Core Viewpoint - Nova Star Cloud experienced a decline of 3.87% in stock price on September 18, with a trading volume of 246 million yuan, indicating potential market volatility and investor sentiment shifts [1]. Financing Summary - On September 18, Nova Star Cloud had a financing buy amount of 33.56 million yuan, with a net financing purchase of 6.18 million yuan after repayments [1]. - The total financing and securities balance reached 317 million yuan, with the financing balance accounting for 5.19% of the circulating market value, indicating a high level of leverage compared to the past year [1]. - The company had a securities lending balance of 77.79 thousand yuan, with a lending volume of 4,400 shares, also reflecting a high level compared to the past year [1]. Financial Performance - For the first half of 2025, Nova Star Cloud reported a revenue of 1.533 billion yuan, a year-on-year decrease of 1.93%, and a net profit attributable to shareholders of 294 million yuan, down 9.33% year-on-year [2]. - As of June 30, 2025, the number of shareholders decreased by 3.87% to 10,900, while the average circulating shares per person increased by 4.03% to 3,149 shares [2]. Dividend and Shareholding - Since its A-share listing, Nova Star Cloud has distributed a total of 627 million yuan in dividends [3]. - As of June 30, 2025, the top ten circulating shareholders saw a change, with Ruiyuan Growth Value Mixed A (007119) exiting the list [3].

Company Overview - Full Name: Xi'an Nova Star Cloud Technology Co., Ltd [1] - Abbreviation: Nova Star Cloud [1] - Stock Code: 301589.SZ [1] - IPO Application Date: December 27, 2021 [1] - Listing Date: February 8, 2024 [1] - Listing Board: Shenzhen ChiNext [1] - Industry: Computer, Communication, and Other Electronic Equipment Manufacturing [1] - IPO Sponsor: Minsheng Securities [1] - Lead Underwriters: Wang Bing, Tong Mu [1] - IPO Legal Advisor: King & Wood Mallesons [1] - IPO Audit Firm: Dahua Certified Public Accountants [1] IPO Performance - Listing Cycle: Nova Star Cloud's listing cycle is 773 days, exceeding the average of 629.45 days for A-share companies listed in 2024 [1] - Underwriting Fees: The underwriting and sponsorship fees amount to 94.717 million yuan, with a commission rate of 5.81%, lower than the average of 7.71% [1] - First Day Performance: The stock price increased by 202.62% on the first day of listing compared to the issue price [1] - Three-Month Performance: The stock price rose by 230.22% over the first three months post-listing compared to the issue price [1] - Issuance Price-Earnings Ratio: The issuance P/E ratio is 21.93 times, which is 73.05% of the industry average of 30.02 times [1] - Fundraising: Expected fundraising was 1.21 billion yuan, while actual fundraising reached 1.629 billion yuan, resulting in an oversubscription rate of 34.70% [1] Financial Performance - Revenue Growth: In 2024, the company's operating revenue increased by 7.38% year-on-year [1] - Net Profit Decline: The net profit attributable to the parent company decreased by 2.31% year-on-year [1] - Non-recurring Net Profit: The non-recurring net profit attributable to the parent company also decreased by 2.09% year-on-year [1] Additional Metrics - Abandonment Rate: The abandonment rate is 3.20% [1] - Overall Score: Nova Star Cloud's IPO project received a total score of 86, classified as Grade B [1] - Negative Factors: The negative factors affecting the score include the need for improved information disclosure quality, a listing cycle exceeding two years, a decline in net profit in the first accounting year post-listing, and an abandonment rate of 3.20% [1]

Company Overview - Full Name: Xi'an Nova Star Cloud Technology Co., Ltd [1] - Abbreviation: Nova Star Cloud [1] - Stock Code: 301589.SZ [1] - IPO Application Date: December 27, 2021 [1] - Listing Date: February 8, 2024 [1] - Listing Board: Shenzhen ChiNext [1] - Industry: Computer, Communication, and Other Electronic Equipment Manufacturing [1] - IPO Sponsor: Minsheng Securities [1] - Legal Advisor: Beijing King & Wood Mallesons [1] - Audit Firm: Dahua Certified Public Accountants [1] Performance Evaluation - Disclosure Issues: Required to clarify whether the actual controller has changed in the last two years and to disclose relevant customer and supplier overlaps [1] - Regulatory Penalties: No deductions [2] - Public Supervision: No deductions [2] - Listing Cycle: Nova Star Cloud's listing cycle is 773 days, exceeding the average of 629.45 days for 2024 A-share listings [3] - Multiple Applications: Not applicable, no deductions [3] - Issuance Costs: Underwriting and sponsorship fees amount to 94.717 million yuan, with a commission rate of 5.81%, lower than the average of 7.71% [4] - First Day Performance: Stock price increased by 202.62% on the first day of listing [4] - Three-Month Performance: Stock price increased by 230.22% compared to the issuance price [5] - Issuance Price-Earnings Ratio: The issuance P/E ratio is 21.93 times, which is 73.05% of the industry average of 30.02 times [6] - Actual Fundraising Ratio: Expected fundraising of 1.21 billion yuan, actual fundraising of 1.629 billion yuan, with an oversubscription ratio of 34.70% [7] - Short-term Performance Post-Listing: Revenue increased by 7.38% year-on-year, while net profit decreased by 2.31% year-on-year [8] - Abandonment Rate: Abandonment rate is 3.20% [9] Overall Score - Total Score: Nova Star Cloud's IPO project scored 86 points, classified as Grade B [9] - Negative Factors: Disclosure quality needs improvement, listing cycle exceeds two years, net profit decline in the first accounting year, and abandonment rate of 3.20% [9]

Group 1 - Nova Star Cloud's stock price decreased by 0.29% on September 12, with a trading volume of 242 million yuan [1] - The financing buy-in amount for Nova Star Cloud on the same day was 48.26 million yuan, while the financing repayment was 27.77 million yuan, resulting in a net financing buy-in of 20.48 million yuan [1] - As of September 12, the total balance of margin trading for Nova Star Cloud was 330 million yuan, with a financing balance of 329 million yuan, accounting for 5.37% of the circulating market value [1] Group 2 - As of June 30, the number of shareholders for Nova Star Cloud was 10,900, a decrease of 3.87% from the previous period [2] - For the first half of 2025, Nova Star Cloud reported operating revenue of 1.533 billion yuan, a year-on-year decrease of 1.93%, and a net profit attributable to shareholders of 294 million yuan, down 9.33% year-on-year [2] - Since its A-share listing, Nova Star Cloud has distributed a total of 627 million yuan in dividends [3]

Group 1 - Nova Star Cloud (SZ 301589) announced that on September 12, 2025, it will accept investor research from GF Fund and others, with participation from Chairman and General Manager Yuan Shengchun and CFO Zhang Zheng [1] - For the year 2024, Nova Star Cloud's revenue composition is 100.0% from the video image display control industry [1] - As of the report date, Nova Star Cloud has a market capitalization of 16.4 billion yuan [1]

Group 1: LED Display Industry Outlook - The global LED display market is projected to reach $7.971 billion by 2025 and $10.236 billion by 2028, with a CAGR of 7% from 2023 to 2028 [3] - Mini LED is identified as a new growth point, with a forecasted market size of $3.3 billion by 2028 and a CAGR of approximately 40% from 2024 to 2028 [3] - The company has strategically positioned itself in the MLED sector, collaborating closely with key clients to develop core detection equipment and integrated circuits [3] Group 2: Ultra HD Video Industry Trends - The ultra HD video industry is transitioning from 2K to 4K, with 8K just beginning and significant growth potential towards 16K resolution [4] - The Chinese ultra HD video industry is expected to exceed 7 trillion yuan by 2025, driven by collaborative efforts among government and industry stakeholders [4] - Future applications of ultra HD technology will integrate with AI, high-performance computing, and VR/AR across various sectors [4] Group 3: Smart City Collaborations - The company's products are applicable in various fields, including smart cities, with ongoing collaboration projects [5] - Continuous monitoring of smart city industry developments is planned to identify suitable partnership opportunities [5] Group 4: Sales Strategy - The company employs a sales strategy that primarily focuses on direct sales, supplemented by distributors [6] - Different cooperation strategies are implemented based on customer needs and technical understanding [6] - Strategic partnerships are formed with strong and trustworthy distributors to enhance market position [6]

Core Viewpoint - Nova Star Cloud (301589.SZ) has indicated that its products are widely applicable in various fields such as performing arts stages, exhibitions, celebrations, and creative displays, but it has not yet served the drone performance sector [1] Group 1 - The company’s products are utilized in performing arts stages [1] - The company’s products are utilized in exhibitions and displays [1] - The company’s products are utilized in celebration activities [1] Group 2 - The company’s products are utilized in creative display applications [1] - The company has not yet entered the drone performance market [1]

格隆汇9月12日丨诺瓦星云(301589.SZ)在互动平台表示，公司产品可广泛应用于演艺舞台、展览展示、 庆典活动、创意显示等领域，目前暂未服务过无人机表演领域。 ...

| 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-09-11 | 3.10亿 | 209.71万 | 0.68% | | 2025-09-10 | 3.07亿 | 222.14万 | 7.79% | | 2025-09-09 | 2.85亿 | 580.99万 | 2.08% | | 2025-09-08 | 2.79亿 | -377.91万 | -1.33% | | 2025-09-05 | 2.83亿 | -464.89万 | -1.62% | 小知识 证券之星消息，9月11日，诺瓦星云（301589）融资买入2054.26万元，融资偿还1844.01万元，融资净买 入210.24万元，融资余额3.09亿元，近3个交易日已连续净买入累计3006.12万元，近20个交易日中有13 个交易日出现融资净买入。 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-09-11 | 210.24万 | 3.09亿 | 5.03% | | 202 ...

Core Points - Nova Star Cloud's stock price decreased by 0.60% on September 11, with a trading volume of 176 million yuan [1] - The company reported a financing buy-in amount of 20.54 million yuan and a net financing buy of 2.10 million yuan on the same day [1] - As of September 11, the total financing and securities lending balance for Nova Star Cloud was 310 million yuan, with a financing balance of 309 million yuan, representing 5.03% of the circulating market value [1] Financing Summary - On September 11, Nova Star Cloud had a financing buy-in of 20.54 million yuan, with a financing balance of 309 million yuan, which is above the 90th percentile level for the past year [1] - The company had no securities lending transactions on September 11, with a securities lending balance of 891,000 yuan and a remaining quantity of 5,000 shares, also above the 90th percentile level for the past year [1] Business Performance - As of June 30, the number of shareholders for Nova Star Cloud was 10,900, a decrease of 3.87% from the previous period, while the average circulating shares per person increased by 4.03% to 3,149 shares [2] - For the first half of 2025, the company achieved operating revenue of 1.533 billion yuan, a year-on-year decrease of 1.93%, and a net profit attributable to the parent company of 294 million yuan, down 9.33% year-on-year [2] Dividend and Shareholding - Since its A-share listing, Nova Star Cloud has distributed a total of 627 million yuan in dividends [3] - As of June 30, 2025, the top ten circulating shareholders of Nova Star Cloud saw the exit of the Ruiyuan Growth Value Mixed A fund from the list [3]