Group 1 - Aike Cyber (688719.SH) shareholders Dachen Chuangtong and Dachen Chuanghong reduced their holdings by 2,298,151 shares, accounting for 1.99% of the total share capital, and did not complete the planned reduction [1] - Benchuan Intelligent (300964.SZ) controlling shareholder Dong Xiaojun reduced his holdings by 355,787 shares, accounting for 0.4582% of the total share capital, bringing his shareholding down to 21.64% [1] - Changlian Co., Ltd. (603648.SH) completed its reduction plan by selling 3,624,050 shares, which is 1% of the total share capital [1] Group 2 - Chuan Yi Technology (002866.SZ) controlling shareholder Zou Weimin and his concerted party reduced their holdings, with Zou's shareholding dropping to 48.53% [2] - Daoshi Technology (300409.SZ) controlling shareholder Rong Jihua plans to reduce his holdings by up to 15,416,611 shares, accounting for 1.97% of the total share capital [2] - Electric Alloy (300697.SZ) completed its reduction plan by selling 2,741,390 shares, which is 0.63% of the total share capital [2] Group 3 - Fujirei (688272.SH) shareholders Suzhou Kongkong, Suzhou Zhaorong, and Shanghai Zhaoren reduced their holdings by 1,215,618 shares, 1,463,490 shares, and 44,944 shares, accounting for 1.60%, 1.93%, and 0.06% of the total share capital respectively [3] - Gaoweida (300465.SZ) controlling shareholder Yingtan Yinggao Investment Consulting Co., Ltd. reduced its holdings by 4,261,700 shares, accounting for 0.96% of the total share capital, bringing its shareholding down to 22.00% [3] - Haizheng Materials (688203.SH) shareholder Sinopec Capital plans to reduce its holdings by up to 3,525,600 shares, accounting for 1.74% of the total share capital [3] Group 4 - Hangyu Micro (300053.SZ) shareholder Yan Jun reduced his holdings by 3,930,000 shares, accounting for 0.56% of the total share capital [4] - He Shi Eye Hospital (301103.SZ) shareholder Advanced Manufacturing Industry Investment Fund plans to reduce its holdings by up to 3,106,074 shares, accounting for 2% of the total share capital [4] - He Yuan Gas (002971.SZ) shareholder Baishide Chuangye completed its reduction plan by selling 854,064 shares, which is 0.415% of the total share capital [4] Group 5 - Huaren Health (301408.SZ) shareholder Saifu Investment reduced its holdings by 2,107,696 shares, accounting for 0.53% of the total share capital [5] - Jiangsu Boyun (301003.SZ) shareholder Gong Wei reduced his holdings by 1,558,900 shares, accounting for 1.57% of the total share capital [5] - Jeya Co., Ltd. (301108.SZ) shareholders Mingyuan Fund and its concerted party did not reduce their holdings, and the reduction plan period expired [5] Group 6 - Longxin General (603766.SH) directors plan to reduce their holdings by up to 350,000 shares and 100,000 shares, accounting for 0.0170% and 0.0049% of the total share capital respectively [6] - Ruchuang Micro-Nano (688002.SH) shareholder Li Weicheng plans to reduce his holdings by up to 8,000,000 shares, accounting for 1.75% of the total share capital [6] - Shilan Micro (600460.SH) shareholder Luo Huabing plans to reduce his holdings by up to 500,000 shares, accounting for 0.03005% of the total share capital [6] Group 7 - Tongfu Microelectronics (002156.SZ) shareholder National Integrated Circuit Industry Investment Fund reduced its holdings by 15,175,969 shares, accounting for 1% of the total share capital [7] - Wangzi New Materials (002735.SZ) controlling shareholder Wang Jinjun reduced his holdings by 9,717,874 shares, accounting for 2.54% of the total share capital [7] - Xingye Co., Ltd. (603928.SH) shareholder Shen Genzhen reduced his holdings by 2,620,000 shares, accounting for 1.00% of the total share capital [7] Group 8 - Yikang Co., Ltd. (301085.SZ) controlling shareholder concerted party reduced its holdings by 633,700 shares, accounting for 0.73% of the total share capital [8] Group 9 - Yiming Pharmaceutical (002826.SZ) major shareholder Zhou Zhan reduced his holdings by 3,586,777 shares, accounting for 1.88% of the total share capital [9] - Yiming Pharmaceutical (002826.SZ) director Xi Ke reduced his holdings by 283,862 shares, accounting for 0.15% of the total share capital [9] - Youyan Powder Materials (688456.SH) concerted party reduced its holdings by 1,030,000 shares, accounting for 0.99% of the total share capital [9] Group 10 - Zhongma Transmission (603767.SH) directors plan to reduce their holdings through block trading and centralized bidding [10] - Zhongqi Co., Ltd. (301215.SZ) shareholder Jiangsu Yueda Group did not reduce its holdings, and the reduction plan period expired [10]

Group 1 - AI chip and application concept stocks weakened at the beginning of trading, with Hai Tian Rui Sheng dropping over 8% [1] - Cambricon Technologies fell more than 6%, indicating a significant decline in market performance [1] - Other companies such as Hengxuan Technology, Hengsheng Electronics (600570), and Haiguang Information also experienced declines [1]

Company Announcements - Jihua Group's existing product system does not involve brain-computer interface related fields [1] - Prit's plan to invest 1 billion yuan to build a plastic modification materials headquarters and R&D manufacturing base in South China [1][2] - Lian De Equipment won a contract worth 157 million yuan for BOE's 8.6 generation AMOLED production line project [1][2] - Jiadu Technology plans to issue shares (H-shares) overseas and list on the Hong Kong Stock Exchange [1][2] - Longdi Group intends to acquire no more than 20.1667% equity in Jujia Technology [1][4] - New Zhonggang plans to repurchase shares worth 40 million to 80 million yuan [1][4] - Xiaogoods City expects a net profit increase of 12.57% to 17.40% in the first half of the year [1][4] - Sinopec Capital plans to reduce its holdings by no more than 3.5256 million shares in Haizheng Materials through block trading [1][4] - Lihua Co., Ltd. intends to reduce its holdings by no more than 3.00% [1][4] - Zhimin Da plans to raise no more than 213 million yuan through a private placement [1][5] - Xiangtong Co. plans to issue corporate bonds not exceeding 4 billion yuan [1][5] Performance Forecasts - Hanyu Pharmaceutical expects a half-year profit of 142 million to 162 million yuan, turning a profit compared to the previous year [4] - Taotao Automotive anticipates a net profit increase of 70.34% to 97.81% in the first half of the year [4] - Weichai Heavy Machinery expects a net profit increase of 40% to 60% in the first half of the year [4] Shareholding Changes - Lihua Co., Ltd.'s actual controller Cheng Lili and his concerted actors plan to reduce their holdings by no more than 3.00% [4] - He Shi Eye Hospital's Advanced Manufacturing Fund plans to reduce its holdings by no more than 2% [4] - Haitan Ruisheng's shareholder He Lin and his concerted actors plan to reduce their holdings by no more than 2.9463% [4] - Sinopec Capital plans to reduce its holdings by no more than 3.5256 million shares in Haizheng Materials [4] Other Announcements - Zhimin Da plans to raise no more than 213 million yuan through a private placement [5] - Yuyuan Co. plans to issue corporate bonds not exceeding 40 billion yuan [5] - Jinhongshun has terminated the planning of a major asset restructuring [5]

Mergers and Acquisitions - Yanpai Co., Ltd. plans to acquire 100% equity of TTL and TTL Management Company for approximately €2.9 million, focusing on industrial textile solutions for B2B clients [1] - Landi Group intends to purchase up to 20.17% equity of Ningbo Jujia New Materials Technology Co., Ltd. for a total price not exceeding ¥121 million, as the company specializes in high-performance LCP fiber production [3] Asset Restructuring - Jinhongshun announced the termination of its major asset restructuring plan to acquire 95.79% of New Thinking Motor Co., Ltd. through share issuance and cash payment [2] Shareholding Changes - Haitai Ruisheng's controlling shareholder, He Lin, and his concerted party Zhongyi An plan to reduce their holdings by up to 2.95%, totaling no more than 177.74 million shares [4] - Silan Microelectronics' shareholder, Luo Huabing, plans to reduce his holdings by no more than 500,000 shares, representing up to 0.03% of the company's total equity [5] - Haizheng Shengcai's major shareholder, Sinopec Capital, intends to reduce its holdings by up to 1.74%, totaling no more than 3.5256 million shares [6] Operational Updates - Haiyang Wang confirmed that its operational status is normal and there are no undisclosed significant matters, despite a stock price fluctuation exceeding 20% [7] - Neimeng Yijian reported that its main business has not undergone significant changes, and the external market environment remains stable [10]

Company Highlights - Hanyu Pharmaceutical expects a net profit of 142 million to 162 million yuan for the first half of 2025, benefiting from increased global market demand and successful product approvals [1] - Taotao Automotive anticipates a net profit growth of 70% to 98% year-on-year for the first half of 2025, driven by enhanced brand influence and improved operational efficiency [2] - Xiaogoods City projects a net profit increase of 13% to 17% for the first half of 2025, attributed to growth in main business revenue and trade fulfillment services [2] - Hongxin Electronics signed contracts totaling 373 million yuan for computing power services through its subsidiaries [3] - Alloy Investment's controlling shareholder will change to Jiuzhou Hengchang, leading to the resumption of trading [3] - Hangzhou High-tech is planning a change in control, with a suspension of trading expected for no more than two trading days [4] - Junpu Intelligent signed a sales framework contract for humanoid robots worth 28.25 million yuan [7] - Lens Technology plans to issue 262 million H-shares globally, with an initial price range set between 17.38 and 18.18 HKD [8] - Saintno Biopharmaceuticals received a drug registration certificate for its product, further enhancing its market competitiveness [12] Investment & Contracts - Shenzhen Energy plans to invest 6.332 billion yuan in upgrading the Mawan Power Plant, aligning with national energy policies [17] - China Railway Construction won a contract worth 3.781 billion yuan for the China-Kyrgyzstan-Uzbekistan railway project [27] - China Railway secured contracts totaling approximately 5.343 billion yuan for the same railway project [28] - Zhongtian Technology's subsidiary won multiple marine energy project contracts totaling about 1.722 billion yuan [29] - Lande Group intends to acquire a 20.1667% stake in Jujia Technology for up to 121 million yuan, enhancing its capabilities in high-performance materials [21][22] Financing & Capital Increase - Yiwei Lithium Energy submitted an application for H-share issuance and listing in Hong Kong [30] - Jiadou Technology plans to issue H-shares and list on the Hong Kong Stock Exchange [30] - Helin Micro-Nano is preparing to issue H-shares for listing in Hong Kong [30] Other Developments - Renfu Pharmaceutical received approval for its midazolam injection in France, with expected annual sales of approximately 33 million USD [31] - Kanghong Pharmaceutical obtained a drug registration certificate for its eye drop product, enhancing its product pipeline in the ophthalmology sector [32]

证券代码：688787 证券简称：海天瑞声 公告编号：2025-021 北京海天瑞声科技股份有限公司 股东、董事及高级管理人员减持股份计划公告 股东宁波丰琬因自身资金需求，计划通过集中竞价及大宗交易方式减持所持 有的公司股份合计不超过 1,206,503 股，合计不超过公司股份总数的 2.00%。其 中，通过集中竞价方式减持的，减持股份合计不超过 603,251 股，不超过公司股 份总数的 1.00%；通过大宗交易方式减持的，减持股份合计不超过 1,206,503 股， 不超过公司股份总数的 2.00%。减持期间为自公告披露之日起 3 个交易日后的 3 个月内进行。 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、董事及高级管理人员持股的基本情况 截至本公告披露日，北京海天瑞声科技股份有限公司（以下简称"公司"）控 股股东、实际控制人贺琳及其一致行动人宁波中毅安创业投资合伙企业(有限合 伙)（以下简称"中毅安"）分别持有公司股份 12,137,615 股、6,935,780 股，分别 占 ...

海天瑞声公告，公司控股股东贺琳及其一致行动人中毅安计划减持不超过177.74万股，占公司股份总数 的2.9463%。股东宁波丰琬计划减持不超过120.65万股，占公司股份总数的2.00%。董事及高级管理人员 李科、吕思遥、黄宇凯、郝玉峰、张哲分别计划减持0.0172%、0.0135%、0.0168%、0.0008%、0.0043% 的股份。减持方式包括集中竞价及大宗交易，减持期间为公告披露之日起15个交易日后的3个月内。减 持原因为自身资金需求及经营需要。本次减持计划不会导致公司控股股东、实际控制人发生变化，不会 对公司持续稳定经营产生重大影响。 ...

海天瑞声：股东贺琳及其一致行动人中毅安拟减持不超2.9463%公司股份 金十数据6月30日讯，海天瑞声公告，股东贺琳及其一致行动人中毅安因自身资金需求、经营需要，计 划通过集中竞价及大宗交易方式减持所持有的公司股份合计不超过177.74万股，合计不超过公司股份总 数的2.9463%。其中，通过集中竞价方式减持的，减持股份合计不超过60.33万股，不超过公司股份总数 的1.00%；通过大宗交易方式减持的，减持股份合计不超过120.65万股，不超过公司股份总数的2.00%。 减持期间为自公告披露之日起15个交易日后的3个月内进行。 ...

Summary of Key Points from the Conference Call Company Overview - **Company**: 海天瑞声 (Haitian Ruisheng) - **Industry**: Data Annotation and AI Training Data Services Core Insights and Arguments - **2022 Performance**: Benefited from a surge in demand for autonomous driving visual data, leading to rapid growth [2][4] - **2023 Performance**: Revenue declined due to the impact of outbound data regulations, but net profit turned positive, and gross margin improved due to increased demand for multimodal data and unique datasets [2][6] - **Market Growth**: The data annotation industry is expected to have a compound annual growth rate (CAGR) exceeding 20% by 2027, with policy support increasing [2][7] - **Market Size Forecast**: The data annotation market is projected to exceed 10 billion yuan by 2025, with a growth rate of over 30% [2][8] - **Competitive Landscape**: 60% of demand comes from in-house teams, 35% from brand data service providers like Haitian Ruisheng, and the remaining from small data service providers, indicating increased market concentration [8] Important Developments - **Global Expansion**: The company is actively expanding its global AI client base, with expected overseas revenue growth of nearly 90% in 2024, surpassing 100 million yuan [5][14] - **Government Collaboration**: Partnered with China Mobile to launch the DeepThink industry intelligence solution, focusing on government clients and contributing to the construction of the ASEAN corpus and trusted data space [5][16] - **Future Revenue Growth**: Anticipates overall revenue growth exceeding 40% this year, with specific segments like computer vision and natural language processing expected to grow over 50% [18] Additional Insights - **Business Model**: The company’s business model includes customized services, standardized products, and application services related to training data [3] - **Scale AI Comparison**: The company’s future direction may align with Scale AI, which has seen significant growth and investment, indicating a potential roadmap for Haitian Ruisheng [14] - **Data Demand Shift**: The demand for data is shifting from general knowledge to specialized knowledge, driven by the development of large models [7] - **Scale AI Overview**: Scale AI, a competitor, provides data annotation and management services, with expected revenue growth from nearly 900 million USD in 2023 to over 2 billion USD in 2024 [11] Conclusion - The data annotation industry is poised for significant growth, driven by regulatory support and increasing demand for specialized data. Haitian Ruisheng is strategically positioning itself for future expansion, particularly in overseas markets and through government collaborations, while also navigating challenges posed by regulatory changes.

Investment Rating - The report assigns a "Buy" rating for the company, Hai Tian Rui Sheng (688787) [1]. Core Views - Hai Tian Rui Sheng is a leading provider of AI training data solutions in China, focusing on AI datasets and services for AI companies and research institutions. The company is expected to benefit from the growing demand for high-quality datasets driven by the development of large AI models [8][13]. - The data labeling industry is experiencing policy-driven growth, with expectations for a compound annual growth rate (CAGR) exceeding 20% by 2027. The demand for specialized data sets is increasing as AI applications expand [30][32]. - The company has established a global presence, with significant growth in overseas revenue and partnerships with government entities to enhance its data labeling capabilities [47][49]. Summary by Sections Company Overview - Hai Tian Rui Sheng, founded in 2005, is the first company in the AI data industry to be listed on the Sci-Tech Innovation Board. It provides multilingual, cross-domain, and cross-modal AI data services, covering over 200 major languages and dialects [13]. Market Dynamics - The data labeling industry is set to grow significantly, with the Chinese market expected to exceed 10 billion yuan by 2025. The demand for specialized data sets is increasing, particularly in sectors like healthcare and autonomous driving [30][37]. Financial Projections - Revenue projections for Hai Tian Rui Sheng are as follows: 2025 revenue is expected to reach 3.45 billion yuan, with net profit of 0.32 billion yuan. By 2027, revenue is projected to grow to 6.44 billion yuan, with net profit reaching 0.91 billion yuan [1][55]. Competitive Positioning - The company is positioned as a rare player in the A-share market focusing on AI training data solutions, with strong potential to secure orders from internet companies and state-owned enterprises [57]. Growth Strategy - Hai Tian Rui Sheng is expanding its global footprint by establishing a data delivery base in Singapore and forming joint ventures with local governments to enhance its data labeling operations [47][49]. Investment Thesis - The report emphasizes that high-quality datasets are foundational for AI development, and Hai Tian Rui Sheng is well-positioned to benefit from the ongoing evolution and application of AI large models [57].