Core Viewpoint - Hehui Optoelectronics is a leading domestic company focused on the research, production, and sales of high-resolution AMOLED panels, established in October 2012 [2] Company Overview - The company is recognized as a high-tech enterprise and has received honors such as the "Shanghai Intellectual Property Innovation Award" [2] - Hehui Optoelectronics operates two modern AMOLED production plants, the 4.5-generation and 6-generation plants, which began mass production of smartphone and wearable AMOLED semiconductor display panels in 2014 and 2015, respectively [2] - The company started mass production of its first tablet AMOLED semiconductor display panels in the second quarter of 2020 [2] Product Development - Hehui Optoelectronics continuously invests in new technology research and product innovation to produce a wider range of AMOLED display panels with higher specifications [2] - The company has developed over a hundred high-end rigid and flexible AMOLED display products for various applications, including smart wearables, smartphones, tablets, laptops, automotive, and aerospace [2] - The company has established stable supply relationships with numerous leading domestic and international brands [2]

Core Insights - The company emphasizes its commitment to independent research and innovation in AMOLED core technology, focusing on cutting-edge technology development and results transformation [2] Group 1: Technological Innovations - The company has applied several new technologies in its products, including Hybrid, Tandem, high-frequency PWM dimming, and 165Hz high refresh rate [2] - At CES 2025, the company showcased innovative products such as a 14-inch 2.8K Hybrid Tandem display, an 11.3-inch flexible LTPO Tandem display, and a 15.1-inch automotive Tandem display, which gained global attention [2] Group 2: Awards and Recognition - The company's 14-inch 2.8K 30~240Hz ultra-high dynamic refresh rate AMOLED display won the "13th China Electronic Information Expo Innovation Award" [2] - At the 2025 International (Shanghai) Display Technology and Application Innovation Exhibition, the company achieved notable success with one gold and four silver awards, including two 12.X-inch AMOLED tablet screens winning the "Display Application Innovation Gold Award" and "Display Device Innovation Silver Award" [2] - Other award-winning products include a 14.6-inch 3K primary color giant screen for laptops and a 14-inch 2.8K ultra-high dynamic refresh rate laptop screen, both receiving silver awards [2]

Core Viewpoint - Hehui Optoelectronics has made significant progress in its H-share listing application, which was recently accepted by the China Securities Regulatory Commission, and the company has submitted its application to the Hong Kong Stock Exchange for a mainboard listing, with CICC as the sole sponsor [1] Group 1: Financial Performance - Hehui Optoelectronics has reported continuous losses since its A-share listing in 2021, with a cumulative loss exceeding 135 billion yuan since 2017, including a total loss of 96.79 billion yuan from 2021 to the third quarter of 2025 [2][4] - The company's stock price has declined significantly since its peak on the first day of trading at 5.14 yuan per share, with the latest price nearly halving [2] Group 2: Industry Comparison - Compared to industry leaders BOE Technology Group and TCL Technology, which have reported cumulative profits of 638 billion yuan and 302 billion yuan respectively since 2017, Hehui Optoelectronics has struggled to achieve profitability [4] Group 3: Production Challenges - The sixth-generation AMOLED production line expansion project has faced multiple delays, with the completion date pushed from the end of 2023 to September 2026, impacting the company's ability to increase production capacity from 30K/month to 45K/month [6] - The project has a total investment of 6.5 billion yuan, with only part of the capacity having been realized so far, leading to negative overall gross margins and a competitive disadvantage in the high-end AMOLED market [6] Group 4: Human Resources and Shareholder Actions - The company has experienced the departure of key technical personnel, including two core members in 2025, which raises concerns about its operational capabilities [7] - Significant share reductions have occurred, with major shareholders and executives selling off shares, including a notable reduction by the Shanghai Integrated Circuit Industry Investment Fund, which sold 199 million shares, representing 1.45% of the total shares [7]

● 大股东持有股份的基本情况 本次减持计划实施前，上海和辉光电股份有限公司（以下简称"公司"）的非第一大股东上海集成电路产 业投资基金股份有限公司（以下简称"集成电路基金"）持有公司股份1,534,160,240股，占公司总股本 11.11%，股份来源均为公司首次公开发行前取得的股份，并已于2022年5月30日解除限售并上市流通。 证券代码：688538 证券简称：和辉光电 公告编号：2025-056 上海和辉光电股份有限公司 关于持股5%以上股东减持计划时间届满暨减持股份结果公告 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： 二、减持计划的实施结果 ● 减持计划的实施结果情况 公司于2025年8月28日在上海证券交易所网站（www.sse.com.cn）披露了《上海和辉光电股份有限公司 关于持股5%以上股东大宗交易减持股份计划公告》（公告编号：2025-045）。集成电路基金计划通过 大宗交易的方式减持其持有的公司股份数量合计不超过276,188,752股，合计减持比例不超过公司总股本 的2. ...

（编辑 任世碧） 证券日报网讯 12月18日晚间，和辉光电发布公告称，本次减持计划实施前，公司的非第一大股东上海 集成电路产业投资基金股份有限公司（简称"集成电路基金"）持有公司股份1，534，160，240股，占公 司总股本11.11%。在上述减持期间内（2025年9月18日至2025年12月17日），集成电路基金通过大宗交 易方式累计减持公司股票199，716，478股，占公司股份总额的1.45%，减持后持有公司股票1，334， 443，762股，当前持股比例为9.66%。本次减持计划时间已届满。 ...

Core Viewpoint - The company, Hehui Optoelectronics (688538.SH), has received a notification from its non-major shareholder, the Integrated Circuit Fund, regarding a stock reduction plan that has been completed [1] Group 1 - The Integrated Circuit Fund has reduced its holdings in the company by a total of 200 million shares through block trading, which accounts for 1.45% of the company's total shares [1] - After the reduction, the Integrated Circuit Fund's current holding percentage is 9.66% [1] - The reduction plan has reached its deadline [1]

证券代码：688538 证券简称：和辉光电 公告编号：2025-056 公司近日收到公司非第一大股东集成电路基金发来的《股东减持本公司股票 告知书》。现将有关减持结果情况公告如下： 上海和辉光电股份有限公司 关于持股 5%以上股东减持计划时间届满 暨减持股份结果公告 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： 大股东持有股份的基本情况 本次减持计划实施前，上海和辉光电股份有限公司（以下简称"公司"）的 非第一大股东上海集成电路产业投资基金股份有限公司（以下简称"集成电路基 金"）持有公司股份 1,534,160,240 股，占公司总股本 11.11%，股份来源均为公 司首次公开发行前取得的股份，并已于 2022 年 5 月 30 日解除限售并上市流通。 减持计划的实施结果情况 公司于 2025 年 8 月 28 日在上海证券交易所网站（www.sse.com.cn）披露了 《上海和辉光电股份有限公司关于持股 5%以上股东大宗交易减持股份计划公告》 （公告编号：2025-045）。集成电路基金 ...

证券时报·数据宝统计显示，和辉光电-U今日收盘价为2.62元，下跌0.76%，日换手率为1.11%，成交额 为1.67亿元，全天主力资金净流出1233.86万元，近5日该股累计下跌1.13%，近5日资金合计净流出 1872.05万元。 | 成交量 （万 | 成交金 额（万 | 成交价 格 | 相对当日收盘 折溢价（%） | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | | | | | 650.00 | 1690.00 | 2.60 | -0.76 | 机构专用 | 国泰海通证券股份有限公司上 海静安区北京西路证券营业部 | | 650.00 | 1690.00 | 2.60 | -0.76 | 浙商证券股份有限公司 | 国泰海通证券股份有限公司上 | | | | | | 上海长乐路证券营业部 | 海静安区北京西路证券营业部 | 和辉光电-U12月17日大宗交易平台共发生2笔成交，合计成交量1300.00万股，成交金额3380.00万元。 成交价格均为2.60元，相对今日收盘价折价0.76%。从参与大宗交易营业部来 ...

Group 1 - The core point of the news is that Hehui Optoelectronics conducted a block trade of 13 million shares on December 17, with a transaction amount of 33.8 million yuan, accounting for 16.85% of the total transaction volume for that day [1] - The transaction price was 2.6 yuan, which represents a discount of 0.76% compared to the market closing price of 2.62 yuan [1] Group 2 - The block trade involved a total volume of 13 million shares, indicating significant trading activity for Hehui Optoelectronics [2] - The transaction was executed by institutional investors, highlighting interest from larger market players [2]

8只科创板股大宗交易平台发生交易，合计成交1.21亿元。 证券时报·数据宝统计显示，12月16日共有8只科创板股发生大宗交易，合计成交15笔，累计成交量 1369.19万股，成交额合计1.21亿元。 统计显示，成交金额最多的是和辉光电，共有2笔大宗交易，合计成交量为1250.00万股，成交金额合计 3275.00万元；其次是中邮科技、华海清科，大宗交易金额分别为2910.00万元、2498.65万元。 | 代码 | 简称 | 成交笔 | 大宗交易数量 | 平均成交价格 | | 相对收盘价折溢价 | 大宗交易金额 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 数 | （万股） | （元） | | （%） | （万元） | | 688538 | 和辉光 电 | 2 | 1250.00 | 2.62 | -0.76 | | 3275.00 | | 688648 | 中邮科 技 | 2 | 60.00 | 48.50 | -12.94 | | 2910.00 | | 688120 | 华海清 科 | 6 | 17.30 | 144.43 | -6. ...