New Stock Issuance - New stock issuance for 联合动力 (code: 301656) at a price of 12.48 on September 15, 2025[1] - *ST天茂 (code: 000627) has a cash option declaration period from September 15 to September 19, 2025[1] - 紫天退 (code: 300280) has 14 trading days remaining until the last trading day during the delisting period[1] Market Alerts - 先导智能 (code: 300450) reported severe abnormal fluctuations[2] - 杭可科技 (code: 688006) and 新华锦 (code: 600735) have recent announcements regarding trading activities[1] - 退市整理期 for multiple stocks including *ST威尔 (code: 002058) and 新炬网络 (code: 605398) has been noted[1] Trading Insights - Significant trading activity observed in stocks like 工业富联 (code: 601138) and 景旺电子 (code: 603228) with recent announcements[1] - The report includes links to detailed announcements for various stocks, indicating ongoing market developments[1]

Group 1 - Several companies including "Industrial Fulian" (601138), "Jinyi Film" (002905), and "New Xiangwei" (688593) have experienced abnormal fluctuations, prompting investors to pay attention to the latest announcements from these listed companies [3] - The list of companies affected by abnormal fluctuations also includes "Huajian Group" (600629), "Roman Shares" (605289), and "Cambridge Technology" (603083), among others [3] - Investors are advised to monitor the situation closely and consider the associated investment risks [3]

Summary of Key Points Core Viewpoint - The financing balance of the ChiNext market has increased, indicating a positive trend in investor sentiment and market activity, with specific stocks showing significant growth in financing balance and price performance [1][2]. Financing Balance Overview - The latest financing balance for ChiNext stocks is 494.73 billion yuan, with a week-on-week increase of 2.25 billion yuan, marking six consecutive days of growth [1]. - Among the 436 stocks with increased financing balance, 30 stocks saw an increase of over 10%, with the largest increase recorded by Ding Tai Gao Ke at 1.78 million yuan, reflecting a 39.23% rise [1][3]. Stock Performance - The average increase for stocks with a financing balance growth of over 10% was 2.67%, with notable performers including Xiang Nong Xin Chuang, Jiang Bo Long, and Meng Gu Li, which rose by 14.45%, 13.83%, and 11.86% respectively [1][2]. - Conversely, stocks with a decrease in financing balance included Xian Dao Zhi Neng and Yi Zhi Mi, which fell by 8.86% and 5.54% respectively [1][4]. Capital Flow Analysis - On September 12, 19 stocks with increased financing balance experienced net inflows of main funds, with Xiang Nong Xin Chuang, De Fu Ke Ji, and Shen Xin Fu leading with net inflows of 239 million yuan, 207 million yuan, and 173 million yuan respectively [2]. - In contrast, 11 stocks saw net outflows, with Xian Dao Zhi Neng experiencing the highest outflow of 1.308 billion yuan [2]. Stocks with Significant Financing Balance Changes - Stocks with the largest increases in financing balance include: - Ding Tai Gao Ke: 1.78 million yuan, +39.23%, closing at 89.56 yuan, +4.81% [3]. - Hui Han Gu Fen: 3.1726 million yuan, +36.28%, closing at 137.81 yuan, +2.38% [3]. - Cai Na Gu Fen: 662.1 million yuan, +35.88%, closing at 24.92 yuan, +4.40% [3]. - Stocks with the largest decreases in financing balance include: - Rui Chen Huan Bao: 21.2792 million yuan, -29.13%, closing at 28.32 yuan, -0.91% [4]. - Wei Ke Ke Ji: 32.50216 million yuan, -19.73%, closing at 99.91 yuan, -1.86% [4]. - Yi Dong Dian Zi: 14.97625 million yuan, -16.37%, closing at 47.84 yuan, -2.69% [4].

Summary of PCB Drill Needle Industry Conference Call Industry Overview - The PCB drill needle market is experiencing rapid growth driven by increased demand from AI servers and consumer electronics, with global sales expected to exceed 1 billion units by 2025, reflecting an annual growth rate of 20%-30% [1][5][18]. - Key growth areas include high aspect ratio, tungsten carbide coatings, and ultra-small diameter tools, with laser drilling machines in high demand due to their advantages in processing micro blind holes [1][5]. Core Insights and Arguments - High-end PCB tool demand is driven by trends in AI servers, high-performance computing devices, and the miniaturization of consumer electronics [1][5]. - New materials like PDF1 are replacing traditional materials, raising the requirements for tool durability and strength, which may benefit advanced technologies like diamond coating from Japan [1][7]. - Japanese company Uryu holds a competitive edge in diamond coating, tungsten alloy, and ULF coating products, serving major clients like Pegatron and Unimicron [1][8]. - Domestic players like Ding Tai High-Tech and Jingzhou Precision are facing challenges in technology and material processing capabilities, particularly in comparison to Japanese standards [1][9]. Market Participants - The PCB drill needle market is dominated by four main players: Uryu (Japan), Jentech (Taiwan), Ding Tai High-Tech, and Jingzhou Precision (under ZTE) [3]. - Ding Tai High-Tech holds a 26.5% market share, with micro drills (under 0.2 mm) accounting for 21.12% and coating products for 30.91% [3]. Equipment and Technology - High-end PCB manufacturing equipment is in strict demand, particularly for Nvidia orders, which require multiple lamination cycles and precise processing of blind holes [4][22]. - Ding Tai High-Tech is expanding its capacity to meet growing demand and has established an AI team to develop micro drill products [4][40]. - The market is seeing a shift towards laser drilling technology, which is expected to dominate in high-density interconnect (HDI) applications [6][16]. Future Trends and Challenges - The demand for high-end tools will be influenced by the development of AI servers and the trend towards miniaturization in consumer electronics [7]. - The introduction of new electronic fabric materials, such as PTFE, is increasing the demand for durable drill tools, although these materials pose challenges for tool longevity [15]. - The market for diamond drill needles is projected to grow steadily by 10%-20%, driven by the increasing number of PCB layers, particularly in high-end applications [2][18]. Pricing and Market Dynamics - The market share for coated drills exceeds 60%, with diamond drills accounting for approximately 20%-30% [17]. - The price of diamond and coated drills can be 8-10 times higher than traditional types, reflecting the complexity of processing and material costs [17]. - Current high-end equipment prices have not seen significant increases, with minor adjustments of around 5% due to rising material and processing costs [26]. Conclusion - The PCB drill needle industry is poised for significant growth, driven by technological advancements and increasing demand from high-performance applications. Companies must navigate challenges related to material processing and technological gaps to maintain competitiveness in this evolving market.

证券日报网讯 9月12日晚间，鼎泰高科发布公告称，公司股票于2025年9月10日、9月11日、9月12日连 续三个交易日收盘价格涨幅偏离值累计达到31.92%（超过30%），属于股票异常波动的情形。经核实， 公司前期披露的信息不存在需要更正、补充之处；公司未发现近期公共传媒报道了可能或已经对本公司 股票交易价格产生较大影响的未公开重大信息；近期公司经营情况及内外部经营环境未发生重大变化。 （编辑 任世碧） ...

Investment Rating - The report maintains a "Positive" investment rating for the mechanical equipment industry [6]. Core Insights - The mechanical equipment industry experienced a year-on-year revenue growth of 7.64% in Q2 2025, with a narrowing growth rate compared to the previous quarter. Key segments with accelerated revenue growth include wind power equipment, PCB(A), shipbuilding, lithium battery equipment, and instruments [13][18]. - The industry saw a year-on-year increase in net profit excluding non-recurring items of 16.22% in Q2 2025, with wind power and lithium battery equipment showing accelerated growth. The shipbuilding sector led with a 106% year-on-year increase, although this was affected by a low base [18][31]. - The overall profitability of the mechanical equipment industry strengthened in Q2 2025, with notable performance in the shipbuilding, railway equipment, and oil and gas equipment sectors [31]. Summary by Sections Overall Mechanical Equipment Overview - The mechanical equipment industry reported a year-on-year revenue growth of 7.64% in Q2 2025, with revenue growth accelerating in specific segments [13]. - The net profit excluding non-recurring items grew by 16.22% year-on-year, with wind power and lithium battery equipment leading the growth [18]. - The industry’s net profit margin increased by 0.38 percentage points year-on-year in Q2 2025, indicating improved profitability across various segments [25]. Subsector Performance - The engineering machinery sector saw a revenue increase of 8.7% in H1 2025, driven by strong overseas sales and diversified business contributions [44]. - Major companies in the engineering machinery sector, such as SANY Heavy Industry and XCMG, reported significant revenue growth, with SANY achieving a 15% increase year-on-year in H1 2025 [41][44]. - The overall net profit for the engineering machinery sector reached 161 billion yuan in H1 2025, reflecting a 25.1% year-on-year increase, with profit growth outpacing revenue growth [45].

格隆汇9月12日｜鼎泰高科公告，股票于2025年9月10日、9月11日、9月12日连续三个交易日收盘价格涨 幅偏离值累计达到31.92%（超过30%），根据深圳证券交易所相关规定，属于股票交易异常波动情形。 经核实，近期公司经营情况及内外部经营环境未发生重大变化。公司、控股股东和实际控制人不存在关 于本公司的应披露而未披露的重大事项，或处于筹划阶段的重大事项。公司控股股东、实际控制人在股 票异动期间不存在买卖公司股票的行为。 ...

Core Viewpoint - The stock of Ding Tai Gao Ke experienced an abnormal trading fluctuation, with a cumulative price increase of 31.92% over three consecutive trading days from September 10 to September 12, 2025 [1] Company Information - The company confirmed that there are no corrections or supplements needed for previously disclosed information [1] - No significant changes in the company's operational situation or external business environment have been identified recently [1] - The company, its controlling shareholders, and actual controllers have not engaged in any undisclosed significant matters related to the company [1] Trading Activity - During the period of stock price fluctuation, the controlling shareholders and actual controllers did not buy or sell the company's stock [1] - The company has not violated any regulations regarding fair information disclosure [1] Investor Advisory - The company advises investors to be cautious of investment risks and suggests monitoring official designated information disclosure media for the latest updates [1]

广东鼎泰高科技术股份有限公司 股票交易异常波动公告 证券代码：301377 证券简称：鼎泰高科 公告编号：2025-045 一、股票交易异常波动情况 广东鼎泰高科技术股份有限公司（以下简称"公司"）股票于 2025 年 9 月 10 日、9 月 11 日、9 月 12 日连续三个交易日收盘价格涨幅偏离值累计达到 31.92% （超过 30%），根据深圳证券交易所相关规定，属于股票异常波动的情形。 二、公司关注并核实情况的说明 针对公司股票异常波动，公司对有关事项进行了核查，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； 2、公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息； 3、近期公司经营情况及内外部经营环境未发生重大变化； 4、经核查，公司、控股股东和实际控制人不存在关于本公司的应披露而未 披露的重大事项，或处于筹划阶段的重大事项； 5、经核查，公司控股股东、实际控制人在股票异动期间不存在买卖公司股 票的行为； 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。 四、风险提示 1、公司不存在违反公平 ...

Group 1 - The core viewpoint of the news is that 鼎泰高科 (Ding Tai High-Tech) has seen a significant increase in its stock price, rising by 5.13% to 89.83 CNY per share, with a trading volume of 611 million CNY and a turnover rate of 9.86%, resulting in a total market capitalization of 36.83 billion CNY [1] - 鼎泰高科 is a high-tech enterprise established on August 8, 2013, and listed on November 22, 2022, located in Dongguan, Guangdong Province. The company specializes in providing integrated solutions for tools, materials, and equipment in the PCB and CNC precision machining sectors, showcasing strong independent research and innovation capabilities [1] - The revenue composition of 鼎泰高科'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 supplementary products (1.17%) [1] Group 2 - From the perspective of the top ten circulating shareholders, 南方中证1000ETF (Southern CSI 1000 ETF) has entered the top ten shareholders, holding 569,500 shares, which accounts for 0.8% of the circulating shares. The estimated floating profit for today is approximately 2.49 million CNY [2] - 南方中证1000ETF was established on September 29, 2016, with a latest scale of 64.95 billion CNY. Year-to-date, it has achieved a return of 25.52%, ranking 1878 out of 4222 in its category, and a one-year return of 66.59%, ranking 1276 out of 3800 [2]