Summary of Key Points Core Viewpoint - Donghua Testing (300354.SZ) announced that its controlling shareholder, Liu Shigang, holds 66,766,140 shares, representing 48.27% of the total share capital. Additionally, the concerted actor, Luo Mian, holds 5,253,100 shares, accounting for 3.80% of the total share capital. Both shareholders plan to reduce their holdings by up to 2,752,500 shares, which is 1.99% of the total share capital, within three months starting from December 31, 2025, through centralized bidding or block trading [1]. Group 1 - Controlling shareholder Liu Shigang holds 66,766,140 shares, which is 48.27% of the total share capital [1] - Concerted actor Luo Mian holds 5,253,100 shares, representing 3.80% of the total share capital [1] - Shareholders plan to reduce holdings by up to 2,752,500 shares, equating to 1.99% of the total share capital, within a specified timeframe [1]

东华测试公告，公司控股股东刘士钢持有6676.61万股，占48.27%；一致行动人罗沔持有525.31万股， 占3.80%。二人计划自公告披露之日起十五个交易日后的三个月内，即2025年12月31日至2026年3月30 日，通过集中竞价或大宗交易方式合计减持不超过275.25万股，占公司总股本1.99%。其中，刘士钢拟 减持不超过143.93万股，占1.04%；罗沔拟减持不超过131.32万股，占0.95%。减持原因系个人资金需 求，减持价格将视市场价格确定。 ...

证券代码：300354 证券简称：东华测试 公告编号：2025-054 江苏东华测试技术股份有限公司 关于控股股东及一致行动人减持股份预披露的公告 公司控股股东刘士钢先生及一致行动人罗沔女士保证向本公司提供的信息 内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体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： 江苏东华测试技术股份有限公司（以下简称"公司"）控股股东刘士钢先生 持有公司股份66,766,140股（占公司总股本的48.27%）；控股股东的一致行动人 罗沔女士持有公司股份5,253,100股（占公司总股本的3.80%）。 上述股东计划自本公告披露之日起十五个交易日后的三个月内（即2025年12 月31日至2026年3月30日）以集中竞价交易方式或大宗交易方式减持本公司股份 合计不超过2,752,500股（占公司总股本的1.99%）。 一、股东基本情况 | 股东名称 | 股东类别 | 持股总数（股） | 占公司总股本比例 | | --- | --- | --- | --- | | 刘士钢 | 控股股东 | 66,766,140 | 48.27% | | 罗沔 ...

Core Viewpoint - The company is actively focusing on the commercial aerospace sector and market expansion through technical exchanges with various research institutions related to aerospace [2] Group 1 - The company is engaging in detailed technical discussions with aerospace-related research institutions to understand their technical needs [2] - The company aims to provide targeted testing solutions and systems to assist users in completing aerospace-related research and production tasks [2]

Group 1 - The company, Donghua Testing, is a leading provider of structural mechanics performance research and integrated solutions for electrochemical workstations in China [2] - The company's products are widely used across various industries, including aerospace, shipbuilding, bridge construction, rail transportation, automotive, and energy chemical sectors [2]

Group 1: Core Insights - The report emphasizes that the AI wave is initiating a new cycle in intelligent manufacturing, shifting the investment focus from cyclical fluctuations to "new hard-core" assets that can define the future and support the AI trend [8][9]. - Human-shaped robots are highlighted as the ultimate embodiment of AI intelligence, expected to revolutionize labor liberation and serve as a universal platform for AI interaction with the physical world [9][10]. - The report identifies solid-state batteries as a key technology that will unlock performance ceilings for human-shaped robots and electric vehicles due to their high energy density and safety [9][10]. Group 2: Human-Shaped Robots - The human-shaped robot industry is transitioning from concept validation to commercialization, with companies that have developed product capabilities in key components likely to experience significant valuation increases [13][17]. - The investment strategy focuses on essential hardware components rather than single manufacturers due to the uncertainty in design solutions, creating unique investment opportunities [25][28]. - Key companies to watch in this sector include Xinjie Electric, Huichuan Technology, and Weichuang Electric, which are positioned to benefit from the growth in human-shaped robots [17][30]. Group 3: AI Equipment and Materials - The demand for AI-related infrastructure is surging, leading to significant growth in high-performance servers, GPUs, and advanced PCB requirements [32][36]. - The PCB specialized equipment market is expected to grow from $3.306 billion in 2020 to $4.111 billion in 2024, with a CAGR of 5.60% in China [32][34]. - Key players in the equipment sector include Dazhu CNC and Chip Quik, which are well-positioned to capitalize on the increasing demand for advanced PCB manufacturing [36][40]. Group 4: Solid-State Batteries - The solid-state battery industry is accelerating towards commercialization, with major manufacturers like CATL and Zhongxin Innovation targeting 2027 for small-scale production [9][10]. - The global solid-state battery equipment market is projected to reach ¥107.94 billion by 2030, indicating a significant capital expenditure cycle ahead [9][10]. - Companies such as Lead Intelligent and Hai Moxing are recommended for their potential to benefit from this new capital expenditure cycle [9][10]. Group 5: Controlled Nuclear Fusion - Controlled nuclear fusion is transitioning from experimental phases to industrialization, with significant advancements in research and increased capital investment driving the industry forward [9][10]. - The report suggests focusing on companies involved in nuclear fusion projects, such as Hangyang Co. and Shanghai Electric, which are positioned to gain from this emerging sector [9][10]. - The demand for energy solutions is expected to grow, making nuclear fusion a critical area for investment as it promises to provide sustainable energy sources [9][10]. Group 6: Engineering Machinery - The domestic engineering machinery market is recovering, with excavator sales showing a positive trend, while overseas demand is also increasing due to factors like housing construction and manufacturing sector recovery [6][9]. - Major projects in China, such as the Yaxi Water Conservancy Project and the Xinjiang-Tibet Railway, are expected to boost domestic machinery demand [6][9]. - Key companies in this sector include Sany Heavy Industry, XCMG, and Zoomlion, which are anticipated to benefit from both domestic recovery and international expansion [6][9].

证券日报网讯12月1日，东华测试（300354）在互动平台回答投资者提问时表示，公司将持续紧跟行业 发展趋势，积极把握政策机遇，以技术实力驱动持续成长。 ...

Core Viewpoint - Donghua Testing (300354) has over 30 years of deep accumulation in structural mechanics performance testing, with core technology being independently controllable and a mature complete solution established [1] Group 1 - The company has developed multiple key testing systems and customized solutions to support the research and production tasks of top aerospace research institutes in China through continuous collaboration [1] - The company emphasizes its commitment to keeping pace with industry development trends and actively seizing policy opportunities to drive sustained growth through technological strength [1]

Group 1 - The company, Donghua Testing, engages in detailed technical exchanges with various research institutes related to aerospace to understand technical needs [2] - The company provides targeted testing solutions and systems to assist users in completing aerospace-related research and production tasks [2]

Core Viewpoint - Donghua Testing has experienced a significant stock price increase, with a 5.22% rise on December 1, reaching 45.55 CNY per share, and a total market capitalization of 6.3 billion CNY [1] Company Overview - Jiangsu Donghua Testing Technology Co., Ltd. was established on March 8, 1993, and listed on September 20, 2012. The company specializes in the research, development, production, and sales of structural mechanics performance testing instruments and related software, as well as providing application solutions and technical services [1] - The main revenue composition includes: 71.99% from structural mechanics performance testing analysis systems, 12.89% from structural safety online monitoring and defense equipment PHM systems, 10.54% from electrochemical workstations, and 4.58% from other supplementary services [1] Shareholder Information - Huafu Fund's Huafu Technology Momentum Mixed A (007713) has entered the top ten circulating shareholders of Donghua Testing, holding 1.9 million shares, which is 2.34% of the circulating shares. The fund has gained approximately 4.294 million CNY in floating profit today and 2.698 million CNY during the four-day price increase [2] - Huafu Technology Momentum Mixed A was established on November 6, 2019, with a latest scale of 1 billion CNY. Year-to-date returns are 79.81%, ranking 140 out of 8199 in its category, while the one-year return is 98.13%, ranking 67 out of 8131 [2] - The fund manager, Shen Cheng, has been in position for 3 years and 339 days, with a total asset scale of 4.667 billion CNY. The best fund return during his tenure is 49.9%, while the worst is 20.98% [2]