538 证券简称：和辉光电 公告编号：2025-032 上海和辉光电股份有限公司 关于限制性股票回购注销实施的公告 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： 回购注销原因：根据上海和辉光电股份有限公司（以下简称"公司"）《2021 年限制性股票激励计划》《2021年限制性股票激励计划实施考核管理办法》的相 关规定，公司决定对464名激励对象已获授但尚未解除限售的22,566,258股限制 性股票予以回购注销。 2025 年 3 月 27 日，公司召开第二届董事会第十二次会议、第二届监事会第 十次会议，分别审议通过了《关于回购注销限制性股票的议案》，公司独立董事 专门会议发表了同意的意见，监事会对相关事项进行核实并出具了同意的监事会 意见，北京市中伦（上海）律师事务所出具了法律意见书。具体内容详见公司于 2025 年 3 月 29 日在上海证券交易所网站（www.sse.com.cn）披露的《上海和辉 光电股份有限公司关于回购注销限制性股票的公告》（公告编号：2025-016）。 202 ...

ZHONG LUN 中倫律師事務所 殊的普通合伙 Limited Liability Partnership 北京市中伦(上海)律师事务所 关于 上海和辉光电股份有限公司 2021 年限制性股票激励计划回购注销限制性股票 实施情况的法律意见书 二〇二五年六月 深圳 · 广州 · 武汉 · 成都 · 重庆 · 青岛 · 杭州 · 南京 · 海口 · 东京 · 香港 · 伦敦 · 洛杉矶, 北京市中伦(上海)律师事务所 关于 上海和辉光电股份有限公司 2021 年限制性股票激励计划回购注销限制性股票 实施情况的法律意见书 致:上海和辉光电股份有限公司 根据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民共和国证 券法》(以下简称"《证券法》")、《上市公司股权激励管理办法》(以下简称"《管理 办法》")、《上海证券交易所科创板股票上市规则》《科创板上市公司自律监管指南 第 4 号 -- 股权激励信息披露》《国有控股上市公司(境内)实施股权激励试行办 法》(国资发分配〔2006〕175 号)、《关于规范国有控股上市公司实施股权激励制 度有关问题的通知》(国资发分配(2008)171 号)、《关于本市国 ...

Group 1 - The core viewpoint of the articles highlights the increasing trend of A-share companies, particularly in the semiconductor sector, pursuing dual listings in Hong Kong, driven by favorable regulatory policies and the need for global expansion [1][6][8] - The "A+H model" allows companies to access both domestic and international capital markets, enhancing their financial strength and market recognition [6][8] - Several semiconductor companies, including Zhaoyi Innovation, Unisoc, and others, have announced plans for Hong Kong listings, indicating a significant shift towards internationalization [2][4][5] Group 2 - The semiconductor companies aim to strengthen their global presence, with many explicitly stating that their Hong Kong listings are part of a strategy to enhance their international business operations and competitiveness [6][7] - The funds raised from these listings are primarily targeted at improving core technology capabilities, expanding product lines, and enhancing overseas sales networks [6][7] - Recent regulatory changes, such as the "Five Measures to Benefit Hong Kong" policy and adjustments to listing requirements, have made it easier for A-share companies to pursue dual listings in Hong Kong [7][8]