Group 1 - The core point of the article is that Ye Zhibin, a shareholder of Guanghe Tong, plans to reduce her holdings by up to 830,000 shares, which is approximately 0.09% of the company's total share capital after excluding shares in the repurchase account [1] - Guanghe Tong's revenue composition for the year 2024 is heavily weighted towards IOT wireless communication applications, accounting for 99.67% of total revenue, with other sources contributing only 0.33% [1] - As of the report's publication, Guanghe Tong has a market capitalization of 24.7 billion yuan [1]

智通财经APP讯，广和通(00638)发布公告，持有深圳市广和通无线股份有限公司(以下简称"公司")股份 330.38万股(占剔除回购专用账户股份后公司目前总股本的0.37%)的股东叶志斌女士，计划在本公告披露 之日起十五个交易日后的三个月内，以集中竞价、大宗交易等深圳证券交易所认可的合法方式减持公司 股份合计不超过82.6万股，即不超过剔除回购专用账户股份后公司目前总股本的0.09%。 ...

Core Viewpoint - Guanghe Tong (300638) announced that shareholder Ms. Ye Zhibin, holding 3.3038 million shares (0.37% of the total share capital after excluding repurchased shares), plans to reduce her holdings by up to 826,000 shares (0.09% of the total share capital after excluding repurchased shares) within three months starting from fifteen trading days after the announcement [1] Summary by Category - Shareholder Information - Ms. Ye Zhibin holds 3.3038 million shares of Guanghe Tong, representing 0.37% of the total share capital after excluding repurchased shares [1] - Reduction Plan - The planned reduction will not exceed 826,000 shares, which is 0.09% of the total share capital after excluding repurchased shares [1] - Timeline - The reduction is set to occur within three months starting from fifteen trading days after the announcement date [1]

Group 1 - The core point of the announcement is that shareholder Ye Zhibin holds 3.3038 million shares of the company, accounting for 0.37% of the total share capital after excluding shares in the repurchase special account [1] - Ye Zhibin plans to reduce his holdings by no more than 826,000 shares, which represents up to 0.09% of the total share capital after excluding shares in the repurchase special account, due to personal funding needs [1]

证券代码：300638 证券简称：广和通 公告编号：2025-089 深圳市广和通无线股份有限公司 关于公司股东减持股份的预披露公告 公司股东叶志斌女士向本公司保证提供的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 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。 特别提示： 叶志斌女士持有公司股份 3,303,822 股，占剔除回购专用账户股份后公司现 有总股本的 0.37%。 持有深圳市广和通无线股份有限公司（以下简称"公司"）股份 3,303,822 股 （占剔除回购专用账户股份后公司目前总股本的 0.37%）的股东叶志斌女士，计 划在本公告披露之日起十五个交易日后的三个月内，以集中竞价、大宗交易等深 圳证券交易所认可的合法方式减持公司股份合计不超过 825,955 股，即不超过剔 除回购专用账户股份后公司目前总股本的 0.09%。 近日，公司收到公司股东叶志斌女士的股份减持计划通知，现将有关情况公 告如下： 一、计划减持股东的基本情况 | 股东名称 | 股东情况 | 持股数量（股） | 占剔除回购专用账户股份 后公司现有总股本的比例 | | --- | --- | - ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘您好，商业航天对卫星通信模组的极端环境适应 性（如超低温、高真空、强辐射）和低功耗（如卫星长期在轨运行）要求极高。请问公司在卫星通信模 组的研发投入上有哪些进展？比如，是否针对商业航天场景优化了模组的耐高温/低温性能、抗辐射能 力或低功耗模式？未来是否会加大对商业航天级卫星模组的研发投入？ 广和通（300638.SZ）12月12日在投资者互动平台表示，公司有支持卫星通信的无线通信模组产品，目 前主要用于卫星物联网领域，具体产品及研发信息请关注公司定期报告、投资者关系活动记录表等公 告。 ...

财报显示，2025年前三季度，广和通实现营业收入53.66亿元，同比下降13.69%；归母净利润3.16亿 元，同比下降51.50%。 香港联交所最新资料显示，12月10日，广和通（300638）(00638)股东将股票由中信证券经纪香港转入 香港上海汇丰银行，转仓市值1.38亿港元，占比5.97%。 ...

Core Viewpoint - Guanghe Tong's (300638) debut on the Hong Kong Stock Exchange on October 22, 2025, marked a significant downturn with a 11.72% drop, breaking a streak of 16 consecutive new listings that opened higher. Despite this volatility, southbound capital has steadily increased its holdings, reaching 8.3% by December 8, indicating potential bullish sentiment for the stock moving forward [1][9]. Group 1: Initial Market Reaction - The initial drop on the first trading day was foreshadowed by a decline in the dark market prior to the listing, where the stock fell 0.93% despite a peak increase of 16.3% [2]. - The adoption of the "Mechanism B" issuance method has reshaped the IPO landscape in Hong Kong, resulting in a significant reduction in the proportion of new stocks that experience a drop on their debut [2][3]. - On the first trading day, Guanghe Tong's turnover rate was 41.29%, indicating that over 40% of investors chose to sell, resulting in a total sell-off amounting to 307 million HKD [3]. Group 2: Price Stabilization and Recovery Efforts - Following two days of rapid decline, Guanghe Tong entered a "stabilization" phase on the third trading day, aided by the main underwriter, Citic Securities, which began repurchasing shares [4]. - During the stabilization phase, the stock price peaked at 20.66 HKD, nearing the issue price of 21.5 HKD, reflecting a nearly 17% increase from the second trading day's closing price [6]. - After the stabilization period ended on November 16, the stock entered a "correction" phase, with a cumulative decline of nearly 30% over the next seven trading days [7]. Group 3: Southbound Capital Accumulation - Southbound capital has been a consistent factor in Guanghe Tong's stock performance, with holdings increasing significantly after the stock was included in the Hong Kong Stock Connect on November 17 [11]. - By December 4, southbound capital held 12.44 million shares, representing 9.2% of the total, and despite some profit-taking in subsequent days, holdings remained substantial at 8.38% by December 9 [13]. - The rapid accumulation of southbound capital during the stock's decline suggests a strategic positioning for future price recovery, as the stock remains undervalued compared to its A-share counterpart, with a discount of 41.9% [14].

Core Viewpoint - Guanghe Tong (00638) experienced a significant drop of 11.72% on its first trading day, breaking the record of 16 consecutive new stocks in Hong Kong that had risen on their debut, indicating a volatile market response despite increasing southbound capital holdings [1] Group 1: Initial Trading Performance - The stock price of Guanghe Tong fell below its issue price during the dark trading phase prior to its official listing, signaling potential investor concerns [2] - On its first trading day, Guanghe Tong had a turnover rate of 41.29%, with over 40% of investors choosing to sell, resulting in a total sell-off amounting to 307 million HKD [3] - The stock continued to decline by 6.95% on the second trading day, but the turnover rate decreased to 9.99%, indicating a reduction in panic selling [3] Group 2: Market Dynamics and Support - After two days of rapid decline, Guanghe Tong entered a "support" phase, aided by the main underwriter, CITIC Securities, which began repurchasing shares [4] - During this support phase, the stock price rose by 10.25% on the third trading day, reflecting some investor confidence returning [4][6] - The stock price reached a high of 20.66 HKD during this phase, nearing its issue price of 21.5 HKD, but subsequently entered a "correction" phase after the stabilization period ended [6] Group 3: Southbound Capital Involvement - Southbound capital, referred to as "mysterious funds," has been steadily increasing its holdings in Guanghe Tong, reaching 8.3% by December 8 [1][11] - By December 4, southbound capital held 1244.72 million shares, indicating a strong accumulation strategy during the stock's downturn [11] - The rapid increase in southbound capital holdings suggests a strategic positioning for potential future price recovery, as the stock remains undervalued compared to its A-share counterpart [13][14]

Core Viewpoint - Guanghe Tong's main business shows steady growth, with AI edge computing and robotics poised for development [1] Revenue Structure - Smart modules accounted for over 55% of the company's revenue by the first half of 2025 [1] - Compared to traditional cellular communication modules, smart modules include built-in main control chips and storage, supporting operating systems like Android and Linux, and offering real-time data processing and rich interface capabilities [1] - Applications have been realized in areas such as the Internet of Vehicles and consumer electronics [1] Product Development - The "AI Stack + Robotics" dual-driven strategy has entered the productization and delivery phase [1] - Future business growth potential is significant for AI smart lawnmower solutions and the embodied intelligent robot development platform Fibot [1] Financial Projections - Net profit estimates for 2025-2027 are projected at 452 million yuan, 637 million yuan, and 876 million yuan, respectively [1] - The previous profit forecasts for 2025-2026 were 611 million yuan and 764 million yuan [1] - Earnings per share (EPS) are expected to be 0.50 yuan, 0.71 yuan, and 0.97 yuan for the respective years [1] - The company maintains a "buy" rating [1]