Core Viewpoint - Victory Precision has shown a significant increase in trading activity, with a notable rise in financing buy-ins and a high financing balance, indicating strong investor interest despite a decline in net profit [1][2]. Group 1: Financial Performance - As of September 30, 2025, Victory Precision reported a revenue of 2.626 billion yuan, reflecting a year-on-year growth of 1.11% [2]. - The company experienced a net profit loss of 73.0963 million yuan, which represents a year-on-year decrease of 155.17% [2]. - Cumulative cash dividends since the A-share listing amount to 513 million yuan, with no dividends paid in the last three years [2]. Group 2: Shareholder and Market Activity - The number of shareholders decreased to 179,700, down by 28.23% compared to the previous period [2]. - The average number of circulating shares per shareholder increased by 39.34% to 18,938 shares [2]. - On November 11, 2023, the stock price rose by 2.29%, with a trading volume of 1.795 billion yuan, and a net financing buy of approximately 38.95 million yuan [1]. Group 3: Financing and Margin Trading - On November 11, 2023, the financing buy-in amounted to 168 million yuan, with a total financing balance of 622 million yuan, representing 5.12% of the circulating market value [1]. - The financing balance is above the 90th percentile of the past year, indicating a high level of investor engagement [1]. - There were no shares sold or repaid in the margin trading segment on the same day, with the margin balance also at zero, suggesting a lack of short selling activity [1]. Group 4: Business Overview - Victory Precision, established on December 5, 2003, and listed on June 8, 2010, operates primarily in the consumer electronics and automotive parts sectors [1]. - The revenue composition is as follows: consumer electronics at 68.87%, automotive parts at 29.93%, and other businesses at 1.21% [1].

Market Overview - The consumer electronics sector experienced a decline of 3.35% on November 11, with Yitian Co. leading the drop [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Notable gainers in the consumer electronics sector included: - Shiwai Dama (301626) with a closing price of 175.47, up 14.63% [1] - Xiangying Technology (301067) at 46.14, up 11.99% [1] - Aoni Electronics (301189) at 34.96, up 6.94% [1] - Major decliners included: - Yitian Co. (300812) at 27.17, down 5.50% [2] - Luyou Technology (301606) at 61.80, down 5.01% [2] - Industrial Fulian (601138) at 68.03, down 4.85% [2] Capital Flow - The consumer electronics sector saw a net outflow of 4.807 billion yuan from institutional investors, while retail investors contributed a net inflow of 4.338 billion yuan [2] - The capital flow for specific stocks showed: - Victory Precision (002426) had a net inflow of 101 million yuan from institutional investors [3] - Suzhou Tianmai (301626) saw a net inflow of 96.465 million yuan [3] - Common Electric Sound (002655) experienced a net outflow of 62.7125 million yuan from retail investors [3]

Group 1: Market Overview - A-shares experienced rapid rotation in hot sectors, with consumer stocks surging, particularly in food and beverage, liquor, and tourism, leading to significant gains for companies like China Duty Free and Jin Jiang Hotels [1] - The financial sector showed strength in the afternoon, with notable movements in brokerage and insurance stocks, exemplified by Northeast Securities hitting the daily limit [2][6] - The overall market saw the Shanghai Composite Index rise by 0.53% and the Shenzhen Component increase by 0.18%, while the ChiNext Index fell by 0.92% [2] Group 2: Trading Volume and Stock Performance - The total market turnover exceeded 2.19 trillion yuan, an increase of 174.2 billion yuan compared to the previous trading day [2] - Ten stocks had trading volumes exceeding 10 billion yuan, with Sunshine Power and Zhongji Xuchuang leading at over 16 billion yuan each [4] - Low-priced stocks continued to perform well, with several stocks experiencing rapid surges, including Shengli Precision, which hit the daily limit within five minutes of trading [9][10] Group 3: Financial Sector Insights - Research indicates that some leading brokerages achieved a quarterly return on equity (ROE) of around 3%, nearing historical highs, suggesting potential for record annual profitability if the market continues to rise [7][8] - The brokerage sector's stock performance is influenced by market cycles, with current policies focusing on enhancing the performance of leading firms [8] - Analysts recommend attention to undervalued Hong Kong brokerages and comprehensive brokerages that can leverage financial leverage to enhance shareholder returns [8] Group 4: Low-Priced Stocks Dynamics - Low-priced stocks have shown a cumulative increase of over 30% this year, with 23 stocks closing below 2 yuan, and only 2 stocks below 1 yuan [12] - Factors contributing to the strong performance of low-priced stocks include the entry of small capital investors and a tendency for low-priced stocks to follow small-cap stock trends [12][13]

Market Overview - The consumer electronics sector experienced a decline of 1.77% on November 10, with Tonglian Precision leading the drop [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance - Notable gainers in the consumer electronics sector included: - Shengli Precision (Code: 002426) with a closing price of 3.49, up 10.09% and a trading volume of 5,002,900 shares [1] - Yitian Co., Ltd. (Code: 300812) with a closing price of 28.75, up 7.48% and a trading volume of 128,500 shares [1] - Deep Technology (Code: 000021) with a closing price of 27.84, up 4.74% and a trading volume of 1,376,900 shares [1] - Conversely, significant decliners included: - Tonglian Xinyi (Code: 688210) with a closing price of 54.99, down 9.38% and a trading volume of 77,300 shares [2] - Kechuan Technology (Code: 603052) with a closing price of 35.18, down 6.96% and a trading volume of 178,700 shares [2] - Aohai Technology (Code: 002993) with a closing price of 45.00, down 6.27% and a trading volume of 78,700 shares [2] Capital Flow - The consumer electronics sector saw a net outflow of 4.776 billion yuan from institutional investors, while retail investors contributed a net inflow of 4.276 billion yuan [2][3] - The main capital inflow and outflow for selected stocks included: - Shengli Precision had a net inflow of 485 million yuan from main capital, while retail investors saw a net outflow of 373 million yuan [3] - Deep Technology had a net inflow of 455 million yuan from main capital, with a net outflow of 490 million yuan from retail investors [3] - Xiechuang Data (Code: 300857) had a net inflow of 111 million yuan from main capital, while retail investors experienced a net outflow of 120 million yuan [3]

Market Overview - The Shanghai Composite Index closed at 4018.60 points, above the six-month moving average, with an increase of 0.53% [1] - The total trading volume of A-shares reached 2,194.371 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 228 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Shengli Precision (002426) with a deviation rate of 7.83% and a daily increase of 10.09% [1] - Puhua Co., Ltd. (002225) with a deviation rate of 7.49% and a daily increase of 10.07% [1] - Zhongyuan He (600645) with a deviation rate of 6.98% and a daily increase of 8.86% [1] Additional Stocks with Smaller Deviation Rates - Stocks that have just crossed the six-month moving average with smaller deviation rates include: - Hengtai Lighting (recently above the six-month line) [1] - Yilida (recently above the six-month line) [1] - Fuanna (recently above the six-month line) [1] Summary of Stocks with Deviation Rates - A detailed ranking of stocks that broke the six-month moving average includes: - Haida Co., Ltd. (300320) with a deviation rate of 6.74% and a daily increase of 8.77% [1] - Shanxi Fenjiu (600809) with a deviation rate of 6.32% and a daily increase of 6.35% [1] - Kuaiyi Elevator (002774) with a deviation rate of 6.12% and a daily increase of 7.53% [1]

Market Overview - The Shanghai Composite Index closed at 4018.60 points, above the five-day moving average, with a gain of 0.53% [1] - The total trading volume of A-shares reached 2,194.371 billion yuan [1] Stocks Performance - A total of 1,028 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Jindike (金迪克) with a deviation rate of 13.94% and a daily increase of 20.01% [1] - Online and Offline (线上线下) with a deviation rate of 11.70% and a daily increase of 20.00% [1] - Taipeng Intelligent (泰鹏智能) with a deviation rate of 10.05% and a daily increase of 13.62% [1] Additional Stocks with Notable Performance - Other stocks with notable performance include: - Zhongfutong (中富通) with a daily increase of 12.67% and a deviation rate of 8.54% [1] - Peking University Pharmaceutical (北大医药) with a daily increase of 10.02% and a deviation rate of 7.89% [1] - Dike Co., Ltd. (帝科股份) with a daily increase of 10.95% and a deviation rate of 7.85% [1] Summary of Deviation Rates - The report includes a detailed ranking of stocks based on their deviation rates from the five-day moving average, highlighting both high and low performers [1][2]

Group 1 - The lithium battery sector is experiencing a strong rally, with electrolyte and lithium iron phosphate leading the gains. Stocks such as Fangyuan Co. and Huasheng Lithium have hit the daily limit up, while Haike Xinyuan surged over 18% [1] - Domestic lithium carbonate futures contracts have seen a significant increase, with the main contract rising over 6% to exceed 86,000 yuan/ton. Since the beginning of Q4 this year, the main contract has accumulated a nearly 20% increase [1] - Citigroup's report indicates a strong potential demand for batteries in the coming years, predicting a 31% year-on-year growth in battery demand by 2026. The resumption of mining at Jiangxiawo is unlikely to change the destocking trend, with an expected reduction of approximately 15,000 tons of lithium inventory by November 2025 [1] Group 2 - Notable stock performances include Fangyuan Co. with a 20.02% increase, Huasheng Lithium at 20.00%, and Haike Xinyuan at 18.20%. Other companies like Yicheng New Energy and Qingshuiyuan also showed significant gains [1] - Year-to-date performance highlights include Huasheng Lithium with a 297.78% increase, Fangyuan Co. at 117.98%, and Haike Xinyuan at 283.33%, indicating strong market interest and investor confidence in these stocks [1]

Core Points - The Shanghai Composite Index is at 3998.79 points, above the six-month moving average, with a slight increase of 0.03% [1] - A total trading volume of A-shares reached 1,083.642 billion yuan today [1] - 162 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Market Performance - The Shanghai Composite Index is currently at 3998.79 points, reflecting a minor increase of 0.03% [1] - The total trading volume for A-shares today is 1,083.642 billion yuan [1] Stocks Exceeding Six-Month Moving Average - 162 A-shares have crossed the six-month moving average, indicating positive market sentiment [1] - Stocks with the highest deviation rates include: - Zhongyuan Qihe (8.09%) - Shunwei Co., Ltd. (4.44%) - Anglikang (4.41%) [1] Detailed Stock Data - The following stocks have notable performance metrics: - Zhongyuan Qihe: Price increased by 10.00%, with a turnover rate of 4.50% [1] - Shunwei Co., Ltd.: Price increased by 5.71%, with a turnover rate of 2.96% [1] - Anglikang: Price increased by 10.00%, with a turnover rate of 5.46% [1]

Core Viewpoint - The company is actively progressing with its investment of 5.6 billion yuan in the new energy vehicle functional film project, focusing on continuous validation testing with downstream customers, although it has not yet secured large-scale orders [1] Group 1 - The company has invested a total of 5.6 billion yuan in the new energy vehicle functional film project [1] - The project is currently advancing in an orderly manner, with ongoing collaboration with downstream customers for battery cell validation testing [1] - As of now, the company has not obtained any large-volume orders for the project [1]

Core Viewpoint - Victory Precision is a leading manufacturer in the consumer electronics precision structural modules and automotive parts sector, with a full industry chain production capability, but faces significant challenges in revenue and profitability compared to industry leaders [1][2]. Financial Performance - For Q3 2025, Victory Precision reported revenue of 2.626 billion yuan, ranking 26th in the industry, significantly lower than the top player, Industrial Fulian, at 60.393 billion yuan, and second-ranked Luxshare Precision at 22.0915 billion yuan [2]. - The company's net profit was -72.7047 million yuan, placing it 83rd in the industry, far behind Industrial Fulian's 22.522 billion yuan and Luxshare Precision's 12.728 billion yuan, and below the industry average of 635 million yuan [2]. Financial Ratios - As of Q3 2025, Victory Precision's debt-to-asset ratio was 63.52%, an increase from 54.97% year-on-year, and above the industry average of 44.84% [3]. - The gross profit margin for Q3 2025 was 14.82%, up from 12.05% year-on-year, but still below the industry average of 19.47% [3]. Executive Compensation - The chairman and general manager, Xu Yang, received a salary of 720,000 yuan in 2024, a decrease of 180,000 yuan from 2023 [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 28.23% to 179,700, while the average number of circulating A-shares held per account increased by 39.34% to 18,900 [5].