Core Viewpoint - Guanghe Tong (00638) reported a decline in both revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was approximately 5.366 billion yuan, representing a year-on-year decrease of 13.69% [1] - The net profit attributable to shareholders was around 316 million yuan, showing a significant year-on-year decline of 51.5% [1] - Basic earnings per share stood at 0.4149 yuan [1]

本公司及监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。 深圳市广和通无线股份有限公司（以下简称"公司"）第四届监事会第十七 次会议，于 2025 年 10 月 25 日发出会议通知，2025 年 10 月 29 日以现场会议方 式召开。本次会议应参与监事 3 名，实际参与监事 3 名。监事会主席陈绮华女士 主持本次会议，监事会会议的举行和召开符合国家有关法律、法规及《公司章程》 的规定。经充分讨论和审议，会议形成决议如下： 一、审议通过了关于《公司 2025 年第三季度报告》的议案 证券代码：300638 证券简称：广和通 公告编号：2025-074 深圳市广和通无线股份有限公司 第四届监事会第十七次会议决议公告 1、深圳市广和通无线股份有限公司第四届监事会第十七次会议决议 特此公告。 深圳市广和通无线股份有限公司 监事会 二О二五年十月二十九日 经审议，监事会认为：《公司 2025 年第三季度报告》的编制和审议程序符合 法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司 的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见同日刊 ...

经审议，董事会认为：《公司 2025 年第三季度报告》的编制和审议程序符 合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公 司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 详 见 同 日 刊 登 于 中 国 证 监 会 指 定 创 业 板 信 息 披 露 网 站 巨 潮 资 讯 网 （http://www.cninfo.com.cn）的相关公告。 本议案已经董事会审计委员会审议通过。 表决结果：6 票同意、0 票反对、0 票弃权，审议通过本项议案。 证券代码：300638 证券简称：广和通 公告编号：2025-073 深圳市广和通无线股份有限公司 第四届董事会第十八次会议决议公告 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。 深圳市广和通无线股份有限公司（以下简称"公司"）第四届董事会第十八次 会议，于 2025 年 10 月 25 日发出会议通知，2025 年 10 月 29 日以现场结合通讯 会议方式召开。本次会议应参与董事 6 名，实际参与董事 6 名，董事许宁先生、 王宁先生以通讯方式出席会议。公司全体监事、高级管理 ...

Financial Performance - The company's revenue for Q3 2025 was ¥1,658,702,272.49, a decrease of 22.56% compared to the same period last year[5] - Net profit attributable to shareholders was ¥98,284,224.12, down 69.14% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥94,688,771.26, a decline of 29.31% compared to the previous year[5] - Year-to-date revenue reached ¥5,365,678,789.76, reflecting a 13.69% decrease year-on-year; excluding the impact of the wireless communication module business, revenue from continuing operations increased by 7.32%[5] - The basic earnings per share for Q3 was ¥0.1292, down 69.05% year-on-year[5] - Total operating revenue decreased to ¥5,365,678,789.76 from ¥6,216,604,579.49, representing a decline of approximately 13.7% year-over-year[27] - Net profit for the period was ¥315,278,337.83, down from ¥656,632,738.94, indicating a decline of approximately 52% year-over-year[28] - The company's equity attributable to shareholders increased to ¥3,671,014,958.91 from ¥3,604,335,176.04, reflecting an increase of about 1.8%[25] - The net profit attributable to the parent company's shareholders decreased to ¥316.19 million from ¥651.93 million, representing a decline of approximately 51.6% year-over-year[29] - The total comprehensive income amounted to ¥314.96 million, down from ¥676.74 million, indicating a decrease of about 53.5% compared to the previous period[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,436,499,571.20, a decrease of 1.49% from the end of the previous year[5] - Total assets decreased to ¥7,436,499,571.20 from ¥7,549,055,309.29, a decline of about 1.5%[25] - Total liabilities decreased to ¥3,757,766,461.41 from ¥3,936,094,418.37, a reduction of approximately 4.5%[25] Cash Flow - Cash flow from operating activities for the year-to-date was ¥297,597,559.91, an increase of 51.24%[5] - The net cash flow from operating activities for the first nine months of 2025 was ¥297,597,559.91, representing a 51.24% increase compared to ¥196,767,103.64 in the same period of 2024, primarily due to a reduction in cash paid to employees[13] - The net cash flow from investing activities improved to -¥93,561,756.11 in 2025 from -¥157,099,544.14 in 2024, marking a 40.44% improvement due to increased cash recovered from maturing financial products[13] - Operating cash flow generated from activities increased to ¥6.25 billion from ¥6.03 billion, reflecting a growth of approximately 3.6% year-over-year[31] - The net cash flow from operating activities improved to ¥297.60 million, up from ¥196.77 million, marking an increase of about 51.2%[31] - The net cash flow from financing activities was -¥145.80 million, slightly better than -¥152.59 million in the previous period[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 79,494, with the largest shareholder, Zhang Tianyu, holding 36.78% of the shares[15] - Zhang Tianyu's shareholding amounts to 281,512,495 shares, of which 211,134,371 shares are pledged[15] - The total number of restricted shares at the beginning of the period was 233,119,576, with 592,584 shares released from restrictions during the period[19] - The company has not reported any changes in the number of preferred shareholders or their holdings[17] - The shareholder structure indicates a concentration of ownership, with the top ten shareholders holding significant stakes, which may influence corporate governance and strategic decisions[15] Research and Development - Research and development expenses for the first nine months of 2025 were ¥359,126,774.13, a decrease of 31.20% compared to the same period in 2024[12] - Research and development expenses were ¥359,126,774.13, down from ¥521,967,258.92, reflecting a decrease of about 31.1% year-over-year[28] Market Expansion - The company plans to issue H shares and apply for listing on the Hong Kong Stock Exchange, with 135,080,200 H shares listed on October 22, 2025[20] - The company’s market expansion efforts include the issuance of H shares, which is expected to enhance its capital base and market presence[20] Financial Expenses - The company reported a significant reduction in financial expenses, down 69.78% to ¥8,523,327.14, primarily due to increased exchange gains[12] - The company reported a significant decrease in financial expenses, which fell to ¥8,523,327.14 from ¥28,208,761.15, a reduction of approximately 69.8% year-over-year[28]

Core Points - Zhejiang Nocont Communication Technology Co., Ltd. has changed its registration status from active to canceled [1] - The company had previously issued a simplified cancellation announcement [1] Company Overview - Zhejiang Nocont Communication Technology Co., Ltd. was established in November 2010 [1] - The legal representative of the company is Ying Lingpeng [1] - The registered capital of the company is 10 million RMB [1] - The business scope includes wholesale and retail of communication electronic products [1] - The company is wholly owned by Guanghetong (300638) [1]

Core Insights - Guanghetong has formed a strategic partnership with leading AR glasses technology company XREAL to advance the consumer-grade AI glasses industry into a new era [1] Group 1 - The collaboration aims to leverage both companies' technological strengths and manufacturing capabilities [1] - The focus will be on accelerating innovation breakthroughs and large-scale implementation in the AR+AI consumer ecosystem [1]

Core Insights - The stock transfer of Guanghe Tong (300638) from HSBC to CITIC Securities on October 24 involved a market value of HKD 229 million, representing 9.62% of the total shares [1] Company Overview - Guanghe Tong is the second largest wireless communication module provider globally, with a market share of 15.4% based on revenue from ongoing operations in 2024 [1] - The company leads in several downstream application scenarios, particularly in smart home and consumer electronics, where it holds the highest global market share [1] - In the consumer electronics sector, the market share reaches 75.9%, while in the automotive electronics sector, the company ranks second globally, driven by the demand for high-reliability modules in the new energy vehicle market [1]

Core Viewpoint - The recent transfer of shares in Guanghe Tong (00638) indicates significant market activity, with a total value of HKD 229 million being moved, representing 9.62% of the company's shares [1] Company Summary - Guanghe Tong is recognized as the second-largest wireless communication module provider globally, holding a market share of 15.4% based on revenue from ongoing operations in 2024 [1] - The company leads in several downstream application scenarios within the global wireless communication module market, particularly in smart home and consumer electronics, where it holds the top market share [1] - In the consumer electronics sector, Guanghe Tong's market share reaches an impressive 75.9%, while it ranks second globally in the automotive electronics sector, driven by the rising demand for high-reliability modules in the new energy vehicle market [1]

Core Insights - Shenzhen Guanghetong Wireless Co., Ltd. successfully listed on the Hong Kong Stock Exchange, marking a significant milestone for A+H share enterprises [1][3] - Guanghetong is a leading player in the global communication module industry, with a market share ranking second globally and first in several verticals [3] Group 1 - Guanghetong's products are widely used in emerging fields such as automotive electronics and smart home applications, serving major clients like BYD, Lenovo, and HP [3] - The investment by Jiangxi Ganxiang Industrial Investment Group represents its first participation in an overseas direct investment (ODI) project [3] - The successful listing was facilitated by the "private placement investment" model and the strategic location advantages of Shangli as a core cooperation node in the Ganxiang region [3] Group 2 - Guanghetong plans to invest in the Jiangxi Guanghetong IoT Communication Industrial Park project in Shangli, gradually transferring its high-end product lines to the area [5] - The annual procurement demand for high-end PCB products by Guanghetong is approximately 200 million yuan, which will synergize with existing listed companies in Shangli, such as Jiahe Intelligent and Guoguang Electric [5] - This initiative aims to create a "three-engine" model for industrial transformation and upgrading in Shangli, attracting more upstream and downstream supporting enterprises and enhancing the competitiveness of the PCB industry cluster [5]

Core Insights - Guanghetong officially listed on the Hong Kong Stock Exchange on October 22, 2025, becoming the first wireless communication module company in China to achieve "A+H" listing [1][3] - The listing is viewed as a new starting point for the company, which aims to deepen technological innovation and strengthen its leading position in module business [3] Company Strategy - The company plans to leverage the listing as an opportunity to enhance its investment in edge AI solutions and robotics, while expanding its global footprint [3] - Guanghetong is committed to integrating AI into various scenarios and smart devices, transitioning from "connecting everything" to "intelligently connecting everything" [3] Market Position - The listing marks a significant milestone for Guanghetong, allowing it to target a broader market and increase its global market share [3] - The company focuses on innovation in three key areas: communication, AI, and vehicle networking, aiming to introduce more products and solutions that meet industry demands [3]