Core Viewpoint - The trend of A+H listings is expected to continue in 2026, with multiple A-share companies planning to issue H-shares and list on the Hong Kong Stock Exchange, indicating a significant increase in internationalization efforts among Chinese firms [1][2][3]. Group 1: Company Developments - Guangzhou Penghui Energy Technology Co., Ltd. and Huizhou Desay SV Automotive Electronics Co., Ltd. are among the A-share companies planning to issue H-shares to enhance their international presence and competitiveness [2][3]. - Desay SV aims to improve its brand influence and accelerate overseas business expansion through the issuance of H-shares [2]. - Penghui Energy's product matrix includes energy storage batteries, consumer batteries, and power batteries, with sales in over 50 countries, highlighting its global reach [3]. Group 2: Market Trends - In 2025, 19 A-share companies, including CATL and others, are expected to raise approximately HKD 139.99 billion through H-share listings, a 533% increase from 2024 [1]. - The A+H listing trend is driven by policy support and the increasing number of companies opting for this model, which enhances the interconnectivity between mainland and Hong Kong capital markets [4]. - The liquidity of the Hong Kong market is expected to improve significantly in 2025, attracting international funds and reducing valuation discount concerns for companies [4]. Group 3: Strategic Insights - The A+H model is seen as a long-term strategy that requires companies to align with international governance and disclosure standards, facilitating cross-border mergers and global equity incentives [5]. - The Hong Kong platform serves as a core for offshore financing, allowing companies to utilize raised funds for overseas expansion and technology acquisition [4]. - Companies are encouraged to adopt a long-term perspective, focusing on enhancing competitiveness through technology upgrades and market expansion rather than short-term speculative gains [5].

Summary of Key Points Core Viewpoint - On January 7, several A-share listed companies disclosed their shareholding changes, with some announcing plans to increase their holdings while others indicated intentions to reduce their stakes. Group 1: Shareholding Increases - Zhenxin Technology's directors Yang Zhang, Yang Guoyong, and Mo Ran plan to increase their shareholdings [2] - Anfu Technology's certain directors and senior management intend to increase their holdings by approximately 11.9 million to 13.4 million yuan [2] - Aidi Precision has received a commitment letter for a stock repurchase loan of 180 million yuan from CITIC Bank [2] Group 2: Shareholding Reductions - Yili Group's chairman Pan Gang plans to reduce his holdings by no more than 0.98% [3] - Jiao Cheng Ultrasonic's shareholder Jianlin Management intends to reduce its stake by no more than 1.64% [3] - Tianhe Magnetic Materials' shareholder Nantong Yuanlong plans to reduce its holdings by no more than 3% [3] - New Link Electronics' controlling shareholder intends to reduce its stake by no more than 3% [3] - Beidou Star's certain directors and executives plan to collectively reduce their holdings by no more than 0.012% [3] - Aili Home's shareholders Zexing and Zehui plan to reduce their holdings by no more than 1.8947% [3] - Rutong Co.'s senior management member plans to reduce his holdings by no more than 0.0097% [3] - Hengshang Energy's Qian Lirong plans to reduce his holdings by no more than 1.8384%, and Lu Fengxian plans to reduce by no more than 1% [3] - Saiteng Co.'s shareholders plan to reduce their holdings by no more than 3% [3] - Longhua New Materials' executive Xu Wei plans to reduce his holdings by no more than 0.01% [3] - Six other companies, including Siquan New Materials and Tianhong Co., have also announced various reductions in shareholdings [3]

德赛西威（002920）(002920.SZ)公告，公司股东广东德赛集团有限公司(简称"德赛集团")计划在本公告 之日起15个交易日后的3个月内以集中竞价或大宗交易方式减持公司股份不超过710.625万股，不超过公 司当前总股本的1.1906%(不超过剔除公司回购专户中的股份数量的总股本的1.1964%)。 ...

智通财经APP讯，德赛西威(002920.SZ)公告，公司股东广东德赛集团有限公司(简称"德赛集团")计划在 本公告之日起15个交易日后的3个月内以集中竞价或大宗交易方式减持公司股份不超过710.625万股，不 超过公司当前总股本的1.1906%(不超过剔除公司回购专户中的股份数量的总股本的1.1964%)。 ...

格隆汇1月7日丨德赛西威(002920.SZ)公布，股东广东德赛集团有限公司(简称"德赛集团")计划在本 公告之日起15个交易日后的3个月内以集中竞价或大宗交易方式减持公司股份不超过7,106,250股，不超 过公司当前总股本的1.1906%(不超过剔除公司回购专户中的股份数量的总股本的1.1964%)。 ...

证券日报网讯 1月7日，德赛西威发布公告称，第一大股东德赛集团拟于公告15个交易日后3个月内，以 集中竞价或大宗交易减持不超7106250股，占总股本1.1906%，拟减持的原因为自身需求。 （编辑 丛可心） ...

惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2026-002 惠州市德赛西威汽车电子股份有限公司 关于公司股东减持股份预披露公告 股东广东德赛集团有限公司保证向公司提供的信息披露内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及全体董事会成员保证公告内容与信息披露义务人提供的信息一致。 特别提示：持有惠州市德赛西威汽车电子股份有限公司（以下简称"公司"） 157,106,250 股（占公司当前总股本比例 26.32%）的股东广东德赛集团有限公司（以 下简称"德赛集团"）计划在本公告之日起 15 个交易日后的 3 个月内以集中竞价或 大宗交易方式减持公司股份不超过 7,106,250 股，不超过公司当前总股本的 1.1906% （不超过剔除公司回购专户中的股份数量的总股本的 1.1964%）。 公司于近日收到第一大股东、持股 5%以上股东德赛集团出具的《关于公司股 份减持计划的告知函》，现将本次股东减持股份计划的有关情况公告如下： 一、德赛集团的基本情况 1、股东的名称：广东德赛集团有限公司 2、股东持有的股份数量：截至本公告日，德赛集团持有公司 ...

人民财讯1月7日电，德赛西威(002920)1月7日公告，持股26.32%的公司第一大股东德赛集团拟减持公司 不超过710.625万股，减持比例不超过公司当前总股本的1.1906%（不超过剔除公司回购专户中的股份数 量的总股本的1.1964%）。 转自：证券时报 ...

Core Viewpoint - Desay Group, a major shareholder of Desay SV, plans to reduce its stake by up to 7,106,250 shares, representing approximately 1.1906% of the company's total share capital, due to its own funding needs [1] Group 1 - Desay Group currently holds 26.32% of Desay SV, equating to 157,106,250 shares [1] - The reduction will occur within three months starting from 15 trading days after the announcement date [1] - The shares will be sold at market price through centralized bidding or block trading [1] Group 2 - There are no restrictions preventing Desay Group from reducing its holdings [1] - The plan to reduce shares carries a degree of uncertainty [1]

Group 1 - The company is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and brand influence, while not affecting its control [2] - The company aims to maintain its domestic market share by leveraging unique advantages to create superior products and investing in R&D to sustain its first-mover advantage [2] - The company possesses full-stack capabilities in smart cockpits and smart driving, enabling faster and more cost-effective product launches through collaboration with industry leaders [2] Group 2 - The trend of integrated cockpit and driving systems is expected to become more pronounced, with the company's 8775 integrated solution anticipated to offer significant cost optimization and performance improvements [3] - The company has developed a new in-car acoustic solution in collaboration with XPERI, featuring a leading 9.3.4 audio system designed for balanced sound across frequencies [3] - The acoustic solution employs a dual external amplifier system to ensure stable output, with plans for ongoing innovation in cabin acoustic technology to enhance user experience [4]