Group 1 - Nearly 150 listed companies disclosed institutional investor research records this week, with Lingyi iTech leading with over 100 inquiries due to its acquisition announcement [2][3] - In December, around 800 companies received institutional research, with Zhongke Shuguang being the most researched, totaling 365 inquiries [3][5] - Lingyi iTech announced it will acquire 35% of Dongguan Liminda Electronic Technology Co., Ltd. for 875 million yuan, gaining control over 52.78% of voting rights [3] Group 2 - During the research period, Lingyi iTech was asked about Liminda's business in server segments and its client base, which includes major overseas clients like NVIDIA and Google [4] - Liminda specializes in thermal management solutions for enterprise-level servers, offering products such as liquid cooling connectors and heat management hardware [4] - The focus of institutional inquiries included companies' development plans for 2026, with attention on product diversification and market expansion strategies [6][7]

Group 1 - The core focus of the news is on the recent institutional research activities, highlighting that over 160 stocks were investigated, with Lingyi Zhi Zao being the most researched company by 107 institutions [2][9]. - Lingyi Zhi Zao announced it will acquire control of Dongguan Liminda Electronics Technology Co., Ltd. for 875 million yuan, enhancing its position as a supplier for major tech companies like NVIDIA, Google, Intel, and AMD [2][9]. - The company is also a significant supplier for Apple, which is expected to benefit from ongoing innovations by its clients [2][9]. Group 2 - Pulit is focusing on the rapid development of the robotics industry, emphasizing the application of new materials in humanoid robots, and is currently collaborating with leading clients in the sector [4][11]. - Guangting Information stated that the new paradigm of AI development represents a transformation in production methods, requiring trust and collaboration among enterprises [5][11]. - SAIC Group revealed that its subsidiary, Huayu Automotive, has established a joint venture for semi-solid and solid-state batteries, with plans for mass production by 2027 [12]. Group 3 - The average stock price of companies under institutional research increased by nearly 5% in the past week, with some stocks like Chaojie Co., Guanglian Aviation, and Huasheng Lithium rising over 20% [14]. - Chaojie Co. is involved in the commercial aerospace sector, focusing on manufacturing rocket structural components, and has completed its production line for 2024 [7][14]. - Guanglian Aviation signed a cooperation agreement with Wenchang International Aerospace City, aiming to integrate resources across the aerospace industry [7][14].

每经AI快讯，Wind数据显示，机构本周共调研了144家上市公司，其中领益智造（002600）最获关注， 参与调研的机构达106家。此外，普利特（002324）、光庭信息（301221）、广电计量（002967）、诺 德股份（600110）等均获超50家机构调研。从被调研总次数来看，泰和新材（002254）、燕京啤酒 （000729）、博盈特焊（301468）等获机构调研3次，箭牌家居（001322）、联环药业（600513）、中 农立华（603970）等7股均获机构调研3次。从调研行业来看，机构持续聚焦电子元件、工业机械、医疗 保健等板块。 ...

Group 1 - A total of 144 listed companies were investigated by institutions this week, with Lingyi iTech receiving the most attention from 106 participating institutions [1] - Other companies such as Pulit, Guangting Information, Guangdian Measurement, and Nord Shares were also investigated by over 50 institutions each [1] - In terms of total investigation frequency, Taihe New Materials, Yanjing Beer, and Boying Special Welding were each investigated 3 times, while Arrow Home, Lianhuan Pharmaceutical, and Zhongnong Lihua, among others, were also investigated 3 times [1] Group 2 - Institutions continue to focus on sectors such as electronic components, industrial machinery, and healthcare [1]

本周（12月22日—12月26日）共有117家上市公司接待机构调研。从赚钱效应看，超七成机构调研公司 实现正收益，超捷股份涨幅41.6%，广联航空涨32.44%，德明利涨24.97%。热门调研标的方面，本周仅 领益智造接受百家以上机构调研。领益智造以超过34倍的溢价，取得了一家热管理公司控制权，引发机 构关注。 ...

Group 1 - The company has signed a share acquisition agreement to acquire 96.15% of Zhejiang Xianglong Machinery Co., Ltd. for a total price of 2,403.84 million yuan [2][3] - The acquisition was approved during the 20th meeting of the sixth board of directors held on October 28, 2025 [2] - Following the completion of the acquisition, Zhejiang Xianglong has become a subsidiary of the company and is included in the consolidated financial statements [3] Group 2 - The company has completed the disposal of all shares held under the 2022 employee stock ownership plan, totaling 45,975,000 shares, which represents 0.63% of the company's total share capital [9] - The employee stock ownership plan was initiated in 2022 and has undergone several adjustments and approvals throughout its duration [5][7][8] - The plan will now proceed to asset liquidation and distribution, and will be terminated as per the relevant regulations [9] Group 3 - The company has proposed to provide guarantees for its subsidiaries, with a total guarantee amount not exceeding 40 billion yuan for the year 2026 [10] - The guarantees are intended to support the normal production and operational activities of the company and its subsidiaries [10] - Specific contracts for pledging patent rights have been signed with China Construction Bank, providing guarantees of up to 5 million yuan for two subsidiaries [11][20] Group 4 - The first meeting of the 2025 employee stock ownership plan was held on December 26, 2025, with 83 out of 95 registered participants attending [28][29] - The meeting approved the establishment of a management committee to oversee the employee stock ownership plan, with all members elected from the participants [29][30] - The management committee has been granted authority to manage the plan's daily operations and make decisions regarding the distribution of benefits and other related matters [31][32]

Group 1: Market Performance and Institutional Research - A total of 117 listed companies received institutional research from December 22 to December 26, with over 70% of these companies achieving positive returns [1] - Notable performers included Chaojie Co., which rose by 41.6%, Guanglian Aviation with a 32.44% increase, and Demingli with a 24.97% gain [1] - Leading the research interest was Lingyi Zhi Zao, which received over 100 institutional inquiries, while companies like Pulite, Guangdian Measurement, and Nord Co. were also popular among over 50 institutions [1] Group 2: Lingyi Zhi Zao Acquisition - Lingyi Zhi Zao announced a significant acquisition, purchasing a 35% stake in Dongguan Liminda Electronics Technology Co., gaining control over 52.78% of voting rights for 875 million yuan [2] - The acquisition is notable for its high premium, with a valuation of 2.51 billion yuan against Liminda's audited equity of 71.27 million yuan, resulting in a premium rate exceeding 34 times [2] - Liminda specializes in thermal management products, including liquid cooling connectors and manifolds, and is recognized as a certified supplier for NVIDIA [2][3] Group 3: Pulite's Breakthroughs - Pulite engaged with 76 institutions, highlighting advancements in modified materials, LCP (liquid crystal polymer), sodium-ion batteries, and humanoid robots [4] - The company's modified materials are applicable in humanoid robot components, and they are currently collaborating with leading clients in the industry [4] - Pulite's LCP fibers have entered the supply chain for low-orbit satellites, with significant potential for growth as demand for flexible solar wings increases [4] Group 4: Guangting Information's Strategic Focus - Guangting Information received inquiries from 66 institutions, positioning itself as a "Digital Architect" in the automotive software industry [6] - The company aims to implement a Super Software Workshop (SDW) model to enhance productivity and revenue stability [6] - Guangting's strategy includes international expansion by supporting domestic manufacturers in going abroad and providing services to foreign manufacturers, which may alleviate domestic margin pressures [6]

Group 1: Market Performance and Institutional Research - A total of 117 listed companies received institutional research from December 22 to December 26, with over 70% of these companies achieving positive returns [1] - Notable stock performances include Chaojie Co., Ltd. (301005) with a 41.6% increase, Guanglian Aviation (300900) up 32.44%, and Demingli (001309) rising 24.97% [1] - Popular research targets included Lingyi Technology (002600), which received over 100 institutional inquiries, while companies like Pulite (002324) and Guangdian Measurement (002967) were also highlighted with over 50 inquiries each [1] Group 2: Lingyi Technology Acquisition - Lingyi Technology announced a significant acquisition of a thermal management company, acquiring 35% of Dongguan Liminda Electronic Technology Co., Ltd. for 875 million yuan, resulting in a control of 52.78% voting rights [2] - The acquisition raised eyebrows due to a high valuation premium, with Liminda's audited equity valued at 71.27 million yuan, while the assessed value reached 2.51 billion yuan, indicating a premium rate exceeding 34 times [2] - Liminda's products include critical thermal management hardware for servers, and it is recognized as a liquid cooling supplier for NVIDIA [2] Group 3: Lingyi Technology's Strategic Goals - Institutions are particularly interested in whether Liminda's clients include major overseas companies like NVIDIA, Meta, and Google, as well as the strategic purpose behind the acquisition [3] - The acquisition aims to enhance Lingyi Technology's product matrix in the server segment and improve the business scale and profitability of its AI hardware server division [3] - Lingyi Technology has developed advanced thermal management products for enterprise-level servers, including GPU and CPU cooling solutions [3] Group 4: Pulite's Breakthroughs - Pulite received attention from 76 institutions, highlighting breakthroughs in modified materials, LCP (liquid crystal polymer), sodium-ion batteries, and humanoid robots [4] - The company's modified materials are applicable in humanoid robot components, and it is currently collaborating with leading clients in the humanoid robot industry [4] - Pulite's LCP fibers have entered the supply chain of a major domestic low-orbit satellite client, with significant growth expected in orders due to increasing demand for flexible solar wings [4] Group 5: Guangting Information's Strategic Positioning - Guangting Information engaged with 66 institutions, positioning itself as a "Digital Architect" in the automotive software industry, aiming to create an AI worker ecosystem [5] - The company is implementing a Super Software Workshop (SDW) model for human-machine collaborative development, which is expected to significantly enhance productivity [5] - Guangting Information's international strategy focuses on steady domestic growth while exporting intelligent automotive technology and providing services to foreign manufacturers [5]

Core Viewpoint - Lingyi Technology (002600.SZ) has completed the disposal of all shares held under its 2022 employee stock ownership plan, totaling 45,975,000 shares, which represents 0.63% of the company's total share capital [1] Summary by Relevant Sections - **Employee Stock Ownership Plan**: The employee stock ownership plan was executed from December 13, 2023, to December 26, 2025, and all shares have been disposed of through centralized bidding [1] - **Share Disposal Details**: The total number of shares disposed of is 45,975,000, and the assets held during the plan's duration are entirely monetary assets [1] - **Plan Duration Consistency**: The holding period of the employee stock ownership plan aligns with the duration disclosed in the revised draft of the plan [1]

Core Viewpoint - The company plans to provide guarantees totaling no more than 40 billion yuan for financing obligations in 2026, including its subsidiaries [1] Group 1: Financing and Guarantees - The company announced that it will provide a total guarantee of up to 40 billion yuan for its financing obligations in 2026 [1] - Subsidiaries Dongguan Lingjie and Dongguan Lingyi have signed a maximum patent pledge contract with China Construction Bank, providing a maximum pledge guarantee of 50 million yuan each, totaling 100 million yuan for the period from November 28, 2025, to November 27, 2026 [1] - As of the announcement date, the company's actual guarantee balance stands at 139.56 billion yuan, which accounts for 70.46% of the net assets as of the end of 2024, with no overdue external guarantees reported [1]