Core Viewpoint - The stock of New Jingang has experienced a decline of 9.21% year-to-date, with significant drops in revenue and net profit reported for the first half of 2025, indicating potential challenges for the company moving forward [1][2]. Financial Performance - As of August 29, 2025, New Jingang reported a revenue of 1.62 billion yuan for the first half of the year, a decrease of 41.01% year-on-year [2]. - The net profit attributable to shareholders for the same period was 760.14 million yuan, reflecting a substantial decline of 90.34% year-on-year [2]. Stock Market Activity - On October 20, 2025, New Jingang's stock price rose by 2.04% to 19.52 yuan per share, with a trading volume of 49.12 million yuan and a turnover rate of 1.17% [1]. - The company’s market capitalization stood at 4.908 billion yuan [1]. - The net inflow of main funds was 1.849 million yuan, with significant buying activity from large orders [1]. Shareholder Information - As of August 29, 2025, the number of shareholders increased to 25,100, with an average of 8,626 shares held per shareholder, a decrease of 0.32% [2]. - New institutional shareholders include Changcheng Jiujia Innovation Growth Mixed A and Huashang Advantage Industry Mixed A, among others [3]. Dividend Distribution - Since its A-share listing, New Jingang has distributed a total of 1.03 billion yuan in dividends, with 68.08 million yuan distributed over the past three years [3]. Business Overview - New Jingang, established on December 9, 1998, specializes in high-performance metal matrix composites and products, primarily serving the military electronics sector [1]. - The company's revenue composition includes 95.11% from RF microwave products, 4.30% from special application materials, and 0.58% from other sources [1]. - The company is categorized under the defense industry, specifically in military electronics and related sectors [1].

Core Insights - Guangdong Xinjingang Technology Co., Ltd. held a significant investor research event on October 15, 2025, attended by 22 institutions, including the Foshan Listed Companies Association and China International Capital Corporation [1] Group 1: Event Details - The investor relations activity was categorized as a specific audience research and on-site visit, conducted in the multimedia conference room of Guangdong Xinjingang Technology Co., Ltd. The reception team included the board secretary Zhou Yibo and the investor relations director Wang Chong [2] Group 2: Financial Performance Analysis - During the Q&A session, institutions inquired about the reasons for the decline in the company's financial data for the first half of 2025. The company explained that the decrease in revenue was primarily due to concentrated demand from downstream customers disrupting production plans and capacity allocation, along with delays in material delivery from upstream suppliers. Although the second quarter revenue increased by 145.56% compared to the first quarter, it still decreased by 20.03% year-on-year, with total revenue for the first half of 2025 at 162.14 million yuan, a 41.01% decline from the previous year. Additionally, the slow payment processes from downstream customers led to a significant increase in credit impairment losses, resulting in a net profit of 7.60 million yuan, down 90.34% year-on-year [3] Group 3: Civilian Sector Strategy - The company is actively advancing its military-civilian integration strategy. Its RF power amplifier products have entered the C919 industrial chain with small batch deliveries. The establishment of Guangdong Kaiji Intelligent in July 2024 focuses on promoting RF microwave technology in civilian sectors such as low-altitude economy and satellite internet. In the new energy vehicle thermal management sector, the company has delivered samples, but future market performance will depend on industry demand and customer collaboration [4] Group 4: Accounts Receivable Situation - The company addressed the increase in accounts receivable and slow payment issues, attributing them to short-term changes in the specialized application sector. The delays in customer settlements and payment cycles are influenced by industry adjustments and cyclical fluctuations. However, the company's main clients are reputable large research institutions and manufacturers, indicating good quality of accounts receivable with low bad debt risk. The company plans to enhance customer tracking and communication to optimize management mechanisms for faster payment recovery [5] Group 5: Low-altitude Economy Business Progress - In the low-altitude economy sector, the company has won a bid for a micro-target detection radar project with a state-owned listed company in Shenzhen and is advancing equipment installation and delivery. Kaiji Intelligent has signed a strategic cooperation agreement with a drone system developer in Guangzhou to jointly develop drone countermeasure products. The company is also actively addressing low-altitude security needs in the Guangdong-Hong Kong-Macao Greater Bay Area. In the short term, the company will increase R&D investment and accelerate the transformation of technological achievements, aiming to establish a stable market share in the region and become a core supplier of RF microwave technology and solutions [6]

Group 1 - The company Xinjin announced that it will accept investor research on October 15, 2025, from 9:30 to 11:30, with participation from the board secretary Zhou Yibo and others to answer investor questions [1] - There is a significant opportunity in the silver rental market, with annualized interest rates soaring to 35%, indicating a lucrative investment environment [1] - A large volume of silver is being airlifted to the UK for profit, suggesting a major market event characterized as an epic short squeeze [1]

Financial Performance - The company's revenue for the first half of 2025 was CNY 162.14 million, a decrease of 41.01% compared to the same period last year [2] - The net profit attributable to shareholders for the same period was CNY 7.60 million, down 90.34% year-on-year [2] - The second quarter of 2025 saw a 145.56% increase in revenue compared to the first quarter, but a 20.03% decrease compared to the same quarter last year [2] Operational Challenges - The decline in revenue was attributed to concentrated demand from downstream customers, leading to challenges in production planning and capacity allocation [2] - Delays from upstream suppliers due to industry order concentration affected material availability, impacting overall delivery progress [2] - The company faced prolonged payment cycles from downstream customers, resulting in a high balance of accounts receivable and increased credit impairment losses [2][4] Strategic Initiatives - The company is actively pursuing a dual-use strategy, transitioning military technology to civilian applications, particularly in the low-altitude economy and satellite internet sectors [3] - Recent projects include the delivery of radar systems for low-altitude monitoring and strategic partnerships for drone countermeasures [5] - The company aims to establish a stable market share in the low-altitude economy, leveraging its technological advantages [5] Accounts Receivable Management - The increase in accounts receivable is attributed to industry fluctuations and extended settlement periods, typical for the sector [4] - The company maintains a good credit quality with major clients, primarily state-owned enterprises and listed companies, minimizing bad debt risks [4] - Ongoing efforts to enhance communication with clients and optimize accounts receivable management are in place to accelerate payment recovery [4] Mergers and Acquisitions Strategy - The company has a clear acquisition strategy focusing on enhancing its capabilities in special application RF microwave solutions through horizontal and vertical mergers [6] - Investment incubation and acquisitions are being pursued to build a leading position in special application thermal barrier and composite materials [6]

Group 1 - The company, New Jingang, currently has no business dealings with Shenzhen Times Speed Trust [2] - In the RF microwave chip sector, various companies leverage their technological characteristics and core advantages to compete in the market, driving industry development [2] - The company will continue to focus on its main business, enhancing lean management and promoting technological innovation to solidify its production and operations [2] Group 2 - The company aims for high-quality development and strives to deliver better operational results to its investors [2]

Core Viewpoint - The company, 新劲刚 (300629.SZ), currently has no business dealings with Shenzhen Shidai Suxin, indicating a focus on its own operations and partnerships in the industry [1] Group 1: Company Focus - The company is committed to its main business and aims to enhance operational efficiency through lean management and technological innovation [1] - The company emphasizes the importance of high-quality development and aims to deliver better operational results to its investors [1] Group 2: Industry Context - In the field of RF microwave chips, various companies leverage their technological characteristics and core advantages to compete in the market, contributing to industry development [1]

Group 1 - The company Xin Jing Gang (SZ 300629) announced on October 9 that shareholder Zou Weifeng reduced his stake by 120,000 shares, representing 0.048% of the total shares outstanding [1] - The reduction plan has now reached its deadline [1] - As of the report, Xin Jing Gang has a market capitalization of 5 billion yuan [1] Group 2 - For the fiscal year 2024, Xin Jing Gang's revenue composition is as follows: 98.7% from electronics, 0.88% from materials, and 0.43% from other sources [1]

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。 广东新劲刚科技股份有限公司（以下简称"公司"）于 2025 年 6 月 18 日披 露了《关于董事、副总经理减持股份预披露公告》（以下简称"预披露公告"， 公告编号：2025-031），对董事、副总经理邹卫峰先生的股份减持计划进行了预 披露。邹卫峰先生计划：自本公告披露之日起 15 个交易日后的 3 个月内（窗口 期不减持）以集中竞价交易方式共计减持公司股份不超过 160,000 股（占公司总 股本的 0.0636%，占扣除回购专户股数后总股本比例为 0.0640%）。 公司于近日收到上述股东出具的《股份减持完成告知函》。截至本公告日， 上述股东减持计划期限届满，具体情况如下： 一、减持股份计划实施情况 1、减持股份情况： 证券代码：300629 证券简称：新劲刚 公告编号：2025-056 广东新劲刚科技股份有限公司 关于董事、副总经理股份减持计划期限届满 暨实施情况的公告 公司董事、副总经理邹卫峰先生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。 注：1、上述股东减持股份来源为股权激励及资本公积金转增 ...

Core Viewpoint - The company is focusing on advancing its vector signal source technology and is planning to accelerate talent recruitment and equipment procurement to build a comprehensive R&D and production system [1] Group 1 - The company is currently working on a specialized business layout centered around vector signal source technology [1] - There will be a coordinated effort to integrate internal resources to enhance collaboration with its subsidiary, Renjian Microwave, in the production phase [1] - The aim is to jointly promote the development of the vector signal source product line [1]

（编辑 袁冠琳） 证券日报网讯 新劲刚10月9日在互动平台回答投资者提问时表示，公司9kHz~40GHz微波信号源产品具 备核心优势：可提供-120dBm~+17dBm的大动态输出功率，且拥有高杂散信号抑制能力、低相位噪声特 性，以及卓越的信号纯度与频率稳定性。该产品主要应用于半导体、雷达、量子、通信等领域，为相关 领域的器件、模块、组件及系统提供调试与测试支持。 ...