11月7日，海泰新光跌0.67%，成交额3834.90万元，换手率0.66%，总市值58.28亿元。 异动分析 医疗器械概念+专精特新+人民币贬值受益 1、公司始终致力于将光学技术与医疗器械行业的前沿应用趋势相结合，研究发展高性能的尖端内窥镜 器械产品。目前，公司是国内少有的具备从核心部件、关键设备到系统集成的行业垂直整合能力的企 业。 2、专精特新"小巨人"企业是全国中小企业评定工作中最高等级、最具权威的荣誉称号，是指专注于细 分市场、创新能力强、市场占有率高、掌握关键核心技术、质量效益优的排头兵企业，对于提升中小企 业自身的竞争力，以及提升产业链、供应链稳定性和竞争力具有重大意义。公司已入选工信部专精特新 小巨人企业名单。 3、根据2024年年报，公司海外营收占比为69.12%，受益于人民币贬值。 来源：新浪证券-红岸工作室 该股筹码平均交易成本为46.47元，近期筹码关注程度减弱；目前股价靠近支撑位48.40，注意支撑位处 反弹，若跌破支撑位则可能会开启一波下跌行情。 公司简介 资料显示，青岛海泰新光科技股份有限公司位于山东省青岛市崂山区科苑纬四路100号，成立日期2003 年6月11日，上市日期202 ...

来源：新浪证券-红岸工作室 11月6日，海泰新光跌0.22%，成交额4279.61万元，换手率0.73%，总市值58.68亿元。 异动分析 医疗器械概念+专精特新+人民币贬值受益 1、公司始终致力于将光学技术与医疗器械行业的前沿应用趋势相结合，研究发展高性能的尖端内窥镜 器械产品。目前，公司是国内少有的具备从核心部件、关键设备到系统集成的行业垂直整合能力的企 业。 2、专精特新"小巨人"企业是全国中小企业评定工作中最高等级、最具权威的荣誉称号，是指专注于细 分市场、创新能力强、市场占有率高、掌握关键核心技术、质量效益优的排头兵企业，对于提升中小企 业自身的竞争力，以及提升产业链、供应链稳定性和竞争力具有重大意义。公司已入选工信部专精特新 小巨人企业名单。 3、根据2024年年报，公司海外营收占比为69.12%，受益于人民币贬值。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入-226.76万，占比0.05%，行业排名65/132，连续2日被主力资金减仓；所属行业主力净流 入-6.85亿，当前无连续增减仓现象，主力趋势不明显。 区间今日近3日近5日近1 ...

(免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 来源：新浪证券-红岸工作室 11月5日，海泰新光跌0.28%，成交额4331.00万元，换手率0.74%，总市值58.81亿元。 异动分析 医疗器械概念+专精特新+人民币贬值受益 1、公司始终致力于将光学技术与医疗器械行业的前沿应用趋势相结合，研究发展高性能的尖端内窥镜 器械产品。目前，公司是国内少有的具备从核心部件、关键设备到系统集成的行业垂直整合能力的企 业。 2、专精特新"小巨人"企业是全国中小企业评定工作中最高等级、最具权威的荣誉称号，是指专注于细 分市场、创新能力强、市场占有率高、掌握关键核心技术、质量效益优的排头兵企业，对于提升中小企 业自身的竞争力，以及提升产业链、供应链稳定性和竞争力具有重大意义。公司已入选工信部专精特新 小巨人企业名单。 3、根据2024年年报，公司海外营收占比为69.12%，受益于人民币贬值。 公司简介 资料显示，青岛海泰新光科技股份有限公司位于山东省青岛市崂山区科苑纬四路100号，成立日期2003 年6月11日，上市日期2021年2月26日，公司主营业务涉及医用内窥镜器械和光学产品 ...

证券代码：688677 证券简称：海泰新光公告编号：2025-064 青岛海泰新光科技股份有限公司（以下简称"公司"）于2025年10月24日召开第四届董事会第八次会议， 审议通过了《关于公司2025年限制性股票激励计划（草案）及其摘要的议案》及相关议案。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》（以下简称"《上市规则》"）等有关法律、法规及规范性文件以及公司章程的相关规定， 公司对2025年限制性股票激励计划（以下简称"本激励计划"）首次授予激励对象的姓名和职务在公司内 部进行了公示。公司董事会薪酬与考核委员会结合公示情况对首次授予激励对象人员名单进行了核查， 相关公示情况及核查情况如下： 一、公示情况 1、公司于2025年10月25日在上海证券交易所网站（www.sse.com.cn）上披露了《2025年限制性股票激 励计划（草案）》（以下简称"《激励计划（草案）》"）及其摘要、《2025年限制性股票激励计划实施 考核管理办法》《2025年限 ...

证券代码：688677 证券简称：海泰新光 公告编号：2025-064 青岛海泰新光科技股份有限公司薪酬与考核委员会 关于公司 2025 年限制性股票激励计划首次授予激励对象名 单的公示情况说明及核查意见 一、公示情况 1、公司于 2025 年 10 月 25 日在上海证券交易所网站（www.sse.com.cn）上 披露了《2025 年限制性股票激励计划（草案）》（以下简称"《激励计划（草案）》"） 及其摘要、《2025 年限制性股票激励计划实施考核管理办法》《2025 年限制性股 票激励计划激励对象名单》等文件。 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。 青岛海泰新光科技股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日召开第四届董事会第八次会议，审议通过了《关于公司 2025 年限制性股票激 励计划（草案）及其摘要的议案》及相关议案。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 ...

Quantitative Models and Construction - **Model Name**: DecompGRU **Model Construction Idea**: The model improves information interaction between time-series and cross-sectional data by introducing two simple de-mean modules on the GRU baseline model[18] **Model Construction Process**: 1. The DecompGRU model architecture is based on GRU as the baseline 2. Two de-mean modules are added to enhance the interaction between time-series and cross-sectional data 3. The model is trained using IC and weighted MSE loss functions[18] **Model Evaluation**: The model demonstrates improved interaction between time-series and cross-sectional data, enhancing prediction accuracy[18] Model Backtesting Results - **DecompGRU TOP200 Portfolio**: - Cumulative absolute return: 41.11% - Excess return relative to WIND All A equal-weight index: 13.98% - Maximum drawdown: 10.08% - Weekly win rate: 64.52% - Monthly win rate: 100% - October absolute return: 1.78%, excess return: -0.07%[11] - **ETF Rotation Portfolio**: - Cumulative absolute return: 19.06% - Excess return relative to benchmark: -2.00% - Maximum drawdown: 7.82% - Weekly win rate: 62.50% - Monthly win rate: 57.14% - October absolute return: -2.04%, excess return: -1.18%[14][15] Quantitative Factors and Construction - **Factor Name**: Sentiment Heat Factor **Factor Construction Idea**: The factor aggregates stock-level sentiment heat metrics (e.g., browsing, self-selection, and clicks) to represent broader market sentiment[19] **Factor Construction Process**: 1. Individual stock sentiment heat is calculated as the sum of browsing, self-selection, and click counts 2. The sentiment heat is normalized by dividing by the total market sentiment on the same day and multiplying by 10,000 3. Aggregated sentiment heat is used as a proxy for market sentiment at the index, industry, and concept levels[19] **Factor Evaluation**: The factor effectively captures market sentiment and its impact on pricing errors[19] Factor Backtesting Results - **Broad-based Index Sentiment Heat Rotation Strategy**: - Annualized return since 2017: 8.74% - Maximum drawdown: 23.5% - 2025 portfolio return: 38.5% - Benchmark return: 32.9%[28] - **Concept Sentiment Heat BOTTOM Portfolio**: - Annualized return: 15.71% - Maximum drawdown: 28.89% - 2025 portfolio return: 42.1%[41][44]

Core Viewpoint - The latest data reveals that pension funds have invested in 26 stocks on the Sci-Tech Innovation Board, with a total holding of 70.01 million shares valued at 4.322 billion yuan, indicating a strategic shift in their investment portfolio [1][2]. Group 1: Pension Fund Holdings - Pension funds have newly entered 12 stocks, increased holdings in 1 stock, reduced holdings in 7 stocks, and maintained positions in 6 stocks [1]. - The stock with the highest holding ratio is Tiancheng Technology, accounting for 4.24% of its circulating shares, followed by Haitai New Light at 4.20% and Rongzhi Rixin at 3.83% [1]. - The top three stocks by holding quantity are Transsion Holdings (15.53 million shares), Sany Heavy Energy (5.36 million shares), and Yubang Power (5.09 million shares) [1]. - The stocks with the highest market value held by pension funds are Transsion Holdings (1.463 billion yuan), Huafeng Technology (343 million yuan), and Rejing Bio (255 million yuan) [1]. Group 2: Industry Focus - Pension fund investments are primarily concentrated in the pharmaceutical and biotechnology, national defense and military industry, and machinery equipment sectors, with 5, 5, and 4 stocks respectively [1]. - Stocks continuously held by pension accounts for more than two reporting periods include 14 stocks, with Yubang Power and Kaili New Materials being held for 13 reporting periods [1]. Group 3: Performance Metrics - Among the stocks held by pension funds, 12 reported year-on-year net profit growth in the first three quarters, with Rongzhi Rixin showing the highest growth rate of 889.54% [2]. - The average decline of pension-held Sci-Tech Innovation Board stocks since October is 2.36%, with Puyuan Precision Electronics showing the best performance with a cumulative increase of 15.86% [2]. - The stock with the largest decline is Huafeng Technology, which has dropped by 22.37% [2].

Group 1 - The 2025 High-Quality Development Forum for Listed Companies and the 27th Golden Bull Award Ceremony took place in Nantong, Jiangsu, with the theme "Moving Towards New Horizons, Achieving Long-Term Goals through Practicality, and Innovating for the Future" [1] - Haitai New Light won the "2024 New Quality Enterprise Golden Bull Award," and the company's CFO, Wang Fanghua, received the "2024 Golden Bull CFO Award" [1][4] - The Golden Bull Award is a prestigious evaluation event organized by China Securities Journal, emphasizing transparency and professionalism in its selection process [4][5] Group 2 - Haitai New Light, established in 2003, is a Sino-foreign joint venture focused on the R&D, production, and sales of medical endoscopic instruments and optical products [4] - The company integrates optical technology with various fields, including medicine, industry, laser, and biometrics, and has developed four major technology platforms: optics, precision machinery, electronics, and digital imaging [4] - The Golden Bull Award includes nine categories, such as "Most Investment Value Award" and "Golden Bull Outstanding Entrepreneur Award," with the "New Quality Enterprise Golden Bull Award" based on 16 key indicators across six dimensions [5]

Core Viewpoint - The company reported strong financial performance for Q1-Q3 2025, with significant increases in revenue and net profit, driven by the recovery of overseas orders and optimization of product structure [1][2]. Financial Performance - For Q1-Q3 2025, the company achieved revenue of 448 million yuan (+40.47%) and a net profit of 136 million yuan (+40.03%), with a non-GAAP net profit of 133 million yuan (+49.53%) [1]. - In Q3 2025, the company recorded revenue of 182 million yuan (+85.26%) and a net profit of 62 million yuan (+130.72%), with a non-GAAP net profit of 61 million yuan (+148.4%) [1]. Business Growth Drivers - The recovery of overseas orders has accelerated the growth of the endoscope business, with significant year-on-year and quarter-on-quarter increases in domestic and international shipments [2]. - Total revenue from medical endoscope products reached 350 million yuan (over +40% growth) in the first three quarters, while optical business revenue was 90 million yuan (over +30% growth) [2]. - Overseas revenue for Q1-Q3 was 330 million yuan (+52%), with domestic revenue at 106 million yuan, showing positive growth [2]. Strategic Partnerships - The company is deepening collaborations with major overseas clients, including the development of next-generation endoscope systems with a U.S. client and establishing a joint venture for surgical instruments with a German company [2]. - Collaboration with Danaher for in vitro diagnostic equipment has commenced small-scale production at the Thailand facility [2]. Incentive Plans - The company has launched a new round of equity incentive plans aimed at core personnel in domestic and overseas operations, reflecting confidence in long-term growth [3]. - The performance targets for the incentive plan are based on 2024 revenue and net profit, aiming for growth rates of 35%/50%/90% for 2025/2026/2027 [3]. Profit Forecast - Revenue projections for 2025-2027 are 599 million yuan, 719 million yuan, and 862 million yuan, with year-on-year growth rates of 35.35%, 19.88%, and 20.03% respectively [3]. - Expected net profits for the same period are 183 million yuan, 228 million yuan, and 280 million yuan, with growth rates of 35.44%, 24.57%, and 22.73% respectively [3]. - The current price-to-earnings ratios are projected to be 31, 25, and 20 times for 2025, 2026, and 2027 [3].

青岛海泰新光科技股份有限公司 2025 年第三次临时股东会会议资料 证券代码：688677 证券简称：海泰新光 青岛海泰新光科技股份有限公司 2025 年第三次临时股东会会议资料 目录 | 青岛海泰新光科技股份有限公司 | 2025 | 年第三次临时股东会会议须知 | 1 | | --- | --- | --- | --- | | 青岛海泰新光科技股份有限公司 | 2025 | 年第三次临时股东会会议议程 | 3 | | 议案一 | 《关于公司<2025 | 年限制性股票激励计划（草案）>及其摘要的议案 | 5 | | 议案二 | 《关于公司<2025 | 年限制性股票激励计划实施考核管理办法>的议案》 | 6 | | 议案三《关于提请股东会授权董事会办理公司 | | 2025 | 年限制性股票激励计划有 | | 关事项的议案》 | | | 7 | 青岛海泰新光科技股份有限公司 2025 年第三次临时股东会会议资料 青岛海泰新光科技股份有限公司 青岛海泰新光科技股份有限公司 2025 年第三次临时股东会会议资料 2025 年 11 月 1 为了维护青岛海泰新光科技股份有限公司全体股东的合法权益，确保股东会 的 ...