Core Viewpoint - The announcement reveals that the controlling shareholder of Qiangrui Technology has terminated its share reduction plan ahead of schedule, having reduced its holdings by a total of 3,024,920 shares, which is 2.92% of the company's total share capital [1][3][4]. Summary by Sections Share Reduction Plan - Qiangrui Technology's controlling shareholder, Shenzhen Qiangrui Investment Holdings Co., Ltd., and its concerted party, Tai'an Qiangrui Venture Capital Partnership, planned to reduce their holdings by up to 3,102,825 shares from July 21, 2025, to October 20, 2025 [1]. - The reduction was executed through both centralized bidding and block trading methods [1]. Execution of Share Reduction - From July 21 to July 22, 2025, the shareholders reduced their holdings by 1,107,300 shares, decreasing their ownership from 57.71% to 56.64% [2]. - On July 23, 2025, an additional 105,366 shares were sold, further reducing the ownership to 55.62% [2]. - Between July 24 and August 1, 2025, 637,960 shares were sold, bringing the ownership down to 55.00% [2]. Details of Share Reduction - The breakdown of the share reduction includes: - 2,000,000 shares sold via block trading at an average price of 40.79 yuan per share [3][4]. - 491,000 shares sold through centralized bidding at an average price of 65.12 yuan per share [3][4]. - 533,920 shares sold by Qiangrui Investment through centralized bidding at an average price of 54.05 yuan per share [3][4]. - The total cash generated from the share reduction is approximately 142,412,296 yuan [4]. Shareholding Structure Post-Reduction - Before the reduction, Qiangrui Holdings held 39,823,735 shares (38.5% of total shares) [5]. - After the reduction, Qiangrui Holdings' shares decreased to 37,332,735 (36.09% of total shares) [5]. - Other shareholders, including Yin Gaobin and Liu Gang, maintained their respective ownership percentages post-reduction [5]. - The reduction does not affect the control structure of the company, ensuring no change in governance or ongoing operations [5].

深圳市强瑞精密技术股份有限公司（以下简称"公司"）于 2025 年 8 月 14 日 签署了《深圳卓源达瑞人工智能创业投资合伙企业（有限合伙）之合伙协议》， 参与投资深圳卓源达瑞人工智能创业投资合伙企业（有限合伙）（以下简称"本 基金"）基金份额。根据合伙协议，合伙企业预计认缴出资总额为人民币 8,701 万元（币种下同），公司作为有限合伙人以自有资金预计认缴出资 800 万元入伙， 占合伙企业认缴出资总额的 9.19435%。具体内容详见公司于 2025 年 8 月 14 日 在巨潮资讯网（http://www.cninfo.com.cn）披露《关于与专业投资机构共同投资 合伙企业的公告》（公告编号：2025-061）。 二、进展情况 近日，公司收到深圳卓源达瑞人工智能创业投资合伙企业（有限合伙）通知， 本基金已在中国证券投资基金业协会完成私募投资基金备案手续，并取得《私募 投资基金备案证明》，备案信息如下： 1、基金名称：深圳卓源达瑞人工智能创业投资合伙企业（有限合伙） 5、备案日期：2025 年 08 月 28 日 三、本次投资的风险 证券代码：301128 证券简称：强瑞技术 公告编号：2025-07 ...

证券代码：301128 证券简称：强瑞技术 公告编号：2025-071 深圳市强瑞精密技术股份有限公司 关于公司控股股东及其一致行动人提前终止减持股份计划的公告 股东深圳市强瑞投资控股有限公司、泰安市强瑞创业投资合伙企业（有限 合伙）及其一致行动人尹高斌先生和刘刚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。 深圳市强瑞精密技术股份有限公司（以下简称"公司"）于 2025 年 6 月 27 日 在巨潮资讯网（http://www.cninfo.com.cn）披露了《关于控股股东及其一致行动 人减持股份的预披露公告》（公告编号：2025-057）：控股股东深圳市强瑞投资 控股有限公司（以下简称"强瑞控股"）及其一致行动人泰安市强瑞创业投资合伙 企业（有限合伙）（以下简称"强瑞投资"）计划在 2025 年 7 月 21 日至 2025 年 10 月 20 日期间，以集中竞价方式及大宗交易方式合计减持本公司股份不超过 3,102,825 股（占本公司总股本比例 3.00%）。 2025 年 7 月 21 日 ...

Investment Rating - The report maintains a "Hold" rating for the company, with a target price of 110 CNY for 2026, based on a projected PE of 40x [3][12][14]. Core Insights - The company reported a significant revenue increase of 74.64% year-on-year, reaching 840 million CNY in H1 2025, with a net profit of 55 million CNY, up 15.57% year-on-year [2][7]. - The smart automotive sector showed remarkable growth, with revenues of 187 million CNY, a 203% increase year-on-year, driven by the rising demand for smart system control modules [2][8]. - The cooling solutions business also contributed positively, generating 135 million CNY in revenue, a 53% increase, primarily serving the communication, AI server, and semiconductor industries [2][9]. - The mobile terminal business saw a revenue increase of 47% year-on-year, reaching 406 million CNY, supported by innovations in AI and battery technology [2][10]. - The brushless motor segment generated 43 million CNY in revenue, benefiting from the integration of AI and 3D vision technologies [2][11]. Summary by Sections Financial Performance - In H1 2025, the company achieved a gross margin of 23.21% and a net margin of 8.43%. In Q2 2025, revenue was 523 million CNY, with a gross margin of 23.43% and a net margin of 10.33% [2][7]. - The forecast for net profit is 188 million CNY for 2025 and 284 million CNY for 2026, with corresponding PE ratios of 57x and 38x [3][12]. Business Segments - **Smart Automotive**: Revenue of 187 million CNY, driven by increased demand for smart system control modules [2][8]. - **Cooling Solutions**: Revenue of 135 million CNY, primarily from the communication and AI server sectors [2][9]. - **Mobile Terminals**: Revenue of 406 million CNY, supported by technological innovations and a focus on the Apple supply chain [2][10]. - **Brushless Motors**: Revenue of 43 million CNY, with growth attributed to advancements in AI and 3D vision technologies [2][11]. Valuation and Projections - The target price of 110 CNY is based on expected revenue growth exceeding 30% in 2026 and a recovery in gross margins above 25% [12][14].

Core Viewpoint - Strong瑞技术 (301128) reported a significant increase in revenue and net profit for the first half of 2025, but faced challenges with declining profit margins and cash flow issues [1][3]. Financial Performance - Total revenue reached 840 million yuan, a year-on-year increase of 74.64% [1] - Net profit attributable to shareholders was 54.91 million yuan, up 15.57% year-on-year [1] - The gross profit margin decreased to 23.21%, down 32.67% year-on-year [1] - The net profit margin fell to 8.43%, a decline of 34.67% year-on-year [1] - Earnings per share decreased to 0.53 yuan, down 17.45% year-on-year [1] Accounts Receivable and Cash Flow - Accounts receivable increased by 51.05% year-on-year, reaching 558 million yuan, indicating longer collection cycles [1][3] - Operating cash flow per share was -0.35 yuan, a significant decline of 162.93% year-on-year [1] - The net increase in cash and cash equivalents dropped by 306.17%, attributed to increased operational funding needs [6] Cost and Expenses - Total sales, management, and financial expenses amounted to 48.64 million yuan, accounting for 5.79% of revenue, a decrease of 28.21% year-on-year [1] - Operating costs surged by 104.65%, driven by efforts to expand market share and increased production costs [5] Investment and Financing - Short-term borrowings increased by 198.75%, reflecting the need for additional liquidity due to rising sales orders [4] - Long-term borrowings were primarily used for external investments and operational funding [4] Business Model and Market Position - The company relies heavily on research and development to drive its performance [8] - The return on invested capital (ROIC) was 12.05%, indicating strong capital returns, although historical averages show variability [7] Recommendations for Monitoring - Attention is advised on cash flow status, with a cash to current liabilities ratio of 86.57% [9] - The accounts receivable to profit ratio reached 572.41%, indicating potential collection issues [9]

Core Insights - Strong瑞 Technology (301128.SZ) reported a total operating revenue of 840 million yuan for the first half of 2025, marking an increase of 359 million yuan compared to the same period last year, achieving a 5-year consecutive growth with a year-on-year increase of 74.64% [1] - The net profit attributable to shareholders reached 54.91 million yuan, an increase of 7.40 million yuan from the same period last year, achieving a 4-year consecutive growth with a year-on-year increase of 15.57% [1] - The company reported a net cash outflow from operating activities of 36.47 million yuan [1] Financial Metrics - The latest debt-to-asset ratio stands at 56.37% [3] - The latest gross profit margin is 23.21%, an increase of 0.36 percentage points from the previous quarter [3] - The latest return on equity (ROE) is 6.62%, an increase of 0.84 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.53 yuan [3] - The total asset turnover ratio is 0.46 times, an increase of 0.08 times year-on-year, achieving a 3-year consecutive growth with a year-on-year increase of 21.08% [3] - The inventory turnover ratio is 1.56 times [3] Shareholder Structure - The number of shareholders is 12,900, with the top ten shareholders holding a total of 66.17 million shares, accounting for 63.97% of the total share capital [3] - The largest shareholder is Shenzhen Strong瑞 Investment Holding Co., Ltd., holding 38.51% [3] - Other notable shareholders include Yin Gaobin (8.93%), Liu Gang (7.12%), and Shen Juezhong (3.56%) [3]

Group 1 - Strong瑞技术's stock price increased by 20.00% on August 25, with a trading volume of 1.619 billion yuan [1] - The company had a financing buy-in amount of 206 million yuan and a financing repayment of 174 million yuan on the same day, resulting in a net financing buy of 32.0589 million yuan [1] - As of August 25, the total balance of margin trading for Strong瑞技术 was 498 million yuan, accounting for 4.08% of its circulating market value, which is above the 90th percentile level over the past year [1] Group 2 - As of July 18, the number of shareholders for Strong瑞技术 was 12,900, a decrease of 0.33% from the previous period, while the average circulating shares per person increased by 0.33% to 6,865 shares [2] - For the first half of 2025, Strong瑞技术 achieved an operating income of 840 million yuan, representing a year-on-year growth of 74.64%, and a net profit attributable to shareholders of 54.9069 million yuan, up 15.57% year-on-year [2] Group 3 - Since its A-share listing, Strong瑞技术 has distributed a total of 170 million yuan in dividends, with 133 million yuan distributed over the past three years [3]

Market Performance - A-share market experienced significant trading volume, with total turnover reaching 31,770 billion yuan, marking a new high for the year and the second highest in history [1][3] - Major indices such as the Shanghai Composite Index approached 3,900 points, with the Shanghai index closing at 3,883.56 points, up 1.51%, and the ChiNext Index rising by 3% [2][3] Trading Activity - Over 3,300 stocks in the market saw an increase, with five stocks exceeding 20 billion yuan in trading volume, including Dongfang Caifu, Hanwujing-U, and Beifang Rare Earth [3] - Notable sectors included digital currency, consumer goods, and liquor, with several stocks hitting their daily limit [2][3] Investor Sentiment - There has been a notable increase in new A-share accounts, with 1.9636 million new accounts opened in July, a 71% increase year-on-year [4] - International funds are increasingly entering the Chinese market, with significant growth in Korean retail investors' holdings in Chinese stocks [4] Market Outlook - Analysts suggest that the current market rally is primarily driven by institutional investors rather than retail investors, indicating a more strategic approach to investment [5] - The market sentiment remains positive, with expectations of continued upward movement, although caution is advised regarding potential overheating [7]

智通财经APP讯，强瑞技术(301128.SZ)发布2025年半年度报告，该公司营业收入为8.4亿元，同比增长 74.64%。归属于上市公司股东的净利润为5490.69万元，同比增长15.57%。归属于上市公司股东的扣除 非经常性损益的净利润为5191.85万元，同比增长17.76%。基本每股收益为0.5308元。 ...

Core Viewpoint - Strong瑞 Technology reported significant growth in its 2025 semi-annual report, indicating a robust performance in revenue and net profit [1] Financial Performance - The company achieved an operating income of 840 million yuan, representing a year-on-year increase of 74.64% [1] - The net profit attributable to shareholders of the listed company was 54.91 million yuan, showing a year-on-year growth of 15.57% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 51.92 million yuan, with a year-on-year increase of 17.76% [1] - The basic earnings per share were reported at 0.5308 yuan [1]