Market Overview - The A-share market experienced fluctuations on January 15, with the Shanghai Composite Index briefly falling below 4100 points before recovering at the close. The Shanghai Composite Index fell by 0.33%, while the Shenzhen Component Index rose by 0.41%, and the ChiNext Index increased by 0.56% [1] - The total trading volume in the Shanghai and Shenzhen markets was 29.388 billion yuan, significantly down by over 10 billion yuan compared to the previous day [1] Sector Performance Electronics Sector - The electronics sector saw a strong rally in the afternoon, with the electronic ETF (515260) rising by 1.88%, recovering its 5-day moving average. The sector attracted a net inflow of 16.862 billion yuan from institutional investors, leading all 31 primary industries [3][6] - Key stocks in the electronics sector included Unigroup Guowei, which hit a daily limit up of 10%, and Huazhong Microelectronics, which rose by 7.58% [4][5] Chemical Sector - The chemical sector also performed well, with the chemical ETF (516020) reaching a peak increase of 2.42% during the day and closing up by 1.43%, marking a new three-year high. The sector attracted 14.7 billion yuan in net inflows, leading the market [9][11] - Notable stocks included Tongcheng New Materials, which hit the daily limit up, and Hongda Co., which surged by 6.25% [9][13] AI and Robotics Sector - The AI and robotics sectors faced some challenges, with the general aviation ETF (159231) dropping by 3.56%. However, the ChiNext AI ETF (159363) and the Sci-Tech AI ETF (589520) also saw declines, indicating a mixed performance in this area [1][15] Investment Insights - Analysts from Huajin Securities believe that the recent adjustment of financing margin ratios will have a limited impact on A-share trends, as the market is currently in a slow bull phase supported by structural recovery in profits and low credit levels [2] - The electronics sector is expected to benefit from the U.S. government's recent imposition of tariffs on certain semiconductors, which may enhance domestic substitution sentiment [6] - The chemical industry is anticipated to experience a rebound in profitability as supply-demand dynamics stabilize, with AI-driven production capabilities expected to lead to new growth opportunities [13][14]

Market Overview - The component sector experienced a decline of 1.22% on January 12, with Jingwang Electronics leading the drop [1] - The Shanghai Composite Index closed at 4165.29, up by 1.09%, while the Shenzhen Component Index closed at 14366.91, up by 1.75% [1] Stock Performance - Notable gainers included: - ST Huilun (300460) with a closing price of 9.02, up by 10.27% and a trading volume of 318,100 shares [1] - Dali Kipu (301566) closed at 22.87, up by 7.57% with a trading volume of 347,300 shares [1] - Gaohua Technology (688539) closed at 57.18, up by 7.14% with a trading volume of 144,300 shares [1] - Major decliners included: - Jingwang Electronics (603228) closed at 72.00, down by 3.76% with a trading volume of 391,900 shares [2] - Dongshan Precision (002384) closed at 78.44, down by 3.71% with a trading volume of 694,100 shares [2] - Shenghong Technology (300476) closed at 285.00, down by 3.32% with a trading volume of 138,600 shares [2] Capital Flow - The component sector saw a net outflow of 5.856 billion yuan from institutional investors, while retail investors contributed a net inflow of 4.026 billion yuan [2] - The detailed capital flow for selected stocks showed: - Jianghai Co. (002484) had a net inflow of 64.36 million yuan from institutional investors [3] - Jinlu Electronics (301282) experienced a net outflow of 57.47 million yuan from retail investors [3] - Mingyang Circuit (300739) had a net inflow of 28.13 million yuan from institutional investors [3]

览富财经网讯：1月9日，中国证监会公布最新一期《境外发行上市备案补充材料要求》，本周国际司共 对10家企业出具补充材料要求，其中对在今年11月18日，向港交所主板递交上市申请书的苏州东山精密 制造股份有限公司（简称：东山精密），证监会要求其需补充说明五项事项且需律师核查并出具明确的 法律意见。 四、请补充说明你公司境外子公司涉及的境外投资、外汇登记等监管程序具体履行情况，并就合规性出 具结论性意见。 五、请补充说明你公司境外募投项目详细情况及履行境外投资审批、核准或备案的情况。 二、请补充说明你公司及下属公司经营范围是否涉及《外商投资准入特别管理措施（负面清单）（2024 年版）》领域。 三、请补充说明本次发行完成前后，你公司控股股东、实际控制人持有发行人股份质押情况是否可能导 致重大权属纠纷，或导致发行人控股股东发生变化。 具体事项为： 一、请补充说明你公司医疗器械生产、佣金代理、信息技术及社会经济咨询服务、太阳能产品系统的生 产安装销售、太阳能工业技术研究咨询服务等业务开展情况，是否取得必要的资质许可。 ...

Group 1 - The China Securities Regulatory Commission (CSRC) has announced supplementary material requirements for 23 companies regarding their overseas issuance and listing [1][2][3] - Specific companies such as Huafu Technology and Shanjin International have been highlighted for particular concerns regarding shareholder relationships and safety production incidents [1][2][3] - The supplementary materials are aimed at ensuring compliance with regulations and addressing potential issues that may affect the companies' ability to list [1][2][3] Group 2 - Companies like Shichuang Securities and Zhineng Technology are required to clarify the status of state-owned shareholder identification and trust arrangements [2][3] - For Xiangdao Travel, there are inquiries about the actual operations of various services and whether necessary qualifications have been obtained [2][3] - Bo Rui Pharmaceutical is asked to provide details on its business operations related to health food sales and medical research, including necessary licenses [2][3] Group 3 - Guoxin Services must explain the status of significant litigation cases and their potential impact on future operations and the current issuance [3][4] - Hi Learning Network is required to clarify compliance with labor and social insurance regulations, as well as the status of pending lawsuits and administrative penalties [4][5] - Tian Nong Group needs to address compliance issues regarding animal husbandry licenses and environmental permits, which may pose significant legal risks [5][6] Group 4 - Companies like Fengjiang Management and Mingyu Pharmaceutical are required to provide legal opinions on their compliance with foreign investment regulations and the legitimacy of their capital structures [7][8][9] - Specific inquiries include the legitimacy of shareholding structures and the compliance of fundraising activities with regulatory requirements [7][8][9] - The focus is on ensuring that all companies meet the necessary legal and regulatory standards for their overseas listings [7][8][9]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 10 companies, including Dongshan Precision (002384.SZ), which is preparing for a listing on the Hong Kong Stock Exchange [1][2]. Group 1: Regulatory Requirements - Dongshan Precision is required to provide detailed explanations regarding its medical device production, commission agency, IT and socio-economic consulting services, solar product system installation and sales, and solar industrial technology research consulting services, including necessary qualifications and licenses [1]. - The company must clarify whether its business scope involves areas listed in the "Negative List of Special Management Measures for Foreign Investment Access (2024 Edition)" [1]. - Dongshan Precision is asked to disclose the pledge status of shares held by its controlling shareholders and actual controllers before and after the issuance, and whether this could lead to significant ownership disputes or changes in control [1]. - The company needs to provide details on the regulatory procedures for overseas investments and foreign exchange registration related to its overseas subsidiaries, along with a conclusive opinion on compliance [1]. Group 2: Company Profile - Dongshan Precision is recognized as the world's largest supplier of edge AI device PCBs, with products primarily used in smartphones, personal computers, automobiles, industrial applications, and IoT devices, and is rapidly expanding its capabilities into the data center terminal market [2].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 10 companies, including Dongshan Precision (002384), which is preparing for a listing on the Hong Kong Stock Exchange [1][2] Group 1: Regulatory Requirements - Dongshan Precision is required to provide detailed explanations regarding its medical device production, commission agency, IT and socio-economic consulting services, solar product system installation and sales, and solar industrial technology research consulting services, including necessary qualifications and licenses [1] - The company must clarify whether its business scope involves areas listed in the "Special Management Measures for Foreign Investment Access (Negative List) (2024 Edition)" [1] - Dongshan Precision is asked to explain the pledge status of shares held by its controlling shareholders and actual controllers before and after the issuance, and whether this could lead to significant ownership disputes or changes in control [1] - The company needs to detail the compliance status of its overseas subsidiaries regarding foreign investment and foreign exchange registration procedures, providing conclusive legal opinions [1] Group 2: Company Profile - Dongshan Precision is recognized as the world's largest PCB supplier for edge AI devices, with products primarily used in smartphones, personal computers, automobiles, industrial applications, and IoT devices, and is rapidly expanding its capabilities into the data center terminal market [2]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 10 companies, including Dongshan Precision (002384.SZ), which is preparing for a listing on the Hong Kong Stock Exchange. The company is required to clarify its operations in various sectors, including medical devices and solar products [1][2]. Group 1: Regulatory Requirements - Dongshan Precision is required to provide detailed explanations regarding its medical device production, commission agency, information technology and socio-economic consulting services, solar product system installation and sales, and solar industrial technology research consulting services, including necessary qualifications and licenses [1]. - The company must clarify whether its business scope involves areas listed in the "Negative List of Special Management Measures for Foreign Investment Access (2024 Edition)" [1]. - The CSRC has requested information on the pledge status of shares held by the company's controlling shareholders and actual controllers, assessing potential major ownership disputes or changes in control [1]. - Dongshan Precision is also required to detail the compliance of its overseas subsidiaries with foreign investment and foreign exchange registration regulations, providing conclusive legal opinions [1]. Group 2: Company Profile - Dongshan Precision is recognized as the world's largest supplier of edge AI device PCBs, with products primarily used in smartphones, personal computers, automobiles, industrial applications, and IoT devices. The company is rapidly expanding its capabilities into the data center terminal market [2].

Core Viewpoint - Dongshan Precision's stock price has experienced fluctuations, with a recent decline of 5.66% year-to-date and a 9.25% drop over the last five trading days, despite a 21.74% increase over the past 60 days [1]. Financial Performance - For the period from January to September 2025, Dongshan Precision achieved a revenue of 27.071 billion yuan, representing a year-on-year growth of 2.28%. The net profit attributable to shareholders was 1.223 billion yuan, reflecting a year-on-year increase of 14.61% [2]. Shareholder Information - As of December 31, the number of shareholders for Dongshan Precision was 81,700, a decrease of 9.90% from the previous period. The average circulating shares per person increased by 10.99% to 16,974 shares [2]. - The company has distributed a total of 1.544 billion yuan in dividends since its A-share listing, with 731 million yuan distributed over the last three years [3]. Institutional Holdings - As of September 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 68.7123 million shares, an increase of 5.2492 million shares from the previous period. New institutional shareholders include Ruiyuan Growth Value Mixed A and Xingquan Helun Mixed A, holding 21.3417 million shares and 11.7753 million shares, respectively [3].

Company Overview - Dongshan Precision Manufacturing Co., Ltd. is located in Suzhou, Jiangsu Province, and was established on October 28, 1998. It was listed on April 9, 2010. The company specializes in the manufacturing and service of precision sheet metal parts and precision castings, as well as flexible circuit board design, production, and sales [1]. Business Segmentation - The main business revenue composition is as follows: electronic circuit products account for 65.23%, touch panels and LCD display modules for 17.98%, precision components for 13.93%, LED display devices for 1.69%, and others for 1.17% [1]. Stock Performance - On January 6, Dongshan Precision's stock fell by 5.09%, closing at 80.35 yuan per share, with a trading volume of 2.414 billion yuan and a turnover rate of 2.13%. The total market capitalization is 147.17 billion yuan [1]. Fund Holdings - The Dongshan Precision stock is a significant holding in the Oriental Alpha Fund, specifically in the Oriental Alpha Select Mixed A Fund (005358), which reduced its holdings by 92,500 shares in the third quarter, now holding 88,700 shares, representing 2.99% of the fund's net value [2]. Fund Performance - The Oriental Alpha Select Mixed A Fund was established on February 8, 2018, with a current size of 178 million yuan. Year-to-date returns are 1.53%, ranking 5113 out of 8816 in its category, while the one-year return is 28.28%, ranking 4154 out of 8081. Since inception, the fund has a slight loss of 0.07% [2]. Fund Management - The fund manager of the Oriental Alpha Select Mixed A Fund is Wu Qiusheng, who has been in the position for 4 years and 306 days. The total asset size under management is 212 million yuan, with the best fund return during the tenure being 25.82% and the worst being -7.99% [3].

Group 1 - The core theme of the 2026 CES is edge AI, with terminal manufacturers in smartphones, PCs, and smart cars launching new products equipped with AI capabilities, accelerating the migration of AI from the cloud to devices [2] - The consumption electronics ETF closely tracks the CSI Consumer Electronics Theme Index, which selects 50 listed companies involved in component production and brand design to reflect the overall performance of the sector [2] - As of December 31, 2025, the top ten weighted stocks in the CSI Consumer Electronics Theme Index account for 54.35% of the index, including companies like Luxshare Precision, Cambricon, and BOE Technology Group [2] Group 2 - The CES event features significant presentations from industry leaders, including AMD's CEO Lisa Su and Lenovo's Chairman Yang Yuanqing, showcasing advancements in mixed AI technology [1] - NVIDIA will demonstrate its solutions driving innovation in various fields such as automotive, gaming, content creation, AI agents, physical AI, and robotics during CES [1]