大华股份公告，公司拟对募投项目"人工智能技术研发及应用研究项目"、"5G、物联网及多维感知产品 方案研发项目"及"杭州智能制造基地二期建设项目"结项，并将节余募集资金共计约1.34亿元永久补充 流动资金。截至2025年11月14日，人工智能项目节余金额为1.2亿元，5G物联网项目节余金额为1421.67 万元，制造二期项目节余金额为8.64万元。 ...

中国国际金融股份有限公司 关于 浙江大华技术股份有限公司分拆所属子公司 浙江华睿科技股份有限公司 至香港联交所主板上市的核查意见 独立财务顾问 2025年11月 1 中国国际金融股份有限公司 关于浙江大华技术股份有限公司分拆所属子公司 浙江华睿科技股份有限公司至香港联交所主板上市的核查意见 根据中国证券监督管理委员会（以下简称"中国证监会"）《上市公司分拆规则 （试行）》（以下简称"《分拆规则》"），以及浙江大华技术股份有限公司（以下简称 "大华股份"、"上市公司"）于 2021 年 9 月 28 日召开的第七届董事会第二十一次 会议审议通过的《关于筹划控股子公司分拆上市的议案》、于 2025 年 7 月 15 日召 开的第八届董事会第十四次会议及第八届监事会第十次会议审议通过的《关于控股 子公司调整至境外上市的议案》、于 2025 年 11 月 17 日召开的第八届董事会第十八 次会议及第八届监事会第十四次会议审议通过的《关于分拆所属子公司浙江华睿科 技股份有限公司至香港联合交易所有限公司主板上市符合相关法律、法规规定的议 案》《关于分拆所属子公司浙江华睿科技股份有限公司首次公开发行 H 股股票并在 香港联 ...

Market Overview - The computer equipment sector saw a slight increase of 0.02% on November 17, with Zhongfu Information leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Zhongfu Information (300659) closed at 17.82, up 20.00% with a trading volume of 357,300 shares and a transaction value of 605 million [1] - Dahua Intelligent (002512) closed at 5.90, up 10.07% with a trading volume of 2,631,700 shares and a transaction value of 1.519 billion [1] - Meishi Technology (001229) closed at 40.76, up 10.01% with a trading volume of 46,100 shares and a transaction value of 183 million [1] - Other notable performers include Shengshi Technology (002990) up 9.99%, Zhaori Technology (300333) up 7.30%, and Suzhou Keda (603660) up 6.94% [1] Capital Flow - The computer equipment sector experienced a net inflow of 421 million from institutional investors, while retail investors saw a net outflow of 263 million [2] - The main capital inflow and outflow for specific stocks indicate varying investor sentiment, with Dahua Intelligent seeing a net inflow of 333 million from main capital but a net outflow from retail investors [3] Individual Stock Analysis - Dahua Intelligent (002512) had a main capital net inflow of 333 million, representing 21.94% of its total trading, while retail investors had a net outflow of 1.93 billion [3] - Zhongfu Information (300659) had a main capital net inflow of 105 million, accounting for 17.31% of its trading, with retail investors experiencing a net outflow of 659.5 million [3] - Shengshi Technology (002990) saw a main capital net inflow of 119 million, which is 25.30% of its trading, while retail investors had a net outflow of 684.5 million [3]

11月17日，大华股份盘中下跌2.04%，截至13:58，报19.16元/股，成交6.48亿元，换手率1.59%，总市值 629.74亿元。 资金流向方面，主力资金净流出1.11亿元，特大单买入4515.72万元，占比6.97%，卖出1.36亿元，占比 21.03%；大单买入1.46亿元，占比22.48%，卖出1.66亿元，占比25.61%。 大华股份今年以来股价涨23.26%，近5个交易日跌4.49%，近20日涨2.08%，近60日涨13.98%。 分红方面，大华股份A股上市后累计派现90.98亿元。近三年，累计派现51.72亿元。 机构持仓方面，截止2025年9月30日，大华股份十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股9527.31万股，相比上期增加2826.65万股。华夏中证机器人ETF（562500）位居第四大流 通股东，持股5451.37万股，相比上期增加1017.67万股。中国证券金融股份有限公司位居第五大流通股 东，持股3961.12万股，持股数量较上期不变。华泰柏瑞沪深300ETF（510300）位居第六大流通股东， 持股3385.71万股，相比上期减少145.97万股。 ...

长江商报记者发现，2008年上市以来，大华股份累计派发现金分红97亿元，派息融资比148.98%。 大华股份主营安防视频监控产品的研发、生产和销售，近年来，公司加码人工智能领域布局。为此，公司研发投 入不菲。 行业龙头大华股份（002236.SZ）继续通过二级市场回购股份。 11月12日晚，大华股份公告，截至2025年11月12日，公司累计回购公司股份约 3330.09万股（含2023年回购的股 份），占总股本的1.01%，累计成交金额约6.55亿元。公司回购计划将继续进行。 长江商报消息 ●长江商报记者 沈右荣 2023年8月25日，大华股份曾公告，公司使用自有资金以集中竞价交易的方式回购公司部分股份用于实施股权激励 或员工持股计划，回购资金总额不低于4亿元且不超过6亿元，回购价格不超过31.71元/股。 2023年10月31日，大华股份披露回购股份进展，当年8月30日至10月27日期间，公司累计回购公司股份1981.96万 股，占公司当时总股本的 0.60%，最高成交价为 21.70 元/股，最低成交价为19.70元/股，成交总金额约为4.20亿元 （不含交易费用）。 由此可见，2025年的回购股份计划， ...

November 14, 2025 05:45 PM GMT Investor Presentation | Asia Pacific Greater China Technology Hardware: AI Tech Hardware in High Gear M Foundation Morgan Stanley Taiwan Limited+ Sharon Shih Equity Analyst Sharon.Shih@morganstanley.com +886 2 2730-2865 Morgan Stanley Asia Limited+ Andy Meng, CFA Equity Analyst Andy.Meng@morganstanley.com +852 2239-7689 Morgan Stanley Taiwan Limited+ Derrick Yang Equity Analyst Derrick.Yang@morganstanley.com +886 2 2730-2862 Howard Kao Equity Analyst Howard.Kao@morganstanley.c ...

Core Viewpoint - The A-share market experienced a strong rebound on November 13, particularly in the hard technology sector, with the Robot ETF Fund (159213) rising over 1% and attracting significant net inflows of 9 million yuan on the same day, following a total of over 30 million yuan in net inflows over the previous five days [1][3]. Group 1: Market Performance - The Robot ETF Fund (159213) ended the day with a gain of over 1%, marking the end of a three-day decline [1]. - The fund has seen continuous strong capital inflow, with a total of over 30 million yuan in net inflows over the last five days [1]. - Key component stocks of the Robot ETF Fund showed positive performance, with several stocks, including Dahua Technology and Zhongkong Technology, rising by over 2% and 1% respectively [3]. Group 2: Component Stocks - The top ten component stocks of the Robot ETF Fund include: - Huichuan Technology (300124) with a gain of 1.26% and an estimated weight of 10.22% - Keda Xunfei (002230) with a gain of 0.63% and an estimated weight of 9.25% - Dahua Technology (002236) with a gain of 2.20% and an estimated weight of 5.26% [4]. Group 3: Industry Developments - Yushu Technology launched a full-stack solution for humanoid robot data collection training, featuring the G1-D robot, which is designed for various applications [5]. - UBTECH announced the mass production of its Walker S2 humanoid robots, with a delivery target of 500 units this year, contributing to a cumulative order amount exceeding 800 million yuan for the Walker series [5]. - Industry experts predict that 2026 will mark a significant turning point for the humanoid robot industry, akin to the "iPhone moment," leading to large-scale production and benefiting companies across the supply chain [6]. Group 4: Future Outlook - The robot sector is expected to enter a phase of validation and consolidation after significant adjustments in October, with key developments from companies like Tesla and others supporting market expectations [7]. - Domestic robot companies are accelerating their capitalizations, with notable IPO plans from Yushu Technology and Leju Robotics, indicating a critical moment for the industry [8]. - Major tech players are intensifying their focus on humanoid robots, with expectations for significant production increases by 2026, potentially reaching a shipment volume of "ten thousand units" for domestic robots [8].

Core Viewpoint - The global AI industry is experiencing a bearish impact due to recent negative comments, while the domestic AI sector shows resilience, particularly in application stocks [1] Group 1: Market Performance - The AI ETF (515070) saw a slight decline of 0.8%, but stocks like Beijing Junzheng rose over 4%, with other companies such as Stone Technology, Deepin Technology, Qihoo 360, and Dahua Technology performing well [1] - In the third quarter, public funds and northbound capital reached a historical high in their holdings of the communication sector, with AI computing power being a significant contributor to this increase [1] Group 2: Industry Developments - On November 10, Intel's AI infrastructure head Sachin Katti moved to OpenAI, indicating an intensifying competition for AI talent globally [1] - Meituan launched its first AI programming assistant, CatPaw, which focuses on agent collaboration and large-scale code generation, marking a significant step in the domestic "AI + software engineering" sector [1] Group 3: Investment Recommendations - With the decline in inference costs driven by open-source models like DeepSeek, there is a simultaneous release in demand for domestic 1.6T optical modules, liquid-cooled servers, and AI power supplies [1] - It is recommended to pay attention to leading companies in the infrastructure segments such as IDC, servers, and domestic computing chips [1] Group 4: ETF Composition - The AI ETF (515070) tracks the CS AI theme index (930713), selecting component stocks that provide technology, basic resources, and application end stocks, focusing on the midstream and upstream of the AI industry chain [2] - The top ten weighted stocks include leading domestic technology companies such as Zhongji Xuchuang, Xinyi Sheng, Cambrian, Zhongke Shuguang, iFlytek, OmniVision, Hikvision, Lanke Technology, Kingsoft, and Unisplendour [2]

Core Viewpoint - Dahua Technology (002236) announced on November 12 that it has repurchased a total of 33,300,901 shares through a dedicated securities account via centralized bidding, with the repurchase period ending on November 12, 2025 [1] Summary by Category - **Company Actions** - The company has engaged in a share repurchase program, accumulating 33,300,901 shares [1]

格隆汇11月12日丨大华股份(002236.SZ)公布，截至2025年11月12日，公司通过回购股份专用证券账户 以集中竞价方式累计回购公司股份33,300,901股（含公司于2023年8月30日至2023年10月27日期间回购的 19,819,601股公司股份，具体内容详见公司于2023年10月31日在巨潮资讯网披露的《关于回购公司股份 实施完成暨股份变动的公告》），累计占公司总股本的1.01%，最高成交价为21.7元/股，最低成交价为 15.16元/股，累计成交总金额为65,505.68万元（不含交易费用）。本次回购符合相关法律法规的要求， 符合既定的回购股份方案。 ...