Core Viewpoint - Zhaochi Co., Ltd. has experienced fluctuations in stock price and financial performance, with a notable decline in revenue and net profit for the first half of 2025, indicating potential challenges ahead for the company [1][2]. Financial Performance - As of June 30, 2025, Zhaochi Co., Ltd. reported a revenue of 8.483 billion yuan, a year-on-year decrease of 10.89% [2]. - The net profit attributable to shareholders was 661 million yuan, reflecting a year-on-year decline of 27.37% [2]. - The company's stock price has increased by 16.34% year-to-date, but has seen a decline of 2.80% over the past five trading days [1]. Shareholder Information - The number of shareholders as of June 30, 2025, was 100,600, an increase of 0.45% from the previous period [2]. - The average number of circulating shares per shareholder was 44,993, a decrease of 0.45% [2]. - The company has distributed a total of 1.944 billion yuan in dividends since its A-share listing, with 1.308 billion yuan distributed in the last three years [3]. Stock Market Activity - On September 30, 2025, Zhaochi Co., Ltd.'s stock price was 6.60 yuan per share, with a trading volume of 268 million yuan and a turnover rate of 0.89% [1]. - The company experienced a net outflow of 43.576 million yuan in principal funds, with significant selling pressure observed [1]. Business Overview - Zhaochi Co., Ltd. specializes in the research, development, manufacturing, sales, and service of home audio-visual and electronic products [1]. - The revenue composition includes 66.90% from multimedia audio-visual products and services, and 33.10% from the LED industry chain [1]. - The company is categorized under the household appliances sector, specifically in black household appliances and color TVs [1].

Core Viewpoint - The company aims to leverage cutting-edge technology to drive innovation and transformation, promoting industry change [1] Company Summary - The company, Zhao Chi Co., Ltd. (stock code: 002429), is focusing on advancing its innovation and transformation efforts [1] - The company is developing infrared sensing LED chips and sensor components that can be applied in the robotics sector [1] Industry Summary - The company’s initiatives are expected to contribute to significant changes within the industry [1]

证券日报网讯兆驰股份（002429）9月26日在互动平台回答投资者提问时表示，公司已构建起覆盖全球 的业务网络，除国内市场以外，业务范围已拓展至欧盟、北美、南美及亚洲等多个国家和地区。 ...

格隆汇9月26日丨兆驰股份(002429.SZ)在互动平台表示，公司红外感知LED芯片及传感器件等相关部件 产品，可应用于机器人领域。 ...

Company Overview - Zhaochi Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, and was established on April 4, 2005. The company was listed on June 10, 2010. Its main business involves the research, manufacturing, sales, and service of home audio-visual and electronic products [1]. - The company's revenue composition includes 66.90% from multimedia audio-visual products and services, and 33.10% from the LED industry chain [1]. Financial Performance - As of June 30, 2025, Zhaochi Co., Ltd. reported a revenue of 8.483 billion yuan, a year-on-year decrease of 10.89%. The net profit attributable to shareholders was 661 million yuan, down 27.37% year-on-year [2]. - The company has cumulatively distributed 1.944 billion yuan in dividends since its A-share listing, with 1.308 billion yuan distributed over the past three years [3]. Stock Market Activity - On September 26, Zhaochi's stock price fell by 2.02%, trading at 6.78 yuan per share, with a total market capitalization of 30.693 billion yuan [1]. - The stock has increased by 19.51% year-to-date, with a 0.73% decline over the last five trading days, a 21.29% increase over the last 20 days, and a 55.50% increase over the last 60 days [1]. - As of June 30, 2025, the number of shareholders was 100,600, an increase of 0.45% from the previous period, while the average circulating shares per person decreased by 0.45% to 44,993 shares [2]. Shareholder Composition - As of June 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 33.918 million shares, a decrease of 41.0538 million shares from the previous period. The Southern CSI 500 ETF ranked as the eighth largest circulating shareholder, holding 33.6596 million shares, an increase of 4.4558 million shares [3].

Group 1 - The company has established a global business network, expanding its operations beyond the domestic market to regions including the EU, North America, South America, and Asia [2]

Group 1 - The A-share market is recovering, leading to significant profits for fund investors, with 2.15 billion fund investors on the Ant Fund platform achieving cumulative profits [1] - Institutional investors have notably increased their holdings in active equity funds, with a rise of 54.1 billion yuan in asset scale and an increase of 27.1 billion fund shares by the end of the first half of the year [1] - West China Fund confirmed that a fund manager was caught gambling and has been dismissed from their position following administrative penalties [1] Group 2 - The China Coking Industry Association recommends a 30% production cut across the coking industry to maintain reasonable profit levels and healthy development [2] - Coking prices are set to increase, with specific price adjustments for various types of coke effective from September 26 [2] Group 3 - The global average selling price (ASP) of smartphones is projected to rise from $370 in 2025 to $412 in 2029, driven by high-end trends and the adoption of 5G technology [3] Group 4 - The Robotaxi sector is experiencing a surge in stock prices, with leading companies like Pony.ai and Baidu seeing significant increases in their stock values due to accelerated commercial applications [4] - The cobalt market is tightening due to export bans from the Democratic Republic of Congo, leading to a nearly 40% increase in cobalt prices this year [4] Group 5 - Starbucks plans to close underperforming stores in North America, reducing the number of company-operated stores by approximately 1% by fiscal year 2025, while also cutting about 900 non-retail positions to invest in store operations [5] Group 6 - ByteDance has denied rumors of preparing for an IPO in Hong Kong, urging caution against misinformation regarding "Byte concept stocks" [6] Group 7 - Shanghai Forever Bicycle Company has stated that products like "Forever Rabbit" are not associated with the company and will pursue legal action against unauthorized use of its trademark [7] Group 8 - Horizon Robotics plans to raise approximately 6.339 billion HKD through a share placement to expand its overseas market and support advanced driver assistance solutions [9] Group 9 - Dragon Big Food announced that 0.70% of shares held by its controlling shareholder are under judicial freeze, but this will not affect the company's operations or governance [10] Group 10 - Zhaochi Co. has completed the R&D design of its 1.6T OSFP DR8 optical module, with plans to launch samples by the end of 2025 [11] - Jingchen Co. has submitted an application for H-share listing on the Hong Kong Stock Exchange [12]

Core Insights - On September 24, 2023, Zhao Chi Co., Ltd. saw a stock price increase of 2.65% with a trading volume of 1.074 billion yuan [1] - The company reported a financing buy-in of 176 million yuan and a financing repayment of 230 million yuan on the same day, resulting in a net financing outflow of 53.72 million yuan [1] - As of September 24, the total margin balance for Zhao Chi Co., Ltd. was 1.414 billion yuan, indicating a high level of financing activity [1] Financing Summary - On September 24, Zhao Chi Co., Ltd. had a financing buy-in of 176 million yuan, with a current financing balance of 1.407 billion yuan, representing 4.46% of its market capitalization [1] - The financing balance is above the 90th percentile of the past year, indicating a high level of leverage [1] Securities Lending Summary - On September 24, the company repaid 423,200 shares in securities lending and sold 74,300 shares, amounting to 517,900 yuan based on the closing price [1] - The remaining securities lending balance was 1.0615 million shares, with a total value of 739,870 yuan, also above the 90th percentile of the past year [1] Company Overview - Zhao Chi Co., Ltd. was established on April 4, 2005, and went public on June 10, 2010 [1] - The company specializes in the research, manufacturing, sales, and service of home audio-visual and electronic products, with revenue composition of 66.90% from multimedia audio-visual products and services, and 33.10% from the LED industry chain [1] Financial Performance - As of June 30, 2025, Zhao Chi Co., Ltd. had 100,600 shareholders, an increase of 0.45% from the previous period [2] - For the first half of 2025, the company reported revenue of 8.483 billion yuan, a year-on-year decrease of 10.89%, and a net profit attributable to shareholders of 661 million yuan, down 27.37% year-on-year [2] - The company has distributed a total of 1.944 billion yuan in dividends since its A-share listing, with 1.308 billion yuan distributed over the past three years [2] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the seventh-largest shareholder, holding 33.918 million shares, a decrease of 41.0538 million shares from the previous period [2] - The Southern CSI 500 ETF was the eighth-largest shareholder, holding 33.6596 million shares, an increase of 4.4558 million shares from the previous period [2]

证券代码：002429 证券简称：兆驰股份 公告编号：2025-036 深圳市兆驰股份有限公司 关于为下属子公司申请综合授信提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 2、债权人：中国银行股份有限公司南昌市青湖支行 3、债务人：江西兆驰半导体有限公司 4、保证最高本金余额：人民币38,000.00万元 5、保证范围：主合同项下的主债权、利息（包括利息、复利、罚息）、违约金、 损害赔偿金、实现债权的费用（包括但不限于诉讼费用、律师费用、公证费用、执 行费用等）、因债务人违约而给债权人造成的损失和其他所有应付费用等。 6、保证方式：连带责任保证。 一、 担保情况概述 深圳市兆驰股份有限公司（以下简称"公司"）分别于 2025 年 4 月 15 日、2025 年 5 月 7 日召开第六届董事会第十八次会议、2024 年年度股东大会，审议通过了《关 于为下属子公司申请综合授信提供担保的议案》，同意公司及合并报表范围内的子 公司为下属子公司向银行/金融机构等申请综合授信提供担保，2025 年度预计提供 不超过人民币 772,000 万元、美元 1 ...

Summary of Zhaochi Co., Ltd. Conference Call Industry Overview - Zhaochi Co., Ltd. operates in the optical communication industry, covering the entire supply chain from optical chips and devices to modules, with product lines ranging from 10G low-speed to 400G/800G high-speed [2][3] Key Points and Arguments - **Revenue Projections**: By 2026, Zhaochi expects low-speed optical module revenue to reach approximately 1 billion yuan, high-speed products to exceed 500 million yuan, totaling over 1.5 billion yuan in revenue with a net profit margin of 15%, contributing over 200 million yuan in profit [2][3] - **Production Capacity**: The company has a well-established production layout, with a monthly production capacity of 1 million pieces planned for its Nanchang base, currently achieving 600,000 to 700,000 pieces, and a planned capacity of 200,000 pieces for high-speed modules [2][3] - **Vertical Integration**: Zhaochi enhances its competitiveness through vertical integration, achieving cost advantages and strong quality control in automated mass production [7] - **Market Competition**: The 100G and below low-speed optical module market is competitive, with Zhaochi achieving a gross margin of about 30%, higher than the industry average, aiming to capture one-third of the market share, with projected revenue of 1 billion yuan by 2026 [4][9] - **High-Speed Market Demand**: The 400G/800G high-speed optical module market is currently in high demand, with Zhaochi's products undergoing customer testing, expecting revenue to exceed 500 million yuan by 2026 [4][11] - **Traditional Business Performance**: Zhaochi's traditional business, including TV OEM and LED full industry chain, is expected to contribute 1.7 to 1.8 billion yuan in profit by 2026, indicating strong operational efficiency [6][12] Additional Important Insights - **R&D Facilities**: The company has a research and development headquarters in Shenzhen with over 7,000 square meters of cleanroom space, primarily serving Huawei orders [5] - **Customer Relationships**: Zhaochi has established strong partnerships with leading domestic telecom manufacturers such as Huawei, ZTE, and others, while also exploring overseas markets [8] - **Investment Considerations**: Investors are advised to consider the timing of their investments, as the second half of the year may show weaker performance, but long-term prospects remain positive with expected improvements in 2026 [13][14]