香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或 完整性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 Guangdong Dtech Technology Co., Ltd. 廣 東 鼎 泰 高 科 技 術 股 份 有 限 公 司 於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即 代表 閣下知悉、接納並向本公司、其聯席保薦人、聯席保薦人兼整體協調人、整體協調人、顧 問或包銷團成員表示同意： 本 公 司 招 股 章 程 根 據 香 港 法 例 第 32 章 公 司（ 清 盤 及 雜 項 條 文 ）條 例 與 香 港 公 司 註 冊 處 處 長 登 記 前 ， 本 公 司 不 會 向 香 港 公 眾 人 士 提 出 要 約 或 邀 請 。 倘 於 適 當 時 候 向 香 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Guangdong Dtech Technology Co., Ltd. 廣 東 鼎 泰 高 科 技 術 股 份 有 限 公 司 (a joint stock company incorporated in the People' ...

2025 年 11 月 30 日 总量研究 量能决定短期反弹高度 ——金融工程市场跟踪周报 20251130 本周（2025.11.24-2025.11.28，下同）A 股市场震荡反弹，创业板指领涨主要 宽基指数。量能表现方面，本周主要宽基指数量能逆势收缩，当前量能状态与市 场反弹表现不匹配，后续反弹力度或受量能压制收窄。资金面方面，本周融资增 加额转正，股票型 ETF 资金延续净流出，资金方面仍有分歧。 结合本周市场反弹高度、量能表现以及资金分歧状态，后市反弹力度或减弱，市 场再度进入震荡区间。中长线仍看好"红利+科技"主线，红利或在波动方面占 优。 本周上证综指上涨 1.40%，上证 50 上涨 0.47%，沪深 300 上涨 1.64%，中证 500 上涨 3.14%，中证 1000 上涨 3.77%，创业板指上涨 4.54%，北证 50 指数 上涨 0.75%。 截至 2025 年 11 月 28 日，宽基指数来看，上证指数和上证 50 指数处于估值分 位数"危险"等级，沪深 300、中证 500、中证 1000 和创业板指处于估值分位 数"适中"等级。 中信一级行业分类来看，煤炭、钢铁、建材、轻工制 ...

Core Insights - In the past five trading days, a total of 206 companies were investigated by institutions, with notable interest in companies like Luxshare Precision, Dingtai High-Tech, and Jerry Holdings [1][2] - Among the companies surveyed, 50 received attention from more than 20 institutions, with Luxshare Precision being the most popular, attracting 392 institutions [1] - The data indicates that 13 out of the 20 companies with significant institutional interest experienced net capital inflows, with Luxshare Precision seeing a net inflow of 683 million yuan [1][2] Group 1: Institutional Research Activity - A total of 206 companies were investigated by institutions from November 21 to November 27, with 87.38% of these companies being surveyed by securities firms [1] - The top three companies with the highest number of institutional surveys were Luxshare Precision (392 institutions), Dingtai High-Tech (239 institutions), and Jerry Holdings (184 institutions) [1][3] - The most frequently surveyed company was Haixia Co., which received four institutional surveys [1][3] Group 2: Market Performance of Surveyed Companies - Among the companies that were heavily surveyed, 22 saw an increase in stock prices, with the highest gains recorded by Siling Co. (27.24%) and Dongxin Co. (24.90%) [2][4] - Conversely, 27 companies experienced declines, with Yahua Group and Chuaneng Power showing the largest drops at 16.09% and 13.81%, respectively [2][4] - Only two companies among those surveyed released annual performance forecasts, both indicating profit increases, with Luxshare Precision projecting a net profit of 16.852 billion yuan, a year-on-year increase of 26.09% [2][4] Group 3: Detailed Company Insights - Luxshare Precision: 1 survey, 392 institutions, latest closing price 56.96 yuan, price change +2.17% [3] - Dingtai High-Tech: 1 survey, 239 institutions, latest closing price 101.59 yuan, price change -7.34% [3] - Jerry Holdings: 2 surveys, 184 institutions, latest closing price 51.30 yuan, price change -1.67% [3] - Dongxin Co.: 1 survey, 53 institutions, latest closing price 134.02 yuan, price change +24.90% [3][4] - Siling Co.: 2 surveys, 50 institutions, latest closing price 105.10 yuan, price change +27.24% [4]

Group 1 - The core viewpoint of the article is that Ding Tai Gao Ke (301377.SZ) primarily focuses on products used in the manufacturing of printed circuit boards (PCBs) [1]

Core Viewpoint - Ding Tai High-Tech Co., Ltd. has shown a significant stock price increase of 5.27%, reaching 108.28 CNY per share, with a trading volume of 460 million CNY and a turnover rate of 6.19%, resulting in a total market capitalization of 44.395 billion CNY [1] Company Overview - Ding Tai High-Tech Co., Ltd. is located in Dongguan, Guangdong Province, established on August 8, 2013, and listed on November 22, 2022. The company specializes in providing integrated solutions for tools, materials, and equipment in the PCB and CNC precision machinery sectors, recognized as a high-tech enterprise with independent research and innovation capabilities [1] - The revenue composition of the company's main business includes: cutting tools (82.55%), grinding and polishing materials (9.49%), functional film materials (3.95%), intelligent CNC equipment (2.80%), and other (1.17%) [1] Fund Holdings - According to data, one fund under China Europe Fund has a significant holding in Ding Tai High-Tech. The fund, China Europe CSI 1000 Index Enhanced A (017919), held 40,500 shares in the third quarter, accounting for 0.56% of the fund's net value, making it the largest holding. The estimated floating profit for today is approximately 219,500 CNY [2] - The China Europe CSI 1000 Index Enhanced A fund was established on March 2, 2023, with a current scale of 239 million CNY. Year-to-date returns are 27.1%, ranking 1533 out of 4206 in its category; the one-year return is 27.84%, ranking 1468 out of 3986; and since inception, the return is 24.86% [2] Fund Manager Information - The fund managers for China Europe CSI 1000 Index Enhanced A are Qian Yating and Song Ting. As of the report, Qian Yating has a tenure of 4 years and 25 days, managing a total fund size of 5.022 billion CNY, with the best return during the tenure being 58.73% and the worst being -14.61% [3] - Song Ting has a tenure of 279 days, managing a total fund size of 2.731 billion CNY, with the best return during the tenure being 26.69% and the worst being -0.32% [3]

Core Insights - In the past five trading days, a total of 239 companies were investigated by institutions, with significant interest in companies like Ding Tai Gao Ke, Nine Company, and Jing Chen Shares [1][2] - The majority of the investigations were conducted by securities companies, accounting for 90.38% of the total, followed by fund companies and private equity firms [1] - Among the companies investigated, 39 received attention from more than 20 institutions, with Ding Tai Gao Ke being the most scrutinized, attracting 239 institutions [1][2] Group 1: Institutional Research Activity - A total of 239 companies were investigated by institutions from November 18 to November 24 [1] - Securities companies conducted research on 216 companies, while fund companies and private equity firms investigated 150 and 80 companies, respectively [1] - Ding Tai Gao Ke received the highest number of institutional inquiries, with 239 institutions participating [1] Group 2: Financial Performance and Market Movement - In the past five days, six stocks among those investigated saw an increase in funds, with Jing Chen Shares receiving a net inflow of 449 million yuan [1][2] - The stocks that increased in value included Jing Chen Shares, which rose by 15.68%, and others like Hua Xi You Se and Si Ling Shares, which increased by 3.33% and 3.20%, respectively [2] - Conversely, 31 stocks experienced declines, with Ying Lian Shares, Rong Qi Ke Ji, and Hai You Xin Cai seeing the largest drops of 18.48%, 17.41%, and 14.83% [2] Group 3: Company-Specific Insights - Ding Tai Gao Ke's latest closing price was 100.50 yuan, with a decline of 8.30% [3] - Jing Chen Shares closed at 92.72 yuan, marking a significant increase of 15.68% [3] - Ying Lian Shares, on the other hand, closed at 17.11 yuan, reflecting a substantial decrease of 18.48% [3]

Core Viewpoint - The company, Ding Tai Gao Ke (301377), has reported a strong demand for its drill needle products, leading to high capacity utilization and tight delivery schedules for some products [1] Group 1: Company Performance - The company has sufficient orders for its drill needle products, indicating robust market demand [1] - Capacity utilization is high, suggesting efficient production processes and strong operational performance [1] - Some products are experiencing tight delivery schedules, highlighting the need for increased production capacity [1] Group 2: Future Plans - In response to changing demand, the company is accelerating the construction of its PCB micro drill needle production base [1] - The company plans to continuously and orderly expand production capacity based on market conditions to meet customer needs [1]

Financial Performance - The company achieved a total revenue of 553 million CNY in Q3 2025, representing a year-on-year growth of 32.94% [2] - The net profit attributable to shareholders was approximately 123 million CNY, with a year-on-year increase of 47.05% [2] - The net profit excluding non-recurring gains and losses was about 115 million CNY, reflecting a growth of 62.37% year-on-year [2] Factors Influencing Profit Growth - Significant profit increase is attributed to continuous optimization of product structure and internal efficiency improvements [3] Production and Capacity Expansion - The company has a strong order backlog for drill bits, with high capacity utilization and some products facing tight delivery schedules [4] - To meet demand fluctuations, the company is accelerating the construction of its PCB micro drill bit production base and plans to expand capacity in an orderly manner based on market conditions [4] - The maximum monthly production capacity of self-manufactured equipment is approximately 5 million drill bits [5] Raw Material Cost Management - The rising tungsten prices have a controllable direct impact on costs; the company is implementing multiple measures to mitigate this [6] - Strategies include technological innovation, process optimization, and maintaining stable long-term relationships with suppliers [6] Technological Adaptation - The company is closely monitoring technological trends in the industry and has made comprehensive technical arrangements to address potential risks from alternative materials [7] - It has developed a range of solutions for high-end PCB applications and is prepared to adapt based on market demands [7] Business Integration and Future Plans - The integration of the German subsidiary with MPK has been successfully completed, leading to efficient collaboration in technology, market, and management [8] - Future capacity planning will be based on market developments to enhance local production and service capabilities [8] Fundraising and Strategic Goals - The upcoming H-share issuance aims to raise funds for global capacity expansion, R&D in cutting-edge technologies, and digital operational systems [9] - The planned issuance will not exceed 10% of the total share capital post-issuance, with an additional 15% over-allotment option for underwriters [9] Performance Outlook - The company is optimistic about achieving its performance targets for the current year and aims for higher goals in 2026 [10]

Group 1 - The company is currently in the early stages of developing its robotics-related business and will disclose specific customer cooperation details once they meet the information disclosure standards [2] - The company's precision tools and intelligent equipment can serve key component processing in the robotics industry chain [2]