Group 1 - The core index of the CSI 500 Electronic Terminal and Components Index is reported at 17798.16 points, with a monthly increase of 2.81%, a three-month increase of 11.11%, and a year-to-date increase of 6.37% [1] - The CSI 500 index is categorized into 11 primary industries, 35 secondary industries, and over 90 tertiary industries, providing a comprehensive analysis tool for investors [1] - The top ten holdings in the CSI 500 Electronic Terminal and Components Index include China Great Wall (13.89%), Newland (10.92%), and XW Communication (10.6%) [1] Group 2 - The CSI 500 Electronic Terminal and Components Index is composed entirely of the Information Technology sector, with a sample adjustment occurring biannually [2] - The weight factors of the index are adjusted in accordance with the sample adjustments, which take place on the second Friday of June and December [2] - In cases of special events affecting sample companies, such as mergers or delistings, the index will undergo corresponding adjustments [2]

Group 1 - The core viewpoint of the article is that the company is advancing its expansion plans in the storage semiconductor sector to meet the increasing demand from major customers, with a notable increase in order volume in the second quarter compared to the first quarter [1] - The company charges processing fees in the packaging and testing segment, which are relatively stable and less affected by fluctuations in the prices of end products [1]

Company Overview - Shenzhen Changcheng Development Technology Co., Ltd. is a leading global professional electronic manufacturing enterprise, consistently ranked among the top in the Electronic Manufacturing Service (EMS) industry by MMI [1] - The company focuses on providing one-stop electronic product manufacturing services, including R&D, process design, production, supply chain management, logistics, and sales [1] - The main business strategy is centered around three core areas: storage semiconductors, high-end manufacturing, and intelligent metering terminals [1] Industry Trends and Impact - The recent upturn in the semiconductor industry has led to an increase in terminal product prices, positively affecting the company's order volume and semiconductor packaging and testing prices [2] - The second quarter order volume increased compared to the first quarter, driven by the company's expansion plans in the storage semiconductor sector [2] Technological Capabilities - The company is recognized as a leading domestic memory chip packaging and testing enterprise, with a skilled R&D and engineering team capable of advanced multi-layer stacking packaging techniques [2] - Current technological capabilities meet existing customer needs and future development requirements, with plans to enhance capabilities based on customer demands [2] Future Strategic Development - The company aims to strengthen technological innovation, enhance production quality, and focus on high-end, intelligent, and differentiated development [2] - Plans include increasing overseas presence to enhance supply chain resilience and adapting production layouts based on international trade policies and cost advantages [3] - Emphasis on digitalization, AI applications, and creating a high-end electronic manufacturing business that transitions from "Made in China" to "Created in China" [2][3] Operational Integrity - The company adheres to strict information disclosure management regulations, ensuring the accuracy and timeliness of disclosed information [3]

Market Overview - The A-share market opened with mixed performance, with the Shanghai Composite Index up 0.04% at 3474.63 points, while the Shenzhen Component Index and the ChiNext Index fell by 0.04% and 0.03% respectively [2][3] - The Hong Kong market saw the Hang Seng Index rise by 0.17% and the Hang Seng Tech Index increase by 0.28%, with notable gains in companies like Far East Horizon and Kingstone Pharmaceuticals [4] Sector Performance - Advanced packaging, semiconductor, and power sectors showed strength, while tax refund stores, recombinant protein, and CPO concepts opened lower [1] - The storage chip sector led gains, with companies like Jingzhida rising over 7% following news of Changxin Memory's listing guidance [1] - Shipping and port concepts also performed well, with Ningbo Ocean and Ningbo Shipping both rising over 3% amid news of Houthi attacks on Red Sea merchant ships [1] Monetary Policy - The central bank conducted a 690 billion yuan reverse repurchase operation with a rate of 1.40%, while 1310 billion yuan of reverse repos are set to mature today [5] Currency Exchange - The RMB against the USD was adjusted down by 28 basis points to a midpoint of 7.1534, with the onshore closing price at 7.1747 [6]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [8] Core Insights - The report highlights significant opportunities in the storage sector driven by continuous price increases, AI catalysis, and accelerated domestic production [2][3][5] - The semiconductor storage market is expected to gradually recover starting from the end of March 2025, with both DRAM and NAND entering an upward price channel [3][16] - The demand for storage is being propelled by AI applications, with expectations for substantial growth in HBM and DDR5 demand by 2025 [4][81] Summary by Sections Price Analysis - The report anticipates sustained price increases in Q3 and Q4, with DDR4 leading the market due to supply-side reforms and production cuts by major manufacturers [15][19] - DRAM and NAND prices are expected to rise significantly, with PC DDR4 contract prices projected to increase by 18-23% in Q3 [24][31] Supply Side - The Chinese semiconductor storage market is projected to grow from approximately 394.3 billion yuan in 2023 to 458 billion yuan in 2025, with DRAM holding the largest market share [59][61] - Major overseas manufacturers are reducing production, benefiting domestic companies and increasing their market share [59][63] Demand Side - The report indicates that DRAM and NAND are entering a long growth cycle, with DRAM demand capacity expected to grow by 16% in 2024 and 15% in 2025 [81][83] - The demand for enterprise-level SSDs is expected to rise significantly, with AI infrastructure driving performance and capacity upgrades [4][81] Technology Trends - The report discusses advancements in 3D NAND technology and the transition to higher efficiency DRAM processes, with expectations for 300-layer NAND production by 2025 [72][73] - The integration of AI technologies is expected to enhance the performance and capacity of storage solutions, particularly in enterprise applications [4][5] Company Dynamics - Domestic storage manufacturers are accelerating their technological advancements and production capabilities, with companies like Jiangbolong and Baiwei Storage leading the charge in high-end storage solutions [5][6][63] - The report emphasizes the importance of self-developed controllers and high-end technology in building competitive advantages for domestic firms [5][6]

深圳长城开发科技股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日召 开第十届董事会第十次会议和第十届监事会第九次会议，审议通过了《关于注销 2022 年股票期权激励计划部分股票期权的议案》。同意公司注销离职激励对象 已获授但尚未行权的股票期权及首次授予第一个行权期个人绩效考核结果为 C 的当期不能行权的股票期权，共涉及激励对象 44 名，注销股票期权数量合计 409.8620 万份。具体内容详见 2025 年 6 月 14 日披露在巨潮资讯网 （http://www.cninfo.com.cn）上的《关于注销 2022 年股票期权激励计划部分股 票期权的公告》（公告编号：2025-026）。 经中国证券登记结算有限责任公司深圳分公司审核确认，公司已于2025年6 月27日完成上述股票期权的注销事宜。 本次注销部分股票期权事宜符合《上市公司股权激励管理办法》及公司 《2022年股票期权激励计划（草案修订稿）》等有关规定，不存在损害公司及 股东利益的情形，本次注销部分股票期权合法、有效。本次股票期权注销事宜不 会导致公司股本结构发生变化。 证券代码：000021 证券简称：深科技 公告编码：20 ...

Core Viewpoint - Shenzhen Great Wall Development Technology Co., Ltd. has announced the first exercise period for its 2022 stock option incentive plan, allowing 369 eligible participants to exercise a total of 11.47608 million stock options at a price of 10.94 CNY per share, effective from June 26, 2025, to June 25, 2026 [1][11]. Summary by Sections Incentive Plan Approval and Execution - The stock option incentive plan has been approved by the Shenzhen Stock Exchange and registered with the China Securities Depository and Clearing Corporation [2]. - The plan underwent necessary approval procedures, including independent opinions from the board of directors [2][3]. Adjustments to the Incentive Plan - The number of initial incentive participants was adjusted from 401 to 396 due to five employees leaving the company, resulting in a total grant adjustment from 46.8176 million to 46.5576 million options [5]. - The exercise price for the stock options was set at 10.94 CNY per share after adjustments [12][13]. Performance Conditions and Achievements - The first exercise period's performance conditions have been met, including a net asset cash return rate of 13.52%, exceeding the required 13.00% [9]. - The company has not faced any disqualifying events that would prevent the exercise of options [8][9]. Specifics of the Stock Option Exercise - A total of 11.47608 million stock options will be available for exercise, representing 0.74% of the company's total share capital [11]. - The exercise period is set from June 26, 2025, to June 25, 2026, with the exercise method being self-exercise [11]. Financial Impact and Fund Management - The exercise of stock options is not expected to significantly impact the company's financial status or earnings per share [14][16]. - Funds raised from the exercise will be used to supplement the company's working capital [16]. Tax and Compliance Arrangements - Participants are responsible for their personal income tax, which will be withheld and paid by the company [16]. - There have been no stock trading activities by participating directors or senior management in the six months prior to the announcement [17].

证券代码：000021 证券简称：深科技 公告编码：2025-027 深圳长城开发科技股份有限公司 关于公司 2022 年股票期权激励计划 首次授予股票期权第一个行权期自主行权的提示性公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈 述或者重大遗漏。 特别提示： 1、2022 年股票期权激励计划首次授予部分期权简称：科技 JLC1，期权代 码：037371。 2、公司首次授予部分第一个行权期行权条件已成就，可行权的激励对象 369 人；可行权的股票期权数量为 1,147.6080 万股；行权价格为 10.94 元/股。 3、本次行权采用自主行权模式。 4、公司首次授予部分第一个行权期可行权期限为 2025 年 6 月 26 日至 2026 年 6 月 25 日。截至本公告日，中国证券登记结算有限责任公司深圳分公司的手 续已办理完成，实际可行权期限为 2025 年 6 月 26 日至 2026 年 6 月 25 日。 5、本次可行权股票期权若全部行权，公司股份仍具备上市条件。 深圳长城开发科技股份有限公司（以下简称"公司"）2025 年 6 月 13 日召开 第十届董事会第十次 ...

Core Viewpoint - Shenzhen Great Wall Development Technology Co., Ltd. has announced the cancellation of part of its 2022 stock option incentive plan, specifically 4.09862 million stock options, which were granted but not exercised by certain incentive targets [1][6][7]. Summary by Relevant Sections Approval Procedures - The company held meetings on June 13, 2025, where the board and supervisory committee reviewed and approved various related proposals regarding the stock option incentive plan [1][2]. Adjustments to Incentive Plan - The initial number of incentive targets was adjusted from 401 to 396 due to five employees leaving the company. The total number of stock options granted was reduced from 46.8176 million to 46.5576 million, with the initial grant quantity adjusted from 38.12 million to 37.86 million [4][5]. Reasons for Cancellation - The cancellation of stock options was due to the failure of certain incentive targets to meet the exercise conditions, resulting in the cancellation of 2.97 million and 1.091 million stock options, respectively [6][7]. Impact on Company - The cancellation of stock options is in compliance with relevant regulations and will not have a significant impact on the company's financial status or operational results [6][7]. Opinions from Supervisory Board and Legal Counsel - The supervisory board has agreed that the cancellation is lawful and compliant with regulations, and it will not harm the interests of the company or its shareholders [6][7]. Legal counsel has confirmed that necessary approvals for the cancellation have been obtained [7].

Core Viewpoint - Shenzhen Great Wall Development Technology Co., Ltd. has announced the achievement of the first exercise condition for the stock option incentive plan initiated in 2022, allowing eligible participants to exercise their options [1][2][7]. Summary by Sections Incentive Plan Approval and Conditions - The company held meetings on June 13, 2025, where the board approved the achievement of the first exercise condition for the stock option incentive plan [1][2]. - The plan allows for the exercise of 11.476 million stock options at a price of 10.94 yuan per share [1][13]. Performance Metrics - The company's net asset cash return rate (EOE) for 2023 was 13.52%, exceeding the performance assessment requirement of 13.00% [10][11]. - The net profit compound growth rate for 2023 was also above the required 10.00% [10][11]. Eligible Participants and Options - A total of 369 individuals are eligible to exercise their options, with the total number of options available for exercise being 11.476 million, which represents 0.74% of the company's total share capital [13][19]. - The exercise of options is subject to individual performance assessments, with 363 individuals meeting the performance criteria [12][19]. Adjustments and Changes - The initial number of participants was adjusted from 401 to 396 due to five employees leaving the company [5][14]. - The total number of options granted was reduced from 46.8176 million to 46.5576 million, with the first grant quantity adjusted from 38.12 million to 37.86 million [5][14]. Financial Impact and Management - The exercise of options is not expected to significantly impact the company's financial status or operational results [17][18]. - Funds raised from the exercise will be used to supplement the company's working capital [18]. Compliance and Legal Opinions - The company has obtained necessary approvals and authorizations for the exercise of options, complying with relevant regulations [20][21]. - The independent financial advisor confirmed that all conditions for the exercise of options have been met [20][21].