Group 1 - The company, Dongguan Yutong Optical Technology Co., Ltd., announced that a significant shareholder, Mr. Zhang Pingguang, and his concerted action person, Mr. Zhang Pingzhang, have partially lifted the pledge on their shares [1] - The announcement includes details about the basic situation of the share pledge and the lifting of the pledge, indicating that there are no major asset restructuring or performance compensation obligations associated with this pledge [1] - As of the announcement date, the pledged shares held by the shareholders and their concerted action persons are under control, with no risk of forced liquidation, and the pledge risk is manageable [1] Group 2 - The company will continue to monitor the pledge and risk situation, ensuring compliance with relevant regulations and timely information disclosure [1] - The announcement was made by the board of directors of Dongguan Yutong Optical Technology Co., Ltd. on January 15, 2026 [2]

Group 1 - The announcement from Yutong Optical indicates that Zhang Pingguang has pledged a total of 14.6 million shares, which accounts for 35.46% of his holdings [1] - Zhang Pinzhang has pledged 3.15 million shares, representing 72.21% of his total shares [1] Group 2 - A new "affordable version" of the Tesla Model 3 may enter the Chinese market, with a range of 480 kilometers [1] - Significant adjustments are occurring in the U.S. market regarding autonomous driving technology [1]

1、解除质押基本情况 2、股份质押基本情况 | | 是否为控股 | 本次质 | 占其所 | 占公司 | | 是否 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 名称 | 股东或第一 大股东及其 | 押数量 | 持股份 比例 | 总股本 比例 | 是否为 限售股 | 为补 充质 | 质押起始 日 | 质押到期 日 | 质权人 | 质押用 途 | | | 一致行动人 | （股） | （%） | （%） | | 押 | | | | | | 张品 | 是 | 1,200,000 | 27.51 | 0.32 | 否 | 否 | 2026 年 1 | 办理解除 质押登记 | 上饶农村 商业银行 | 偿还债 务 | | 章 | | | | | | | 月 6 日 | 之日 | 股份有限 公司 | | | | | | | | | | 2026 年 1 | 办理解除 | 上饶农村 商业银行 | 偿还债 | | 张品 章 | 是 | 350,000 | 8.02 | 0.09 | 否 | 否 | | 质押登记 ...

Summary of Key Points from the Conference Call Industry Overview: Edge AI Market - **Increased Attention on Edge AI**: Since Apple introduced the Apple Intelligence project in 2024, the market's focus on edge AI has been rising, with advancements in large models and computing power laying the groundwork for AI applications by 2026 [1][2]. - **Maturity of AI Hardware**: Edge AI hardware forms, such as AI glasses and toys, have matured, with wearable devices increasingly capturing consumer interest. At CES 2026, AI interaction features became standard in consumer electronics and home products [1][2]. - **Policy Support**: National subsidy policies now include wearable devices like smartwatches, expected to drive growth by approximately 20% year-on-year. The inclusion of Rokid glasses in a procurement project for the disabled indicates demand stimulation through targeted promotions [1][4]. Key Drivers of Investment Opportunities - **Computing Power Upgrades**: The maturity of technology and models, alongside a competitive arms race in computing facilities, is making conditions for AI application deployment more favorable by 2026 [2]. - **Hardware Iteration**: The current maturity of edge AI hardware, particularly in wearables, is seen as a catalyst for growth. Despite skepticism about blockbuster products in 2025, devices like Rokid AI glasses are gaining traction among consumers [2]. - **Resilience of Edge AI**: In the face of rising storage costs, wearable devices are less affected compared to traditional consumer electronics, which are more vulnerable to cyclical fluctuations. The edge AI market remains in a high-growth phase with significant supply chain premium potential [1][4]. Product Launch and Shipment Forecasts - **AI Glasses Shipment Projections**: Meta anticipates shipping between 20 to 25 million units of AI glasses by 2027, while other brands like Thunder and Roku expect shipments of 300,000 to 500,000 units. Total shipments across all brands are projected to approach 3 million units by 2027, representing significant growth compared to 2025 [3][7]. - **Product Release Schedule**: Meta plans to launch three new products in 2026 and a new brand of AI glasses in 2027. Samsung and Huawei are expected to release new products by the end of Q1 or early Q2 2026, while Xiaomi may iterate its first-generation product this year [5][6]. Investment Recommendations - **Top Investment Picks**: GoerTek is highlighted as a leading company in the AI glasses market, expected to benefit significantly from market growth. Other recommended companies include Luxshare Precision, Lianyi Manufacturing, Lens Technology, Yutong Optical, Changying Precision, and Longqi Technology, all of which have promising market prospects [8]. SOC Sector Insights - **Investment Value of SOC Sector**: The SOC sector is viewed as having high potential due to the anticipated shift from cloud to edge computing over the next two to three years. SOC components represent the highest cost proportion in edge devices, with Chinese A-share SOC companies showing strong market share potential [9]. - **Volume-Price Dynamics**: The SOC sector is driven by new product cycles and flagship product releases, which are expected to enhance average selling prices (ASP). For instance, AI-enabled chips are projected to increase in price from $2 to $4 [10][11]. - **Inventory Adjustments**: Following a chip shortage in late 2021, inventory levels have normalized by early 2024, positively impacting earnings per share (EPS) for companies like Rockchip and Hengxuan, which saw stock prices rise by 30-40% during high inventory periods [12]. Future Outlook for SOC Industry - **Growth Projections**: The period from 2026 to 2027 is expected to see rapid growth in flagship products from leading companies, driven by national subsidy policies and the explosion of new AI products. The current low market expectations for the SOC sector suggest significant upside potential once market conditions improve [13].

Core Viewpoint - Dongguan Yutong Optical Technology Co., Ltd. announced the completion of the share reduction plan by its directors and senior management, ensuring compliance with relevant laws and regulations [1][4][5]. Group 1: Shareholder Reduction Situation - The share reduction involved shares from the company's initial public offering, private placements, equity incentives, and shares from rights distributions [1]. - The total number of shares considered for the company's total share capital calculation excludes 2,429,000 shares held in the company's repurchase account [3]. Group 2: Shareholder Holding Situation Before and After Reduction - The announcement includes a table detailing the shareholding situation before and after the reduction, although rounding discrepancies may cause minor inconsistencies in totals [2]. Group 3: Compliance and Impact - The share reduction plan adheres to multiple legal frameworks, including the Securities Law of the People's Republic of China and relevant Shenzhen Stock Exchange regulations [4]. - The shareholders involved in the reduction are not the company's controlling shareholders or actual controllers, ensuring that the reduction will not lead to a change in control or significantly impact the company's governance structure and future operations [5]. Group 4: Documentation - The company has made available the shareholder's notice confirming the completion of the share reduction plan [6].

Core Viewpoint - The announcement reveals that key executives of Yutong Optics have completed their share reduction plans, indicating potential changes in insider sentiment regarding the company's stock performance [2] Group 1: Share Reduction Details - The company's director and general manager, Jin Yonghong, reduced his holdings by 2.1957 million shares, representing 0.59% of the total share capital, at an average price of 30.64 yuan per share [2] - Executive Chen Tianfu also reduced his holdings by 99,000 shares, which is 0.03% of the total share capital, at an average price of 29.39 yuan per share [2] - Both executives have completed their share reduction plans within the specified timeframe from October 29, 2025, to January 6, 2026 [2]

证券代码：300790 证券简称：宇瞳光学 公告编号：2026-001 东莞市宇瞳光学科技股份有限公司 注：上述股东减持股份来源为公司首次公开发行前已发行的股份、非公开发行股份、股权激励 及因权益分派送转的股份。 以上计算公司总股本比例时已剔除公司回购专用账户中的股份 2,429,000 股。 2、股东本次减持前后持股情况 关于董事、高级管理人员股份减持完成的公告 董事兼总经理金永红先生、高级管理人员陈天富先生保证向本公司提供的信息内 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。 东莞市宇瞳光学科技股份有限公司（以下简称"公司"）于 2025 年 9 月 17 日披露 了《关于董事、高级管理人员减持股份预披露公告》，近日收到金永红先生及陈天富先 生出具的《股份减持计划实施完成告知函》，金永红先生及陈天富先生本次减持计划已 实施完成，现将有关情况公告如下： 一、股东减持情况 1、股东减持股份情况 | 股东名称 | 减持方式 | | 减持期间 | | 减持均价 （元/股） | 减持价格区 | 减持股数( | 减持股份 占总股本 | | ...

现场检查报告 东兴证券股份有限公司 关于东莞市宇瞳光学科技股份有限公司 2025 年度现场检查报告 | 保荐机构名称：东兴证券股份有限公司 被保荐公司简称：宇瞳光学 | | | | --- | --- | --- | | 保荐代表人姓名：林苏钦 联系电话：010-66555253 | | | | 保荐代表人姓名：吴梅山 联系电话：010-66555253 | | | | 现场检查人员姓名：林苏钦、吴梅山 | | | | 现场检查对应期间：2025 年度 | | | | 现场检查时间：2025 年 12 月 24 日 | | | | 一、现场检查事项 现场检查意见 | | | | （一）公司治理 是 否 | | 不适用 | | 现场检查手段：查阅公司章程、内部控制制度、公司"三会"议事规则及会议资料等资料； | | | | 与公司相关负责人等进行沟通等。 | | | | 1.公司章程和公司治理制度是否完备、合规 | √ | | | 2.公司章程和三会规则是否得到有效执行 | √ | | | 3.三会会议记录是否完整，时间、地点、出席人员及会议内容等要 | √ | | | 件是否齐备，会议资料是否保存完整 | | ...

2025 年度持续督导培训工作的情况报告 2025 年 12 月 24 日。 二、培训地点 宇瞳光学公司会议室。 三、培训对象 宇瞳光学部分董事、高级管理人员、中层以上管理人员、主要股东等人员参 加了现场培训。 东兴证券股份有限公司关于 东莞市宇瞳光学科技股份有限公司 2025 年度持续督导培训工作的情况报告 东兴证券股份有限公司（以下简称"东兴证券"、"保荐机构"）作为东莞 市宇瞳光学科技股份有限公司（以下简称"宇瞳光学"、"公司"）持续督导的 保荐人，根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》 等有关规定，对宇瞳光学部分董事、高级管理人员、中层以上管理人员、主要股 东等进行了现场培训。现将培训情况报告如下： 一、培训时间 现场培训后，东兴证券向宇瞳光学提供了讲义课件及相关学习资料，提请公 司转发至其他因故未参加培训的人员，以供自学。 四、培训内容 本期，东兴证券围绕《最新减持新规》等内容对培训对象进行了培训，进一 步强化了培训对象对相关内容的理解与掌握，从而帮助宇瞳光学进一步提高规范 运作水平，培训达到了预期效果。 特此报告。 （本页以下无正文） 1 2025 年度持续督导培训工作 ...

Group 1 - The optical imaging industry is experiencing a capital operation wave characterized by mergers, acquisitions, and financing driven by the promising market prospects in emerging technology fields such as automotive lenses, AR/VR optics, and machine vision [2][6] - Companies like Yutong Optics have engaged in multiple acquisitions, but the performance of acquired targets has often fallen short of expectations, raising concerns about the effectiveness of their integration strategies [3][5] - Yutong Optics has faced increasing debt levels due to ongoing financial losses, leading to a planned fundraising of 1 billion yuan for expansion and liquidity, which has yet to progress [8][11] Group 2 - Yutong Optics, established in 2011, is the largest global supplier of security lenses and has expanded into automotive optics and intelligent driving sectors through acquisitions [3][5] - The company has made several acquisitions from 2022 to 2025, including stakes in Zhongke Haoye and Jiuzhou Optics, but many of these transactions have not met their performance commitments [5][6] - Despite a reported revenue increase of 18.49% year-on-year to 2.362 billion yuan and a net profit growth of 40.99% to 188 million yuan in the first three quarters of this year, the company's profitability remains weak compared to peers [6][7] Group 3 - Yutong Optics has a research and development expense ratio of 5.6%-7.2%, similar to competitors, but its gross margin of approximately 20% is significantly lower than that of peers like Liding Optics, which stands at around 40% [6][7] - The company has implemented a stock incentive plan at half the market price while simultaneously witnessing significant share pledges and reductions by executives, raising concerns about its financial health [11] - The ongoing merger and acquisition frenzy reflects a strong pursuit of opportunities in emerging markets, but the disconnect between high capital enthusiasm and the companies' operational fundamentals poses risks [11]