Summary of Key Points Core Viewpoint - On September 16, several companies disclosed their shareholding changes, with notable increases in holdings by some executives and significant reductions by others, indicating varied market sentiments and potential investment opportunities. Group 1: Increased Holdings - Suzhou Bank's 12 executives completed their share buyback plan, with a total investment of nearly 5 million yuan [3] - Luxshare Precision's Vice Chairman Wang Laisheng completed a 200 million yuan share buyback, bringing the total for 2022 to 500 million yuan [3] Group 2: Decreased Holdings - Newhua Co. plans to reduce holdings by up to 75,200 shares [3] - MediTech shareholders plan to collectively reduce 1.71% of the company's shares [3] - Chengbang Co. shareholders plan to reduce up to 0.5% of the company's shares [3] - Chahua Co.'s Director and Deputy General Manager Chen Zhihai plans to reduce up to 40,000 shares [3] - Artis shareholders plan to reduce up to 2.04% of the total share capital [3] - Zhongyou Technology shareholders plan to reduce up to 3% of the company's shares [3] - Deyang Co. plans to reduce up to 1.5805 million shares [3] - Changhua Group plans to reduce up to 5.3806 million repurchased shares [3] - Tiancheng Technology shareholders plan to reduce up to 1.68% of the company's shares [3] - Anzheng Fashion plans to reduce up to 1.87004 million repurchased shares [3] - Sichuan Gold shareholders plan to reduce a total of 1.5938% of the company's shares [3] - Zhongyan Co. plans to reduce up to 30,000 shares [3] - Fuchuang Precision shareholders plan to reduce up to 3% of the company's shares [3] - Beifang Huachuang plans to reduce 2.5919 million shares through centralized bidding [3] - Xiamen Tungsten plans to reduce up to 1% of Tengyuan Mining's shares [3] - Changgao Electric plans to reduce 3.465 million shares of its associate company [3] - Xinghua New Materials' specific shareholder plans to reduce 1.17% of the company's shares [3] - Tonghe Technology shareholders plan to reduce up to 3% of the company's shares [3] - Anlian Ruishi's Director Shen Lei plans to reduce up to 100,000 shares [3] - Yidong Electronics' controlling shareholder plans to reduce up to 2.96% of the total share capital [3] - Saiwei Times shareholders plan to reduce up to 3% of the company's shares [3] - Tiandi Digital shareholders plan to reduce up to 2.96% of the total share capital [3] - Wanjie Technology's Director and Deputy General Manager Liu Huaiqi plans to reduce up to 386,000 shares [3] - Haitai New Light's actual controller's concerted action plans to reduce up to 0.2102% of the shares [3] - Tengyuan Mining's Xiamen Tungsten and Changjiang Chen Dao plan to reduce up to 2% of the total share capital [3] - Yayi International's Director and senior management plan to reduce up to 540,000 shares [3]

截至发稿，奕东电子市值为111亿元。 每经头条（nbdtoutiao）——海拔4306米现"秦始皇密令"，获官方"身份认定"！古文字学家刘钊：秦人 寻仙采药足迹确至青藏高原 （记者 王晓波） 每经AI快讯，奕东电子（SZ 301123，收盘价：47.62元）9月16日晚间发布公告称，奕东电子科技股份 有限公司控股股东、实际控制人的一致行动人王刚先生、东莞奕孚投资咨询企业（有限合伙）、东莞奕 合投资咨询企业（有限合伙）、东莞奕萃投资咨询企业（有限合伙）、东莞奕宁投资咨询企业（有限合 伙）合计持有公司股份约1573万股，（占公司总股本的6.73%，占公司剔除回购专用账户中股份数量后 股份总数的6.82%）。邓玉泉先生为公司实际控制人、控股股东；王刚先生为邓玉泉配偶的兄弟，系公 司实际控制人的一致行动人。员工持股平台奕孚投资、奕合投资、奕萃投资和奕宁投资的执行事务合伙 人均为邓玉泉，均为邓玉泉控制的企业，系公司实际控制人的一致行动人。王刚先生、奕孚投资、奕合 投资、奕萃投资、奕宁投资计划自本公告发布之日起十五个交易日后的三个月内以集中竞价或大宗交易 方式合计减持公司股份不超过约692万股，（占公司总股本的2.96% ...

格隆汇9月16日丨奕东电子(301123.SZ)公布，控股股东、实际控制人的一致行动人王刚先生、东莞奕孚 投资咨询企业（有限合伙）、东莞奕合投资咨询企业（有限合伙）、东莞奕萃投资咨询企业（有限合 伙）、东莞奕宁投资咨询企业（有限合伙）（分别简称"奕孚投资"、"奕合投资"、"奕萃投资"、"奕宁 投资"）合计持有公司股份15,732,590股，（占公司总股本的6.73%，占公司剔除回购专用账户中股份数 量后股份总数的6.82%）。邓玉泉先生为公司实际控制人、控股股东；王刚先生为邓玉泉配偶的兄弟， 系公司实际控制人的一致行动人。员工持股平台奕孚投资、奕合投资、奕萃投资和奕宁投资的执行事务 合伙人均为邓玉泉，均为邓玉泉控制的企业，系公司实际控制人的一致行动人。王刚先生、奕孚投资、 奕合投资、奕萃投资、奕宁投资计划自本公告发布之日起十五个交易日后的三个月内以集中竞价或大宗 交易方式合计减持公司股份不超过6,916,833股，（占公司总股本的2.96%，占公司剔除回购专用账户中 股份数量后股份总数的3.00%）。 ...

证券代码：301123 证券简称：奕东电子 公告编号：2025-052 奕东电子科技股份有限公司 关于控股股东、实际控制人的一致行动人减持股份的 预披露公告 控股股东、实际控制人之一致行动人王刚先生、东莞奕孚投资咨询企业（有限合 伙）、东莞奕合投资咨询企业（有限合伙）、东莞奕萃投资咨询企业（有限合伙）、 东莞奕宁投资咨询企业（有限合伙）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。 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。 特别提示： 奕东电子科技股份有限公司(以下简称"公司"或"奕东电子")控股股东、 实际控制人的一致行动人王刚先生、东莞奕孚投资咨询企业（有限合伙）、东 莞奕合投资咨询企业（有限合伙）、东莞奕萃投资咨询企业（有限合伙）、东 莞奕宁投资咨询企业（有限合伙）（以下分别简称"奕孚投资"、"奕合投资"、 "奕萃投资"、"奕宁投资"）合计持有公司股份15,732,590股，（占公司总 股本的6.73%，占公司剔除回购专用账户中股份数量后股份总数的6.82%）。邓 玉泉先生为公司实际控制人、控股股东；王刚先生为邓玉泉配偶的兄弟，系公 司实际控制 ...

招商证券股份有限公司 关于奕东电子科技股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐机构名称：招商证券股份有限公司 | 被保荐公司简称：奕东电子 | | --- | --- | | 保荐代表人姓名：章毅 | 联系电话：0755-82943664 | | 保荐代表人姓名：刘光虎 | 联系电话：0755-83734484 | | 报告事项 | 说明 | | --- | --- | | 1.保荐代表人变更及其理由 | 无 | | | 1、事项概述：奕东电子于2025年6月收到深圳证券交易所《关 于对奕东电子科技股份有限公司的监管函》创业板监管函 | | | 〔2025〕第70号，主要系公司未能在规定期限内真实、准确、 | | | 完整地披露业绩预告。 | | | 2、整改情况：公司高度重视相关问题，召集相关部门和人 | | 2.报告期内中国证监会和本 | 员对相关问题进行了全面梳理和针对性地分析讨论，同时根 | | 所对保荐机构或者其保荐的 | 据相关法律法规、规范性文件及公司各项管理制度的规定和 | | 公司采取监管措施的事项及 | 要求，结合公司实际情况，按照要求逐项梳理并认真落实整 | | 整改情 ...

Investment Rating - The report assigns a "Buy-A" investment rating to the company, with a target price of 50.07 CNY per share based on a PS valuation method [8][9][17]. Core Insights - The company achieved a record high revenue of 1.009 billion CNY in H1 2025, representing a year-on-year increase of 27.77%. However, the net profit attributable to shareholders decreased by 74.52% to 0.06 million CNY [1][2]. - The growth in revenue is primarily driven by the sales of IO high-speed communication connectors, AI computing chip liquid cooling components, and new application FPCs. The company is expected to benefit from the ongoing AI trend and the emerging high-growth sectors [2][3]. - The company has entered the AI computing server liquid cooling market, achieving mass production of liquid cooling components in 2025. This segment is anticipated to provide continuous growth opportunities as demand for cooling solutions in AI servers increases [3][16]. Revenue and Profit Forecast - The company is projected to generate revenues of 2.207 billion CNY, 2.827 billion CNY, and 3.596 billion CNY for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 29.02%, 28.11%, and 27.21% [4][13][17]. - The net profit attributable to shareholders is expected to be 0.42 million CNY, 1.33 million CNY, and 2.08 million CNY for the same years [4][17]. Business Segment Performance - The company's revenue from connector components, FPC, and LED backlight modules for H1 2025 was 0.452 billion CNY, 0.378 billion CNY, and 0.078 billion CNY, reflecting year-on-year growth rates of 46.94%, 23.50%, and a decline of 6.38%, respectively [3][12]. - The liquid cooling segment is expected to become a major growth driver, with significant demand anticipated from high-density scenarios in GPU servers and AI data centers [16]. Financial Metrics - The company’s financial metrics indicate a projected gross margin of 17.71%, 20.75%, and 22.37% for the years 2025, 2026, and 2027, respectively [13][22]. - The report highlights a stable control over expenses, with sales, management, and R&D expense ratios for H1 2025 at 1.77%, 6.85%, and 7.04%, respectively [2][3]. Market Position and Comparables - The report compares the company with peers such as Yingweike, Hongxin Technology, Shenglan Co., and Longli Technology, noting similarities in product applications and market segments [17]. - The average PS ratio of comparable companies is referenced to support the valuation of the company [17][19].

Core Viewpoint - The consumer electronics sector experienced a significant increase of 6.93% on September 11, with Yidong Electronics leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] - Yidong Electronics saw a closing price of 49.16, with a remarkable increase of 19.99% [1] - Other notable performers included Yingli Co., which rose by 10.57% to 21.44, and Industrial Fulian, which increased by 10.01% to 59.04 [1] Group 2: Trading Volume and Value - Yidong Electronics had a trading volume of 189,800 shares, resulting in a transaction value of 866 million [1] - Industrial Fulian recorded a trading volume of 2,722,800 shares, with a transaction value of 1.55 billion [1] - Luxshare Precision also had a significant trading volume of 2,842,100 shares, leading to a transaction value of 14.31 billion [1] Group 3: Capital Flow - The consumer electronics sector saw a net inflow of 3.865 billion from main funds, while retail funds experienced a net outflow of 1.264 billion [2][3] - Major stocks like Luxshare Precision had a net inflow of 2.459 billion from main funds, but a net outflow of 1.418 billion from retail funds [3] - Industrial Fulian also had a net inflow of 835 million from main funds, with a net outflow of 544 million from retail funds [3]

Market Overview - As of 14:00 today, the Shanghai Composite Index is at 3854.31 points, above the five-day moving average, with an increase of 1.10% [1] - The total trading volume of A-shares today is 1,959.917 billion yuan [1] Stocks Breaking the Five-Day Moving Average - A total of 956 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Jin Xin Nuo (金信诺) with a deviation rate of 14.80% and a price increase of 20.00% [2] - Fu Jie Huan Bao (复洁环保) with a deviation rate of 14.57% and a price increase of 19.99% [2] - Yi Dong Dian Zi (奕东电子) with a deviation rate of 14.28% and a price increase of 19.99% [2] - Other stocks with smaller deviation rates include An Ji Food (安井食品), Bai Ren Medical (佰仁医疗), and Pai Rui Shares (派瑞股份), which have just crossed the five-day moving average [1] ETF Information - The 500 Quality Growth ETF (product code: 560500) tracks the CSI 500 Quality Growth Index and has seen a five-day change of 0.89% [4] - The current price-to-earnings ratio is 17.77 times, with a recent share count of 410 million, showing a net outflow of 92,000 yuan in main funds [4]

Market Overview - On September 11, A-shares opened mixed with the Shanghai Composite Index up by 0.2%, Shenzhen Component Index up by 0.93%, and ChiNext Index up by 1.57% [2] - Sectors such as CPO, PCB, and pork showed significant gains [2] Liquid Cooling Server Sector - The liquid cooling server concept saw a continuous rise, with stocks like Yidong Electronics, Fangsheng Co., and Jiechuan Intelligent rising over 10% [3] - Notable performers included: - Fangsheng Co. at 39.76, up 15.25% - Jiechuan Intelligent at 30.84, up 15.16% - Yidong Electronics at 45.55, up 11.18% [4] Semiconductor Sector - The semiconductor sector experienced a rebound, with stocks like Saiwei Microelectronics hitting the daily limit and Haiguang Information rising over 10% [7] - Key stocks included: - Saiwei Microelectronics at 67.28, up 19.99% - Yuanjie Technology at 390.92, up 16.82% [8] - Other notable stocks included: - Haiguang Information at 205.22, up 11.51% - Dongxin Co. at 97.33, up 8.83% [9]

Group 1 - The liquid cooling server concept saw significant gains on September 11, with Industrial Fulian hitting the daily limit and reaching a historical high, with a total market value exceeding 1.17 trillion yuan [1] - Previously, Chunzhong Technology achieved three consecutive trading limits, while Yidong Electronics, Fangsheng Shares, and Jiechuan Intelligent all rose over 10% [1] - Other companies such as Shuguang Digital Innovation, Keshida, Runhe Materials, and Dayuan Pump Industry also experienced notable increases in their stock prices [1]