Core Viewpoint - The stock of Nanji Guang fell by 2.09% on November 11, with a current price of 25.78 CNY per share, reflecting a market capitalization of 5.74 billion CNY and a trading volume of 44.58 million CNY [1] Company Overview - Nanji Guang, established on January 4, 2009, and listed on February 3, 2021, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of mobile phone components, primarily focusing on backlight display modules, which account for 99.18% of its revenue [2] - The company operates within the electronic industry, specifically in the optical optoelectronics and LED sectors, and is associated with concepts such as Xiaomi, smartphones, consumer electronics, MLED, and LED [2] Financial Performance - For the period from January to September 2025, Nanji Guang reported a revenue of 615 million CNY, representing a year-on-year growth of 158.18%. The net profit attributable to the parent company reached 110 million CNY, showing a significant increase of 7228.28% [2] - Since its A-share listing, Nanji Guang has distributed a total of 27.36 million CNY in dividends, with no dividends paid in the last three years [3] Shareholder Information - As of October 20, 2025, the number of shareholders for Nanji Guang was 15,200, a slight decrease of 0.05% from the previous period. The average number of circulating shares per person increased by 0.05% to 10,365 shares [2] - Notably, as of September 30, 2025, Huazhang Small and Medium Growth Mixed Fund (040007) has exited the list of the top ten circulating shareholders [3]

Core Insights - The light guide plate (LGP) industry in China is experiencing significant growth, driven by advancements in consumer electronics and emerging industries, with market size expected to reach 10.66 billion yuan in 2024 and exceed 11.17 billion yuan in 2025 [1][9][10] - The industry has established a complete supply chain, with domestic production increasing, particularly in high-end materials, while the competition is characterized by local leaders excelling in niche markets and international players maintaining a high-end positioning [1][5][12] Industry Overview - Light guide plates are optical components that convert line light sources into uniform surface light sources, utilizing optical-grade PMMA or PC materials [2][3] - The industry is segmented by manufacturing processes, application scenarios, and substrate types, catering to diverse market demands [3][4] Supply Chain Structure - The Chinese light guide plate industry has a clear and collaborative supply chain, with upstream relying on optical-grade materials and downstream applications expanding into automotive electronics and AR/VR [5][7] - The market is dominated by display panels, lighting, and automotive electronics, which together account for over 97% of market demand [7][9] Current Market Analysis - The market for light guide plates is expanding due to the increasing demand for thinner and higher transparency products in consumer electronics and the rapid growth of automotive displays [9][11] - The overall market size is projected to grow steadily, supported by the continuous influx of LCD panel production capacity into mainland China [10][11] Competitive Landscape - The competition in the light guide plate industry is marked by local leaders focusing on specific segments while international companies maintain a stronghold in high-end optical materials [12][14] - Key players like Tianlu Technology and Nanjiguang are leading in the mid-to-large size segments, while companies like Crystal Optoelectronics and Weiwang Technology are focusing on high-value areas such as AR/VR [12][14] Future Development Trends - The industry is expected to focus on three main areas: technological upgrades, expansion into new application scenarios, and deeper industry integration [15][18] - Technological advancements will drive the shift towards ultra-thin, high-precision, and environmentally friendly materials, while demand will increasingly come from diverse sectors beyond traditional consumer electronics [16][17] - The integration of industry clusters will enhance collaboration and competitiveness among domestic companies, accelerating the process of domestic substitution in high-end products [18]

证券代码：300940 证券简称：南极光 公告编号：2025-056 本发明提供了一种用于背光源的泡棉裁切和贴附工艺，在第一离型膜上贴附并裁切第二 离型膜，得到连接部和支撑部，在第二离型膜上贴附并裁切泡棉，得到成品泡棉，成品泡棉 位于连接部与支撑部的连接位置处，使得成品泡棉贴附在连接部上，以连接部作为中间连接 件，增大附着面积，方便拾取连接部进行成品泡棉的自动贴附作业，提升泡棉贴附的稳定性， 连接部上可以贴附多条成品泡棉，可以实现一次性贴附多条成品泡棉，有效的提升贴附效率， 贴附过程可以以连接部进行贴附过程的定位，有效提升贴附精度，以满足背光产品上泡棉贴 附的尺寸公差要求。 深圳市南极光电子科技股份有限公司 以上专利为公司自主研发，该发明专利的取得不会对公司近期生产经营产生重大影响， 但有利于公司进一步完善知识产权保护体系，巩固自主技术领先优势，并通过持续创新机制 驱动技术迭代，提升公司的核心竞争力。 关于公司取得发明专利证书的公告 特此公告。 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。 近日，深圳市南极光电子科技股份有限公司（以下简称"公司"）取得了一项 ...

Core Viewpoint - The stock of Nanjing Guangguang has shown significant growth this year, with a year-to-date increase of 101.63%, despite recent fluctuations in the short term [2]. Company Overview - Nanjing Guangguang Electronics Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on January 4, 2009. It was listed on February 3, 2021. The company focuses on the research, production, and sales of mobile phone components, primarily backlight display modules, which account for 99.18% of its revenue [2]. - The company operates within the electronic industry, specifically in the optical optoelectronics and LED sectors. It is associated with concepts such as Xiaomi, OLED, Huawei, smartphones, and consumer electronics [2]. Financial Performance - For the period from January to September 2025, Nanjing Guangguang reported a revenue of 615 million yuan, representing a year-on-year growth of 158.18%. The net profit attributable to shareholders reached 110 million yuan, marking a substantial increase of 7228.28% [2]. - As of October 20, 2025, the number of shareholders was 15,200, a slight decrease of 0.05% from the previous period, while the average circulating shares per person increased by 0.05% to 10,365 shares [2]. Stock Performance - As of October 31, the stock price of Nanjing Guangguang rose by 2.02% to 27.22 yuan per share, with a trading volume of 33.1 million yuan and a turnover rate of 0.78%. The total market capitalization stands at 6.06 billion yuan [1]. - In terms of capital flow, there was a net inflow of 818,700 yuan from main funds, with large orders accounting for 21.85% of purchases and 19.38% of sales [1]. Dividend Information - Since its A-share listing, Nanjing Guangguang has distributed a total of 27.36 million yuan in dividends, with no dividends paid in the last three years [3]. Institutional Holdings - As of September 30, 2025, Huazhang Small and Medium Growth Mixed Fund (040007) has exited the list of the top ten circulating shareholders [3].

Core Viewpoint - Nanji Guang is a leading backlight display module supplier in China, with a strong technical foundation and efficient production capabilities, serving many well-known brands [1] Group 1: Business Performance - In Q3 2025, Nanji Guang achieved revenue of 615 million yuan, ranking 23rd among 30 companies in the industry, significantly lower than the top company Sanan Optoelectronics at 13.82 billion yuan and the second company Mulinsen at 12.18 billion yuan [2] - The revenue from backlight display module products was 394 million yuan, accounting for 99.18% of total revenue, while other revenue was 3.26 million yuan, making up 0.82% [2] - The net profit for the same period was 110 million yuan, ranking 7th in the industry, lower than the top company Leyard at 295 million yuan and the second company Mulinsen at 213 million yuan, but higher than the industry average of 46.49 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Nanji Guang's debt-to-asset ratio was 28.34%, up from 24.16% year-on-year, but still below the industry average of 46.71%, indicating good solvency [3] - The gross profit margin for the same period was 27.62%, significantly up from 10.34% year-on-year and higher than the industry average of 20.22%, showing enhanced profitability [3] Group 3: Management Compensation - The chairman, Pan Lianxing, received a salary of 881,600 yuan in 2024, an increase of 275,900 yuan from 2023 [4] - The general manager, Jiang Faming, earned 681,300 yuan in 2024, up by 75,000 yuan from the previous year [4] Group 4: Shareholder Information and Market Position - As of September 30, 2025, the number of A-share shareholders increased by 3.54% to 15,200, while the average number of circulating A-shares held per shareholder decreased by 3.41% to 10,400 [5] - The company has become the exclusive supplier of backlight modules for the Switch 2, which has exceeded sales expectations in its first month, becoming a core growth driver [5] - Forecasts for net profit attributable to shareholders from 2025 to 2027 are 245 million, 394 million, and 462 million yuan, respectively, with corresponding basic earnings per share of 1.1, 1.8, and 2.1 yuan [5]

Core Insights - The core viewpoint of the article highlights the significant growth in revenue and net profit for the company, driven by strategic product adjustments and increased research and development investments [3][5]. Financial Performance - In Q3 2025, the company achieved operating revenue of 218 million yuan, a year-on-year increase of 77.08% [3][4]. - The net profit attributable to shareholders reached 37.25 million yuan, up 454.69% year-on-year [3][4]. - The net profit excluding non-recurring gains and losses was 32.63 million yuan, a staggering increase of 2008.29% compared to the previous year [3][4]. - For the first three quarters of 2025, total operating revenue was 615 million yuan, reflecting a year-on-year growth of 158.18% [3][4]. - The net profit attributable to shareholders for the first three quarters was 110.14 million yuan, a remarkable increase of 7228.28% [3][4]. - The net profit excluding non-recurring gains and losses for the same period was 104 million yuan, up 1076.01% year-on-year [3][4]. Cash Flow and Assets - The net cash flow from operating activities increased by 549.69% year-on-year, primarily due to increased overseas revenue and cash receipts from sales [4]. - As of the end of the reporting period, total assets amounted to approximately 1.66 billion yuan, up from 1.51 billion yuan at the end of the previous year [4]. - The equity attributable to shareholders was approximately 1.19 billion yuan, an increase from 1.08 billion yuan at the end of the previous year [4]. Product Strategy and R&D - The core driver of the explosive performance is attributed to the company's precise adjustments in product structure, shifting focus from low-margin mobile backlight products to high-end backlight products for gaming, e-sports devices, tablets, and laptops [5]. - The company has increased its R&D investment, with expenditures reaching 197 million yuan in the first nine months of 2025, showing stable growth from 180 million yuan in the same period last year [5]. - The effectiveness of R&D investments is evident, as the company secured four national invention patents during the reporting period, laying a foundation for future development [5].

Core Insights - A total of 1,200 companies released their Q3 2025 financial reports, with 596 reporting a year-on-year increase in net profit and 604 showing a decline [1] - Companies that experienced simultaneous growth in both net profit and revenue numbered 447, while 387 companies saw declines in both metrics [1] - Notably, *ST Weier reported the highest growth in net profit, with an increase of 15,294.42% [1] Financial Performance Summary - **Top Performers**: - *ST Weier: EPS of 1.3600, net profit of 19,534.45 million, net profit growth of 15,294.42%, revenue of 58,788.62 million, revenue growth of 6.44% [1] - Nanji Guang: EPS of 0.4947, net profit of 11,013.91 million, net profit growth of 7,228.28%, revenue of 61,533.00 million, revenue growth of 158.18% [1] - Huahong Technology: EPS of 0.3397, net profit of 19,652.38 million, net profit growth of 7,110.70%, revenue of 546,096.11 million, revenue growth of 34.94% [1] - **Decliners**: - Ningbo Zhongbai: EPS of 0.2050, net profit of 4,601.16 million, net profit decline of 46.03%, revenue of 37,858.51 million [2] - *ST Weier: Despite the massive increase in net profit, the company still faced challenges in revenue growth compared to others [1] - **Notable Increases**: - Companies with net profit growth exceeding 100% included *ST Weier, Nanji Guang, and others, indicating strong performance in specific sectors [1][2] - **Overall Trends**: - The overall performance of the companies shows a mixed trend, with a slight majority experiencing revenue growth, while net profit growth was more polarized [1]

2025年10月30日，南极光(300940.SZ)发布2025年三季报。 公司营业总收入为6.15亿元，在已披露的同业公司中排名第57。归母净利润为1.10亿元。经营活动现金净流入为1.37亿元。 公司最新资产负债率为28.34%，较上季度资产负债率增加0.37个百分点，较去年同期资产负债率增加4.18个百分点。 公司最新毛利率为27.62%，较上季度毛利率减少0.75个百分点。最新ROE为9.26%。 公司摊薄每股收益为0.49元。 | 序号 | 股东名称 | 持股 | | --- | --- | --- | | 1 | 姜发明 | 21.5 | | 2 | 潘连兴 | 17.5 | | 3 | 锦福源(海南)私募基金管理合伙企业(有限合伙)-锦福源五号私募证券投资基金 | 3.41 | | 4 | 深圳市奥斯曼咨询管理合伙企业(有限合伙) | 2.46 | | 5 | 深圳市南极光管理咨询合伙企业(有限合伙) | 2.46 | | 6 | 重菊英 | 0.93 | | 7 | 罗健 | 0.81 | | 8 | 邓克维 | 0.65 | | 9 | 任元林 | 0.50 | | 10 | 戴路 | 0. ...

Group 1 - Company announced the convening of the third session of the seventh board meeting on October 29, 2025, to discuss the proposal for the first extraordinary general meeting of shareholders in 2025 [1] - For the first half of 2025, the company's revenue composition shows that products larger than or equal to 5.5 inches accounted for 99.18%, while other businesses contributed 0.82% [1]

证券日报网讯10月29日晚间，南极光（300940）发布公告称，公司及控股子公司不存在逾期债务对应的 担保、涉及诉讼的担保及因担保被判决败诉而应承担损失等情形。 ...