Group 1 - The company announced that its shareholder, Shenzhen Shenzhou Tong Investment Group Co., Ltd., has released part of its pledged shares [1] - As of the announcement date, the total number of pledged shares by the controlling shareholder and its concerted parties is 29,590,000 shares, accounting for 4.85% of their holdings and 2.39% of the company's total share capital, with a corresponding financing balance of 130 million yuan [2] - The controlling shareholder and its concerted parties have a good credit status and sufficient repayment ability, with no current risks of forced liquidation or changes in actual control [2]

Market Overview - On September 5, the professional chain sector increased by 1.46% compared to the previous trading day, with Jifeng Technology leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Stock Performance - Jifeng Technology (300022) closed at 8.53, with a rise of 3.77% and a trading volume of 252,700 shares, amounting to a transaction value of 212 million yuan [1] - Yanshida (002416) closed at 12.06, up 2.81%, with a trading volume of 252,200 shares and a transaction value of 300 million yuan [1] - Doctor Glasses (300622) closed at 34.96, up 2.28%, with a trading volume of 109,600 shares and a transaction value of 378 million yuan [1] - Tianyin Holdings (000829) closed at 9.90, up 2.06%, with a trading volume of 165,800 shares and a transaction value of 162 million yuan [1] - Huazhi Wine (300755) closed at 17.63, up 1.32%, with a trading volume of 66,500 shares and a transaction value of 115 million yuan [1] - Aiyingshi (603214) closed at 18.92, up 0.16%, with a trading volume of 58,700 shares and a transaction value of 110 million yuan [1] - Kids Wang (301078) closed at 11.90, down 0.83%, with a trading volume of 514,700 shares and a transaction value of 605 million yuan [1] Capital Flow Analysis - The professional chain sector experienced a net outflow of 10.57 million yuan from institutional investors, while retail investors saw a net inflow of 17.32 million yuan [1] - Jifeng Technology had a net inflow of 19.79 million yuan from institutional investors, but a net outflow of 18.66 million yuan from retail investors [2] - Yanshida saw a net inflow of 6.99 million yuan from institutional investors, with a net outflow of 14.36 million yuan from speculative funds and a net inflow of 0.74 million yuan from retail investors [2] - Doctor Glasses had a net outflow of 6.52 million yuan from institutional investors, while retail investors contributed a net inflow of 10.97 million yuan [2] - Kids Wang experienced a significant net outflow of 30.06 million yuan from institutional investors, but retail investors contributed a net inflow of 26.58 million yuan [2]

Group 1 - The company Shenzhen Aishide Co., Ltd. received a notification from its shareholder Shenzhenshi Shenzhoutong Investment Group Co., Ltd. regarding the release of part of its pledged shares on September 5, 2025 [1][2] - The total number of shares released from pledge by Shenzhoutong Investment is 489,464,303 shares, which accounts for 39.50% of its holdings and 15.12% of the total share capital of the company [2][3] - As of the announcement date, the total pledged shares by the shareholder and its concerted parties amount to 609,954,734 shares, representing 49.22% of their total holdings [3][4] Group 2 - The controlling shareholder and its concerted parties have a pledged share ratio of 4.85%, which corresponds to a financing balance of 130 million yuan [3][4] - The total number of pledged shares due within one year is 115,270,000 shares, accounting for 18.90% of their holdings and 9.30% of the company's total share capital, with a financing balance of 410 million yuan [3][4] - The company has indicated that the pledge risk is under control, with no occurrence of forced liquidation or changes in actual control [4]

深圳市爱施德股份有限公司（以下简称"公司"）于 2025 年 9 月 5 日接到公司股东深 圳市神州通投资集团有限公司（以下简称"神州通投资"）的通知，神州通投资将其持有的 公司部分股份进行了解除质押，具体事项如下： 一、股东股份解除质押基本情况 | 股东 名称 | 是否为控股股 东或第一大股 东及其一致行 | 本次解除 质押数量 | 占其所持 股份比例 | 占公司 总股本 比例 | 质押 起始日 | 质押 解除日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 动人 | （股） | （%） | （%） | | | | | 深圳市神州通投 | 是 | 15,650,000 | 3.20 | 1.26 | 2023 年 9 月 | 2025 年 9 月 | 中银国际证 券股份有限 | | 资集团有限公司 | | | | | 日 6 | 日 4 | 公司 | 二、股东股份累计被质押的情况 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | | | | 已质押股份 | | 未质押股份 | | | --- | - ...

Market Overview - The professional chain sector experienced a decline of 2.84% on September 3, with Jifeng Technology leading the drop [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Individual Stock Performance - Notable declines in individual stocks include: - Doctor Glass: closed at 33.70, down 2.49% [1] - Yuan Shide: closed at 11.66, down 2.67% [1] - Aiying Room: closed at 18.41, down 2.80% [1] - Tianyin Holdings: closed at 9.68, down 2.81% [1] - Huazhi Wine: closed at 17.41, down 2.85% [1] - Kids Wang: closed at 11.64, down 2.92% [1] - Jifeng Technology: closed at 8.01, down 3.73% [1] Capital Flow Analysis - The professional chain sector saw a net outflow of 127 million yuan from main funds, while retail investors contributed a net inflow of approximately 99.98 million yuan [1] - Specific capital flows for individual stocks include: - Huazhi Wine: main funds net inflow of 5.61 million yuan, retail net outflow of 10.29 million yuan [2] - Aiying Room: main funds net outflow of 7.75 million yuan, retail net inflow of 9.25 million yuan [2] - Jifeng Technology: main funds net outflow of 10.15 million yuan, retail net outflow of 10.11 million yuan [2] - Tianyin Holdings: main funds net outflow of 18.74 million yuan, retail net inflow of 12.13 million yuan [2] - Doctor Glass: main funds net outflow of 18.87 million yuan, retail net inflow of 12.27 million yuan [2] - Yuan Shide: main funds net outflow of 24.80 million yuan, retail net inflow of 21.07 million yuan [2] - Kids Wang: main funds net outflow of 52.46 million yuan, retail net inflow of 65.67 million yuan [2]

Group 1 - The stock price of Aishide has declined for four consecutive days, with a total drop of 7.46% during this period, currently trading at 11.66 CNY per share [1] - Aishide's main business includes digital distribution and digital retail, with revenue composition being 88.83% from communication products, 10.75% from non-communication products, and 0.42% from other main revenues [1] - The company is located in Nanshan District, Shenzhen, and was established on June 8, 1998, with its listing date on May 28, 2010 [1] Group 2 - E Fund's index dividend ETF (515180) is among the top ten circulating shareholders of Aishide, having reduced its holdings by 632,600 shares in the second quarter, now holding 4,561,100 shares, which is 0.37% of the circulating shares [2] - The estimated floating loss for E Fund's index dividend ETF today is approximately 1.4595 million CNY, with a total floating loss of 4.2874 million CNY during the four-day decline [2] - The fund was established on November 26, 2019, with a current scale of 8.302 billion CNY, and has a year-to-date return of 3.57% [2] Group 3 - The fund managers of E Fund's index dividend ETF are Lin Weibin and Song Zhaoxian, with Lin having a tenure of 12 years and 185 days and a best fund return of 69.86% during his tenure [3] - Song Zhaoxian has a tenure of 5 years and 0 days, achieving a best fund return of 80.69% during his management [3] - The total asset scale of Lin Weibin's fund is 106.5 billion CNY, while Song Zhaoxian's fund has a total asset scale of 28.905 billion CNY [3]

Market Overview - The professional chain sector experienced a decline of 2.99% on September 2, with Aishide leading the drop [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Individual Stock Performance - Aige Shi (603214) closed at 18.94, down 1.76% with a trading volume of 50,800 shares and a turnover of 96.61 million yuan [1] - Jifeng Technology (300022) closed at 8.32, down 1.89% with a trading volume of 150,800 shares and a turnover of 126 million yuan [1] - Huazhi Wine (300755) closed at 17.92, down 2.13% with a trading volume of 102,700 shares and a turnover of 186 million yuan [1] - Haizi Wang (301078) closed at 66.11, down 2.76% with a trading volume of 500,600 shares and a turnover of 605 million yuan [1] - Doctor Glasses (300622) closed at 34.56, down 3.44% with a trading volume of 125,100 shares and a turnover of 434 million yuan [1] - Tianyin Holdings (000829) closed at 9.96, down 3.58% with a trading volume of 336,900 shares and a turnover of 337 million yuan [1] - Aishide (002416) closed at 11.98, down 3.62% with a trading volume of 341,200 shares and a turnover of 413 million yuan [1] Capital Flow Analysis - The professional chain sector saw a net outflow of 260 million yuan from main funds, while retail investors contributed a net inflow of 233 million yuan [1] - The capital flow for individual stocks indicates that Jifeng Technology had a main fund net inflow of 2.47 million yuan, while Aishide experienced a net outflow of 46.23 million yuan [2] - Doctor Glasses had a significant main fund net outflow of 57.89 million yuan, while retail investors contributed a net inflow of 69.07 million yuan [2]

Core Points - The 11th Jin Qilin Golden Secretary Honor Roll was announced on September 1, recognizing outstanding corporate secretaries in the industry [1] - Wu Hainan, the Secretary of the Board of Directors of Aishide, was awarded the title of Jin Qilin Golden Secretary Hall of Fame for his exceptional professional capabilities and performance [1][2] - The Jin Qilin Golden Secretary evaluation focuses on the quality of information disclosure, effectiveness of investor communication, and contributions to corporate governance, ESG construction, and capital operations [1] Company and Industry Insights - Corporate secretaries play a crucial role as a bridge between listed companies and the capital market, acting as gatekeepers for corporate governance and strategic advisors for capital strategies [1][2] - The recognition of Wu Hainan reflects the market's high regard for Aishide's governance level and value growth, highlighting the importance of effective communication and compliance in the current market environment [2]

Investment Rating - The report maintains a "Buy" investment rating for the company [9] Core Views - The company is expected to benefit from the upcoming release of the iPhone 17 series, coinciding with the consumer electronics peak season, which may lead to a sequential improvement in performance [6][8] - The company has faced challenges in the first half of 2025, with a significant decline in revenue and net profit, attributed to a decrease in market share and adjustments in business structure [5][8] Financial Performance Summary - For the first half of 2025, the company reported revenue of 253.70 billion yuan, a year-on-year decrease of 34.69%, and a net profit of 2.22 million yuan, down 43.98% year-on-year [4] - In Q2 2025, revenue was 126.33 billion yuan, a year-on-year decline of 26.52%, and net profit was 0.95 billion yuan, down 58.06% year-on-year [5] - The company’s gross margin for Q2 2025 was 4.76%, showing a year-on-year increase of 0.8 percentage points [5] Strategic Partnerships and Market Position - The company maintains long-term strategic partnerships with major brands like Apple, Honor, and Samsung, and has the largest number of self-operated Apple APR stores in China [8] - As of the first half of 2025, the company added 36 self-operated Apple APR stores, bringing the total to 236, solidifying its leading position in the APR channel [8] Earnings Forecast - The company’s projected revenues for 2025, 2026, and 2027 are 711.52 billion yuan, 782.67 billion yuan, and 853.12 billion yuan respectively, with corresponding EPS of 0.54 yuan, 0.66 yuan, and 0.71 yuan [9][11]

Core Insights - Aishide's stock price decreased by 1.03% on August 29, with a trading volume of 248 million yuan [1] - The company reported a net financing outflow of 11.59 million yuan on the same day, indicating a low level of investor confidence [1] - As of June 30, 2025, Aishide's revenue decreased by 34.69% year-on-year, and net profit dropped by 43.98% [2] Financing and Trading Activity - On August 29, Aishide had a financing buy-in of 18.55 million yuan and a financing repayment of 30.14 million yuan, resulting in a net financing buy-in of -11.59 million yuan [1] - The total financing and securities lending balance for Aishide was 673 million yuan, with financing balance accounting for 4.34% of the circulating market value, which is below the 20th percentile level over the past year [1] - The company had a securities lending balance of 1.38 million yuan, which is also below the 40th percentile level over the past year [1] Company Performance and Shareholder Information - As of June 30, 2025, Aishide had 85,700 shareholders, an increase of 2.87% from the previous period, while the average number of circulating shares per person decreased by 2.79% [2] - Cumulatively, Aishide has distributed 4.045 billion yuan in dividends since its A-share listing, with 1.735 billion yuan distributed in the last three years [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which reduced its holdings by 10.89 million shares, and Southern CSI 1000 ETF, which increased its holdings by 1.31 million shares [2]