证券代码：300959 证券简称：线上线下 公告编号：2025-070 无锡线上线下通讯信息技术股份有限公司 关于公司控股股东涉及诉讼的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、本次诉讼的基本情况 无锡线上线下通讯信息技术股份有限公司（以下简称"公司"）于近日收到公 司控股股东深圳深蕾科技股份有限公司（以下简称"深蕾科技"）的通知，深蕾科 技于2025年11月19日收到深圳前海合作区人民法院寄来的传票和起诉状，知悉深 蕾科技持股比例5%以下的少数股东申请法院撤销深蕾科技2024年年度股东大会 通过的《关于收购无锡线上线下通讯信息技术股份有限公司控制权的议案》及相 关决议，案件具体情况如下： 1、诉讼当事人基本情况 原告：海南当歌华尔股权投资合伙企业（有限合伙）、嘉兴当歌鑫蕾创业投 资合伙企业（有限合伙），合计持有深蕾科技股份7,771,459股，占深蕾科技股份 总数的4.58%。 被告：深圳深蕾科技股份有限公司，为公司控股股东，截止本公告日，其持 有公司股份10,706,199股，占公司总股本的13.32%。 2、案件事由和原告诉讼请求 原告拟 ...

证券日报网讯线上线下（300959）11月21日在互动平台回答投资者提问时表示，权益登记日为2025年11 月10日的公司在册股东人数为12649户。 ...

Market Overview - On November 20, the communication services sector rose by 0.57% compared to the previous trading day, with Yitong Century leading the gains [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Stock Performance - Yitong Century (300310) closed at 6.37, up 5.99% with a trading volume of 880,900 shares and a transaction value of 556 million [1] - ST Tongmai (603559) closed at 60.8, up 5.06% with a trading volume of 33,900 shares [1] - Chaoxun Communication (603322) closed at 48.45, up 3.15% with a trading volume of 118,900 shares and a transaction value of 569 million [1] - Other notable gainers include Jingtong Holdings (300292) and Huichang Communication (300578), with increases of 3.02% and 2.92% respectively [1] Fund Flow Analysis - The communication services sector saw a net inflow of 55.01 million from institutional investors, while retail investors contributed a net inflow of 157 million [2] - However, speculative funds experienced a net outflow of 212 million [2] Individual Stock Fund Flow - China Unicom (600050) had a net inflow of 217 million from institutional investors, but a net outflow of 107 million from speculative funds [3] - Yitong Century (300310) saw a net inflow of 108 million from institutional investors, with a significant net outflow from retail investors amounting to 97.79 million [3] - Aofei Data (300738) experienced a net inflow of 10.2 million from institutional investors, while retail investors had a net outflow of 65.31 million [3]

Core Viewpoint - The article emphasizes the importance of market regulation in optimizing the business environment and stimulating market vitality, which is crucial for industrial transformation and high-quality development [1] Group 1: Market Regulation and Quality Development - The market supervision department of Liaocheng is implementing a quality-driven city strategy to support high-quality industrial development and modern industrial system construction [1] - By 2025, the market supervision bureau aims to enhance its regulatory functions and promote a "service deepening year" to advance the quality-driven strategy [1] Group 2: Service Optimization for Enterprises - Innovations in foreign investment registration processes have been introduced, including a "5S Smart Service" model to facilitate quick access for foreign enterprises [2] - A service station for the pharmaceutical industry has been established to streamline approval processes, helping 12 companies complete necessary checks and registrations [2] Group 3: Technical Capability Enhancement - The focus is on strengthening infrastructure and upgrading testing equipment across 12 industrial chains to support technical breakthroughs for enterprises [3] - Training programs for inspection and testing personnel have been implemented, enhancing professional capabilities and expanding testing services for local businesses [3] Group 4: Intellectual Property Promotion - The establishment of a patent utilization mechanism aims to enhance the conversion of patents into practical applications, particularly in high-end equipment and chemical industries [4] - A risk warning system for overseas intellectual property issues has been developed to assist local companies in navigating international markets [4] Group 5: Market Vitality Enhancement - The implementation of a service-oriented law enforcement approach has reduced burdens on 154 market entities through a "no penalty list" [5] - A credit repair reform has been introduced, facilitating over 11,200 credit repair cases, which has helped more than 8,200 market entities return to normal operations [5] Group 6: Precision Regulation - A credit risk classification system has been established, categorizing over 162,600 enterprises into different risk levels to ensure targeted regulatory measures [6] - The exploration of "non-intrusive regulation" methods, such as online monitoring and big data analysis, aims to minimize on-site inspections while maintaining oversight [6]

Core Insights - The consumption trend during the Double Eleven shopping festival highlights the strong performance of the liquor sector, particularly Moutai, with significant online sales growth and stable pricing in physical markets [1][3][4] Group 1: Sales Performance - Moutai's transaction volume on Meituan's flash purchase platform increased by 612% year-on-year, while Douyin's sales exceeded 100 million [1] - The average retail price of Moutai remained stable across various regions, typically ranging from 1900 to 2400 RMB per bottle [1][3] Group 2: Price Stability - Nationwide data indicates that Moutai's prices are showing "narrow fluctuations and controllable ranges," signaling stability during the liquor industry's adjustment period [3] - In key markets like Jiangsu and Zhejiang, Moutai's prices are holding firm, with original cases priced at 1800 RMB and scattered bottles at 1770 RMB [3] Group 3: Market Dynamics - Moutai's price resilience is attributed to multiple factors, including optimized quota management and adjusted payment cycles, fostering a long-term symbiotic relationship with distributors [4] - The control over low-priced "traffic-generating" products is helping Moutai's prices return to rational expectations, reflecting the company's long-term market strategy [4] Group 4: Investor Sentiment - The capital market shows a long-term optimistic view on Moutai, with the company ranking first in popularity on the A-share market as of November 18 [5] - Investors recognize Moutai's stable performance over the years, which contributes to its long-term value proposition [5] Group 5: Brand Strength - Moutai has been ranked first in the 2025 World Distilled Spirits Brand List, marking its transition from a "Chinese famous liquor" to a "world brand" [5] - The opening of the first Moutai cultural experience center in Guangzhou enhances the brand's cultural premium and consumer trust [5]

Core Points - The article discusses a fire safety training session organized by the Haidian District Fire Rescue Bureau and the District Housing and Urban-Rural Development Committee to address fire hazards at construction sites during the dry winter season [1] Group 1: Training Session Details - The training was conducted in a hybrid format, combining online and offline participation, which effectively addressed the challenge of dispersed personnel at construction sites [1] - Peak online participation reached several hundred individuals, covering 95% of ongoing projects in the district [1] Group 2: Fire Safety Guidelines - Specific guidelines were provided for high-risk temporary construction housing, including maintaining clear fire lanes, prohibiting the stacking of materials, ensuring the fire performance of materials meets standards, and regulating temporary electrical setups [1] - The training emphasized the importance of having complete and functional fire safety equipment [1] Group 3: Implementation and Responsibility - The Haidian District Fire Rescue Bureau stressed the need to adopt the mindset that "hazards are accidents," advocating for proactive inspections [1] - Construction units are required to establish comprehensive fire safety systems, assigning responsibilities to every position and individual [1] - Companies were encouraged to create a safety culture through visible safety slogans and educational videos at construction sites [1]

Core Insights - The communication services sector experienced a slight increase of 0.11% on November 18, while the Shanghai Composite Index fell by 0.81% and the Shenzhen Component Index decreased by 0.92% [1] Group 1: Stock Performance - The top-performing stocks in the communication services sector included: - Online and Offline (300959) with a closing price of 150.72, up by 2.90% and a trading volume of 77,000 shares, totaling 1.158 billion yuan [1] - Dataport (603881) closed at 35.88, up by 2.25% with a trading volume of 903,000 shares, totaling 3.244 billion yuan [1] - Super Communication (603322) closed at 47.32, up by 2.11% with a trading volume of 120,300 shares, totaling 568 million yuan [1] Group 2: Stock Declines - Notable declines in the communication services sector included: - Zhongjia Bochuang (000889) with a closing price of 4.22, down by 5.80% and a trading volume of 604,800 shares, totaling 258 million yuan [2] - Sanwei Communication (002115) closed at 11.71, down by 4.25% with a trading volume of 1,090,500 shares, totaling 128.3 million yuan [2] - Zhongfutong (300560) closed at 21.82, down by 3.19% with a trading volume of 1,008,900 shares, totaling 232 million yuan [2] Group 3: Capital Flow - The communication services sector saw a net outflow of 606 million yuan from institutional investors, while retail investors contributed a net inflow of 350 million yuan [2][3] - Key stocks with significant capital inflows included: - Online and Offline (300959) with a net inflow of 94.528 million yuan from institutional investors [3] - Aofei Data (300738) with a net inflow of 56.194 million yuan from institutional investors [3] - Bee Assistant (301382) with a net inflow of 50.225 million yuan from institutional investors [3]

Group 1 - The stock price of Wuxi Online and Offline Communication Information Technology Co., Ltd. increased by 5.48% to 154.50 CNY per share, with a trading volume of 542 million CNY and a turnover rate of 6.97%, resulting in a total market capitalization of 12.417 billion CNY [1] - The company, established on September 14, 2012, and listed on March 22, 2021, primarily engages in mobile information services, with 89.34% of its revenue coming from this segment, 10.51% from digital marketing, and 0.15% from other sources [1] Group 2 - The Huiquan Qiyuan Future Mixed Initiation A Fund (014827) holds 800 shares of Wuxi Online and Offline, representing 0.55% of the fund's net value, ranking as the seventh largest holding [2] - The fund has achieved a year-to-date return of 45.67%, ranking 1170 out of 8140 in its category, and a one-year return of 48.11%, ranking 881 out of 8057 [2] Group 3 - The fund manager of Huiquan Qiyuan Future Mixed Initiation A Fund is Shen Xin, who has been in the position for 1 year and 245 days, with the fund's total asset size at 976 million CNY [3] - During Shen Xin's tenure, the best fund return was 49.88%, while the worst was 0.26% [3]

Core Insights - The new energy concept stocks continue to strengthen, with the power equipment sector seeing significant gains, leading to a total market capitalization exceeding 100 billion yuan for leading companies [1] - The lithium battery industry chain has experienced a collective surge, closely related to favorable policies and improved supply-demand dynamics [2] Group 1: Stock Performance - A total of 83 stocks reached historical highs this week, a decrease from 94 the previous week [1] - Among these, the power equipment, basic chemicals, and electronics sectors had the highest concentration of stocks reaching new highs, with 17, 11, and 11 stocks respectively [1] - The main board had 48 stocks, the Sci-Tech Innovation Board had 14, the Growth Enterprise Market had 18, and the Beijing Stock Exchange had 3 stocks reaching new highs [1] Group 2: Lithium Battery Industry - The lithium battery industry is benefiting from favorable policies, such as the recent guidelines from the National Energy Administration promoting large-scale development and high-level consumption of new energy [2] - In Q3, China's energy storage lithium battery shipments reached 165 GWh, a year-on-year increase of 65% [2] - The supply-demand situation is improving, with some products experiencing supply tightness, while demand for energy storage and power batteries is exceeding expectations [2] Group 3: Price Movements - Prices for lithium hexafluorophosphate have surged, with some market quotes reaching 150,000 yuan per ton, doubling since mid-October [3] - The prices of electrolyte additives VC and FEC have also increased significantly, with VC rising 77% from 48,700 yuan per ton in early June to 86,000 yuan per ton by November 12 [3] - FEC prices increased by 64%, from 33,000 yuan per ton at the end of May to 54,000 yuan per ton by November 12 [3] Group 4: Trading Volume - The stocks with the highest trading volumes this week included TBEA, Shannon Chip, Jiangbolong, Demingli, and Canadian Solar, with trading volumes of 57.22 billion yuan, 52.65 billion yuan, 35.35 billion yuan, 27.33 billion yuan, and 25.20 billion yuan respectively [3] Group 5: Market Capitalization - Among the 83 stocks, six had a market capitalization exceeding 100 billion yuan, with Agricultural Bank of China, Industrial and Commercial Bank of China, Baofeng Energy, Jiangbolong, and TBEA leading the list with market caps of 29,748.56 billion yuan, 29,403.52 billion yuan, 1,421.21 billion yuan, 1,220.01 billion yuan, and 1,195.49 billion yuan respectively [5] Group 6: Stock Price Increases - The stocks with the highest price increases this week included Huasheng Lithium Battery, Haike New Source, Furui Shares, Online and Offline, and Yuegui Shares, with increases of 79.61%, 71.38%, 61.23%, 46.55%, and 36.45% respectively [6]

Core Insights - Global smartphone shipments are expected to decline by 1% year-on-year in the first half of 2025, indicating a weak market environment [1] - Apple's iPhone 17 series has unexpectedly performed well, particularly in China, with a 14% increase in sales during the first ten days post-launch and a total shipment of 10.1 million units in Q3, making it the only major brand to achieve positive growth [1][4] - Despite criticisms of Apple's product strategy, the iPhone 17 series has gained traction due to targeted marketing and hardware upgrades, such as the introduction of a 120Hz display in the standard model [5][10] Market Performance - The iPhone 17 series has seen strong demand in China, with over 8.25 million units activated by November 2, including 3.95 million units of the Pro Max model [4] - The iPhone 17 series has become Apple's best-selling smartphone in recent years, with a 29% year-on-year increase in sales in China during October [10] - Apple's dominance in the high-end market is evident, as it occupied half of the top ten spots in sales rankings during the Double 11 shopping festival, while Android competitors lagged behind [13] Product Strategy - Apple's recent product strategy has been characterized by incremental updates rather than major innovations, leading to the term "toothpaste squeezing" to describe the gradual rollout of features [5][19] - The iPhone 17 standard model's popularity is attributed to hardware upgrades, including a 120Hz display and increased storage capacity at the same price point [5][6] - The iPhone Air has struggled in the market, with activation rates significantly lower than the Pro series, leading to production cuts and delays in future releases [16][19] Supply Chain and Cost Management - Apple's supply chain improvements under CEO Tim Cook have allowed the company to maintain high profit margins, with the manufacturing cost of the iPhone 17 standard model's OLED panel reduced to approximately $40, down from $65 for the previous model [9] - The company has successfully synchronized global market releases and enhanced its bargaining power for key components, contributing to its profitability [9] Future Outlook - The smartphone market is expected to face challenges in 2026, with rising component costs leading to a projected 5% increase in global smartphone prices [22][23] - Apple is preparing for the launch of the iPhone 18 and a potential foldable phone, with ongoing developments in AI technology that may impact its competitive position [20][22]