Core Viewpoint - The financial performance of Qiming Star has shown a significant decline in revenue and net profit, indicating potential challenges in the information security sector [2][3]. Financing Summary - On November 11, Qiming Star's financing buy-in amounted to 18.41 million yuan, while financing repayment reached 29.05 million yuan, resulting in a net financing outflow of 10.64 million yuan [1]. - The total financing and margin trading balance for Qiming Star as of November 11 is 831 million yuan, with a financing balance of 822 million yuan, representing 5.86% of the circulating market value, which is above the 60th percentile of the past year [1]. - In terms of securities lending, Qiming Star repaid 8,900 shares and sold 33,100 shares on November 11, with a selling amount of 500,500 yuan, while the securities lending balance is 8.84 million yuan, exceeding the 90th percentile of the past year [1]. Business Performance Summary - For the period from January to September 2025, Qiming Star reported a revenue of 1.548 billion yuan, reflecting a year-on-year decrease of 33.46%, and a net profit attributable to shareholders of -216 million yuan, a decline of 2.71% year-on-year [2]. - The company's main business revenue composition includes 56.68% from security products, 42.36% from security operations and services, and 0.95% from other sources [1]. Shareholder and Dividend Information - As of September 30, 2025, Qiming Star had 94,900 shareholders, a decrease of 0.39% from the previous period, with an average of 7,645 circulating shares per person, an increase of 0.40% [2]. - Since its A-share listing, Qiming Star has distributed a total of 886 million yuan in dividends, with 518 million yuan distributed over the past three years [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the second-largest shareholder with 16.9496 million shares, a decrease of 3.8675 million shares from the previous period [3].

Core Viewpoint - The company emphasizes the importance of market value management and has established a systematic approach to enhance its market value and investor confidence [1] Group 1: Market Value Management - The company has developed and approved a "Market Value Management Measures" document in accordance with the guidelines from the CSRC and the State-owned Assets Supervision and Administration Commission [1] - The company has achieved an A-level rating in information disclosure from the Shenzhen Stock Exchange for six consecutive years, indicating a commitment to high-quality information disclosure [1] - The company actively engages in investor relations management through various channels, including performance communication meetings, "Interactive Easy," IR email, and investor hotline [1] Group 2: Value Sharing Initiatives - The company is continuously researching and evaluating diverse value-sharing schemes, including dividends and share buybacks, to implement measures that align with the company's development and the long-term interests of all shareholders [1] - As a subsidiary of China Mobile focused on cybersecurity, the company aims to explore multi-dimensional and multi-faceted market value management methods [1] - The company is committed to responding to the requirements of the State-owned Assets Supervision and Administration Commission and China Mobile regarding market value management for state-owned listed companies [1]

Core Viewpoint - China Mobile has made significant advancements in the 50GE QSFP28 optical module research field by embedding intelligent capabilities at the device level, enabling high-precision data collection and AI analysis for real-time fault detection with over 95.6% accuracy [1] Group 1: Company Involvement - Company Tianxing Chuangxin (启明星辰) confirmed on November 7, 2025, that it has not participated in China Mobile's 50GE QSFP28 optical module solution [1]

Core Viewpoint - The company, Qiming Star, announced that its shareholder, Tibet Tianchen Information Technology Co., Ltd., plans to reduce its holdings by 892,043 shares, representing 0.07% of the total share capital, through centralized bidding within three months after the announcement [2] Summary by Sections - **Shareholder Information** - Tibet Tianchen Information Technology Co., Ltd. holds 892,043 shares of Qiming Star, accounting for 0.07% of the total share capital [2] - **Reduction Plan** - The shareholder intends to reduce its holdings of 892,043 shares, which is also 0.07% of the total share capital, through centralized bidding within three months following the announcement [2]

Core Viewpoint - On November 7, Jiangsu Cable announced a plan for share repurchase, while 14 listed companies disclosed share reduction plans by their shareholders and executives [1][2]. Group 1: Share Buyback - Jiangsu Cable's controlling shareholder intends to increase its stake in the company by investing between 100 million to 150 million yuan [2]. Group 2: Share Reduction - Huahong Technology's director plans to reduce holdings by up to 2.1 million shares [2]. - Shenzhou Information's board members and senior management plan to reduce holdings by up to 0.039% of shares [2]. - Zhongying Technology's shareholder plans to reduce holdings by up to 0.77% of shares [2]. - Yong'an Pharmaceutical's directors and executives plan to collectively reduce holdings by up to 0.08% of shares [2]. - Yingshi Sheng's actual controller plans to reduce holdings by up to 1.86% of shares [2]. - Qiming Star's shareholder plans to reduce holdings by up to 0.07% of shares [2]. - Weiteou's controlling shareholder and its concerted parties plan to reduce holdings by up to 3% of shares [2]. - Diansheng Co.'s shareholders plan to reduce holdings by up to 4% of shares [2]. - Demingli's second-largest shareholder reduced holdings by 782,200 shares on November 7 [2]. - Fuchin Technology's controlling shareholder plans to reduce holdings by up to 2% of shares [2]. - Xinlong Holdings' shareholder plans to reduce holdings by up to 3% of shares [2]. - Yonghui Supermarket's executive completed a reduction of 108,700 shares on November 7 [2]. - Fangda Carbon's share repurchase account plans to reduce holdings by up to 1.88% of shares [2]. - Changbai Mountain's shareholder plans to reduce holdings by up to 1% of shares [2].

Group 1 - Jiangsu Cable's controlling shareholder plans to increase holdings by 100 million to 150 million yuan [1] - New Tian Green Energy's controlling shareholder and its concerted parties increased their shareholding ratio to 52.43% [1] - Kangyuan Pharmaceutical's six executives plan to buy no less than 120,000 shares [1] Group 2 - Electric Sound's shareholders plan to collectively reduce their holdings by no more than 4% of the company's shares [1] - Xinlong Holdings' shareholder Hainan Zhuhua plans to reduce holdings by no more than 3% [1] - Fuzhijun Technology's controlling shareholder, the Institute of Fujian Academy of Sciences, plans to reduce holdings by no more than 2% [1] Group 3 - Weiteou's controlling shareholder Liao Gaobing and Lileyuan plan to reduce holdings by 2% and 1% respectively [1] - Yingshisheng's controlling shareholder Tang Qiu plans to reduce holdings by no more than 1.86% [1] - Changbai Mountain's shareholder Jilin Sen Gong plans to reduce holdings by no more than 1% [1] Group 4 - Qiming Star's shareholder Tibet Tianchen plans to reduce holdings by no more than 0.07% [1] - Yong'an Pharmaceutical's multiple directors plan to collectively reduce holdings by no more than 235,400 shares [1]

Group 1 - The core point of the article is that Qiming Star Technology Group Co., Ltd. plans to reduce its shareholding by approximately 890,000 shares, which represents 0.07% of the total share capital, within three months after 15 trading days from the announcement date [1] - As of the announcement, Qiming Star's market capitalization is 18.3 billion yuan [1] - For the first half of 2025, Qiming Star's revenue composition shows that information network security accounts for 99.05%, while other businesses account for only 0.95% [1]

Core Points - Xizang Tianchen, a shareholder holding 0.07% of the company, plans to reduce its stake by 892,000 shares, which represents 0.07% of the total share capital of Qiming Star [1] Summary by Category - **Shareholder Actions** - Xizang Tianchen intends to reduce its holdings in Qiming Star by 892,000 shares [1] - The reduction in shares is aimed at repaying loans [1]

格隆汇11月7日丨启明星辰(002439.SZ)公布，股东西藏天辰信息科技有限公司（简称"西藏天辰"）持有 公司股份892,043股（占公司总股本比例0.07%），计划自本公告之日起15个交易日后的3个月内，以集 中竞价方式减持公司股份892,043股（占公司总股本的比例0.07%）。 ...

Core Viewpoint - The company, Qiming Star, announced that its shareholder, Tibet Tianchen Information Technology Co., Ltd., plans to reduce its shareholding by 892,000 shares, accounting for 0.07% of the company's total share capital within three months after 15 trading days from the announcement date [1] Summary by Category - **Shareholder Action** - Tibet Tianchen intends to reduce its stake in Qiming Star through centralized bidding [1] - The planned reduction involves 892,000 shares [1] - **Impact on Company** - The reduction represents a minor percentage (0.07%) of the total share capital [1]