Group 1 - The core point of the article is that Guanshang Technology announced a significant stock price fluctuation, with a cumulative increase of over 30% in closing prices over three consecutive trading days [2] - The company confirmed that there are no corrections or supplements needed for previously disclosed information [2] - The operational situation of the company remains normal, and there have been no significant changes in the internal or external business environment [2] Group 2 - The company has not identified any recent media reports that could have significantly impacted its stock trading price [2]

Core Viewpoint - Guanshang Technology has not seen significant revenue growth since its listing, with Q3 revenue falling short of 100 million yuan. The company's ongoing weak performance raises questions about its ability to restructure and avoid delisting under new regulations, especially given the modest revenue scale and volatility of the acquisition target [1][3][12]. Group 1: Company Performance - Since its listing in December 2021, Guanshang Technology's revenue has consistently remained below 300 million yuan, with a significant drop in profitability reported in Q3. The company's revenue for the first three quarters was 65.36 million yuan, a year-on-year increase of 4.86%, while the net profit attributable to shareholders was 763,000 yuan, down 86.14% year-on-year [3][14]. - The company's financial performance indicates a lack of strong revenue generation capability, as evidenced by its fluctuating net profit, which has hovered around the breakeven point [3][14]. Group 2: Acquisition Details - Guanshang Technology plans to acquire 100% of Liao Jing Electronics through a combination of issuing shares and cash payments, while also raising supporting funds from no more than 35 specific investors. This transaction constitutes a major asset restructuring [1][12][19]. - The acquisition target, Liao Jing Electronics, has reported revenues of 147 million yuan, 114 million yuan, and 132 million yuan for the years 2023 to 2025 Q3, with net profits of 54.90 million yuan, 25.51 million yuan, and 40.57 million yuan respectively. Although the revenue scale is relatively small, it exceeds 100 million yuan, which may help mitigate delisting risks for Guanshang Technology [5][16]. Group 3: Industry Context - The military semiconductor industry in China is experiencing significant growth, supported by national strategies for domestic substitution and improvements in industry certification systems. However, the sector is also facing increasing competition from new entrants, intensifying market dynamics, and a trend towards homogenization in the mid-to-low end market [7][18]. - If the acquisition target fails to keep pace with market trends and maintain a competitive edge in core supporting areas, it may face challenges in an increasingly competitive environment [7][18]. Group 4: Strategic Intent - The acquisition aims to create a synergy between software and hardware technologies, enhancing the overall quality of Guanshang Technology. The company has established a strong technical foundation in areas such as AI-enabled systems and digital twin technology, which will complement the hardware advantages of the acquisition target [10][20]. - The integration of Liao Jing Electronics' semiconductor expertise with Guanshang Technology's existing capabilities is expected to improve product reliability and operational stability, thereby enhancing the company's competitive position in the defense information sector [21].

Core Viewpoint - The stock of Guanshang Technology has experienced an abnormal trading fluctuation, with a cumulative price increase of over 30% across three consecutive trading days (January 7, 8, and 9, 2026) [1] Summary by Relevant Sections - **Stock Trading Fluctuation** The company’s stock price has deviated significantly, leading to a classification of abnormal trading activity as per Shenzhen Stock Exchange regulations [1] - **Verification of Information** The company has confirmed that there are no corrections or supplements needed for previously disclosed information, and the recent operational conditions remain normal without significant changes in the internal or external business environment [1] - **Media Reports and Information Disclosure** There have been no recent media reports that could have significantly impacted the company's stock price, and the company, along with its controlling shareholders and actual controllers, has not engaged in any undisclosed significant matters during the abnormal trading period [1] - **Board Confirmation** The board of directors has verified that there are no undisclosed matters that could materially affect the company's stock and its derivatives trading prices [1]

证券代码：301213 证券简称：观想科技 公告编号：2026-006 四川观想科技股份有限公司 股票交易异常波动公告 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、股票交易异常波动情况 四川观想科技股份有限公司（以下简称"公司"）股票交易连续 3个交易日（2026年1月7日、1月8日、1月9日）收盘价格涨幅偏离值 累计超过30%。根据《深圳证券交易所交易规则》的相关规定，属于 股票交易异常波动的情况。 二、公司关注及核实情况 针对公司股票交易异常波动，公司董事会通过电话和书面问询的 方式向公司控股股东、实际控制人进行了核实，现将有关情况说明如 下： 1、公司前期披露的信息不存在需要更正、补充之处； 4、公司和控股股东、实际控制人不存在关于公司的应披露而未 披露的重大事项，也不存在处于筹划阶段的重大事项； 5、公司控股股东和实际控制人在公司股票交易异常波动期间未 买卖本公司股票； 6、公司不存在违反信息公平披露的其他情形。 三、关于公司不存在应披露而未披露信息的说明 2、近期公司经营情况正常，内外部经营环境未发生重大变化； 3、公司未发现近期公共传媒报道 ...

Core Viewpoint - The military electronics sector experienced a significant increase of 3.56% on January 9, with Shanghai Hanxun leading the gains, while the overall Shanghai Composite Index rose by 0.92% and the Shenzhen Component Index increased by 1.15% [1]. Group 1: Stock Performance - Shanghai Chaoxun (300762) closed at 51.00, up 15.23% with a trading volume of 1.6251 million shares and a transaction value of 7.894 billion [1]. - New Light Optoelectronics (688011) closed at 70.50, up 15.20% with a trading volume of 92,500 shares and a transaction value of 607 million [1]. - Guanshang Technology (301213) closed at 94.95, up 13.04% with a trading volume of 109,100 shares and a transaction value of 963 million [1]. - Yuanbo Electronics (688375) closed at 129.99, up 12.91% with a trading volume of 167,900 shares and a transaction value of 2.09 billion [1]. - New Jingang (300629) closed at 28.80, up 8.80% with a trading volume of 658,100 shares and a transaction value of 1.798 billion [1]. Group 2: Capital Flow - The military electronics sector saw a net outflow of 2.585 billion from institutional investors, while retail investors contributed a net inflow of 2.395 billion [2][3]. - The top stocks by net inflow from retail investors included Torch Electronics (603678) with 89.01 million and Huali Chuangtong (300045) with 116 million [3]. - Institutional investors showed a significant net inflow in stocks like AVIC Chengfei (302132) with 256 million, while experiencing outflows in others like Torch Electronics [3].

Core Viewpoint - Guanshang Technology (301213.SZ) is initiating a restructuring plan to acquire 100% of Jinzhou Liaojing Electronic Technology Co., Ltd. to improve its declining business performance and expand into the semiconductor sector [1][2][4]. Group 1: Restructuring Plan - The restructuring plan involves issuing shares and cash to purchase Liaojing Electronic, a military enterprise in the semiconductor field, aiming to enhance the company's industry chain layout and expand into the defense and military market [1][4]. - The acquisition price for Liaojing Electronic is set at 48.06 yuan per share, with the company also planning to raise funds from up to 35 specific investors to support the transaction and related projects [4][5]. Group 2: Financial Performance - Since its IPO in December 2021, Guanshang Technology has experienced a significant decline in profitability, with projected losses for 2023 and 2024. In the first three quarters of 2025, the company reported revenues of 65.36 million yuan and a net profit of 763,000 yuan, a sharp decline from previous years [2][7]. - Liaojing Electronic's performance has also been volatile, with revenues of 147 million yuan, 114 million yuan, and 132 million yuan from 2023 to the first nine months of 2025, and net profits of 54.91 million yuan, 25.51 million yuan, and 40.57 million yuan respectively [8]. Group 3: Market Reaction - Following the announcement of the restructuring plan, Guanshang Technology's stock price hit the daily limit, closing at 82.86 yuan per share, reflecting a 20% increase [3][5]. - The stock has seen an overall increase of over 60% in 2025 [5].

Core Viewpoint - The company, Guankang Technology, has resumed trading with a significant price increase following the announcement of a major asset restructuring plan to acquire 100% of Liao Jing Electronics, despite its own declining financial performance in recent years [1][2]. Group 1: Company Performance - Guankang Technology has reported consecutive losses in net profit for 2023 and 2024, with a significant decline of 86.14% in net profit for the first three quarters of 2025 compared to the previous year [1][2]. - The company's revenue figures for 2022, 2023, and 2024 were approximately 96.04 million, 102 million, and 152 million yuan, respectively, with corresponding net profits of about 17.62 million, -2.09 million, and -8.71 million yuan [2]. - As of the end of the first three quarters of 2025, Guankang Technology had cash reserves of 21.9 million yuan [3]. Group 2: Acquisition Details - The acquisition of Liao Jing Electronics is expected to enhance Guankang Technology's capabilities in high-reliability semiconductor devices and integrated circuits, thereby improving its ability to provide comprehensive solutions to military clients [2]. - Liao Jing Electronics has shown strong financial performance, with revenues of approximately 147 million, 114 million, and 132 million yuan for 2023, 2024, and the first nine months of 2025, respectively, and net profits of about 54.91 million, 25.51 million, and 40.57 million yuan [3]. - The controlling shareholder of Liao Jing Electronics, Su Zhou, holds 36.41% of the company's shares directly and an additional 3.11% indirectly through partnerships [3].

Group 1 - The military electronics sector increased by 1.43% on January 7, with Guankang Technology leading the gains [1] - The Shanghai Composite Index closed at 4085.77, up 0.05%, while the Shenzhen Component Index closed at 14030.56, up 0.06% [1] - Guankang Technology's stock price rose by 20.00% to 82.86, with a trading volume of 18,200 lots and a transaction value of 151 million [1] Group 2 - The military electronics sector experienced a net outflow of 5.765 billion from institutional investors, while retail investors saw a net inflow of 4.719 billion [2] - The top gainers in the military electronics sector included ST Sike Rui, which rose by 13.52% to 42.66, and Fuke Defense, which increased by 10.01% to 16.71 [1] - The trading volume and transaction values for various stocks in the sector showed significant activity, with Aerospace Development recording a transaction value of 17.949 billion [1][2] Group 3 - The net inflow from retail investors in Aerospace Development was 8.68 million, while institutional investors had a net outflow of 9.06 million [3] - The stock performance of various companies in the sector varied, with some experiencing significant declines, such as Huali Chuangtong, which fell by 7.04% to 28.27 [2] - The overall market sentiment in the military electronics sector appears mixed, with both gains and losses among different stocks [2][3]

Core Viewpoint - Guanshang Technology (301213.SZ) resumed trading today with a price increase of 20.00%, reaching 82.86 yuan, resulting in a total market capitalization of 6.629 billion yuan. The company disclosed a plan to acquire 100% of Liaojing Electronics through a combination of issuing shares and cash payment, which will make Liaojing a wholly-owned subsidiary of Guanshang Technology [1]. Group 1: Acquisition Details - The acquisition involves purchasing 100% of Liaojing Electronics from its controlling shareholder, Su Zhou, who is expected to repurchase 3.6311% of the company's shares from existing shareholders before the transaction is finalized [1]. - The specific number of shares to be issued and the cash payment amount will be determined based on the final transaction price, which will be disclosed in the restructuring report [2]. - The issuance price for the shares is set at 48.06 yuan per share, with the company planning to raise funds from no more than 35 specific investors, with the total amount not exceeding 100% of the transaction price [3]. Group 2: Financial Performance of Liaojing Electronics - Liaojing Electronics reported revenues of 147.24 million yuan, 114.18 million yuan, and 131.51 million yuan for the years 2023, 2024, and the first nine months of 2025, respectively. The net profits for the same periods were 54.91 million yuan, 25.51 million yuan, and 40.57 million yuan [5]. - As of September 30, 2025, Liaojing's total assets were 593.27 million yuan, with total liabilities of 117.79 million yuan and equity of 475.48 million yuan [6]. Group 3: Implications of the Transaction - The transaction is expected to constitute a related party transaction, as Su Zhou and his associates may hold more than 5% of the company's shares post-transaction, thus becoming related parties under the Shenzhen Stock Exchange rules [4]. - This acquisition is classified as a significant asset restructuring but does not constitute a reverse listing. Liaojing Electronics is a key supplier in the defense technology sector, specializing in semiconductor discrete devices and integrated circuits, with applications in aerospace, military, and nuclear physics [5].

中信建投指出，特斯拉正引领全球"物理AI"产业变革，人形机器人作为其核心支柱之一，与智能驾驶共 享FSD端到端大模型等技术底座，开启"数据-算法-硬件"闭环迭代。本周板块情绪持续回暖，催化一方 面来自特斯拉Optimus V3 Q1发布在即、Gen3量产规划明确，另一方面，产业节奏进入实质兑现期。中 信建投认为板块处于底部反弹阶段，市场持续博弈特斯拉2026年底百万台产线落地前景，预期上修有待 新催化或量产进展验证。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 300200 | 高豐新材 | | 20.03 | 62.75亿 | 24.34 | | 301213 | 观想科技 | + | 20.00 | 66.29亿 | 20.00 | | 301046 | 能輝科技 | | 12.87 | 46.63 乙 | 16.81 | | 300919 | 中伟股份 | + | 12.66 | 599亿 | 24.11 | | 920198 | 微创光电 | | 10.92 | 18.36 Z | 13. ...