Core Viewpoint - Wuhan Fanggu (002194.SZ) announced the completion of the share reduction plan by its controlling shareholders and their concerted actors, which involved a total reduction of up to 20.5 million shares, accounting for 3% of the total share capital [1][2]. Group 1: Share Reduction Plan - The controlling shareholder, Meng Qingnan, and his concerted actor, Meng Fanbo, planned to reduce their shares from November 11, 2025, to February 6, 2026, with a total reduction not exceeding 20,498,574 shares [1]. - Meng Qingnan intended to reduce up to 10,714,039 shares (1.5680% of total share capital), while Meng Fanbo planned to reduce up to 9,784,535 shares (1.4320% of total share capital) [1]. Group 2: Implementation Progress - As of February 6, 2026, the share reduction plan was completed, with Meng Qingnan reducing 6,514,300 shares (0.9534% of total share capital) at an average price of 12.61 CNY per share, and Meng Fanbo reducing 5,025,500 shares (0.7355% of total share capital) at an average price of 11.98 CNY per share [2][3]. - The total shares reduced by both individuals amounted to 11,539,800 shares (1.6889% of total share capital), resulting in approximately 142 million CNY in cash proceeds [2].

Core Viewpoint - The controlling shareholders of Wuhan Fangu, Meng Qingnan and Meng Fanbo, have completed a share reduction plan, selling a total of 11.5398 million shares, which accounts for 1.6889% of the company's total share capital [1] Group 1 - Meng Qingnan reduced his holdings by 6.5143 million shares, representing 0.9534% of the total shares [1] - Meng Fanbo reduced his holdings by 5.0255 million shares, representing 0.7355% of the total shares [1] - The initial plan was to reduce a maximum of 20.4986 million shares, or 3% of the total shares, which has now been fully executed [1]

关于控股股东及其一致行动人股份减持计划实施完毕的公告 证券代码：002194 证券简称：武汉凡谷 公告编号：2026-002 武汉凡谷电子技术股份有限公司 关于控股股东及其一致行动人股份减持计划实施完毕的公告 控股股东、实际控制人孟庆南先生、王丽丽女士及其一致行动人孟凡博先生、 王凯先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 武汉凡谷电子技术股份有限公司（以下简称"公司"）于 2025 年 10 月 21 日披露了《关于控股股东及其一致行动人减持股份的预披露公告》（以下简称"预 披露公告"，公告编号：2025-038）。公司控股股东、实际控制人之一孟庆南先生 及其一致行动人孟凡博先生（现任公司董事长）计划自预披露公告披露之日起 15 个交易日后的 3 个月内（即：2025 年 11 月 11 日至 2026 年 2 月 6 日，法定禁 止减持期间除外）以集中竞价交易方式、大宗交易方式合计减持本公司股份不超 过 2,049.8574 万股（即不超过公司总股本的 3%），其中孟庆南先生计划减持本 公司股 ...

Group 1 - The company produces high-power microwave filters for low Earth orbit satellites, operating in the Ku and Ka frequency bands [2] - The company's production capacity is flexible and currently meets customer demand [2]

Core Viewpoint - Wuhan Fangu announced that its high-power microwave filters are sold to downstream module manufacturers and applied in low Earth orbit satellites, but the current contract amounts are small and do not significantly impact the company's current performance [1] Group 1: Product Development and Market Strategy - The company emphasizes the importance of developing and utilizing new products and technologies [1] - It will continue to track industry technology development trends and align with market demands and its core competencies [1] - The company aims to conduct relevant research and technical reserves to create favorable conditions for future development [1]

Core Viewpoint - Wuhan Fangu (002194.SZ) is focusing on the development and application of new products and technologies, particularly high-power microwave filters for low Earth orbit satellites, although current contract amounts are small and do not significantly impact the company's performance [1] Group 1: Product Development - The company produces high-power microwave filters that are sold to downstream module manufacturers [1] - These filters are specifically applied in low Earth orbit satellite technology [1] Group 2: Financial Impact - The current contracts related to these products involve small amounts and do not have a significant effect on the company's current performance [1] Group 3: Strategic Focus - The company emphasizes the importance of developing new products and technologies [1] - It will continue to monitor industry technology trends and align with market demands and its core competencies [1] - The company aims to conduct relevant research and technical reserves to create favorable conditions for future development [1]

Core Viewpoint - The company emphasizes its commitment to the development and application of new products and technologies, particularly in relation to 6G technology, to create favorable conditions for future growth [1] Group 1 - The company is actively tracking the developments in 6G technology [1] - The company is focused on conducting preliminary research and technical reserves related to 6G [1] - The company aims to ensure a strong foundation for its future development through these efforts [1]

Group 1 - The company expects a net profit to be negative for the fiscal year 2025, which spans from January 1, 2025, to December 31, 2025 [1] - The preliminary financial data for the performance forecast has not been audited by the accounting firm, but there are no significant disagreements between the company and the auditors regarding the forecast [1] - The decline in performance is attributed to intense market competition in the radio frequency device industry, significant price pressure from customers, and a rise in the prices of bulk metal raw materials, leading to a decrease in overall gross margin [1] Group 2 - The company has implemented cost reduction and efficiency improvement measures, but these efforts have not fully mitigated the impact of price reductions and rising raw material costs on profits [1] - The specific financial data will be detailed in the company's annual report for 2025 [2]

Group 1 - The company expects a net profit loss for the fiscal year 2025, with the performance period from January 1, 2025, to December 31, 2025 [1] - The preliminary financial data for the performance forecast has not been audited by the accounting firm, but there are no significant disagreements between the company and the auditors regarding the forecast [1][2] Group 2 - The decline in performance is attributed to intense competition in the radio frequency device industry, leading to significant price pressure from customers and an increasing proportion of low-margin products [2] - The prices of bulk metal raw materials required for production have risen sharply during the reporting period, which the company has been unable to fully offset despite efforts to reduce costs and improve efficiency [2]

Core Viewpoint - Wuhan Fangu Electronics Technology Co., Ltd. anticipates a significant decline in net profit for the fiscal year 2025, projecting a loss between 10 million to 15 million yuan compared to a profit of 53.25 million yuan in the previous year [2] Financial Performance - The company expects a net profit loss of 23 million to 28 million yuan after deducting non-recurring gains and losses, down from a profit of 39.91 million yuan in the previous year [2] - The anticipated losses represent a substantial year-on-year decline in profitability [2] Industry Context - The radio frequency device industry continues to experience intense market competition, leading to significant pricing pressure from customers on the company's main products [2] - The proportion of low-margin products in the company's overall sales has been increasing due to competitive pressures [2] Cost Factors - The prices of bulk metal raw materials required for production have surged significantly during the reporting period [2] - Despite the company's efforts to reduce costs and improve efficiency, these measures have not fully offset the impacts of substantial price reductions on products and rising raw material costs [2] - The overall gross margin has declined, contributing to the expected losses for the fiscal year 2025 [2]