Summary of Greater China Technology Hardware Conference Call Industry Overview - The conference focused on the Greater China Technology Hardware sector, particularly in AI technology and hardware advancements [7][8]. Key Insights - **Opportunities in AI GPU and ASIC Servers**: There are significant opportunities in upgrading AI GPU and ASIC server designs, with major projects like GB300, Vera Rubin platform, and Kyber architecture showing promise [7][8]. - **AMD Helios Server Rack**: The AMD Helios server rack project is gaining traction, indicating a positive trend in server hardware demand [7]. - **Enhanced Computing Power**: AI ASIC servers are expected to enhance computing power and increase rack density, which is crucial for data centers [7]. - **Power Solution Upgrades**: Transitioning to 800V HVDC power architecture and the growing adoption of liquid cooling solutions are highlighted as key upgrades [7]. - **PCB/Substrate Capacity Expansion**: There is a wave of capacity expansion in PCB/substrate to support ongoing design upgrades, which is essential for meeting increased demand [7]. - **Data Network Improvements**: Upgrades in data and power interconnects are anticipated to improve data network transmission speed and capacity [7]. - **Consumer Electronics Demand**: The demand for consumer electronics is being impacted by rising memory costs, with Android smartphones being more vulnerable compared to iPhones [7]. - **Upcoming Foldable iPhone Models**: Anticipation for the release of foldable iPhone models in the second half of 2026 is noted as a potential market driver [7]. Stock Recommendations - **Key Stock Ideas**: - AI Server Hardware: Wistron, Hon Hai/FII, Wiwynn, Delta Electronics, AVC, BizLink, King Slide, Accton, Chenbro, Gold Circuits, Innolight, FIT, and Fositek [7]. - Edge AI: Xiaomi, Lenovo, Luxshare [7]. Valuation Comparison - A detailed valuation comparison of various companies within the Greater China Technology Hardware sector was provided, including metrics such as price, target price, EPS, P/E ratio, P/B ratio, and ROE [8]. - Notable companies included: - **Lite-On Tech**: Current price at 162.50, target price at 150.00, with a P/E ratio of 23.3 for 2025 [8]. - **Delta Electronics**: Current price at 922.00, target price at 1288.0, with a P/E ratio of 38.9 for 2025 [8]. - **Hon Hai**: Current price at 241.00, target price at 317.0, with a P/E ratio of 16.4 for 2025 [8]. - **Foxconn Tech**: Current price at 66.80, target price at 54.00, with a P/E ratio of 26.0 for 2025 [8]. Additional Considerations - The report emphasizes the importance of considering Morgan Stanley Research as one of several factors in investment decision-making, acknowledging potential conflicts of interest [4][5].

证券代码：300098 证券简称：高新兴 公告编号：2025-072 1、召开时间： （1）现场会议日期和时间：2025 年 11 月 14 日（星期五）14:30 （2）网络投票日期和时间： 高新兴科技集团股份有限公司 2025 年第三次临时股东会决议公告 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。 特别提示： 1、本次会议无否决或变更提案的情况。 2、本次股东会以现场投票和网络投票相结合的方式召开。 一、会议召开和出席情况 （一）会议召开情况 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 11 月 14 日，9:15-9:25，9:30-11:30，13:00-15:00。 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 11 月 14 日 9:15-15:00。 2、召开地点：广东省广州市黄埔区科学城开创大道 2819 号本公司一号楼一 楼党建会议室。 3、召开方式：现场投票和网络投票相结合。 （二）会议出席情况 4、召集人：公司第六届董事会。 1、股东出席的总体情况： 5、主持人：董事长刘双广先生。 6、本次会议 ...

广东广信君达律师事务所 关于高新兴科技集团股份有限公司 2025年第三次临时股东会的 法律意见书 中国·广州 法律意见书 地址：广州市珠江新城珠江东路 6 号广州周大福金融中心 10 楼、11 楼、29 楼 电话(Tel)：(020)37181333 传真(Fax)：(020)37181388 法律意见书 广东广信君达律师事务所 关于高新兴科技集团股份有限公司 2025年第三次临时股东会的 法律意见书 致：高新兴科技集团股份有限公司 广东广信君达律师事务所（以下简称"本所"）接受高新兴科技集团股份有 限公司（以下简称"公司"）委托，指派律师出席公司2025年第三次临时股东会 （以下简称"本次股东会"），并依据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、中国证 券监督管理委员会（以下简称"中国证监会"）发布的《上市公司股东会规则》 （以下简称"《股东会规则》"）、《上市公司治理准则》（以下简称"《治理 准则》"）和深圳证券交易所发布的《深圳证券交易所上市公司股东会网络投票 实施细则》等法律、行政法规、规范性文件及现行有效的《高新兴科技集团股份 有限公 ...

Group 1 - The company has established partnerships in the vehicle networking industry, providing reliable wireless connectivity services and in-vehicle terminal products to various automakers such as Geely, Changan, Chery, GAC, Harman (Toyota), Continental, Mobis, Pioneer, and Joyson [2] - The company possesses extensive experience in serving automakers and has a proven track record with millions of vehicle-grade modules [2]

Core Viewpoint - The stock price of Gaoxin Technology has experienced a decline of 0.91% this year, with a notable drop of 4.23% over the last five trading days, indicating a bearish trend in the short term [2]. Company Overview - Gaoxin Technology Group Co., Ltd. is located in Guangzhou, Guangdong Province, and was established on November 14, 1997. It was listed on July 28, 2010. The company specializes in the research, production, sales, and service of comprehensive management systems for communication base stations and machine rooms [2]. - The main business revenue composition includes: 57.90% from vehicle-mounted terminals, with 36.05% from automotive products, and 27.08% from smart justice and video cloud services, including 21.85% from rail transit terminal products [2]. Financial Performance - As of September 30, the company reported a total revenue of 1.318 billion yuan for the first nine months of 2025, representing a year-on-year growth of 39.02%. The net profit attributable to shareholders reached 63.55 million yuan, marking a significant increase of 238.18% [3]. - The company has distributed a total of 181 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [4]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 7.67% to 89,000, while the average circulating shares per person increased by 8.31% to 17,313 shares [3]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 32.55 million shares, an increase of 13.88 million shares from the previous period. Additionally, Guangfa Quantitative Multi-Factor Mixed A (005225) is a new shareholder, holding 4.97 million shares [4].

Core Viewpoint - Highxin Technology Group Co., Ltd. has shown significant growth in revenue and net profit for the first nine months of 2025, indicating strong operational performance in its core business areas [2]. Financial Performance - For the period from January to September 2025, Highxin achieved operating revenue of 1.318 billion yuan, representing a year-on-year increase of 39.02% [2]. - The net profit attributable to shareholders reached 63.55 million yuan, marking a substantial year-on-year growth of 238.18% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Highxin was 89,000, a decrease of 7.67% compared to the previous period [2]. - The average circulating shares per person increased by 8.31% to 17,313 shares [2]. Business Overview - Highxin specializes in the research, development, production, sales, and service of communication base station and machine room operation and maintenance management systems [2]. - The company's main revenue sources include vehicle-mounted terminals (57.90%), with specific contributions from automotive products (36.05%) and smart legal and video cloud services (27.08%) [2]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 32.55 million shares, an increase of 13.87 million shares from the previous period [3]. - The fund "Guangfa Quantitative Multi-Factor Mixed A" (005225) entered as a new shareholder, holding 4.97 million shares [3]. Dividend Information - Since its A-share listing, Highxin has distributed a total of 181 million yuan in dividends, with no dividends paid in the last three years [3].

Core Viewpoint - The company's stock price fluctuations are influenced by various factors including macroeconomic conditions, industry policies, and market trends, while it remains committed to transparent and timely information disclosure to support long-term value through performance [2] Group 1 - The company emphasizes adherence to regulations and accurate information disclosure as part of its operational strategy [2] - The company believes that long-term value will ultimately be supported by its performance [2] - The company is focused on improving its performance to provide better returns for investors [2]

证券代码：300098 证券简称：高新兴 公告编码：2025-071 高新兴科技集团股份有限公司 关于召开 2025 年第三次临时股东会的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 2025 年 10 月 28 日，高新兴科技集团股份有限公司（以下简称"公司"） 在中国证监会指定创业板信息披露网站刊登了《关于召开 2025 年第三次临时股 东会通知的公告》。本次股东会将通过深圳证券交易所交易系统和互联网投票 系统向股东提供网络形式的投票平台。 现公告公司关于召开 2025 年第三次临时股东会通知的提示性公告。 一、召开会议的基本情况 1、股东会届次：2025 年第三次临时股东会。 2、股东会的召集人：董事会。 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易 所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创 业板上市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司 章程》的有关规定。 4、会议召开日期和时间： （1）现场会议时间：2025 年 11 月 14 日（星期五）14:30 （2）网 ...

Core Points - The company announced the convening of the first meeting of the sixth employee stock ownership plan on November 7, 2025 [2] - The meeting approved the establishment of the management committee for the sixth employee stock ownership plan and elected three members [2] - The management committee held its first meeting and elected a chairman for the duration of the plan [2]

Core Viewpoint - The company, Gaoxin Technology, announced the completion of its share repurchase plan, utilizing 3,395,300 shares for its sixth employee stock ownership plan, which represents 0.20% of its total share capital of 1,737,782,275 shares [1] Summary by Categories - **Share Repurchase Details** - The company repurchased a total of 3,395,300 shares from October 27, 2023, to October 27, 2024, through a dedicated repurchase account via centralized bidding [1] - All repurchased shares have been allocated to the sixth employee stock ownership plan, confirming that the actual use aligns with the intended purpose [1] - **Compliance and Regulations** - The share repurchase process has been completed in accordance with the company's established plan and relevant laws and regulations [1]