Group 1 - The core point of the article is that Fuxin Technology (688662) has achieved significant milestones in the development of Micro TEC products for high-speed optical modules, leading to a 20% stock price increase on July 22 [1] - Fuxin Technology's subsidiary, Guangdong Fuxin Thermoelectric Device Technology Co., Ltd., has successfully passed product validation from a leading company in the communication sector and has begun bulk supply of Micro TEC products [1] - The Micro TEC products are essential for precise temperature control and heat dissipation in high-performance optical modules, meeting the industry's advanced performance standards [1] Group 2 - According to research from Dongfang Securities, Fuxin Technology is expected to achieve sales revenue of 27 million yuan in the communication sector in 2024, representing a year-on-year growth of 140.8% [1] - The demand for high-speed optical modules and related temperature control products is increasing due to the rapid development of generative artificial intelligence and the expanding global computing power market [2] - On July 22, several companies in the optical-electronic co-packaging technology sector saw their stock prices rise, indicating a broader market interest in this technology [2]

Group 1 - Fuxin Technology experienced a 20% limit-up increase in stock price, indicating strong market interest [1] - Other companies such as Zhongshi Technology, Changxin Bochuang, Liante Technology, Shijia Photon, Yuanjie Technology, and Taicheng Light also saw stock price increases of over 5% [1] - The market reaction is driven by Fuxin Technology's announcement that its MicroTEC products, used in 400G/800G high-speed optical modules, have passed product validation from a leading company in the communications sector and have begun mass supply [1]

Group 1 - CPO concept stocks experienced a surge in early trading, with Fuxin Technology rising over 15% [1] - Zhongshi Technology (300684) increased by over 7%, while Zhongji Xuchuang (300308) and Shengyi Technology (600183) reached new highs [1] - Dongshan Precision (002384) and Xinyi Sheng (300502) also saw gains in their stock prices [1] Group 2 - Fuxin Technology announced that its Micro TEC products have achieved mass supply [1] - There is a notable influx of dark pool funds into these stocks [1]

Market Overview - On July 21, A-shares saw collective gains across major indices, with the Shanghai Composite Index rising by 0.72% to 3559.79 points, the Shenzhen Component Index increasing by 0.86% to 11007.49 points, and the ChiNext Index up by 0.87% to 2296.88 points [2][3] - The total trading volume in the Shanghai and Shenzhen markets reached 172.71 billion yuan, an increase of 133.9 billion yuan from the previous day, with over 4000 stocks rising and more than 120 stocks hitting the daily limit [2] Sector Performance - The leading sectors included engineering machinery, cement and building materials, steel, electric grid equipment, and new urbanization, all showing significant gains [2] - Conversely, sectors such as cross-border payment, banking, education, and photolithography concepts experienced declines [2] International Market - In the U.S. market, the Dow Jones Industrial Average fell by 0.04% to 44323.07 points, while the S&P 500 rose by 0.14% to 6305.60 points, and the Nasdaq Composite increased by 0.38% to 20974.17 points [4][5] - European markets showed mixed results, with the UK FTSE 100 up by 0.23%, the French CAC40 down by 0.31%, and the German DAX up by 0.08% [4][5] - International oil prices declined, with WTI crude oil falling by 0.21% to $67.20 per barrel and Brent crude down by 0.10% to $69.21 per barrel [4] Regulatory Developments - The State Council of China announced the implementation of the "Housing Rental Regulations" effective from September 15, 2025, aimed at standardizing rental activities and promoting high-quality development in the housing rental market [6][7][8] - The regulations emphasize the need for market-driven and government-guided approaches, encouraging the growth of professional rental enterprises and ensuring compliance with safety standards [6][7] Cross-Border Financial Initiatives - The People's Bank of China and other regulatory bodies released the "Implementation Rules for Cross-Border Asset Management Pilot Business" in Hainan, facilitating foreign investment in financial products within the Hainan Free Trade Port [9] - This initiative aims to enrich cross-border financial product offerings and attract asset management institutions to Hainan, supporting the development of the free trade port [9] Consumption Trends - The Chinese consumption market saw robust growth in new consumption models, with online retail sales of physical goods increasing by 6.0% year-on-year, accounting for 24.9% of total retail sales [10] - Notable growth was observed in green consumption, particularly in the new energy vehicle sector, which saw a retail volume increase of 33.3% [10] Energy Consumption - In June, China's total electricity consumption reached 867 billion kWh, marking a year-on-year increase of 5.4% [11] - Cumulative electricity consumption for the first half of the year was 4841.8 billion kWh, up by 3.7% compared to the same period last year [11] Technological Investment - Hangzhou aims to increase its technological innovation investment to 300 billion yuan by 2027, with a focus on enhancing research and development spending [12] Automotive Industry Regulation - Guangdong and Anhui provinces are implementing measures to regulate competition in the automotive industry, focusing on quality management and fair payment practices to combat "price wars" [14][15]

R&D Progress of Micro TEC Products - The Micro TEC product developed by Guangdong Fuxin Technology Co., Ltd. has achieved significant progress and has passed product verification from a leading company in the communication field, enabling mass supply [1] - The Micro TEC product is designed for 400G/800G high-speed optical modules, addressing the increasing demand for precise temperature control and heat dissipation driven by advancements in cloud computing, AI, and big data [1] Impact on the Company - The successful development and verification of the Micro TEC product reflect the recognition of the company's core technological capabilities by clients, marking a key advancement in the industrialization process within the communication sector [1] - This development is expected to positively influence the company's business growth and profitability in the communication field, laying a solid foundation for future business expansion [1]

Suspension - Jiangte Motor's actual controller is planning a change in company control, leading to stock suspension [1] - Sinochem Equipment is planning to issue shares to acquire 100% equity of multiple companies, resulting in stock suspension [1] Private Placement - Huafeng Technology plans to raise no more than 1 billion yuan through private placement for the expansion of high-speed line module projects [2] Equity Transfer - Longxin General's state-owned shareholder is transferring 15.52% of the company's shares from Yufu Capital without compensation [3] - Yunda Technology's controlling shareholder intends to transfer 10% of the company's equity to Zhixiang Dahang at a price of 9.01 yuan per share [4] External Investment and Daily Operations - Fuxin Technology's Micro TEC product has reached industry-leading performance and has passed product verification from a major telecommunications company, achieving bulk supply [5] - Dongfang Precision has signed a strategic cooperation agreement with Leju Robotics [6] - Hongxin Technology has signed a technology development and parts procurement contract with a leading domestic flying car company in the low-altitude economy [7] - Fuwei Co., Ltd. received a project notification from a well-known luxury brand manufacturer, with a project lifecycle expected to last 6-7 years and total sales amounting to 4.9 billion yuan [7] - Rainbowsoft Technology's actual controller proposed a cash dividend of no less than 60% of net profit for the 2025 interim period [8] - Samsung Medical's subsidiary won a transformer procurement framework contract in Brazil worth approximately 341 million yuan [9] - Chuling Information's subsidiary signed a framework contract for intelligent computing network integration [9] - Baotai's BAT4406F injection has received approval for clinical trials [9] - Junxin Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange [9] - Dongfang Precision has signed a strategic cooperation agreement with Leju Robotics [10] - Daikin Heavy Industry signed a 430 million yuan contract for offshore wind power monopile foundations in Europe [11] - Kunming Pharmaceutical Group's subsidiary obtained a drug registration certificate for carbonic acid sevelamer dry suspension [12] - Xiechuang Data has initiated preparations for overseas share issuance and application for listing on the Hong Kong Stock Exchange [13] - Health元's restructured anti-IL-17A/F humanized monoclonal antibody injection's phase III clinical trial has reached its primary research endpoint [14] - Beilu Zhikong plans to invest 600 million yuan to build an intelligent driving industrialization base for mining [15] - Jucan Optoelectronics reported a net profit of 117 million yuan for the first half of the year, a year-on-year increase of 3.43%, and plans a 10-for-4.5 stock split [16] Performance Changes - Jinghe Integration expects a net profit of 260 million to 390 million yuan for the first half of 2025, a year-on-year increase of 39.04% to 108.55% due to increased product sales and high capacity utilization [10] - Baismei anticipates a net profit of 33.11 million to 44.42 million yuan for the first half of 2025, a year-on-year increase of 100.07% to 168.38% driven by product structure optimization and international trade channel development [11] - Changying Tong expects a net profit of 26.12 million to 31.92 million yuan for the first half of 2025, a year-on-year increase of 72.12% to 110.33% due to significant growth in optical fiber device deliveries [12] - Mankun Technology expects a net profit of 60 million to 70 million yuan for the first half of 2025, a year-on-year increase of 53.98% to 79.64% as the company optimizes product and customer structure [13] - Canqin Technology anticipates a net profit of 51.3 million to 55.3 million yuan for the first half of 2025, a year-on-year increase of 50.14% to 61.85% due to new product development and market expansion [14] - Aerospace Huanyu expects a net profit of approximately 34.38 million yuan for the first half of 2025, a year-on-year increase of 50.59% driven by revenue growth and changes in product sales structure [15] - Keda Li expects a net profit of 750 million to 820 million yuan for the first half of 2025, a year-on-year increase of 15.73% to 26.53% due to increased sales of new energy vehicles [16] - Honghua Digital expects a net profit of 240 million to 260 million yuan for the first half of 2025, a year-on-year increase of 19.90% to 29.89% as traditional printing equipment transitions to digital printing [17] - Yangjie Technology anticipates a net profit of 552 million to 637 million yuan for the first half of 2025, a year-on-year increase of 30% to 50% due to growth in the semiconductor industry [18] - Haitai Ruisheng expects a net profit of 2.944 million to 4.416 million yuan for the first half of 2025, a year-on-year increase of 607.01% to 960.52% driven by rapid development in AI technology [19] - Zhongshi Technology expects a net profit of 116 million to 129 million yuan for the first half of 2025, a year-on-year increase of 85.01% to 105.75% due to recovery in consumer electronics market demand [20]

证券代码：688662 证券简称：富信科技 公告编号：2025-028 广东富信科技股份有限公司 关于自愿披露 Micro TEC 产品研发进展的公告 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。 近日，广东富信科技股份有限公司（以下简称"公司"）控股子公司广东富信 热电器件科技有限公司（以下简称"器件公司"）研发的应用于 400G/800G 高速率 光模块的 Micro TEC 产品（以下简称"Micro TEC 产品"）已取得阶段性成果。 一、Micro TEC 产品的研发情况 二、对公司的影响 公司近年来通过持续的研发投入和技术攻关，在关键核心技术领域取得重要 突破。此次产品研发通过验证不仅体现了客户对公司核心技术能力的认可，更标 志着公司在通信领域产业化进程中取得关键进展，为后续业务拓展奠定了坚实基 础，将对公司在通信领域的业务增长及盈利能力提升产生积极影响。 三、风险提示 应用于 400G/800G 高速率光模块的 Micro TEC 产品现已形成批量供货，但 在公司整体收入中占比较小，预计今年产生的销售收入不 ...

Core Viewpoint - Fuxin Technology's MicroTEC products for 400G/800G high-speed optical modules have passed product validation by a leading company in the telecommunications sector and have begun mass supply [1] Group 1: Product Development and Validation - The MicroTEC products developed by Fuxin Technology's subsidiary, Guangdong Fuxin Thermal Electric Devices Technology Co., Ltd., are specifically designed for 400G/800G high-speed optical modules [1] - The products have successfully undergone validation by a major player in the telecommunications field [1] Group 2: Financial Impact - Although the MicroTEC products are now in mass supply, they currently represent a small proportion of the company's overall revenue [1] - The expected sales revenue from these products for the current year is projected to be no more than 2% of the company's total revenue for the fiscal year 2024 [1]

Core Viewpoint - Fuxin Technology's Micro TEC products have achieved mass supply after passing validation from a leading company in the communication sector, marking a significant milestone in the company's industrialization process in the communication field [1] Group 1 - The Micro TEC products are designed for 400G/800G high-speed optical modules [1] - The successful validation of the product reflects the recognition of the company's core technological capabilities by clients [1] - This achievement lays a solid foundation for future business expansion and is expected to positively impact the company's growth and profitability in the communication sector [1]

Key Points - The core viewpoint of the announcement is the share transfer by Richly World Investment Limited, which will reduce its stake in Guangdong Fuxin Technology Co., Ltd. from 15.15% to 12.15% [1][2][6] - The transfer price for the shares is set at 30.53 yuan per share, with a total of 2,647,200 shares being transferred [6] - The transfer does not involve the company's controlling shareholders, actual controllers, directors, supervisors, or senior management [1][6] - The share transfer process was conducted through a pricing inquiry, with 13 valid bids received from institutional investors [5][6] - The inquiry invitation was sent to 419 institutional investors, including 78 fund companies and 52 securities companies [5] - The transfer will not lead to a change in the company's control [6] Group 1 - The transferring party, Richly World Investment Limited, is a wholly-owned subsidiary of Coherent Corp. and has a concerted action relationship with Allied Rising Investment Limited [2][3] - After the transfer, Richly World Investment Limited and its concerted party will hold a total of 10,721,160 shares, representing 12.15% of the total share capital [4][6] - The transfer was conducted in compliance with relevant laws and regulations, ensuring a fair and just process [6][7]