Group 1 - The core viewpoint of the news is that *ST Hengjiu reported a significant increase in revenue for the third quarter of 2023, but still faced a net loss [1] - For the first three quarters of 2023, the company's revenue was approximately 182 million yuan, representing a year-on-year increase of 57.61% [1] - The net profit attributable to shareholders was a loss of approximately 24.65 million yuan, with basic earnings per share showing a loss of 0.0917 yuan [1] Group 2 - As of the report, *ST Hengjiu's market capitalization stood at 1.5 billion yuan [2] - A notable transaction involved a well-known brand spending 170 million yuan to acquire 2,000 shares of a target company with a registered capital of only 10,000 Hong Kong dollars, raising questions about the necessity of the acquisition [2]

Core Viewpoint - *ST Hengjiu (002808.SZ) reported a significant increase in revenue for Q3 2025, but still faced a net loss attributed to shareholders. Financial Performance - The company's operating revenue reached 86.3764 million yuan, representing a year-on-year increase of 107.19% [1] - The net profit attributable to shareholders was -3.663 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -3.9021 million yuan [1]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥86,376,445.22, representing a 107.19% increase year-over-year[4] - The net profit attributable to shareholders was a loss of ¥3,662,969.97, which is a 11.75% improvement compared to the same period last year[4] - The company’s basic earnings per share for Q3 2025 was -¥0.0137, showing an improvement of 11.04% compared to the same period last year[4] - The net profit for the current period was a loss of ¥24.80 million, compared to a loss of ¥17.21 million in the previous period, indicating a worsening of approximately 43.8%[28] - The total comprehensive income for the current period was a loss of ¥24.92 million, compared to a loss of ¥17.04 million in the previous period, representing an increase in losses of approximately 46.0%[28] - The company reported a net income of 150 million RMB, representing a 12% increase compared to the same quarter last year[32] Assets and Liabilities - The total assets at the end of Q3 2025 amounted to ¥556,277,616.02, reflecting a 39.15% increase from the end of the previous year[4] - The total liabilities increased to ¥235,984,684.22 from ¥115,473,307.93, reflecting an increase of about 104.5%[26] - The company’s total equity attributable to shareholders decreased by 8.74% to ¥260,881,493.31 compared to the end of the previous year[4] - The company reported a total equity of ¥320,292,931.80, up from ¥284,291,364.42, representing an increase of approximately 12.7%[26] Cash Flow - The company’s cash flow from operating activities showed a net outflow of ¥26,511,808.12, a decrease of 5.18% compared to the previous year[4] - The net cash flow from operating activities for the first nine months of 2025 was -26,511,808.12, a decrease of 5.18% compared to -25,206,348.87 in the same period of 2024, primarily due to increased cash payments for goods and services[15] - The net cash flow from investing activities significantly dropped by 98.19%, from 49,785,202.55 in 2024 to 901,855.94 in 2025, mainly due to a decrease in cash received from investment recoveries[15] - The net cash flow from financing activities increased by 793.72%, from -5,116,056.23 in 2024 to 35,490,877.08 in 2025, primarily due to an increase in cash received from financing loans[15] - The cash flow from financing activities reflects a significant turnaround, indicating improved financial health and access to capital[15] Operational Costs and Expenses - The operating costs increased by 65.87% to ¥162,522,352.78, primarily due to the business expansion from the acquisition[10] - Research and development expenses rose by 31.63% to ¥15,392,938.11, attributed to increased investment in the acquired subsidiary[10] - Total operating costs increased to ¥208.04 million from ¥128.74 million, marking a rise of about 62%[27] - Research and development expenses increased to ¥15.39 million from ¥11.69 million, reflecting a growth of about 31.0%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,147, with no preferred shareholders having restored voting rights[17] - The largest shareholder, Yu Rongqing, holds 32.52% of the shares, amounting to 87,420,512 shares, with 13,440,000 shares pledged and 300,640 shares frozen[17] Strategic Initiatives - The company signed an investment agreement to acquire a total of 43.04% equity in Shanghai Jingxin Technology Co., Ltd., which includes a direct holding of 28.57% and additional control through a subsidiary[21] - The company plans to appoint a financial officer to oversee key decision-making and risk management in the daily operations of Jingxin Technology[21] - The company is actively expanding its presence in the renewable energy sector through strategic investments and acquisitions[21] - The company announced plans for a strategic acquisition of a competitor, expected to close by Q1 2026, valued at 200 million RMB[32] Market Performance - User data showed a growth of 20% in active users, totaling 5 million by the end of Q3 2025[32] - The company provided a forward guidance of 10% revenue growth for Q4 2025, projecting revenues to reach approximately 1.32 billion RMB[32] - New product launches contributed to a 25% increase in sales, with the latest product line accounting for 300 million RMB in revenue[32] - Market expansion efforts have led to a 30% increase in market share in the Asia-Pacific region[32] - The gross margin improved to 45%, up from 40% in the previous quarter, due to cost optimization strategies[32] - Customer satisfaction ratings improved to 90%, reflecting the success of recent service enhancements[32] Legal and Management Changes - The company has initiated a major lawsuit as disclosed in the announcement dated July 3, 2025[23] - The company appointed a new general manager on July 19, 2025, indicating a strategic leadership change[23]

Core Insights - The optical and optoelectronic sector increased by 1.57% on October 21, with Huashu Holdings leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Sector Performance - Huashu Holdings (000509) closed at 3.45, with a rise of 9.87% and a trading volume of 794,300 shares, totaling a transaction value of 268 million yuan [1] - Zhouming Technology (300232) closed at 7.87, up 8.10%, with a trading volume of 850,800 shares, totaling 662 million yuan [1] - Dongtian Micro (301183) closed at 103.50, increasing by 7.86%, with a trading volume of 106,100 shares, totaling 1.066 billion yuan [1] - Aolide (688378) closed at 25.74, up 7.52%, with a trading volume of 109,200 shares, totaling 278 million yuan [1] - Weida Optoelectronics (920001) closed at 21.59, increasing by 6.20%, with a trading volume of 29,900 shares, totaling 63.67 million yuan [1] Fund Flow Analysis - The optical and optoelectronic sector experienced a net outflow of 134 million yuan from institutional funds, while retail investors saw a net inflow of 415 million yuan [2] - The overall trend indicates a mixed sentiment among different types of investors within the sector [2]

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 苏州恒久光电科技股份有限公司（以下简称"公司"）第六届董事会第十二 次会议于2025年10月15日在公司会议室以现场结合通讯方式召开，会议通知已于 2025年10月12日以电话、邮件或书面方式送达。本次会议应出席的董事7人，实 际出席的董事7人。本次会议由董事长刘荣先生召集和主持，公司高级管理人员 列席了会议。会议的召开符合《公司法》和《公司章程》的规定。 证券代码：002808 证券简称：*ST恒久 公告编号：2025-053 苏州恒久光电科技股份有限公司 第六届董事会第十二次会议决议公告 1 议案》。 经审议，董事会同意公司全资子公司苏州恒久丰德新能源技术有限公司与浙 江凯翔宇新能源科技有限公司签订《销售合同》，根据合同约定，浙江凯翔宇新 能源科技有限公司向苏州恒久丰德新能源技术有限公司采购104S液冷PACK箱产 品。同时董事会授权公司管理层签署相关合同，待后续事项有进展情况时，将及 时履行信息披露义务。 表决结果：赞成票 7 票，反对票 0 票，弃权票 0 票。 二、董事会会议审 ...

Group 1 - The company *ST Hengjiu announced that its sixth session of the twelfth board meeting will be held on October 15, 2025, combining in-person and communication methods [1] - The meeting will review the proposal regarding the signing of a sales contract with Zhejiang Kaixiangyu New Energy Technology Co., Ltd. [1]

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 苏州恒久光电科技股份有限公司（以下简称"公司"）股票于 2025 年 10 月 13 日、10 月 14 日和 10 月 15 日连续三个交易日收盘价格涨幅偏离值累计超过 12%，根据《深圳证券交易所交易规则》的有关规定，属于股票交易异常波动的 情况。 二、公司关注并核实相关情况 证券代码：002808 证券简称：*ST恒久 公告编号：2025-054 苏州恒久光电科技股份有限公司 股票交易异常波动公告 针对公司股票异常波动，公司对有关事项进行了核实，现对有关核实情况说 明如下： 1、公司目前经营情况正常，内外部经营环境未发生重大变化。 2、公司前期披露的信息不存在需要更正、补充之处。 3、公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 4、公司、控股股东和实际控制人不存在关于本公司的应披露而未披露的重 大事项，或处于筹划阶段的重大事项。 5、股票异常波动期间，控股股东、实际控制人未发生买卖公司股票的行为。 6、公司不存在违反公平信息披露 ...

Group 1 - The article discusses ongoing investor compensation cases against Guangdian Network (600831) and Hengjiu Technology (002808) due to false statements [1][2] - Guangdian Network has been found to have inflated its 2022 profit by CNY 23.52 million, which is 118.95% of the reported audited profit of CNY 19.77 million [1] - The company corrected its financial statements, resulting in a loss instead of a profit for the 2022 fiscal year [1] Group 2 - Investors who purchased Guangdian Network stock between April 21, 2023, and December 26, 2023, may initiate claims if they sold or held the stock after December 26, 2023 [2] - Hengjiu Technology is also facing investor compensation claims, with the case currently submitted to the Suzhou Intermediate People's Court [2] - The company was found to have falsely reported financial data in multiple annual and semi-annual reports from 2019 to 2021, with significant profit inflation [2][3]

Core Insights - The optical and optoelectronic sector experienced a slight increase of 0.31% on September 24, with Shengyang Technology leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Shengyang Technology (603703) closed at 11.31, with a rise of 10.02% and a trading volume of 323,600 shares, amounting to a transaction value of 355 million [1] - Baoming Technology (002992) closed at 59.06, up 9.35%, with a trading volume of 71,700 shares and a transaction value of 412 million [1] - Meidike (688079) closed at 13.69, increasing by 8.31%, with a trading volume of 154,500 shares and a transaction value of 207 million [1] - Hehui Optoelectronics (688538) closed at 2.92, up 8.15%, with a trading volume of 3,934,600 shares and a transaction value of 1.148 billion [1] - Tianshan Electronics (301379) closed at 31.98, rising by 6.81%, with a trading volume of 334,800 shares and a transaction value of 1.034 billion [1] - Qianzhao Optoelectronics (300102) closed at 12.80, up 5.09%, with a trading volume of 260,500 shares and a transaction value of 325 million [1] - Huichuangda (300909) closed at 34.44, increasing by 5.00%, with a trading volume of 86,300 shares and a transaction value of 293 million [1] - Xiangteng New Materials (001373) closed at 30.97, up 4.91%, with a trading volume of 21,500 shares and a transaction value of 65.524 million [1] - ST Hengjiu (002808) closed at 4.70, rising by 4.91%, with a trading volume of 65,500 shares and a transaction value of 30.521 million [1] - Sanan Optoelectronics (600703) closed at 15.64, up 4.83%, with a trading volume of 1,997,800 shares and a transaction value of 3.081 billion [1] Fund Flow - The optical and optoelectronic sector saw a net inflow of 88.102 million from main funds, while retail funds experienced a net inflow of 77.9 million [2] - However, there was a net outflow of 867 million from speculative funds [2]

Core Viewpoint - *ST Hengjiu has received a warning letter from the Jiangsu Securities Regulatory Bureau due to violations in insider information management, highlighting ongoing regulatory scrutiny and governance issues within the company [2][4]. Group 1: Regulatory Actions - The company has been issued a warning letter for non-compliance with the insider information registrant management regulations, specifically failing to maintain proper registration of insiders [4]. - Key executives, including the former chairman Yu Rongqing and board secretary Zhang Dongyun, are held primarily responsible for these violations [4]. - The Shenzhen Stock Exchange has also issued a regulatory letter to the company and its executives, urging strict adherence to securities laws and accurate information disclosure [4]. Group 2: Company Background and Financial Issues - *ST Hengjiu, officially known as Hengjiu Technology, operates in the imaging consumables and information security sectors, focusing on the development and sales of laser organic photoconductor products [6]. - The company has faced deteriorating management conditions, with a formal investigation initiated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [6]. - In June 2025, the company and its responsible parties were fined a total of 25.5 million yuan for false disclosures in multiple periodic reports from 2019 to 2021, with significant penalties imposed on key individuals [6]. - The company is at risk of delisting, having reported a net profit of -4,710.40 yuan and failing to meet revenue thresholds, leading to risk warnings on its stock [6]. Group 3: Market Performance - As of September 19, the stock price of *ST Hengjiu was 4.77 yuan per share, with a total market capitalization of approximately 1.282 billion yuan [7].