Core Points - The stock price of CaiXun Co., Ltd. dropped by 2.06% on November 5, trading at 26.64 CNY per share with a market capitalization of 12.02 billion CNY [1] - The company has seen a year-to-date stock price increase of 23.10%, with a recent 4.80% rise over the last five trading days [1] - CaiXun Co., Ltd. operates in the industrial internet technology and service sector, focusing on enterprise information technology [1][2] Financial Performance - For the period from January to September 2025, CaiXun Co., Ltd. reported a revenue of 1.341 billion CNY, reflecting a year-on-year growth of 10.81%, and a net profit attributable to shareholders of 196 million CNY, up by 0.61% [2] - The company has distributed a total of 320 million CNY in dividends since its A-share listing, with 211 million CNY distributed over the past three years [3] Shareholder Information - As of October 20, 2025, the number of shareholders for CaiXun Co., Ltd. was 44,700, a decrease of 4.20% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the fifth largest shareholder, holding 4.2254 million shares, marking a new entry [3]

Core Points - The Shanghai Composite Index closed at 4009.81 points, slightly down by 0.16%, with a total trading volume of 202.97 billion yuan [1] - A total of 29 A-shares have surpassed their annual moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates from their annual moving average include: - Huaihe Energy (5.10%) - Longban Media (3.78%) - China Oilfield Services (3.49%) [1] - Other stocks that have just crossed the annual moving average with smaller deviation rates include: - Fulete - China Railway - China National Heavy Duty Truck [1] Trading Data - The trading data for stocks that broke through the annual moving average on October 30 includes: - Huaihe Energy: +5.95% with a turnover rate of 5.94% - Longban Media: +3.99% with a turnover rate of 3.15% - China Oilfield Services: +4.58% with a turnover rate of 1.43% [1] - Additional stocks with notable performance include: - Guangha Tongxin: +7.41% - Runze Technology: +7.35% - BlueFocus Communication: +9.49% [1]

Core Viewpoint - The performance of the Zhongzheng 1000 ETF Enhanced (561280) shows a positive trend with a year-to-date return of 52.00% since its establishment on August 31, 2023, indicating strong market interest and potential investment opportunities [1] Group 1: Fund Performance - The Zhongzheng 1000 ETF Enhanced opened at 1.514 yuan, reflecting a 0.46% increase [1] - The fund's performance benchmark is the Zhongzheng 1000 Index return [1] - The fund manager is Industrial Bank of China Credit Fund Management Co., Ltd., with Liu Zihao as the fund manager [1] Group 2: Stock Performance - Key stocks in the fund include: - Boqian New Materials: down 0.17% - Haoyuan Pharmaceutical: up 0.36% - Yingjixin: down 0.31% - Caixun Co.: down 0.28% - Jinma Amusement: up 0.13% - Panjiang Co.: down 0.38% - Jindawei: up 0.20% - Yiyuan Communication: up 0.02% - Minxin Co.: down 5.44% - Nami Technology: down 0.06% [1] Group 3: Recent Returns - The fund has achieved a return of 1.93% over the past month [1]

Core Viewpoint - CaiXun Co., Ltd. has shown a positive stock performance with a year-to-date increase of 19.82%, despite recent fluctuations in the stock price [1][2]. Financial Performance - For the period from January to September 2025, CaiXun achieved a revenue of 1.341 billion yuan, representing a year-on-year growth of 10.81%, while the net profit attributable to shareholders was 196 million yuan, with a slight increase of 0.61% [2]. - The company has distributed a total of 320 million yuan in dividends since its A-share listing, with 211 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 30, 2023, CaiXun's stock price was 25.93 yuan per share, with a trading volume of 1.79 billion yuan and a turnover rate of 1.62%, resulting in a total market capitalization of 11.7 billion yuan [1]. - The stock has seen a net inflow of 1.9641 million yuan from main funds, with significant buying activity from large orders [1]. Shareholder Structure - As of October 20, 2023, the number of shareholders for CaiXun was 44,700, a decrease of 4.20% from the previous period, with an average of 9,712 circulating shares per shareholder, which increased by 4.38% [2]. - Notable shareholders include Hong Kong Central Clearing Limited, which is the fifth-largest shareholder with 4.2254 million shares, and Southern CSI 1000 ETF, which is the seventh-largest with 2.4766 million shares [3].

证券代码：300634 证券简称：彩讯股份 彩讯科技股份有限公司投资者关系活动记录表 编号：2025-IR003 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | □现场参观 其他：（请文字说明其他活动内容） | | | 中信证券股份有限公司、工银瑞信基金管理有限公司、中银基金管理有限公司、 | | | 平安基金管理有限公司、鹏华基金管理有限公司、太平资产管理有限公司、中 | | | 国对外经济贸易信托有限公司、中航信托股份有限公司、陆家嘴国际信托有限 | | | 公司、平安证券股份有限公司、长城证券资产管理有限公司、长江证券（上海） | | | 资产管理有限公司、上海东方证券资产管理有限公司、天风证券股份有限公司 | | | 上海证券自营分公司、天风证券研究所、平安证券研究所、东兴基金管理有限 | | | 公司、华商基金、创金合信基金管理有限公司、永赢基金管理有限公司、新华 | | | 基金、富安达基金管理有限公司、同泰基金管理有限公司、英大保险资产管理 | | | 有限公司、民生 ...

Core Insights - The article highlights the performance and stock selection strategy of Chen Liangdong, a fund manager, showcasing significant returns from various stocks under his management [1][2][4] Fund Performance - The Long城新兴产业混合A fund achieved a cumulative return of 81.71% during Chen Liangdong's tenure, with an average annualized return of 7.91% [1] - The Long城久富LOF fund reported an annualized return of 8.80% and a 2025 Q3 increase of 35.37% [1] Stock Selection and Performance - Notable stocks with high returns during Chen's management include: - Jianlang Hardware: Estimated return of 384.72% with a company performance growth of 86.01% [2][4] - Berteli: Estimated return of 255.67% with a company performance growth of 214.79% [2] - CaiXun Co.: Estimated return of 251.17% with a company performance growth of 24.18% [2] - Conversely, some stocks underperformed, such as: - Zijin Mining: Estimated return of -87.80% despite a company performance growth of 51.76% [3][4] - Hengxuan Technology: Estimated return of -45.73% with a company performance decline of 15.89% [3] Trading Strategy - Chen Liangdong's trading strategy involved frequent adjustments, with a total of 141 adjustments during his tenure, achieving a win rate of 52.48% [1] - The strategy included both successful and unsuccessful trades, with six instances of doubling returns [1][4]

Summary of the Conference Call for CaiXun Co., Ltd. Company Overview - **Company**: CaiXun Co., Ltd. - **Industry**: AI and Technology Solutions Key Financial Metrics - **Revenue**: 1.34 billion CNY for the first three quarters of 2025, a year-on-year increase of 10.8% [2][4] - **Net Profit**: 196 million CNY, a year-on-year increase of 0.6% [2][4] - **Non-recurring Net Profit**: 168 million CNY, a year-on-year decrease of 9.38% [4] - **AI-related Revenue**: 256 million CNY, with computing power revenue at 130 million CNY, accounting for nearly 20% of total revenue [10] Product Lines and Performance 1. **Collaborative Office Products**: - Revenue: 349 million CNY, a year-on-year decrease of 6% [7] - Currently in the R&D investment phase [7] 2. **Smart Channel Products**: - Revenue: 555 million CNY, a year-on-year increase of 15.5% [7] - Services enterprise data operations and management [7] 3. **Intelligent Computing Services and Data Intelligence**: - Revenue: 390 million CNY, a year-on-year increase of 30% [7] - Rapid growth and increasing revenue share [2] AI Innovations and Developments - **AI Applications**: - Launched Hongmeng AI Mailbox and voice intelligence solutions [2][8] - Collaborated with telecom operators to develop a robotic dog app, showcasing leadership in niche markets [2][8] - **AI Voice Business**: - Fastest-growing segment, with expectations to increase revenue tenfold by 2026 [12] - Applications include customer service and marketing solutions [20] Strategic Initiatives - **Acquisitions**: - Acquired a top-tier intelligent computing network technology team to enhance capabilities [9] - **Market Expansion**: - Actively exploring ASIC chips and overseas markets, particularly in Southeast Asia [18] - **Future Outlook**: - Anticipates significant growth in intelligent computing orders, projecting 1 billion CNY by 2026 [17] Financial Health - **Debt Ratio**: Less than 15%, indicating a healthy financial status [6] - **Cash Flow**: Strong operational cash flow with a 500% year-on-year increase in receivables [15] Industry Positioning - **AI as a Core Driver**: - AI technology is seen as a revolutionary force in the tech industry, with significant long-term investment potential [3] - CaiXun aims to leverage its financial stability to invest in AI development [23] Conclusion - CaiXun Co., Ltd. is positioned as a strong player in the AI and technology solutions industry, with a focus on innovative applications and strategic growth initiatives. The company is optimistic about its future performance, particularly in the AI sector, and is committed to enhancing its product offerings and market presence.

Group 1 - The core point of the news is that CaiXun Co., Ltd. (300634.SZ) reported its Q3 2025 results, highlighting a decrease in institutional ownership compared to the previous quarter [1] - As of October 24, 2025, a total of 8 institutional investors hold shares in CaiXun, with a combined holding of 185 million shares, representing 41.07% of the total share capital [1] - The institutional ownership decreased by 1.06 percentage points compared to the previous quarter [1] Group 2 - Among public funds, one fund, the Southern CSI 1000 ETF, reported a slight decrease in holdings compared to the previous quarter [1] - A total of 147 public funds did not disclose their holdings this quarter, including notable funds such as the China Europe Science and Technology Innovation Theme Mixed Fund (LOF) A and the Huaxia CSI 1000 ETF [1] - In terms of foreign investment, one new foreign institution, Hong Kong Central Clearing Limited, disclosed its holdings this quarter [2]

Core Viewpoint - 彩讯股份 reported a year-on-year increase in revenue and net profit for the first three quarters of 2025, indicating stable growth despite a decline in net profit after excluding non-recurring gains and losses [1] Financial Performance - The company's operating revenue for the first three quarters reached 1.341 billion yuan, representing a year-on-year growth of 10.81% [1] - The net profit attributable to shareholders of the listed company was 196 million yuan, showing a year-on-year increase of 0.61% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 168 million yuan, reflecting a year-on-year decrease of 9.38% [1] - Basic earnings per share stood at 0.44 yuan [1]

Group 1 - The core point of the article is that CaiXun Co., Ltd. announced the convening of its fourth board meeting on October 24, 2025, to discuss the appointment of a securities affairs representative [1] - For the first half of 2025, CaiXun's revenue composition is as follows: telecommunications accounted for 68.12%, software and information technology services for 12.15%, energy for 9.79%, and other businesses for 3.74% and 3.56% respectively [1] - As of the report, CaiXun's market capitalization is 11.5 billion yuan [1] Group 2 - The article highlights that China's innovative pharmaceuticals have sold overseas licenses worth 80 billion USD this year [1] - There is a discussion on the hot secondary market for biomedicine, while the primary market is experiencing a fundraising slowdown [1]