Group 1 - The company DingTong Technology (688668) expects to achieve an operating revenue of 785 million yuan in the first half of 2025, representing a year-on-year growth of 73.51% [1] - The company anticipates a net profit attributable to shareholders of the parent company of 114 million yuan for the first half of 2025, reflecting a year-on-year increase of 131.75% [1] - The expected net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, is projected to be 106 million yuan for the first half of 2025, which indicates a year-on-year growth of 134.83% [1]

Investment Rating - The industry investment rating is optimistic (maintained) [1] Core Insights - The report highlights that copper interconnect technology has become a key factor in enhancing data center performance, with a growing market share due to its low cost and low power consumption advantages in short-distance connections [4][13] - The demand for high-speed copper cables is significantly driven by the AI boom, particularly with the increasing computational needs of data centers and the adoption of NVIDIA's GB200 solutions [22][41] - The report emphasizes the rapid growth of the AEC (Active Electrical Cable) sector, which is expected to achieve a compound annual growth rate (CAGR) of 45% from 2023 to 2028, indicating a robust market opportunity [26][84] Summary by Sections Section 1: Copper Interconnect Technology - Copper interconnect technology is crucial for improving data center performance, with various connection solutions available [13] - The report discusses the advantages of copper cables over fiber optics in specific applications, particularly in short-distance connections within data centers [17][18] Section 2: AI and Copper Cable Demand - The rise of generative AI models like ChatGPT has led to an exponential increase in computational power requirements, driving demand for copper interconnect solutions [22][29] - NVIDIA's GB200 architecture utilizes copper interconnects extensively, enhancing performance and reducing power consumption compared to previous solutions [41][50] Section 3: Data Center Growth and Copper Demand - Global data center energy consumption is projected to rise significantly, with copper interconnects offering low power consumption advantages [60][67] - The report notes that the increasing operational costs of data centers necessitate efficient transmission solutions, where copper interconnects provide a cost-effective alternative [63][67] Section 4: High-Speed Copper Cable Market - The high-speed copper cable market is characterized by strong internal and external demand, with diverse application scenarios [75][76] - The AEC supply chain is detailed, highlighting the importance of upstream components like chips and cables, and the involvement of major players in the industry [88][89] Section 5: Investment Recommendations - The report suggests focusing on leading companies in the copper cable connector industry, including Huafeng Technology, Ruikeda, and Lixun Precision, among others, which are well-positioned to benefit from the growing demand [6][75]

证券代码：688668 证券简称：鼎通科技 公告编号：2025-030 特此公告。 东莞市鼎通精密科技股份有限公司董事会 东莞市鼎通精密科技股份有限公司 关于子公司注销完成的公告 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、准确性和完整性承担个别及连带责任。 东莞市鼎通精密科技股份有限公司（以下简称"公司"或"鼎通科技"）于 2025 年 5 月 14 日召开第三届董事会第十一次会议、第三届监事会第九次会议审议通 过了《关于拟注销子公司的议案》，同意注销全资子公司鼎通科技研发中心(长沙) 有限公司（以下简称"子公司"或"长沙研发中心"），并授权公司相关人员办理 相关手续。详见公司于 2025 年 5 月 15 日在上海证券交易所网站披露的《关于拟 注销子公司的公告》（公告编号：2025-022）。 近日，长沙市开福区市场监督管理局下发的予以注销研发中心的登记通知书， 长沙研发中心的注销登记手续已办理完毕。本次注销长沙研发中心，不会对公司 整体业务的发展和盈利水平产生重大不利影响，不存在损害公司及股东利益的情 形。 2025 年 6 月 26 日 ...

Core Points - The announcement details the first vesting results of the 2024 Restricted Stock Incentive Plan for Dongguan Dingtong Precision Technology Co., Ltd, with a total of 472,080 shares to be listed for trading on June 26, 2025 [1][8] - The stock subscription method is offline, and the shares are part of an equity incentive program aimed at motivating key personnel [1][3] Group 1: Incentive Plan Details - The decision-making process for the stock vesting was approved by the board and the supervisory committee, ensuring compliance with relevant regulations [2][3] - The first grant date for the restricted stock was set for April 8, 2024, with a grant price of 24.00 CNY per share [4][5] - The total number of shares granted under the plan is 1,180,200, with 472,080 shares being vested in the first period [5][8] Group 2: Stock Vesting and Listing - The vested shares will be listed for trading on June 26, 2025, and the total number of shares listed is 472,080 [1][8] - The total share capital before the vesting was 138,729,646 shares, which will increase to 139,201,726 shares after the vesting [7][8] - The number of individuals receiving the vested shares is 48, with a vesting ratio of 40% for both senior management and other incentivized personnel [5][8] Group 3: Financial Impact - The company reported a net profit of 52,896,288.61 CNY for Q1 2025, with an earnings per share of 0.38 CNY; the vesting of shares will dilute this figure based on the new total share capital [8]

证券代码：688668 证券简称：鼎通科技 公告编号：2025-029 东莞市鼎通精密科技股份有限公司 关于 2024 年限制性股票激励计划首次授予部分 第一个归属期归属结果暨股票上市公告 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。 本次股票上市流通总数为472,080股。 本次股票上市流通日期为2025 年 6 月 26 日。 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司（以下简称"中证登上海分公司"）相关业务规定，东莞市鼎通 精密科技股份有限公司（以下简称"公司"）于近日收到中证登上海分公司出具的 《证券变更登记证明》，公司完成了 2024 年限制性股票激励计划（以下简称"本 激励计划"）首次授予部分第一个归属期股份登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 1.2024 年 3 月 15 日，公司召开第二届董事会第二十九次会议，会议审议通过 了《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司 <2024 年 ...

Core Viewpoint - Dongguan Dingtong Precision Technology Co., Ltd. is implementing a restricted stock incentive plan for 2024, which includes adjustments to grant prices, conditions for the first vesting period, and the cancellation of certain restricted stocks [1][2][3]. Group 1: Approval and Authorization - The company has completed necessary procedures for the adjustment, vesting, and cancellation of restricted stocks as per the 2024 incentive plan [7]. - The draft of the incentive plan was submitted to the board for review and approval, with independent directors providing their opinions [7][8]. - The company has conducted self-inspections regarding insider trading related to the incentive plan and found no violations [8][9]. Group 2: Specifics of the Adjustment - The grant price for the restricted stocks has been adjusted in accordance with relevant regulations, ensuring compliance with the management measures and listing rules [10]. - The adjustment reflects the company's commitment to maintaining fair practices in stock distribution [10]. Group 3: Vesting Conditions and Achievements - The first vesting period for the restricted stocks is set from April 8, 2025, to April 7, 2026 [11]. - The conditions for vesting have been met, including the absence of adverse audit opinions and compliance with performance targets [12][13]. - The company's net profit for 2024 is reported at approximately 110.34 million yuan, with a net profit growth rate of 65.74% [13][16]. Group 4: Cancellation of Restricted Stocks - A total of 126,000 shares of restricted stocks have been canceled due to the departure of four incentive recipients [17]. - The company has also noted that 37,800 shares remain unallocated and will expire as per the plan's provisions [17]. - The reasons for the cancellation align with the management measures and the company's incentive plan regulations [17]. Group 5: Conclusion - The legal opinion confirms that the adjustments, vesting conditions, and cancellations comply with applicable laws and regulations [18].

Core Viewpoint - Dongguan Dingtong Precision Technology Co., Ltd. has adjusted the grant price of its 2024 restricted stock incentive plan from 16.79 yuan per share to 16.29 yuan per share due to the completion of the company's annual equity distribution for 2024 [1][6][7]. Group 1: Decision Process and Approval - The company has followed the necessary decision-making procedures and disclosed information regarding the adjustment of the grant price for the restricted stock incentive plan [1][2]. - The independent directors have expressed their agreement that the incentive plan is beneficial for the company's sustainable development and does not harm the interests of the company and all shareholders [1][2][7]. - The board of directors has been authorized to determine the grant date and handle all necessary matters related to the restricted stock incentive plan [3][6]. Group 2: Adjustment Details - The adjustment of the grant price is based on the company's annual cash dividend distribution of 0.50 yuan (before tax), totaling 69,364,823.00 yuan (before tax) [5][6]. - The formula used for the adjustment is P = P0 - V, where P0 is the original grant price, V is the cash dividend per share, and P is the adjusted grant price [6]. - The adjusted grant price of 16.29 yuan per share is still above the minimum requirement of 1 yuan [6]. Group 3: Impact and Opinions - The adjustment of the grant price will not have a substantial impact on the company's financial status and operating results, and it does not harm the interests of the company and its shareholders [6][7]. - Both the independent directors and the supervisory board have agreed that the adjustment complies with relevant laws and regulations, and the necessary procedures have been followed [7][8].

证券代码:688668 证券简称:鼎通科技 公告编号：2025-027 东莞市鼎通精密科技股份有限公司 ? 本次拟归属的限制性股票数量为 47.2080 万股 ? 归属股票来源：东莞市鼎通精密科技股份有限公司（以下简称"公司"或"鼎 通科技"）向激励对象定向发行公司 A 股普通股股票。 一、本次股权激励计划批准及实施情况 （一）本次股权激励计划主要内容 占公司 2024 年限制性股票激励计划草案公告时公司股本总额 9,909.2604 万 股的 0.94%。 本激励计划首次授予的第二类限制性股票各批次归属比例安排如下表所示： 关于 2024 年限制性股票激励计划第二类限制性股票 首次授予部分第一个归属期符合归属条件的公告 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： | 归属安排 | 归属期限 | | 归属权益比例 | | --- | --- | --- | --- | | 第一个归属期 | 自授予之日起 | 12 | 个月后的首个交易日至授 | 予之日起 24 个月内的最后一个交易日止 第二个归属期 自 ...

Group 1 - The company held its third supervisory board meeting on May 28, 2025, with all three supervisors present, complying with legal and regulatory requirements [1] - The supervisory board approved the adjustment of the grant price for the 2024 restricted stock incentive plan from 16.79 yuan per share to 16.29 yuan per share, aligning with relevant regulations and not harming the interests of the company and its shareholders [1] - The board also approved the first vesting period of the second category of restricted stock for 48 eligible participants, allowing the vesting of 472,080 shares, as the conditions for vesting have been met [2]

东莞市鼎通精密科技股份有限公司（以下简称"鼎通科技"或"公司"）于 2025 年 5 月 28 日召开了第三届董事会第十二次会议、第三届监事会第十次会议， 审议通过了《关于调整 2024 年限制性股票激励计划授予价格的议案》。鉴于公 司 2024 年年度权益分派已实施完毕，根据《上市公司股权激励管理办法》（以 下简称"《管理办法》"）《东莞市鼎通精密科技股份有限公司 2024 年限制性 股票激励计划（草案）》（以下简称"《激励计划（草案）》"）等相关规定和 公司 2024 年第一次临时股东大会的授权，对本次激励计划的授予价格进行调整， 其中首次及预留授予价格由 16.79 元/股调整为 16.29 元/股。现将有关事项说明如 下： 一、本次限制性股票授予已履行的决策程序和信息披露情况 1. 2024 年 3 月 15 日，公司召开第二届董事会第二十九次会议，会议审议通 过了《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关 于公司<2024 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股 东大会授权董事会办理公司 2024 年限制性股票激励计划有关事项的议案》及《关 于提请召 ...