Company Overview - Shenzhen Zhishang Technology Co., Ltd. was established on December 8, 2009, and went public on July 7, 2023. The company specializes in the research and manufacturing of precision electronic components, focusing on consumer electronics, communication electronics, and automotive electronics, particularly for gaming consoles, VR/AR devices, and professional audio equipment [2]. Financial Performance - For the period from January to June 2025, the company achieved a revenue of 516 million yuan, representing a year-on-year growth of 17.67%. The net profit attributable to shareholders was 182 million yuan, showing a significant increase of 353.86% compared to the previous year [2]. Shareholder Information - As of June 30, 2025, the number of shareholders reached 17,100, an increase of 0.49% from the previous period. The average number of circulating shares per shareholder was 4,246, which decreased by 2.20% [2]. Dividend Distribution - Since its A-share listing, the company has distributed a total of 102 million yuan in dividends [3]. Market Activity - On September 23, the company's stock price fell by 3.06%, with a trading volume of 566 million yuan. The margin trading data indicated a net margin buy of -13.24 million yuan for that day, with a total margin balance of 499 million yuan, accounting for 6.84% of the circulating market value [1]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited and Debon Xinxing Value A (001412) have exited the list of the top ten circulating shareholders [3].

Group 1 - The core viewpoint of the article highlights that Zhishang Technology has established a strong foothold in the precision manufacturing sector, initially focusing on Foxconn and later expanding its services to key clients such as Sony and Meta through the acquisition of Chunsheng Electronics [1] - The company has successfully positioned itself in the game console manufacturing sector, indicating a strategic move to cater to the growing demand in this market [1]

Group 1 - The company has deepened its precision manufacturing capabilities over the years, initially focusing on Foxconn and later acquiring Chunsheng Electronics, which has allowed it to serve key clients like Sony and Meta in the gaming console manufacturing sector [1] - The gaming console sales are cyclical, and the company's core clients have recently launched new products that are selling well, indicating that the company, as an upstream supplier, is expected to continue benefiting from ongoing new material introductions [1] - The optical communication business has experienced rapid growth since the company entered the fiber connector market in 2019 and became a qualified supplier for SENKO in 2020, now representing a significant growth driver for the company's performance [1] Group 2 - The company plans to acquire Shenzhen Hengyang Data Co., Ltd. through a combination of share issuance and cash payment, which focuses on intelligent computing and data processing solutions [2] - If the acquisition is completed, it will enhance the company's profitability and diversify its business structure, transitioning from a "data transmission" provider to a "light + computing" solution provider, thus meeting broader customer needs [2] Group 3 - Assuming the acquisition of Hengyang Data is completed by 2026, the company forecasts revenues of 1.012 billion, 1.813 billion, and 2.201 billion yuan for 2025-2027, with year-on-year growth rates of +3.84%, +79.20%, and +21.42% respectively [3] - The projected net profits for the same period are 223 million, 204 million, and 248 million yuan, with year-on-year changes of +230.75%, -8.27%, and +21.63% respectively [3] - The earnings per share (EPS) are expected to be 1.73, 1.59, and 1.93 yuan for 2025-2027, with the closing price on September 22, 2025, at 96.97 yuan, resulting in corresponding price-to-earnings (PE) ratios of 56.08x, 61.13x, and 50.28x [3]

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [4][6]. Core Views - The company has deepened its focus on precision manufacturing and has established a key position in the gaming console manufacturing sector by closely serving major clients like Sony and Meta. The sales of gaming consoles are cyclical, but with new products launched by core clients, the company is expected to benefit continuously as new materials are introduced [1]. - The optical communication business has seen rapid growth since the company entered the fiber connector market in 2019, becoming a qualified supplier for SENKO in 2020. This segment is anticipated to experience a surge in demand due to the acceleration of global computing infrastructure [2]. - The company plans to acquire Hengyang Data, which specializes in intelligent computing and data processing solutions. This acquisition aims to transition the company from a component supplier to a "light + computing" solution provider, thereby expanding its customer base [3]. Summary by Sections 1. Company Overview - The company has been deeply involved in precision manufacturing since its establishment in 2009 and has expanded its business into the optical communication and automation equipment sectors. It has established a solid foundation by collaborating with major clients like Foxconn and has diversified its product offerings [14][24]. 2. Gaming Console Components - The gaming console market is stable, with the Nintendo Switch2 experiencing strong sales. The company has been providing various precision components for major clients, including N Company and Sony, and is well-positioned to benefit from the sales of new generation gaming consoles [38][50][55]. 3. Optical Fiber Connectors - The company has developed a comprehensive range of optical fiber connector products and has established a strong partnership with SENKO. The demand for these products is expected to rise significantly due to the ongoing expansion of computing clusters and advancements in new technologies [63][79]. 4. Financial Forecast and Valuation - The company is projected to achieve revenues of 1.012 billion, 1.813 billion, and 2.201 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 3.84%, 79.20%, and 21.42%. The net profit attributable to shareholders is expected to be 223 million, 204 million, and 248 million yuan for the same years [4][9].

Group 1 - The company Shenzhen Zhishang Technology Co., Ltd. approved a joint investment and related transaction involving its wholly-owned subsidiary Hong Kong Chunsheng Industrial Co., Ltd. and Trend First Ltd. to invest in Ailingmei Technology Co., Ltd. [2][3] - Hong Kong Chunsheng and Trend First Ltd. will each invest RMB 7 million (approximately USD 972,222) to subscribe for 447,985 new shares of Ailingmei, representing 10% of the total share capital after the increase [2][3] - The investment agreement was modified to change the related party from "Hong Kong Deyi" to "Trend First Ltd." which is wholly owned by the company's director and deputy general manager Chen Hexian [3][4] Group 2 - Trend First Ltd. is registered in the British Virgin Islands with a registered capital of USD 1 and has not conducted any actual business operations [4] - The total number of shares issued by Ailingmei in this capital increase is 895,970 shares, with Hong Kong Chunsheng and Trend First Ltd. each subscribing for 447,985 shares [4] - Following the completion of the capital increase, Hong Kong Chunsheng holds 10% of Ailingmei's equity [4]

深圳市致尚科技股份有限公司 关于全资子公司与关联方共同投资暨关联交易的进展公告 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、误导性陈述或者重大遗漏。 一、对外投资暨关联交易概述 深圳市致尚科技股份有限公司（以下简称"公司"）于 2025 年 5 月 9 日召 开第三届董事会第六次会议和第三届监事会第五次会议分别审议通过《关于全资 子公司与关联方共同投资暨关联交易的议案》。公司的全资子公司香港春生实业 有限公司（以下简称"香港春生"）拟与香港大医科技有限公司（暂定名，以实 际注册登记为准，以下简称"香港大医"，投资协议丙方陈和先指定的主体）共 同投资爱柠美科技有限公司（以下简称"爱柠美"）（以下简称"本次交易"）。 其中，香港春生与香港大医拟分别以人民币 700.00 万元的价格（按 1 美元兑换 人民币 7.2 元汇率折算为 972,222 美元）认购爱柠美新增注册资本 447,985 美元 （即认购爱柠美新发行股份 447,985 股，占爱柠美增发后总股本的 10.0000%）， 认购价款中的 447,985 美元用于实缴新认购注册资本出资，认购价款超过认购新 增注册资本的部分 ...

证券代码：301486 证券简称：致尚科技 公告编号：2025-096 深圳市致尚科技股份有限公司 关于公司为全资子公司提供担保的进展公告 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、误导性陈述或者重大遗漏。 深圳市致尚科技股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日召 开第三届董事会第四次会议和第三届监事会第三次会议，分别审议通过了《关于 向银行申请授信额度的议案》，并于 2025 年 5 月 9 日召开的 2024 年度股东大会 审议通过该议案。公司及子公司拟向相关银行等金融机构申请总额不超过人民币 50,000 万元的综合授信额度，综合授信包括但不限于流动资金贷款、银行承兑汇 票、保函和商业银行等金融机构提供的其它融资方式，自公司股东大会审议通过 之日起一年有效。公司于 2025 年 7 月 31 日召开第三届董事会第九次会议和第三 届监事会第八次会议，审议通过了《关于公司为全资子公司提供担保的议案》， 同意公司为全资子公司香港春生实业有限公司（以下简称"香港春生"）向银行 申请融资业务提供总额不超过人民币 20,000 万元（或等值外币）的担保。 二 ...

五矿证券有限公司 关于深圳市致尚科技股份有限公司 2025年半年度持续督导跟踪报告 | 保荐人名称：五矿证券有限公司 | 被保荐公司简称：致尚科技 | | --- | --- | | 保荐代表人姓名：温波 | 联系电话：0755-23375555 | | 保荐代表人姓名：宋平 | 联系电话：0755-23375555 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的 | 0次 | | 次数 | | | 2．督导公司建立健全并有效执行规章制度 | | | 的情况 | | | （1）是否督导公司建立健全规章制度 （包括但不限于防止关联方占用公司资 | | | 源的制度、募集资金管理制度、内控制 | 是 | | 度、内部审计制度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月取得募集资金专户的对账单；每半年 | | | 对公司募集资金专户明细进行现场核查 ...

证券代码：301486 证券简称：致尚科技 公告编号：2025-095 深圳市致尚科技股份有限公司 关于使用部分闲置募集资金（含超募资金）进行现金管理 赎回并继续进行现金管理的进展公告 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、误导性陈述或者重大遗漏。 深圳市致尚科技股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日召 开第三届董事会第四次会议和第三届监事会第三次会议，并于 2025 年 5 月 9 日 召开 2024 年度股东大会，审议通过了《关于使用部分闲置募集资金（含超募资 金）进行现金管理的议案》，为提高公司资金使用效率，增加公司现金资产收益， 同意公司在不影响募集资金投资项目建设和公司正常运营的情况下，使用部分闲 置募集资金（含超募资金）不超过人民币 100,000 万元进行现金管理，使用期限 为自公司股东大会审议通过之日起十二个月内有效。在上述额度及决议有效期内， 资金可以循环滚动使用。 公司独立董事专门会议、保荐机构对上述事项均发表了明确同意的意见。具 体内容详见公司于 2025 年 4 月 18 日在巨潮资讯网（http://www.cninfo ...

Group 1 - The company has approved a total credit limit of up to RMB 50 million for its subsidiaries, which includes various financing methods such as loans and bank guarantees [1] - The company has provided a guarantee of up to RMB 20 million for its wholly-owned subsidiary, Hong Kong Chunsheng Industrial Co., Ltd., to support its financing needs [1][2] - The company signed a credit limit agreement with China Bank, which includes a loan limit of RMB 7 million and a guarantee limit of RMB 16 million [3][4] Group 2 - The total amount of guarantees provided by the company and its subsidiaries is RMB 16 million, which accounts for 6.44% of the company's audited equity attributable to shareholders for the year 2024 [5]