Group 1 - The company, Huafeng Technology (688629.SH), focuses on the research, production, and sales of optical and electrical connectors and cable components, which are widely used in defense and aerospace, communications, automotive, rail transportation, and industrial sectors [2] - The company's overseas revenue proportion is currently low, and specific details can be found in the company's regular reports [2]

Group 1 - The core viewpoint of the news is the performance and financial metrics of Sichuan Huafeng Technology Co., Ltd., which saw a stock price increase of 5.02% to 107.67 CNY per share, with a total market capitalization of 49.635 billion CNY [1] - The company specializes in the research, production, and sales of optical and electrical connectors and cable components, with its main business revenue composition being: components 61.65%, connectors 29.83%, system interconnection products 5.90%, other supporting components 1.68%, and others 0.94% [1] Group 2 - From the perspective of fund holdings, China Life Asset Management's fund holds a significant position in Huafeng Technology, with the fund "China Life Asset Management Preferred State-Owned Enterprises Stock Initiation A" (019765) reducing its holdings by 7,000 shares to a total of 9,000 shares, representing 4.99% of the fund's net value [2] - The fund has a total scale of 16.9585 million CNY and has achieved a year-to-date return of 6.74%, ranking 1849 out of 5520 in its category, and a one-year return of 45.48%, ranking 1844 out of 4203 [2]

Group 1 - The core point of the news is that Huafeng Technology's stock price increased by 5.21% to 111.58 CNY per share, with a trading volume of 1.634 billion CNY and a turnover rate of 8.34%, resulting in a total market capitalization of 51.438 billion CNY [1] - Huafeng Technology, established on November 21, 1994, is located in Mianyang, Sichuan Province, and specializes in the research, production, and sales of optical and electrical connectors and cable components, providing system solutions to customers [1] - The company's main business revenue composition includes components (61.65%), connectors (29.83%), system interconnection products (5.90%), other supporting components (1.68%), and others (0.94%) [1] Group 2 - From the perspective of major fund holdings, one fund under Chuangjin Hexin has a significant position in Huafeng Technology, with the Chuangjin Hexin Technology Growth Stock A (005495) reducing its holdings by 101,300 shares in the third quarter, now holding 112,900 shares, accounting for 4.64% of the fund's net value, ranking as the sixth-largest holding [2] - The Chuangjin Hexin Technology Growth Stock A (005495) was established on December 28, 2017, with a current scale of 155 million CNY, achieving a year-to-date return of 7.65% and a one-year return of 31.27%, ranking 1117 out of 5580 and 2615 out of 4203 in its category, respectively [2] - The fund manager of Chuangjin Hexin Technology Growth Stock A is Zhou Zhimin, who has been in the position for 8 years and 18 days, with the fund's total asset scale at 23.9 million CNY, achieving the best return of 114.45% and the worst return of -37.88% during his tenure [3]

Core Viewpoint - Huafeng Technology has shown significant stock performance and financial growth, with a notable increase in revenue and net profit year-on-year, indicating strong market positioning and investor interest [1][2]. Group 1: Stock Performance - On January 9, Huafeng Technology's stock rose by 2.01%, reaching 106.55 CNY per share, with a trading volume of 402 million CNY and a turnover rate of 2.13%, resulting in a total market capitalization of 49.12 billion CNY [1]. - The stock has increased by 6.49% year-to-date, with a 25.60% rise over the past 20 days and a 24.16% increase over the past 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Huafeng Technology reported a revenue of 1.659 billion CNY, representing a year-on-year growth of 121.47%, and a net profit attributable to shareholders of 223 million CNY, which is a 558.51% increase year-on-year [2]. Group 3: Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders for Huafeng Technology increased by 37.52% to 30,600, while the average number of circulating shares per person decreased by 27.28% to 5,942 shares [2]. - The company has distributed a total of 23.05 million CNY in dividends since its A-share listing [3]. - Notable institutional shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 6.1123 million shares, and several new funds entering the top ten shareholders list [3].

Group 1 - The core point of the news is that Huafeng Technology's stock has increased by 5.35%, reaching a price of 108.30 CNY per share, with a trading volume of 2.128 billion CNY and a turnover rate of 11.44%, resulting in a total market capitalization of 49.926 billion CNY [1] - Huafeng Technology, established on November 21, 1994, is located in Mianyang, Sichuan Province, and specializes in the research, production, and sales of optical and electrical connectors and cable components, providing system solutions to customers [1] - The company's main business revenue composition includes components (61.65%), connectors (29.83%), system interconnection products (5.90%), other supporting components (1.68%), and others (0.94%) [1] Group 2 - From the perspective of major fund holdings, E Fund has one fund heavily invested in Huafeng Technology, specifically the E Fund Science and Technology Innovation Board Two-Year Open Mixed Fund (506002), which held 649,300 shares, accounting for 3.56% of the fund's net value, ranking as the seventh-largest holding [2] - The E Fund Science and Technology Innovation Board Two-Year Open Mixed Fund (506002) was established on July 28, 2020, with a current scale of 1.793 billion CNY, yielding 4% this year, ranking 558 out of 8,818 in its category; it has achieved an annual return of 82.29%, ranking 397 out of 8,083, and a cumulative return of 69.17% since inception [2]

Investment Rating - The report recommends a positive investment outlook for the technology sector, specifically highlighting key stocks for January 2026 [6]. Core Insights - The report identifies several key companies within the technology sector, including Eastcompeace, Jincheng Electronics, Xinyi Technology, Tax Friend, Haiguang Information, Giant Network, and Perfect World, as potential investment opportunities [6][8][9][10][11][12][13][14]. Summary by Category Electronics - **Eastcompeace**: The company is entering a growth phase driven by AI technology breakthroughs, leading to increased capital expenditure from cloud vendors and a surge in demand for data servers. The acquisition of Solstice Optoelectronics enhances its position in optical communication [8]. - **Jincheng Electronics**: The company reported a revenue of 889 million yuan in Q3 2025, a year-on-year increase of 25.4%. The semiconductor business is expected to grow significantly, with an order backlog of approximately 1.791 billion yuan [9]. Communication - **Xinyi Technology**: As a leading manufacturer of high-speed optical modules, the company has made significant inroads with major clients like Amazon and is expected to see substantial profit growth from 2025 to 2027, with projected net profits of 94.97 million yuan, 166.16 million yuan, and 217.76 million yuan respectively [10]. - **Huafeng Technology**: The company is positioned to benefit from the high demand for AI applications and is expected to see net profits grow from 3.53 million yuan in 2025 to 8.73 million yuan by 2027 [10]. Computer - **Tax Friend**: The company is a leader in the financial IT sector, leveraging AI and big data to provide comprehensive solutions for businesses. It aims to enhance its product offerings and customer engagement through innovative AI-driven solutions [11]. - **Haiguang Information**: The company is a key player in the domestic high-end CPU market, expected to benefit from the growing demand for AI computing power. It aims to establish a comprehensive AI computing platform [12]. Media - **Giant Network**: The company is experiencing stable commercialization with new game releases and updates expected to drive user engagement and revenue growth [13]. - **Perfect World**: The company is preparing for the launch of its new game "Yihuan," which has shown strong pre-launch interest, and is also focusing on expanding its esports business [14].

申万宏源证券承销保荐有限责任公司 关于四川华丰科技股份有限公司 2025年度持续督导工作现场检查报告 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源"或"保荐机构"） 作为四川华丰科技股份有限公司（以下简称"华丰科技"或"公司"）首次公开发行 股票并在科创板上市及持续督导的保荐机构，持续督导期间为2023年6月27日至2026年 12月31日，根据《上海证券交易所科创板股票上市规则》和《上海证券交易所上市公 司自律监管指引第11号——持续督导》等有关规定，对公司2025年1月1日至本次现场 检查期间（以下简称"本持续督导期间"）的规范运作情况进行了现场检查，现就现 场检查的有关情况报告如下： 一、持续督导工作情况 （一）保荐机构 申万宏源证券承销保荐有限责任公司 1、 查看公司公司的主要生产、 经营、 管理场所； （二）保荐代表人 王鹏、黄学圣 （三）现场检查时间 2025年12月25日至2025年12月26日 （四）现场检查人员 王鹏 （五）现场检查内容 公司治理及内部控制、信息披露、独立性、与关联方的资金往来、募集资金使用 情况、关联交易、对外担保、重大对外投资、公司经营状况等。 （六）现场检查方法 ...

Core Points - The Sci-Tech Innovation Board (STAR Market) index rose by 0.04% to close at 1346.32 points, with a total trading volume of 4.33 billion shares and a turnover of 213.62 billion yuan, resulting in an average turnover rate of 2.22% [1] - Among the tradable stocks on the STAR Market, 245 stocks closed higher, with 8 stocks hitting the daily limit up, while 348 stocks closed lower [1] - The highest turnover rate was recorded by Aerospace Huanyu at 36.11%, which closed at a limit up with a trading volume of 1.69 billion yuan [1] Trading Performance - In the high turnover stocks, 50 stocks increased in value today, with Aerospace Huanyu, Ruisheng Technology, and Buke Co., Ltd. closing at the daily limit up [2] - The electronic industry had the most stocks with a turnover rate exceeding 5%, totaling 31 stocks, followed by machinery equipment and national defense industries [2] - Major net inflows were observed in stocks like Xinyuan Technology, Zhenlei Technology, and Huafeng Technology, with net inflows of 388 million yuan, 220 million yuan, and 179 million yuan respectively [2] Stock Data - Aerospace Huanyu (688523) closed at 52.87 yuan with a daily increase of 20.00% and a turnover rate of 36.11% [3] - C Jianxin (688805) closed at 47.16 yuan with a daily decrease of 7.26% and a turnover rate of 28.23% [3] - Other notable stocks include Yuxun Co., Ltd. (688807) with a turnover rate of 26.69% and a slight decrease of 1.42% [3] Fund Flow - A total of 68 stocks received net purchases from leveraged funds recently, with significant increases in financing balances for stocks like Changguang Huaxin and Xinyuan Technology, which saw increases of 506 million yuan and 294 million yuan respectively [2] - Conversely, stocks like Moer Thread and Yuke De experienced significant reductions in financing balances, decreasing by 217 million yuan and 7.4 million yuan respectively [2]

Market Overview - The Sci-Tech Innovation Board (STAR Market) index rose by 0.04%, closing at 1346.32 points, with a total trading volume of 4.33 billion shares and a turnover of 213.62 billion yuan, resulting in a weighted average turnover rate of 2.22% [1] - Among the tradable stocks on the STAR Market, 245 stocks closed higher, with 8 stocks experiencing a price increase of over 10%, including Ruishun Technology, Buke Co., and Shangwei New Materials, which all hit the daily limit [1] Turnover Rate Analysis - The distribution of turnover rates shows that 5 stocks had a turnover rate exceeding 20%, 17 stocks had a turnover rate between 10% and 20%, and 67 stocks had a turnover rate between 5% and 10% [1] - The stock with the highest turnover rate was Aerospace Huanyu, which closed at the daily limit with a turnover rate of 36.11% and a transaction amount of 1.694 billion yuan [1] Stock Performance - C Jianxin, a newly listed stock, saw a decline of 7.26% with a turnover rate of 28.23% and a net outflow of 65.09 million yuan [1][2] - Among the high turnover stocks, 50 stocks increased in value today, with Aerospace Huanyu, Ruishun Technology, and Buke Co. closing at the daily limit, while Huasheng Lithium Battery and C Jianxin experienced significant declines [2] Sector Performance - In terms of industry distribution, the electronics sector had the highest number of stocks with a turnover rate exceeding 5%, totaling 31 stocks, followed by machinery equipment and national defense industries with 12 and 11 stocks, respectively [2] Capital Flow - A total of 46 high turnover stocks experienced net inflows of main funds, with the highest net inflows recorded for Xinyuan Technology, Zhenlei Technology, and Huafeng Technology, amounting to 388 million yuan, 220 million yuan, and 179 million yuan, respectively [2] - Conversely, stocks with significant net outflows included Shijia Photon, Changguang Huaxin, and Rongbai Technology, with net outflows of 368 million yuan, 345 million yuan, and 340 million yuan, respectively [2] Recent Stock Data - The top stocks by turnover rate on December 29 include: - Aerospace Huanyu: closing price 52.87 yuan, daily increase 20.00%, turnover rate 36.11%, net inflow 69.85 million yuan [3] - C Jianxin: closing price 47.16 yuan, daily decrease 7.26%, turnover rate 28.23%, net outflow 65.09 million yuan [3] - Yuxun Co.: closing price 195.00 yuan, daily decrease 1.42%, turnover rate 26.69%, net inflow 46.15 million yuan [3]

Core Viewpoint - Huafeng Technology announced the election of Ms. Zhang Cai as the employee representative director of the company's second board of directors during the employee representative assembly held on December 29, 2025 [1] Group 1 - The employee representative assembly was held on December 29, 2025 [1] - The election was conducted through democratic discussion and voting among all employee representatives [1] - Ms. Zhang Cai was elected as the employee representative director [1]