Core Viewpoint - The stock of Feirongda has shown significant volatility, with a year-to-date increase of 48.26% but a recent decline of 13.29% over the past five trading days, indicating potential market fluctuations and investor sentiment changes [1]. Company Overview - Feirongda Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on November 10, 1993. The company went public on January 26, 2017. Its main business involves the research, design, production, and sales of electromagnetic shielding materials and thermal management materials [1]. - The company's revenue composition includes thermal management materials and devices (39.94%), electromagnetic shielding materials and devices (28.83%), lightweight functional devices (27.97%), and other supplementary products (3.26%) [1]. Financial Performance - For the first half of 2025, Feirongda achieved a revenue of 2.883 billion yuan, representing a year-on-year growth of 32.92%. The net profit attributable to shareholders was 166 million yuan, showing a substantial increase of 193.70% [2]. - Since its A-share listing, Feirongda has distributed a total of 143 million yuan in dividends, with 41.12 million yuan distributed over the past three years [3]. Shareholder Information - As of August 29, 2025, the number of shareholders for Feirongda was 48,500, a decrease of 4.83% from the previous period. The average number of circulating shares per person increased by 5.07% to 8,146 shares [2]. - As of June 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 11.7208 million shares, an increase of 8.8499 million shares from the previous period [3].

证券日报网讯飞荣达（300602）9月4日在互动平台回答投资者提问时表示，截至2025年8月29日，公司 股东总户数为48539户。 ...

长城证券股份有限公司 关于深圳市飞荣达科技股份有限公司 2025年半年度跟踪报告 | 保荐机构名称：长城证券股份有限公司 | 被保荐公司名称：深圳市飞荣达科技股份有 | | --- | --- | | | 限公司 | | 保荐代表人姓名：林颖 | 联系电话：0755-83516222 | | 保荐代表人姓名：高俊 | 联系电话：0755-83516222 | 一、保荐工作概述 | 项 目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 保荐代表人均及时审阅公司信息披露文件 | | （2）未及时审阅公司信息披露文件的次数 | 0 | | 2．督导公司建立健全并有效执行规章制度的情 | | | 况 | | | （1）是否督导公司建立健全规章制度（包括但 不限于防止关联方占用公司资源的制度、募集 | | | | 是 | | 资金管理制度、内控制度、内部审计制度、关 | | | 联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月一次，已查 ...

Core Viewpoint - Feirongda's stock price has experienced a decline, reflecting market concerns and recent capital outflows, while the company is actively engaging in R&D partnerships in the AI and liquid cooling technology sectors [1][2]. Group 1: Stock Performance - As of August 26, 2025, Feirongda's stock price is reported at 32.88 yuan, down 1.91% from the previous trading day [1]. - The opening price for the day was 33.25 yuan, with a high of 34.40 yuan and a low of 32.75 yuan, resulting in a trading volume of 433,000 lots and a transaction amount of 1.45 billion yuan [1]. Group 2: Business Overview - Feirongda specializes in the R&D, production, and sales of electromagnetic shielding materials and thermal conductive materials, with applications in consumer electronics, communication devices, and new energy vehicles [1]. - The company is categorized under the consumer electronics and Shenzhen Special Economic Zone concept sectors [1]. Group 3: Client Engagement and Technology Development - In the AI sector, Feirongda has established client relationships with companies such as H Company, DJI, and UBTECH [1]. - The company has made technological preparations for liquid cooling technology and is collaborating with major smartphone manufacturers on R&D, although no production orders have been secured yet [1]. Group 4: Capital Flow - On August 26, 2025, Feirongda experienced a net capital outflow of 80.76 million yuan, with a cumulative net outflow of 459 million yuan over the past five trading days [2].

Core Viewpoint - The company, Feirongda, confirmed its involvement in the artificial intelligence sector and listed several key clients in the robotics industry, indicating a strong position in the market [1] Group 1: Clientele and Partnerships - Feirongda's current clients in the AI field include notable companies such as H Company, Dajiang, Ubtech, Parsini, Pudu Technology, Tennant, Gaomei Cleaning Equipment, and Tineco [1] - The company has signed confidentiality agreements with some clients, limiting the disclosure of certain customer information [1] Group 2: Future Developments - Feirongda plans to actively engage in new product development and technology reserves in response to client needs [1]

Core Viewpoint - The company Fei Rong Da (300602) reported that as of August 20, 2025, the total number of shareholders is 51,002 [1] Summary by Relevant Sections - Company Information - Fei Rong Da has a total of 51,002 shareholders as of the specified date [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、完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳市飞荣达科技股份有限公司（以下简称"公司"）于2025年8月15日召开第 六届董事会第十次会议和第六届监事会第九次会议，分别审议通过了《关于使用部 分闲置募集资金暂时补充流动资金的议案》，同意公司使用闲置募集资金不超过人民 币40,000万元暂时补充公司日常经营所需的流动资金，使用期限自董事会批准之日 起不超过12个月，到期或募集资金投资项目需要时及时归还至募集资金专户。同时， 同意公司开立相应的募集资金专项账户，用于暂时补充流动资金的闲置募集资金的 管理、存放与使用，并授权公司管理层办理开立募集资金专项账户及签订募集资金 三方监管协议等相关事项。 近日，公司与中国银行股份有限公司前海蛇口分行、保荐机构长城证券股份有 限公司（以下简称"长城证券"）签订了《募集资金三方监管协议》。现将相关事项 公告如下： 深圳市飞荣达科技股份有限公司 关于新增募集资金专项账户并签订募集资金三方监管协议 证券代码：300602 证券简称：飞荣达 公告编号：2025-065 的公告 一、募集资金基本情况 经中国证券监督管理委员会《 ...

Company Overview - Shenzhen Feirongda Technology Co., Ltd. is located in Guangming District, Shenzhen, Guangdong Province, and was established on November 10, 1993. The company was listed on January 26, 2017. Its main business involves the research, design, production, and sales of electromagnetic shielding materials and devices, as well as thermal management materials and devices [1]. Financial Performance - For the first half of 2025, Feirongda achieved operating revenue of 2.883 billion yuan, representing a year-on-year growth of 32.92%. The net profit attributable to shareholders was 166 million yuan, showing a significant year-on-year increase of 193.70% [2]. - Since its A-share listing, Feirongda has distributed a total of 143 million yuan in dividends, with 41.12 million yuan distributed over the past three years [3]. Stock Performance - As of August 26, Feirongda's stock price increased by 2.03%, reaching 34.20 yuan per share, with a total market capitalization of 19.9 billion yuan. The stock has risen by 78.29% year-to-date, but has seen a decline of 2.95% over the past five trading days [1]. - The stock's trading volume on August 26 was 559 million yuan, with a turnover rate of 4.21% [1]. Shareholder Information - As of August 8, the number of shareholders for Feirongda was 39,300, an increase of 18.41% from the previous period. The average number of circulating shares per person decreased by 15.55% to 10,067 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth-largest circulating shareholder, holding 11.7208 million shares, an increase of 8.8499 million shares from the previous period [3].

Group 1 - The core viewpoint of the article highlights the recent movements of social security funds in the A-share market, revealing that they have entered the top ten circulating shareholders of 71 new stocks in the second quarter of 2025 [1] - Su Shi Testing has the highest number of new social security fund holdings, with 3 new holdings, while Shanghai Jahwa and Xin Qiang Lian each have 2 new holdings [1] - The article provides a detailed list of companies that have seen new social security fund investments, including their respective shareholding numbers, quantities, and market values [2][3][4][5] Group 2 - Specific companies mentioned include Su Shi Testing with 1,486.20 thousand shares valued at 213 million yuan, Shanghai Jahwa with 1,150.51 thousand shares valued at 242 million yuan, and Xin Qiang Lian with 555.56 thousand shares valued at 199 million yuan [2][3] - Other companies with new social security fund holdings include Hengdian East Magnetic, Nuofushin, and Baichu Electronics, each with 1 new holding, along with their respective share quantities and market values [2][3][4] - The article lists a total of 71 companies that have received new investments from social security funds, indicating a diverse range of industries from agriculture to electronics and pharmaceuticals [2][3][4][5]

Investment Rating - The report assigns a "Buy-A" investment rating to the company with a target price of 42.63 CNY per share, based on a PE valuation of 61 times for 2025 [5][8]. Core Insights - The company's revenue for the first half of 2025 reached 2.883 billion CNY, a year-on-year increase of 27.42%, while net profit attributable to shareholders was 166 million CNY, up 118.54% year-on-year [1][2]. - The growth in revenue is primarily driven by increasing demand in downstream application areas, particularly in new energy, consumer electronics, and communication sectors [2][3]. - The company is expected to achieve revenues of 6.36 billion CNY, 7.95 billion CNY, and 9.98 billion CNY for the years 2025 to 2027, with corresponding net profits of 407 million CNY, 573 million CNY, and 748 million CNY [4][16]. Revenue and Profitability - The overall gross margin for the first half of 2025 was 19.58%, reflecting a slight increase of 1.72 percentage points year-on-year, impacted by high initial costs for new projects and rising prices of raw materials like copper and aluminum [2][3]. - The company's net profit margin improved to 6.07%, an increase of 3.86 percentage points year-on-year [2]. Business Segments Performance - Thermal management materials and devices generated 1.085 billion CNY in revenue, a year-on-year increase of 37.53%, with a gross profit of 181 million CNY and a gross margin of 16.70% [3]. - Electromagnetic shielding materials and devices achieved revenue of 783 million CNY, up 13.68% year-on-year, with a gross profit of 233 million CNY and a gross margin of 29.82% [3]. - Lightweight materials and devices reported revenue of 760 million CNY, a year-on-year increase of 35.21%, with a gross profit of 88 million CNY and a gross margin of 11.55% [3]. Future Projections - The company anticipates continued growth in its thermal management business, with projected revenues of 2.517 billion CNY, 3.271 billion CNY, and 4.253 billion CNY from 2025 to 2027, reflecting year-on-year growth rates of 35% [15]. - The electromagnetic shielding segment is expected to generate revenues of 1.506 billion CNY, 1.732 billion CNY, and 1.992 billion CNY over the same period, with a consistent growth rate of 15% [15]. - The lightweight materials segment is projected to achieve revenues of 975 million CNY, 1.316 billion CNY, and 1.777 billion CNY, also with a growth rate of 35% [15].