德明利11月28日大宗交易平台共发生8笔成交，合计成交量26.84万股，成交金额5506.13万元。以折溢价 进行统计，今日有7笔为折价交易，折价率最高达11.37%。从参与大宗交易营业部来看，机构专用席位 共出现在3笔成交的买方或卖方营业部中，合计成交金额为2071.79万元，净买入2071.79万元。 （文章来源：证券时报网） 11月28日德明利大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 11.00 | 2418.90 | 219.90 | 0.00 | 招商证券股份有限公司长 | 国泰海通证券股份有限公司 | | | | | | 沙芙蓉中路证券营业部 | 重庆中山三路证券营业部 | | 5.13 | 999.84 | 194.90 | -11.37 | 机构专用 | 中国银河证券股份有限公司 | | | | | | | 深圳龙华证券营业部 | | 4.00 | ...

Market Overview - The Shanghai Composite Index rose by 0.34% on November 28, with 29 out of 31 sectors experiencing gains, led by the steel and agriculture sectors, both up by 1.59% [1] - The electronic sector also saw an increase of 1.30% [1] - The banking and coal sectors were the only ones to decline, with decreases of 0.83% and 0.14% respectively [1] Capital Flow - The net inflow of capital in the two markets was 10.84 billion yuan, with 19 sectors receiving net inflows [1] - The electronic sector had the highest net inflow, totaling 3.423 billion yuan, while the non-ferrous metals sector followed with a net inflow of 3.051 billion yuan, increasing by 1.44% [1] - A total of 12 sectors experienced net outflows, with the pharmaceutical and biological sector leading with a net outflow of 2.334 billion yuan [1] Electronic Sector Performance - The electronic sector had 471 stocks, with 366 stocks rising and 101 stocks declining; 6 stocks hit the daily limit [2] - Among the stocks with significant net inflows, Shannon Chip (香农芯创) led with a net inflow of 902 million yuan, followed by Qian Zhao Guangdian (乾照光电) and Deming Li (德明利) with inflows of 536 million yuan and 443 million yuan respectively [2] - The stocks with the highest net outflows included Saiwei Electronics (赛微电子) with a net outflow of 509 million yuan, followed by Shenghong Technology (胜宏科技) and Furi Electronics (福日电子) with outflows of 377 million yuan and 233 million yuan respectively [4]

Core Viewpoint - Demingli plans to raise 3.2 billion yuan through a private placement to expand production, build a new headquarters, and supplement working capital, despite previous fundraising efforts and rising debt levels [1][6][9]. Group 1: Fundraising and Financial Performance - Demingli has conducted multiple fundraising rounds since its IPO in July 2022, raising 530 million yuan initially, followed by 989 million yuan in January 2025, and now seeking an additional 3.2 billion yuan [1][2]. - The investment progress from the previous fundraising round is only about 71.7%, raising questions about compliance with regulatory requirements that typically mandate an 18-month gap between fundraising events [3][5]. - The company has reported significant fluctuations in profitability, with a net profit of 0.11 billion yuan in 2022, a rebound to 3.03 billion yuan in 2024, but a loss of 0.5 billion yuan in the first three quarters of 2025 [6][7][9]. Group 2: Debt and Cash Flow Issues - Demingli's cash flow from operating activities has been negative, with figures of -3.31 billion yuan in 2022, -10.15 billion yuan in 2024, and -14.95 billion yuan in the first three quarters of 2025, indicating a worsening financial situation [8]. - The company's interest-bearing debt has increased dramatically from 0.26 billion yuan in 2019 to 47 billion yuan by the end of the third quarter of 2025, leading to high financial costs that impact profitability [8][9]. Group 3: Management and Governance Concerns - Prior to the announcement of the new fundraising plan, the controlling shareholders, including Li Hu and Tian Hua, sold shares worth nearly 500 million yuan, raising concerns about their confidence in the company's future [1][14]. - Several major shareholders have also engaged in significant share sell-offs, indicating a potential lack of faith in the company's growth prospects [14][15]. Group 4: Project Specifics and Compliance - The new fundraising plan includes 6.52 billion yuan for a new headquarters in Shenzhen, despite an existing R&D center funded during the IPO, raising questions about project redundancy [10][11][13]. - The total investment for the new headquarters project is estimated at 1.175 billion yuan, with a construction period of 36 months [11].

Core Viewpoint - The announcement indicates that the controlling shareholder, Li Hu, has released a pledge on 7.752 million shares, which represents 9.76% of his holdings and 3.42% of the company's total share capital, suggesting a positive liquidity event for the company [1] Group 1 - Li Hu's release of the pledge on 7.752 million shares occurred on November 26, 2025, while the remaining 2.3 million shares' release date has been postponed to November 26, 2026 [1] - As of the announcement date, Li Hu has a total of 6.05 million shares pledged, accounting for 7.62% of his holdings and 2.67% of the company's total share capital, indicating a manageable level of pledge risk [1] - The previous share reduction plan by Li Hu has been fully implemented, and the release of the pledge will not affect the company's control [1]

Group 1 - The company, Demingli, announced the release of approximately 7.75 million shares from pledge by its controlling shareholder, Mr. Li Hu [1] - As of the announcement date, Mr. Li Hu has a total of 6.05 million pledged shares, which accounts for 7.62% of his total holdings [1] - For the first half of 2025, Demingli's revenue composition is entirely from the storage industry, with a 100% contribution [1] Group 2 - The market capitalization of Demingli is reported to be 48.6 billion yuan [2]

证券代码：001309 证券简称：德明利 公告编号：2025-125 深圳市德明利技术股份有限公司 关于控股股东部分股份解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 二、股东股份累计质押基本情况 深圳市德明利技术股份有限公司（以下简称"公司"）近日收到了控股股东 李虎先生的通知，获悉其将所持有的公司部分股份办理了解除质押手续，具体情 况如下： | 股东名称 | 是否为控 股股东或 第一大股 东及其一 致行动人 | 本次解除质押 股份数量（股） | 占其所持 股份比例 （%） | 占公司总股 本比例（%） | 质押起始日 | 解除质押日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 李虎 | 是 | 7,752,000 | 9.76 | 3.42 | 2024 年 12 月 25 日 | 2025 年 11 月 26 日 | 国泰海通证 券股份有限 公司 | 一、本次股东股份解除质押基本情况 注：由于公司 2025 年 7 月 10 日实施 2024 年度权益分派，以资 ...

Core Viewpoint - Demingli (001309.SZ), a leading domestic storage module company, plans to raise up to 3.2 billion yuan through a private placement to enhance production capacity and technology in solid-state drives and memory products [1][3]. Fundraising Plan - The company intends to issue no more than 68.07 million shares, raising a total of up to 3.2 billion yuan for various projects, including SSD and DRAM expansion, and establishing a smart storage management and R&D headquarters [3][4]. - The investment amounts for the four projects are 1.123 billion yuan, 747 million yuan, 1.175 billion yuan, and 900 million yuan, with corresponding fundraising allocations of 984 million yuan, 664 million yuan, 652 million yuan, and 900 million yuan [4]. Financial Performance - Since Q3, storage product prices have rebounded, leading to a rapid recovery in Demingli's performance, achieving profitability in Q3 [1][8]. - In 2024, Demingli reported revenue of 4.773 billion yuan, a year-on-year increase of 168.74%, and a net profit of 351 million yuan, up 1302.3% [8]. - For the first three quarters of 2025, revenue reached 6.659 billion yuan, a year-on-year increase of 85.13%, but the company reported a net loss of 27.08 million yuan [8][9]. Shareholder Activity - Important shareholders have reduced their holdings, with the controlling shareholder, Li Hu, and his wife, Tian Hua, collectively cashing out approximately 497 million yuan in September 2025 [10][11][12]. - The stock price has seen significant fluctuations, dropping 29% from a peak of 306 yuan to 217.35 yuan as of November 26, 2025, despite a year-to-date increase of 250.16% [14].

Core Viewpoint - The company Demingli (001309.SZ), a leading domestic storage module enterprise, plans to raise up to 3.2 billion yuan through a private placement to enhance its production capacity and technological strength [2][4]. Group 1: Fundraising Plans - Demingli intends to issue no more than 68.07 million shares to specific investors, raising a total of up to 3.2 billion yuan for projects including solid-state drive (SSD) expansion, memory product (DRAM) expansion, and the establishment of an intelligent storage management and R&D headquarters [4][5]. - The investment amounts for the four major projects are 1.123 billion yuan, 747 million yuan, 1.175 billion yuan, and 900 million yuan, respectively [4]. Group 2: Financial Performance - Since the third quarter of 2025, Demingli has seen a rapid rebound in its operating performance, achieving profitability after a period of losses [3][6]. - In 2024, Demingli reported revenue of 4.773 billion yuan, a year-on-year increase of 168.74%, and a net profit of 351 million yuan, up 1302.3% [6][7]. - For the first three quarters of 2025, the company generated revenue of 6.659 billion yuan, a year-on-year increase of 85.13%, but reported a net loss of 27.0765 million yuan [6][7]. Group 3: Shareholder Activity - Important shareholders have reduced their holdings, with the controlling shareholders Li Hu and Tian Hua collectively cashing out approximately 497 million yuan in September 2025 [3][8]. - As of November 26, 2025, Demingli's stock price was 217.35 yuan per share, down 29% from its peak of 306 yuan on November 13, 2025, but still reflecting a year-to-date increase of 250.16% [3][8].

Core Viewpoint - Demingli (001309.SZ) plans to issue up to 68.07 million A-shares to no more than 35 specific investors, raising a total of no more than 3.2 billion yuan, focusing on expanding production capacity for solid-state drives (SSD) and DRAM products, as well as building a smart storage management and R&D headquarters [1][3]. Fundraising and Project Allocation - The fundraising, after deducting issuance costs, will be allocated to four projects: 984 million yuan for SSD expansion, 664 million yuan for DRAM expansion, 652 million yuan for the smart storage management and R&D headquarters, and 900 million yuan for working capital [3]. - The implementation of these projects is expected to enhance the product layout and improve large-scale supply capabilities [3]. Financial Performance - Demingli has experienced rapid revenue growth, with a compound annual growth rate of 100.21% from 2022 to 2024. However, in the first nine months of 2025, the company faced a temporary decline in performance due to increased investments from major clients, heightened R&D efforts, and industry cyclical adjustments [3]. - As of September 30, 2025, the company's inventory value reached 5.94 billion yuan, accounting for 64.75% of total assets, alongside negative cash flow from operating activities and a significant amount of interest-bearing debt, indicating potential inventory devaluation and repayment pressures [3]. Previous Fundraising Activities - The company has previously raised funds through the capital market, including a net amount of 456 million yuan from its initial public offering in 2022, which has been fully invested in related projects, with a remaining balance of 5.24 million yuan for working capital [3]. - In 2024, Demingli raised a net amount of 972 million yuan from a specific issuance, with 697 million yuan already invested by October 31, 2025, leaving a balance of 278 million yuan (including interest and investment income) for cash management [3]. Project Adjustments - The announcement also revealed adjustments in investment amounts and implementation locations for some previous fundraising projects, with the embedded storage control chip and module R&D industrialization project not yet reaching the predetermined usable state, with an expected completion date of March 2027 [4].

Market Overview - The main board saw significant gains with notable stocks such as Huazhu Holdings (+10.11%), Huanrui Century (+10.05%), and Yanhua Intelligent (+10.04%) leading the charge [1] - The ChiNext board also performed well, with Sanwei Tiandi (+20.01%) and Saiwei Electronics (+16.27%) among the top gainers [1] - The Sci-Tech Innovation board experienced similar growth, highlighted by Mingwei Electronics (+20.01%) and Changguang Huaxin (+20.00%) [1] - Active sub-industries included SW Communication Network Equipment and Devices (+7.58%) and SW Printed Circuit Boards (+3.64%) [1] Domestic News - Chip-on-Micro's self-developed 350nm stepper lithography machine AST6200 has been shipped to clients after passing rigorous factory testing, tailored for advanced compound semiconductor manufacturing scenarios [1] - Tianfu Communication clarified that rumors regarding a $3 billion order from Google are untrue, emphasizing adherence to regulatory disclosure requirements for significant orders [1] - Hongtai Technology signed a memorandum of cooperation with ADI, integrating ADI's high-performance measurement chips into its new SoC testing platform [1] - ASE Group announced major real estate and expansion decisions, including a purchase of a new factory and collaboration on a technology park [1] Company Announcements - Demingli plans to raise up to 3.2 billion yuan through a private placement, with funds allocated for SSD expansion, DRAM expansion, and a new headquarters project [2] - SIRUI announced a suspension of trading due to plans for a major asset restructuring involving the acquisition of control over Ningbo Aola Semiconductor [2] - Sitaiwei declared a cash dividend of 1.25 yuan per 10 shares based on a total share count of 401,304,700 after accounting for repurchased shares [2] - Zongheng Communication reported the completion of a share reduction by major shareholders, decreasing their combined holding from 31.40% to 30.74% [2] Overseas News - Qualcomm launched its fifth-generation Snapdragon 8 mobile platform, featuring a custom Qualcomm Oryon CPU with a peak frequency of 3.8GHz, achieving a performance increase of 36% and a 76% improvement in web browsing response time [3] - JPR's Q3 2025 market report indicated a 145% quarter-on-quarter increase in global data center GPU shipments, while PC GPU shipments showed modest growth [3] - The ITC initiated a "337 investigation" into specific LCD devices and components, involving several Chinese companies and international firms [3] - GSMA's latest report warned that the mid-band spectrum required for 6G networks will be two to three times the currently available spectrum, urging governments to develop policies to avoid capacity bottlenecks in the 2030s [3]