Core Viewpoint - Guanghe Tong (00638) experienced a decline of over 6%, with a current price of HKD 18.7 and a trading volume of HKD 10.74 million, following announcements regarding changes to its stock eligibility for the Hong Kong Stock Connect program [1] Financial Performance - For the first three quarters, Guanghe Tong reported revenue of approximately CNY 5.366 billion, a year-on-year decrease of 13.69%, and a net profit attributable to shareholders of approximately CNY 316 million, down 51.5% [1] - In the third quarter alone, the company achieved revenue of CNY 1.659 billion, reflecting a year-on-year decline of 22.56%, with a net profit of CNY 98.2842 million, a decrease of 69.14% [1] - Excluding the business of Ruiling Wireless, the company's revenue for the first three quarters showed a year-on-year growth of 7.32%, while the net profit attributable to shareholders decreased by 2.19% [1]

Group 1 - The core point of the article is the adjustment of the Hong Kong Stock Connect list, with Guanghe Tong (00638) being added to the list effective from November 17, 2025, following the end of its price stabilization period in the Hong Kong market and after being listed on the A-share market for 10 trading days [1][3]. Group 2 - The adjustment direction for Guanghe Tong is an inclusion in the Hong Kong Stock Connect list [3].

11月17日，深交所公告，因广和通（00638）在香港市场价格稳定期结束且相应A股上市满10个交易 日，根据《深圳证券交易所深港通业务实施办法》的有关规定，港股通标的证券名单发生调整并自2025 年11月17日起生效，调入广和通。 ...

Core Points - The Hong Kong Stock Connect eligible securities list has been adjusted, with Guanghe Tong being added to the list effective from November 17, 2025 [1] Group 1 - The adjustment of the eligible securities list is a significant development for investors in the Hong Kong market [1]

深交所：港股通标的证券名单调整，调入广和通（00638），11月17日起生效。 ...

证券代码：300638 证券简称：广和通 公告编号：2025-076 深圳市广和通无线股份有限公司 关于稳定价格行动、稳定价格期结束及超额配股权失效的公告 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。 经香港联合交易所有限公司（以下简称"香港联交所"）批准，深圳市广和 通无线股份有限公司（以下简称"公司"、"本公司"）发行的 135,080,200 股 H 股股票（行使超额配股权之前）已于 2025 年 10 月 22 日在香港联交所主板挂 牌并上市交易。公司 H 股股票中文简称"廣和通"，英文简称"FIBOCOM"， 股票代码"0638"。具体详见公司在巨潮资讯网披露的相关公告。 一、稳定价格行动及稳定价格期结束 | 股东类别 | 持股数量（股） | 持股比例 | | --- | --- | --- | | 股 A | 765,453,542 | 85.00% | | 股 H | 135,080,200 | 15.00% | | 合计 | 900,533,742 | 100.00% | 本次超额配股权失效前后的股份无变动，具体如下： 三、公众持股量 紧随稳 ...

广和通（300638）(00638)发布公告，根据香港法例第571W章证券及期货(稳定价格)规则第9(2)条，本公 司宣布，有关全球发售的稳定价格期于2025年11月16日(星期日)(即递交香港公开发售申请截止日期后第 30日)结束。 稳定价格操作人、其联属人士或代其行事的任何人士于稳定价格期内进行的稳定价格行动载列如下： (1)在国际发售中超额分配合共2026.2万股H股，约占任何超额配股权获行使前全球发售项下初步提呈发 售的发售股份总数的15%; (2)于稳定价格期间先后在市场上以介乎每股H股17.30港元至21.50港元的价格购买合共2026.2万股H股 (约占任何超额配股权获行使前全球发售项下初步可供认购的发售股份总数的15%)。稳定价格操作人、 其联属人士或代其行事的任何人士于稳定价格期内在市场上作出的最后一次购买于2025年11月14日(星 期五)进行，价格为每股H股20.34港元。 保荐人兼整体协调人(代表国际承销商)于稳定价格期内并无行使超额配股权，且超额配股权于2025年11 月16日(星期日)失效。因此，并无或不会根据超额配股权发行H股。 ...

Core Viewpoint - The company, Guanghe Tong (00638), announced the end of its stabilization period for global offerings on November 16, 2025, in accordance with Hong Kong laws [1] Summary by Relevant Sections - **Stabilization Actions** - During the stabilization period, a total of 20.262 million H-shares were over-allocated in the international offering, representing approximately 15% of the total shares initially offered before the exercise of any over-allotment options [1] - The stabilization operator purchased a total of 20.262 million H-shares in the market at prices ranging from HKD 17.30 to HKD 21.50 per share, also accounting for about 15% of the total shares initially available for subscription before the exercise of any over-allotment options [1] - The last purchase made by the stabilization operator during this period occurred on November 14, 2025, at a price of HKD 20.34 per share [1] - **Over-allotment Options** - The sponsor and overall coordinator did not exercise the over-allotment option during the stabilization period, and this option will expire on November 16, 2025 [1] - As a result, no H-shares will be issued or are expected to be issued under the over-allotment option [1]

Core Viewpoint - Guanghe Tong (00638.HK) announced the end of the stabilization period for its global offering on November 16, 2025, with no exercise of the over-allotment option by the underwriters during this period [1] Summary by Relevant Sections - **Stabilization Period**: The stabilization period for the global offering will conclude on November 16, 2025, which is 30 days after the deadline for submitting applications for the Hong Kong public offering [1] - **Over-allotment Option**: The underwriters did not exercise the over-allotment option during the stabilization period, and this option will expire on November 16, 2025 [1] - **H Shares Issuance**: As a result of the above, there will be no issuance of H shares based on the over-allotment option [1]

Group 1 - The core viewpoint of the news highlights the recent stock performance and financial metrics of Guanghetong, indicating a decline in stock price and significant net outflow of funds [1][2] - As of November 14, Guanghetong's stock price decreased by 2.03% to 25.58 CNY per share, with a total market capitalization of 23.036 billion CNY [1] - Year-to-date, Guanghetong's stock has increased by 29.19%, but it has seen a decline of 0.93% over the last five trading days and 9.45% over the last 20 days [1] Group 2 - Guanghetong, established on November 11, 1999, specializes in wireless communication modules and related solutions, with 99.38% of its revenue coming from this segment [2] - The company operates within the communication equipment sector and is involved in various concepts such as vehicle networking, eSIM, and low-altitude economy [2] - For the period from January to September 2025, Guanghetong reported a revenue of 5.366 billion CNY, a year-on-year decrease of 13.69%, and a net profit of 316 million CNY, down 51.50% year-on-year [2] Group 3 - Since its A-share listing, Guanghetong has distributed a total of 869 million CNY in dividends, with 620 million CNY distributed over the past three years [3] - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 1.553 million shares [3] - The Southern CSI 1000 ETF reduced its holdings by 50,000 shares, while the Huaxia CSI 1000 ETF has exited the top ten circulating shareholders list [3]