Core Insights - The company is focusing on server liquid cooling as an important expansion direction for its new business [1] - Since the beginning of the year, the company has been increasing resource investment in product research and development, customer development, and capacity construction in the liquid cooling field [1] - Currently, the customer introduction, product certification, and mass production supply work for liquid cooling modules and core materials are accelerating [1]

Core Viewpoint - The company's quarterly performance fluctuations are primarily influenced by changes in market demand within the consumer electronics industry, the product launch cycles of major clients, and the ramp-up progress of new products [1] Group 1: Business Performance - The company has seen rapid revenue growth in its server cooling products, including core components of thermal modules and TIM materials, due to bulk supply to server manufacturers [1] - The company is actively promoting the customer introduction, product certification, and mass production supply of liquid cooling thermal modules [1] Group 2: Production Capacity and Investment - The company is gradually increasing investment in the production capacity of thermal modules at its Yixing production base to meet customer order demands [1] - Current production capacity is sufficient to satisfy customer orders [1] Group 3: Future Strategies - The company plans to expand its business scale by increasing core product research and development, expanding new customer acquisition, optimizing production processes, and enhancing capacity utilization [1]

Core Viewpoint - The company is experiencing accelerated market application of its VC module products in high-speed optical modules, supported by technological upgrades in heat dissipation solutions [1] Group 1 - The company has received product certification and is in mass production with leading domestic and international optical communication enterprises [1]

Core Viewpoint - The company has accelerated the market application of its VC module products in high-speed optical modules, having received product certification and commenced mass production with leading optical communication enterprises both domestically and internationally [1] Group 1 - The company confirmed that its VC module products are now in mass production for high-speed optical modules [1] - The technological iteration of optical modules has led to an upgrade in cooling solutions, facilitating the market application of the company's products [1] - The company has achieved product certification from top optical communication companies, indicating strong market acceptance [1]

Company Overview - Zhongshi Technology (SZ 300684) announced that it will accept investor research on November 4, 2025, with participation from the company’s board secretary Zhang Weina and securities affairs representative Qi Rui [1] - As of the report, Zhongshi Technology has a market capitalization of 13.3 billion yuan [1] Revenue Composition - For the year 2024, Zhongshi Technology's revenue composition is as follows: 98.23% from the manufacturing of electronic components and electronic special materials, and 1.77% from other businesses [1]

Company Overview - The company is a global leader in functional polymer materials and thermal management solutions, focusing on core materials and components to meet high-growth industry demands [2][3] - It emphasizes technology research and development, with a strong capacity for large-scale delivery of comprehensive reliability solutions for electronic devices [2][3] Product and Market Focus - Main products include high thermal conductivity graphite products, thermal interface materials, heat pipes, and EMI shielding materials, widely used in consumer electronics, digital infrastructure, smart transportation, and clean energy sectors [3] - The company has established production bases in Wuxi, Yixing, and Thailand, and R&D centers in Beijing, Shanghai, and the USA, catering to global clients [3] Financial Performance - In the first three quarters of 2025, the company achieved revenue of CNY 1.298 billion, a year-on-year increase of 18.45% [4] - Net profit attributable to shareholders reached CNY 252 million, up 90.59%, with a non-recurring net profit of CNY 236 million, reflecting a growth of 142.37% [4] Profitability and Efficiency - The gross profit margin for the first three quarters of 2025 was 33.92%, an increase of 3.16 percentage points year-on-year, driven by product structure optimization and increased core product sales [5] - The company is focusing on high-quality growth sectors and implementing lean production and process improvements to enhance efficiency [5] Capacity and Production - Current capacity utilization is high, with new production lines focusing on high thermal conductivity graphite products and thermal interface materials for emerging consumer electronics and digital infrastructure [6] - The company maintains a leading position in synthetic graphite materials within the consumer electronics sector, expanding applications from smartphones to tablets and laptops [7] Innovation and Development - The company has developed foldable flexible graphite components for foldable smartphones, achieving global patent certification [8] - It is accelerating the market application of VC modules in high-speed optical modules, having gained product certification from leading optical communication companies [9] New Business Ventures - Liquid cooling solutions for servers represent a significant new business direction, with ongoing investments in product development and customer acquisition [10] - The company has established an overseas production base in Thailand, which is operational and has completed certification for major clients [12] Future Growth Potential - The demand for thermal materials is expected to increase with the development of AI terminals, alongside new project launches and market share growth [12] - The company is actively pursuing new thermal solutions and core materials for computing equipment, aiming to create new growth curves in the optical module and server sectors [12]

Core Viewpoint - The company, Zhongshi Technology, has announced an adjustment to its share repurchase plan, increasing the maximum repurchase price from 29.35 yuan per share to 65.00 yuan per share, effective from November 7, 2025 [1] Summary by Category - **Company Announcement** - Zhongshi Technology has released a notice regarding the adjustment of its share repurchase price [1] - The new maximum repurchase price is set at 65.00 yuan per share, significantly higher than the previous limit [1] - The adjustment is aimed at ensuring the smooth implementation of the share repurchase plan [1]

Core Viewpoint - The company has announced an adjustment to the maximum repurchase price for its shares, increasing it significantly from 29.35 CNY per share to 65.00 CNY per share, effective from November 7, 2025 [1] Summary by Relevant Sections - **Share Repurchase Adjustment** - The board and supervisory committee of the company have approved a proposal to adjust the maximum repurchase price for shares [1] - The new maximum repurchase price is set at 65.00 CNY per share, which represents a substantial increase from the previous limit of 29.35 CNY per share [1] - The effective date for this adjustment is November 7, 2025 [1]

中石科技（300684）(300684.SZ)公告，公司董事会、监事会审议通过了《关于调整回购股份价格上限 的议案》，本次回购股份价格上限由29.35元/股(含)调整为65.00元/股(含)，回购股份价格上限调整的生 效日期为2025年11月7日。 ...

一、董事会会议召开情况 证券代码：300684 证券简称：中石科技 公告编号：2025-069 北京中石伟业科技股份有限公司 第五届董事会第八次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 表决结果：同意 9 票、反对 0 票、弃权 0 票，审议通过。 三、备查文件 1、北京中石伟业科技股份有限公司（以下简称"公司"）第五届董事会第八 次会议通知于 2025 年 11 月 5 日以电子邮件、即时通讯等方式向全体董事送达， 经全体董事一致同意，本次会议豁免临时董事会提前通知时限的要求，并于 2025 年11月6日在北京中石伟业科技股份有限公司会议室以现场结合通讯方式召开。 2、本次会议应出席董事 9 人，实际出席董事 9 人。 3、会议由董事长吴晓宁先生主持，公司全体监事及高级管理人员列席了本 次会议。 4、本次会议的召集、召开和表决程序符合《公司法》等有关法律、法规及 《北京中石伟业科技股份有限公司章程》的有关规定，合法有效。 二、董事会会议审议情况 1、审议并通过了《关于调整回购股份价格上限的议案》 经审议，董事会一致认为：基于对公司长期价值 ...