长芯博创科技股份有限公司（以下简称"公司"）因实施股权激励导致公司总 股本增加，致使公司控股股东、实际控制人长飞光纤光缆股份有限公司（以下简 称"长飞光纤"）所持有的公司股份比例由 19.3637%被动稀释至 18.9956%，现 将有关情况公告如下： | 1.基本情况 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 信息披露义务人 | | 长飞光纤光缆股份有限公司 | | | | | | | | | 住所 | | 湖北省武汉市东湖新技术开发区光谷大道九号 | | | | | | | | | 权益变动时间 | | 2023 年 8 月 25 2025 年 12 月 4 日 | | 日至 | | | | | | | | | 2023 年 8 月 25 2025 12 月 4 日期间，公司实施股 | | 日至 | 年 | | | | | | | | 权激励，公司总股本由 286,020,618 股变更为 | | | | | | | 291,563,478 | | 权益变动过程 | | 股，公司控 ...

| 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 300502 | 新易盛 | 每 | 6.01 | 3846亿 | 370.59 | | 300394 | 天孚通信 | 的 | 4.31 | 1314亿 | 161.08 | | 300548 | 长芯博创 | 彩 | 3.78 | 355亿 | 163.03 | | 688313 | 仕佳光子 | 家 | 3.06 | 364Z | 384.99 | | 603083 | 剑桥科技 | | 2.93 | 388亿 | 172.34 | | 002725 | 跃岭股份 | | 2.39 | 38.43亿 | 39.89 | | 300308 | 中际旭创 | � | 1.69 | 6124亿 | 348.49 | | 600105 | 永鼎股份 | | 1.44 | 236 Z | 228.58 | | 300757 | 罗博特 | 第 | 1.38 | 338亿 | -10.51 | | 301205 | 联特科技 | 策 | 1.33 | 158亿 ...

特别提示： 1、本次归属股票上市流通日：2025 年 12 月 5 日。 2、本次归属的激励对象总人数为 12 名，为公司 2024 年限制性股票激励计 划预留授予部分第一个归属期第一批次归属人员，归属股票数量为 242,500 股， 占归属前公司总股本的 0.08%。 证券代码：300548 证券简称：博创科技 公告编号：2025-081 长芯博创科技股份有限公司 关于 2024 年限制性股票激励计划预留授予部分第一个归属期第一批次归属结果 暨股份上市的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，并且没有 虚假记载、误导性陈述或重大遗漏。 一、 2024 年激励计划实施情况概要 （一）2024 年激励计划简述 《博创科技股份有限公司 2024 年限制性股票激励计划》及其摘要已经公司 第六届董事会第四次会议、第六届监事会第四次会议及 2024 年第二次临时股东 大会审议通过，主要内容如下： 1、激励形式：第二类限制性股票 2、股票来源：公司向激励对象定向发行的本公司人民币 A 股普通股股票和 /或从二级市场回购的本公司人民币 A 股普通股股票 3、授予价格：13.29 元/股（调整前） 4 ...

Quantitative Models and Construction Methods 1. Model Name: Liquidity Impact Coefficient Model - **Model Construction Idea**: This model measures the liquidity impact of index adjustments on individual stocks by calculating the ratio of net fund flows to the stock's recent average daily trading volume[12][13] - **Model Construction Process**: The liquidity impact coefficient for a stock is calculated as follows: $$ impact_{i} = \sum_{k=1}^{N} \frac{\Delta weight_{k,i} \times AUM_{k}}{amt\_avg_{i,20}} $$ - \( \Delta weight_{k,i} \): Estimated weight change of stock \( i \) in index \( k \) - \( AUM_{k} \): Total assets under management of passive products tracking index \( k \) as of the end of November - \( amt\_avg_{i,20} \): Average daily trading volume of stock \( i \) over the past 20 trading days as of the end of November[12][13] - **Model Evaluation**: The model provides a quantitative framework to estimate short-term liquidity shocks caused by index adjustments, but it is subject to data discrepancies and assumptions, which may lead to deviations from actual results[13] --- Model Backtesting Results Liquidity Impact Coefficient Model - **Top 5 Stocks with Highest Positive Impact Coefficients**: - Zhangjiagang Bank (002839 CH): 11.55[15] - Jiangzhong Pharmaceutical (600750 CH): 11.44[15] - Tower Group (002233 CH): 11.04[15] - Jichuan Pharmaceutical (600566 CH): 10.14[15] - Zhengbang Technology (002157 CH): 9.99[15] - **Top 5 Stocks with Highest Negative Impact Coefficients**: - Shenzhen Expressway (600548 CH): -24.95[16] - Vanward Electric (002543 CH): -20.90[16] - Aviation Materials (688563 CH): -14.06[16] - Huaxi Biology (688363 CH): -10.81[16] - Ninghu Expressway (600377 CH): -10.54[16] --- Quantitative Factors and Construction Methods 1. Factor Name: Net Fund Flow Factor - **Factor Construction Idea**: This factor estimates the net fund inflow or outflow for stocks due to index adjustments, based on changes in index weights and the total AUM of passive products tracking the index[9][10] - **Factor Construction Process**: - Outflow Amount: Total AUM of linked products multiplied by the stock's actual weight in the index as of the end of November - Inflow Amount: Total AUM of linked products multiplied by the estimated weight of the stock in the index post-adjustment - Weight estimation is based on free-float market capitalization and index-specific weighting rules, such as dividend yield weighting or market capitalization weighting[9][10] - **Factor Evaluation**: The factor provides a transparent and systematic approach to estimate fund flows, but it is sensitive to assumptions about future index weights and AUM changes[9][10] --- Factor Backtesting Results Net Fund Flow Factor - **Top 5 Stocks with Highest Net Fund Inflows**: - Victory Precision (300476 CH): 112.61 billion CNY[10] - Dongshan Precision (002384 CH): 99.32 billion CNY[10] - Guangqi Technology (002625 CH): 77.81 billion CNY[10] - Sugon Information (603019 CH): 65.44 billion CNY[10] - Top Group (601689 CH): 53.07 billion CNY[10] - **Top 5 Stocks with Highest Net Fund Outflows**: - China Mobile (600941 CH): -40.02 billion CNY[11] - CRRC Corporation (601766 CH): -36.40 billion CNY[11] - Aluminum Corporation of China (601600 CH): -34.29 billion CNY[11] - TCL Zhonghuan (002129 CH): -30.07 billion CNY[11] - Huagong Tech (000988 CH): -27.44 billion CNY[11]

Market Overview - The Shanghai Composite Index rose by 0.34% on November 28, with 29 out of 31 sectors experiencing gains, led by the steel and agriculture sectors, both up by 1.59% [1] - The telecommunications sector saw a modest increase of 0.12%, while the banking and coal sectors faced declines of 0.83% and 0.14%, respectively [1] Capital Flow Analysis - The net inflow of capital in the two markets reached 10.84 billion yuan, with 19 sectors experiencing net inflows [1] - The electronics sector led the net inflow with 3.423 billion yuan and a daily increase of 1.30%, followed by the non-ferrous metals sector, which saw a net inflow of 3.051 billion yuan and a daily increase of 1.44% [1] Telecommunications Sector Performance - In the telecommunications sector, there were 124 stocks, with 86 rising and 36 falling; 2 stocks hit the daily limit up [2] - The top net inflow stocks included Xinyi Technology with 627 million yuan, Tianfu Communication with 433 million yuan, and Changxin Bochuang with 355 million yuan [2] - The sector experienced a net outflow of 1.311 billion yuan, with the largest outflows from Zhongji Xuchuang (799 million yuan), ZTE Corporation (695 million yuan), and Yongding Co. (276 million yuan) [2][4] Top Gainers in Telecommunications - Notable gainers in the telecommunications sector included: - Xinyi Technology: +2.05%, turnover rate 4.68%, net inflow 626.81 million yuan - Tianfu Communication: +1.88%, turnover rate 4.71%, net inflow 432.73 million yuan - Changxin Bochuang: +7.22%, turnover rate 18.54%, net inflow 354.54 million yuan [2] Top Losers in Telecommunications - Major losers in the telecommunications sector included: - Zhongji Xuchuang: -1.81%, turnover rate 2.94%, net outflow 796.74 million yuan - ZTE Corporation: -0.50%, turnover rate 3.48%, net outflow 695.40 million yuan - Yongding Co.: -1.26%, turnover rate 12.93%, net outflow 275.75 million yuan [4]

Market Overview - The communication equipment sector experienced a decline of 0.27% on November 27, with Meilixin leading the drop [1] - The Shanghai Composite Index closed at 3875.26, up 0.29%, while the Shenzhen Component Index closed at 12875.19, down 0.25% [1] Top Performers - Tongyu Communication (002792) saw a significant increase of 10.03%, closing at 21.62 with a trading volume of 576,300 shares and a transaction value of 1.207 billion [1] - LianTe Technology (301205) rose by 9.98%, closing at 134.73 with a trading volume of 196,100 shares and a transaction value of 2.507 billion [1] - Other notable gainers include Taicheng Light (300570) up 7.51%, Guanghetong (300638) up 7.09%, and Cambridge Technology (603083) up 5.95% [1] Underperformers - Meilixin (301307) experienced a significant drop of 11.70%, closing at 35.86 with a trading volume of 257,600 shares and a transaction value of 963 million [2] - Shida Group (600734) fell by 9.92%, closing at 5.54 with a trading volume of 3,512,400 shares and a transaction value of 76.67 million [2] - Other notable decliners include Ruisi Kanda (603803) down 6.35% and Changxin Bochuang (300548) down 3.84% [2] Capital Flow - The communication equipment sector saw a net outflow of 2.31 billion from institutional investors, while retail investors contributed a net inflow of 1.647 billion [2][3] - Notable net inflows from retail investors were observed in companies like Cambridge Technology and Guanghetong, while significant outflows were noted in Meilixin and Taicheng Light [3] Individual Stock Capital Flow - ZTE Corporation (000063) had a net inflow of 787 million from institutional investors, while retail investors saw a net outflow of 337 million [3] - Taicheng Light (300570) had a net inflow of 319 million from institutional investors, with retail investors experiencing a net outflow of 174 million [3] - Cambridge Technology (603083) recorded a net inflow of 238 million from institutional investors and a net inflow of 159 million from retail investors [3]

Group 1 - The total margin financing and securities lending balance in A-shares reached 24,630.32 billion yuan, an increase of 43.63 billion yuan from the previous trading day, accounting for 2.59% of the A-share circulating market value [1][2] - The trading volume of margin financing and securities lending on the same day was 1,879.83 billion yuan, which is an increase of 230.65 billion yuan from the previous trading day, representing 10.29% of the total A-share trading volume [1][2] Group 2 - In terms of industry capital flow, among the 31 primary industries tracked by Shenwan, 24 industries experienced net financing inflows, with the telecommunications industry leading with a net inflow of 1.651 billion yuan [2] - Other industries with significant net financing inflows included defense and military, electronics, and machinery equipment [2] Group 3 - A total of 25 stocks had net financing inflows exceeding 100 million yuan, with Xinyi Technology leading at 513 million yuan [3][4] - Other notable stocks with high net financing inflows included Guangku Technology, ZTE Corporation, Luxshare Precision, Zhongji Xuchuang, Shenghong Technology, Changxin Bochuang, Sunshine Power, Yidian Tianxia, and Changcheng Military Industry [3][4]

Core Insights - The optical fiber concept index rose by 3.61%, ranking third among concept sectors, with 72 stocks increasing in value, including a 20% limit up for companies like Changguang Huaxin and Guangku Technology [1][2] Group 1: Market Performance - The optical fiber sector saw a net inflow of 4.09 billion yuan, with 42 stocks receiving net inflows, and 12 stocks exceeding 100 million yuan in net inflows [2] - Leading the net inflow was Yongding Co., with 935 million yuan, followed by Changxin Bochuang and Guangku Technology with 630 million yuan and 539 million yuan respectively [2][3] Group 2: Stock Performance - Top performers included Yongding Co. (10.01% increase), Changxin Bochuang (13.87% increase), and Guangku Technology (20.00% increase) [3][4] - Stocks with the highest net inflow ratios were Fuzhijing Technology (45.00%), Yongding Co. (31.96%), and Changfei Optical Fiber (29.99%) [3][4] Group 3: Sector Comparison - The F5G concept led the day's gains with a 4.52% increase, while the optical fiber concept followed closely at 3.61% [2] - Other sectors such as metal lead and Hainan Free Trade Zone also showed positive performance, indicating a generally favorable market environment for certain sectors [2]

Core Insights - The A-share market has seen strong performance in the communication equipment sector, with several stocks hitting their daily limit up [1] Group 1: Stock Performance - Dekoli (得料) reached a 20% increase, hitting the daily limit up, with a total market capitalization of 22.6 billion [2] - Guangku Technology (光库科技) also approached a 20% increase, with a market cap of 36.6 billion [2] - Changxin Bochuang (长芯博创) rose over 14%, with a market cap of 36 billion [2] - Kexin Technology (科信技术) and Shijia Photon (仕佳光子) both increased by over 10%, with market caps of 3.204 billion and 34.9 billion respectively [2] - Other notable performers include Ruisi Kanda (瑞斯康达) and Yongding Co. (永鼎股份), both achieving around 10% increase [2] Group 2: Year-to-Date Performance - Dekoli has shown a year-to-date increase of 104.7% [2] - Guangku Technology has a remarkable year-to-date increase of 202.57% [2] - Changxin Bochuang has increased by 166.85% year-to-date [2] - Kexin Technology has a modest year-to-date increase of 7.01% [2] - Shijia Photon has an impressive year-to-date increase of 364.64% [2]

Core Viewpoint - The CPO concept stocks have shown strong performance, with the sector index rising over 10% as of November 25 [1]. Group 1: Stock Performance - Dekoli, Changguang Huaxin, and Guangku Technology all reached a 20% limit up [3]. - Other stocks such as Changxin Bochuang, Liante Technology, and Taicheng Light have increased by over 10% [3]. - The current prices and performance of key stocks are as follows: - Dekoli: 142.56, +20.00% - Changguang Huaxin: 89.29, +20.00% - Guangku Technology: 147.00, +20.00% - Changxin Bochuang: 126.87, +17.45% - Shijia Photon: 78.16, +13.37% - Taicheng Light: 99.38, +11.81% - Liante Technology: 125.40, +11.59% - Yuanjie Technology: 573.07, +9.99% - Dongshan Precision: 70.07, +8.89% [4]. Group 2: Market Indices - The Shanghai Composite Index is at 3878.60, up 1.09% [5]. - The Shenzhen Component Index is at 12831.01, up 1.95% [5]. - The ChiNext Index is at 3006.27, up 2.64% [5].