Group 1 - The company, Siwei Fushi, announced a stock trading anomaly, with a cumulative closing price increase of over 30% over three consecutive trading days (September 10, 11, and 12, 2025) [1] - The company's controlling shareholder and actual controller have confirmed that there are no undisclosed significant events that should have been disclosed [1] - The company has noted the recent market interest in humanoid robots, servers, and optical modules, and has disclosed its production and operational status in these areas in the 2025 semi-annual report, including future development prospects and risks [1]

Core Viewpoint - The company Si Hui Fu Shi (300852.SZ) announced a plan for its controlling shareholder to reduce its stake by 3% between August 11, 2025, and November 10, 2025 through centralized bidding or block trading [1] Group 1 - The controlling shareholder, Si Hui City Ming Cheng Trading Co., Ltd., along with its concerted action party, Si Hui Tian Cheng Tong Chuang Investment Partnership (Limited Partnership), intends to sell a total of 3% of the company's shares [1] - There was a verification that Si Hui City Ming Cheng Trading Co., Ltd. and its concerted action party engaged in selling company shares during the period of stock fluctuations [1]

| | | 四会富仕电子科技股份有限公司 关于股票交易异常波动的公告 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。 一、股票交易异常波动基本情况 四会富仕电子科技股份有限公司（以下简称"公司"，证券简称：四会富仕， 证券代码：300852）股票交易连续 3 个交易日内（2025 年 9 月 10 日、2025 年 9 月 11 日、2025 年 9 月 12 日）收盘价涨幅偏离值累计超过 30%，根据深圳证券交 易所相关规定，属于股票交易异常波动的情况。 经核查，四会市明诚贸易有限公司与其一致行动人四会天诚同创投资合伙企 业（有限合伙）在股票异动期间存在卖出公司股票的行为。 （六）公司不存在违反公平信息披露规定的其他情形。 （七）公司关注到近期市场对于人形机器人、服务器、光模块相关概念的关 注度较高，公司在《2025 年半年度报告》披露了公司在相关领域的生产经营情 况，包括未来发展前景与面临的风险等。敬请投资者理性决策，谨慎投资。 二、公司关注并核实情况的说明 针对公司股票交易异常波动，公司董事会对控股股东及实际控制人就公司股 票交易异常波动情况进行核查，现 ...

Core Viewpoint - The company, Four Seasons Fushi, primarily focuses on PCB products with significant applications in industrial control and automotive electronics, which together account for approximately 80% of its revenue [1] Group 1: Product Applications - The company's PCB products have a wide range of applications, but currently, they are mainly concentrated in industrial control and automotive electronics [1] - Other fields are still in the market development stage, contributing relatively less to the overall revenue [1] Group 2: Investor Interaction - An investor inquired about the company's products related to optical modules, AI data centers, AI servers, and robotics, indicating interest in potential growth areas [1] - The company encourages investors to make rational decisions and be aware of investment risks [1]

Market Overview - On September 11, the component sector rose by 10.18% compared to the previous trading day, with SiHui FuShi leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Key Stocks Performance - SiHui FuShi (300852) closed at 44.29, with a significant increase of 19.99% and a trading volume of 108,800 shares, amounting to a transaction value of 457 million [1] - Shenghong Technology (300476) saw a rise of 16.28%, closing at 338.00 with a trading volume of 929,400 shares, resulting in a transaction value of 29.143 billion [1] - Nanya New Materials (615889) increased by 14.14%, closing at 72.88 with a trading volume of 111,000 shares [1] - Other notable performers include: - Shengyi Electronics (688183): +13.80%, closing at 89.07 - Zhongfu Circuit (300814): +13.63%, closing at 44.36 - Chongda Technology (002815): +10.01%, closing at 16.48 [1] Capital Flow Analysis - The component sector experienced a net inflow of 6.681 billion in main funds, while retail funds saw a net outflow of 3.827 billion and 2.854 billion respectively [1] - Specific stock capital flows indicate: - Shenghong Technology had a main fund net inflow of 12.05 billion, with retail outflows of 4.29 billion [2] - Huadian Co. (002463) had a main fund net inflow of 7.31 billion, with retail outflows of 3.31 billion [2] - Other stocks like Shengyi Technology (600601) and Shennan Circuit (002916) also showed significant capital movements [2]

Market Overview - The convertible bond market showed positive performance with the Zhongzheng Convertible Bond Index rising by 1.23% to 480.25, with a total trading volume of 76.871 billion [1] - A total of 437 convertible bonds were traded, with 409 increasing in value, 1 remaining flat, and 27 declining [1] Top Performing Convertible Bonds - The top five performing convertible bonds included: - Fushi Convertible Bond (123217) with a rise of 20.0% - Jing 23 Convertible Bond (113669) also up by 20.0% - Jiazhe Convertible Bond (113039) increasing by 17.69% - Chongda Convertible Bond 2 (128131) up by 14.01% - Outong Convertible Bond (not specified) rising by 11.67% [2] Underperforming Convertible Bonds - The five convertible bonds with the largest declines were: - Kaizhong Convertible Bond (113698) down by 3.29% - Yaoshi Convertible Bond (123145) decreasing by 2.92% - Titan Convertible Bond (127096) falling by 2.69% - Huicheng Convertible Bond (not specified) down by 2.04% [2] Corresponding Stock Performance - Among the stocks corresponding to the convertible bonds, 352 stocks rose, 16 remained flat, and 69 declined [1] - The top five performing stocks included: - Si Hui Fushi (300852) with a rise of 19.99% - Jingke Technology (601778) increasing by 10.05% - Chongda Technology (002815) up by 10.01% - Luxshare Precision (not specified) rising by 10.00% - Jingwang Electronics (not specified) also up by 10.00% [4] Declining Stocks - The stocks with the largest declines included: - Titan Shares (not specified) down by 5.64% - Huahai Pharmaceutical (not specified) decreasing by 4.26% - Nenghui Technology (not specified) down by 3.88% - Shouhua Gas (not specified) falling by 2.99% - Shandong Zhanggu (not specified) down by 2.98% [5]

Market Overview - On September 11, A-shares opened mixed, with major indices collectively turning positive as the Shenzhen Component Index rose over 1% and the ChiNext Index increased by 1.7% [1][2] - The Hong Kong market saw declines, with the Hang Seng Technology Index and Hang Seng China Enterprises Index both dropping over 1% [2][4] Sector Performance - The pharmaceutical and biotechnology sectors experienced significant declines, while agriculture stocks initially rose. However, light module and PCB concept stocks saw collective gains [2][3] - The light module index increased by 5.82%, and the PCB index rose by 4.50%, indicating strong performance in these sectors [3] Notable Stocks - Fourhui Fushi (SZ:300852) hit the daily limit up with a 20% increase, closing at ¥44.29, while other PCB stocks like Jingwang Electronics and Jin'an Guoji also reached their daily limits [9][12] - Industrial Fulian reached a new historical high with a market capitalization of ¥1.17 trillion, reflecting strong investor interest [12][13] Company-Specific Developments - Foxconn's Zhengzhou plant is ramping up production for the iPhone 17 series, leading to increased labor demand and heightened overtime work since August [15] - In the pharmaceutical sector, Ji Min Health achieved a 10.02% increase, while Zhen De Medical also saw a 10.02% rise, indicating a partial recovery in the sector [16][17] Regulatory News - Baiyin Nonferrous Metals faced a trading halt due to a disclosure violation, with shares dropping 9.91% to ¥3.82 [19][21] - The company, involved in the mining and processing of various metals, had previously seen a surge in stock price due to rising international metal prices [21]

Group 1 - The A-share market is experiencing a strong performance in robotics concept stocks, with several companies hitting the daily limit up [1] - Notable performers include Si Hui Fu Shi, which reached a 20% increase, and Jie Chuang Zhi Neng, which rose nearly 11% [1][2] - Other companies such as Chongda Technology, Shanghai Hu Gong, and Xin Shi Da also saw their stocks hit the limit up, indicating a bullish trend in the sector [1] Group 2 - The table lists various companies with their stock performance, including Si Hui Fu Shi with a market cap of 6.257 billion and a year-to-date increase of 69.77% [2] - Jie Chuang Zhi Neng has a market cap of 4.565 billion and a year-to-date increase of 87.03% [2] - Industrial Fu Lian stands out with a market cap of 1,171.1 billion and a remarkable year-to-date increase of 179.66% [2]

Group 1 - The core viewpoint is that computing hardware stocks, including CPO and PCB, have seen a significant rise, with specific companies like Qihui Fushi hitting the daily limit increase [1] - Companies such as Jingwang Electronics and Qingshan Paper also previously reached their daily limit increase, indicating strong market performance [1] - Other notable performers include Zhongji Xuchuang, Xinyi Sheng, and Shengyi Electronics, which have shown substantial gains [1]

证券研究报告 | 浙商早知道 报告日期：2025 年 09 月 11 日 浙商早知道 2025 年 09 月 11 日 ：王禾 执业证书编号：S1230512110001 ：021-80105901 ：wanghe@stocke.com.cn 市场总览 重要推荐 【浙商电子 王凌涛/沈钱】四会富仕（300852）公司深度：工控复苏叠加机器人全新增量，海内外扩产落定增长 渐现雏形——20250910 重要点评 浙商早报 1 市场总览 1、大势 9 月 10 日上证指数上涨 0.13%，沪深 300 上涨 0.21%，科创 50 上涨 1.09%，中证 1000 上涨 0.06%，创 业板指上涨 1.27%，恒生指数上涨 1.01%。 【浙商电新 邱世梁/黄华栋】电池 行业深度：固态中试线加速落地，各材料环节全面升级——20250910 http://www.stocke.com.cn 1/4 请务必阅读正文之后的免责条款部分 大势：9 月 10 日上证指数上涨 0.13%，沪深 300 上涨 0.21%，科创 50 上涨 1.09%，中证 1000 上涨 0.06%，创业 板指上涨 1.27%，恒生指数上涨 1 ...