Core Viewpoint - Shenzhen Huaqiang is focusing on the storage sector as a key area for continuous development and growth, highlighting its role as an important distributor for various storage manufacturers [1] Group 1: Company Overview - The company is a significant distributor for storage manufacturers including Jiangbolong, Zhaoyi Innovation, Lianyun Technology, Jincun Technology, Huimeng Technology, Weigang Technology, and Qianyi International [1] - In the first three quarters, the company's total shipment of storage products experienced a substantial year-on-year increase [1]

Group 1: Business Development and Strategy - In 2014, the company established a strategy to enter the electronic components authorized distribution industry, starting a series of acquisitions from 2015 to 2018 to integrate leading distributors [1] - The establishment of Huachuang Semiconductor Group in 2018 aimed to deepen the integration of authorized distribution business, creating a unified operational management platform [1] - The company has rapidly secured its position as a leading domestic electronic components distributor, covering a wide range of applications and serving thousands of major enterprises and SMEs [2] Group 2: Storage Business Performance - The company ranks among the top in the industry for the number of product lines it represents, including storage products, which are a key area of development [3] - There was a significant year-on-year increase in the total shipment of storage product lines in the first three quarters [3] Group 3: Partnerships and Collaborations - The company is a major authorized distributor for HiSilicon, with significant revenue growth from HiSilicon product lines in 2024 and the first three quarters of 2025 [4] - As a "Gold Component Partner" for Ascend, the company has developed multiple application solutions based on Ascend chips and aims to enhance Ascend's ecosystem [5]

Core Viewpoint - Shenzhen Huaqiang (000062.SZ) has reported a significant year-on-year increase in the total shipment of its storage product line for the first three quarters of this year, indicating strong growth in the storage sector [1] Company Summary - The company is a leading authorized distributor of electronic components in China and has been actively expanding its presence in the storage market [1] - Shenzhen Huaqiang has established itself as an important agent for several storage manufacturers, including Jiangbolong, Zhaoyi Innovation, Lianyun Technology, Jincun Technology, Huimeng Technology, Adata Technology, and Qianyi International [1] - The company plans to deepen its collaboration with storage manufacturers to seize market opportunities and promote the expansion of its storage business [1]

Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - The report regularly sorts out the latest private exchangeable bond (private EB) project information available from public channels and tracks the basic elements of private exchangeable bond projects [1] Group 3: Summary According to the Directory Newly Added Projects from 20251124 - 20251128 - New Hope Group Co., Ltd.'s 2025 private offering of technological innovation exchangeable corporate bonds to professional investors was approved by the exchange, with an intended issuance scale of 4.5 billion yuan, the underlying stock being New Hope (000876.SZ), the lead underwriter being CICC, and the exchange update date being November 27, 2025 [1] - Jiangsu Shenghong Technology Co., Ltd.'s 2025 private offering of exchangeable corporate bonds to professional investors was approved by the exchange, with an intended issuance scale of 3 billion yuan (down from the previous plan), the underlying stock being Orient Shenghong (000301.SZ), the lead underwriter being Huatai United Securities, and the exchange update date being November 27, 2025 [1] - Shenzhen Huaqiang Group Co., Ltd.'s 2025 private offering of exchangeable corporate bonds (second time) to professional investors was approved by the exchange, with an intended issuance scale of 1.3 billion yuan (down from the previous plan), the underlying stock being Shenzhen Huaqiang (000062.SZ), the lead underwriter being Jinyuan United Securities, and the exchange update date being November 27, 2025 [1] - Hainan农垦 Investment Holdings Group Co., Ltd.'s 2025 private offering of exchangeable corporate bonds to professional investors was accepted by the exchange, with an intended issuance scale of 2.1 billion yuan, the underlying stock being Hainan Rubber (601118.SH), the lead underwriter being CITIC Securities, and the exchange update date being November 25, 2025 [1] Other Project Status (as of 2025 - 11 - 28) - Multiple projects such as those of Guangdong Shengyi Technology Co., Ltd., Hangzhou Iron & Steel Group Co., Ltd., etc., have been approved by the exchange, with different intended issuance scales, underlying stocks, lead underwriters, and update dates [3] - Projects of companies like Strait Innovation Internet Co., Ltd. and Sichuan Jiuzhou Investment Holdings Group Co., Ltd. are in the "Feedback Received" status [3]

Summary of Shenzhen Huaqiang Conference Call Company Overview - Shenzhen Huaqiang is benefiting from the sustained high growth of HiSilicon, its largest agency, which has achieved high double-digit growth for two consecutive years, significantly driving the company's performance, especially in a weak computing power demand environment [2][3][6] Key Points Industry and Market Dynamics - The company is actively expanding its diversified business lines, including mobile phones, medical, aesthetic medicine, and computing power, which, despite currently being small in scale, show significant growth potential and are expected to become important drivers of future performance [2][6] - In the first three quarters of 2025, Shenzhen Huaqiang's revenue grew by over 35% year-on-year, attributed to a stable income from a quality customer base and the company's long-term competitiveness [2][6] - The domestic semiconductor industry is rapidly developing, with the domestic product line accounting for nearly 60%, moving away from low-margin states to profitability [2][7] Financial Performance - The net profit for the third quarter of 2025 increased by nearly 40% year-on-year, driven by enhanced competitive strength, continuous high double-digit growth in HiSilicon's business, and rapid development in new agency lines [3][6] - The company has managed to maintain a relatively small decline in revenue and profit during industry downturns, with significant increases during recoveries [6] Product Pricing and Inventory - Prices for analog products, MCUs, and power devices have been declining since early 2022, with expectations that the rate of decline will further slow in 2024, indicating they are at a bottom range [9][11] - The memory market has not fully bottomed out, with price recovery contingent on clear demand resurgence. The fourth quarter of 2025 is expected to see price increases, continuing into the first quarter of 2026 [4][12] - As of the end of the third quarter, inventory was close to 2.1 billion, primarily consisting of customer orders, with a focus on reducing potential bad debts rather than product category structure [4][13] Strategic Partnerships and Future Outlook - Shenzhen Huaqiang is currently a partner of Ascend but has not yet become an agency due to Ascend's limited capacity and direct supply model. Future agency opportunities may arise as Ascend's ecosystem matures [5] - The company is strengthening collaborations with leading domestic companies, including Huawei and HiSilicon, while also expanding partnerships with other domestic chip manufacturers [5][6] - The company aims to maintain its leading position in the domestic electronic component distribution industry, with a revenue target beyond 30 billion, focusing on genuine profitability and risk reduction [18] M&A and Growth Strategy - Shenzhen Huaqiang is considering overseas acquisitions but prefers joint ventures or partnerships domestically. The company is also exploring new directions in the AI sector rather than simply acquiring competitors [17][18] Conclusion - Shenzhen Huaqiang is positioned for continued growth through strategic partnerships, diversification of its product lines, and a focus on maintaining competitive advantages in a rapidly evolving semiconductor market [2][6][18]

Group 1: Financial Performance - The company's revenue for the first three quarters increased by 8.46% year-on-year, while net profit attributable to shareholders grew by 35.62% [2] - Key factors for growth include deepening cooperation with major product lines and clients, expanding market reach, and promoting both domestic and overseas product lines [3] - The "Huaqiang Science and Technology Innovation Plaza" project has maintained a high occupancy rate since its launch in 2024, contributing to steady performance [3] Group 2: Business Developments - The company is a major authorized distributor for HiSilicon, with significant revenue growth from HiSilicon products in 2024 and the first three quarters of 2025 [4] - As a "Gold Partner" of Ascend APN, the company has developed multiple applications based on Ascend chips, enhancing its role in the Ascend ecosystem [4] Group 3: Storage Business - The company is a leading distributor of electronic components, with a strong focus on storage products, achieving significant year-on-year growth in storage product shipments [5] Group 4: AI Business Initiatives - The company is actively involved in AI ecosystem development, promoting applications of Ascend AI in various sectors, including industrial inspection and autonomous mobile robots [6] - The company has completed private deployment of large models and is expanding testing capabilities, focusing on enhancing internal management and digital systems [7] - Future plans include expanding agency rights for AI-related chips and developing AI application solutions to optimize organizational efficiency [7] Group 5: Dividend Policy - The company has a long-standing commitment to returning value to investors, having consistently paid cash dividends for over a decade and implementing mid-year dividends for the past three years [7]

证券代码：000062 证券简称：深圳华强 编号：2025—069 深圳华强实业股份有限公司 关于控股股东面向专业投资者非公开发行可交换公司债券 换股价格调整的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 2025 年 11 月 20 日，深圳华强实业股份有限公司（以下简称"深圳华强" 或"公司"）收到控股股东深圳华强集团有限公司（以下简称"华强集团"）的 通知，因公司将于 2025 年 11 月 27 日向全体股东每 10 股派发现金红利 2 元（含 税），华强集团将相应调整其面向专业投资者非公开发行可交换公司债券的换股 价格，具体情况如下： 三项同时进行时：P＝（P0－D＋A×K）/（1＋N＋K）。 一、控股股东可交换公司债券的基本情况 华强集团于2023年12月22日、2025年6月11日、2025年6月17日发行深圳华强 集团有限公司2023年面向专业投资者非公开发行可交换公司债券（第二期）（债 券简称"23华强E2"，债券代码"117217"）、深圳华强集团有限公司2025年面 向专业投资者非公开发行可交换公司债券（第一期）（债券简称" ...

Core Viewpoint - Shenzhen Huaqiang announced a cash dividend distribution of 2 yuan (including tax) for every 10 shares to all shareholders on November 27, 2025, which will lead to an adjustment in the conversion price of its exchangeable bonds for professional investors [1] Group 1 - The cash dividend will be distributed to all shareholders on November 27, 2025 [1] - The controlling shareholder, Huaqiang Group, will adjust the conversion price of its exchangeable bonds accordingly [1] - The conversion price for the bonds issued on December 22, 2023, June 11, 2025, and June 17, 2025, will be adjusted from 30.17 yuan per share to 29.97 yuan per share starting from November 27, 2025 [1]

Group 1 - The company Shenzhen Huaqiang announced a cash dividend distribution plan for the third quarter of 2025, proposing a payout of 2 RMB per 10 shares (including tax) [1] - The record date for the dividend distribution is set for November 26, 2025, while the ex-dividend date is November 27, 2025 [1]

证券代码：000062 证券简称：深圳华强 编号：2025—068 深圳华强实业股份有限公司 2025 年第三季度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳华强实业股份有限公司（以下简称"公司"）2025年第三季度权益分派 方案已获2025年第二次临时股东会审议通过，现将权益分派事宜公告如下： 一、股东会审议通过的权益分派方案情况 公司于 2025 年 11 月 13 日召开 2025 年第二次临时股东会审议通过了《2025 年第三季度利润分配预案》，公司 2025 年第三季度利润分配预案为：以公司现 有总股本 1,045,909,322 股为基数，向全体股东每 10 股派发现金红利 2 元（含 税），即分配现金股利总额为 209,181,864.40 元。本次利润分配预案实施时， 如享有利润分配权的股本总额发生变动，则以实施分配方案股权登记日时享有利 润分配权的股本总额为基数，按照分配总额不变的原则对每股现金分红金额进行 调整。 自分配预案披露至实施期间，公司股本总额未发生变化。本次实施的分派方 案与公司 2025 年第二次临时股 ...