Core Insights - Nova Star Cloud (301589) experienced a net financing purchase of 2.1 million yuan on September 11, 2025, with a total financing balance of 309 million yuan, indicating a positive investor sentiment [1][2]. Financing Activity Summary - On September 11, 2025, the net financing purchase was 210.24 thousand yuan, with a financing balance of 3.09 billion yuan, representing 5.03% of the circulating market value [2]. - Over the past three trading days, the cumulative net financing purchase reached 3.01 million yuan, with 13 out of the last 20 trading days showing net financing purchases [1]. - The financing balance increased by 0.68% on September 11, 2025, compared to the previous day, reflecting a positive trend in investor behavior [3]. Margin Trading Overview - The total margin trading balance on September 11, 2025, was 310 million yuan, which is an increase of 209.71 thousand yuan from the previous day [3]. - The margin trading balance has shown fluctuations, with a notable increase of 7.79% on September 10, 2025, indicating varying investor sentiment over the recent trading days [3].

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]

Core Viewpoint - The company is focusing on the rapid growth of the MLED industry, with significant product developments and an expanding overseas market presence, while also addressing talent management and future applications in AR/VR technology. Group 1: MLED Industry Outlook - According to Loto Technology, the global market size for Mini LED direct display is expected to reach $3.3 billion by 2028, with a compound annual growth rate (CAGR) of approximately 40% from 2024 to 2028, indicating a strong growth trajectory for the MLED industry [2] - The company has launched core detection equipment and integrated circuits for MLED, which enhance production efficiency and display quality, supporting the standardization and large-scale manufacturing of MLED displays [2] Group 2: Overseas Market Performance - In 2024, the company's overseas business grew rapidly, with foreign revenue increasing by 32.03% compared to 2023, accounting for 19.10% of total revenue; in the first half of 2025, foreign revenue grew by 21.31% year-on-year, making up 22.89% of total revenue [3] - The company has established a comprehensive overseas sales system and a wide partner network globally, positioning itself for sustained high growth in international markets [3] Group 3: Future Applications and Talent Management - The acceleration of MLED technology has expanded its application from professional to consumer markets, with current uses in virtual shooting, naked-eye 3D, and meetings; the company plans to explore high-value applications in AR/VR glasses [4] - The company is focusing on talent acquisition and development, implementing comprehensive incentive measures and optimizing training systems to maximize employee potential and foster a performance-driven culture [5] Group 4: Financial Performance - In the 2025 mid-year report, the company reported a main revenue of 1.533 billion yuan, a year-on-year decrease of 1.93%; net profit attributable to shareholders was 294 million yuan, down 9.33% [6] - The second quarter of 2025 saw a main revenue of 912 million yuan, an increase of 3.41% year-on-year, while net profit for the quarter was 192 million yuan, a decrease of 4.95% [6] - The company has a debt ratio of 30.52% and a gross profit margin of 58.57% [6]

Group 1 - Nova Star Cloud (SZ 301589) announced that on September 10, 2025, it will accept investor research from firms such as Wells Fargo, with the CFO and board secretary Zhang Zheng participating in the discussions [1] - For the year 2024, the company's revenue composition is entirely from the video image display control industry, accounting for 100.0% [1] - As of the report, Nova Star Cloud has a market capitalization of 16.6 billion yuan [1]

Group 1: MLED Market Outlook - The global market size for Mini LED direct display is expected to reach billions of dollars by 2028, with a compound annual growth rate (CAGR) of approximately 40% from 2024 to 2028 [2] - Domestic MLED manufacturers are actively expanding production, indicating a strong growth trajectory for the MLED industry [2] - The company has launched core detection equipment and integrated circuits for MLED, enhancing production efficiency and display quality [3] Group 2: Overseas Market Performance - In 2024, overseas revenue grew by 32.03% compared to 2023, accounting for 19.10% of total revenue [4] - In the first half of 2025, overseas revenue increased by 21.31% year-on-year, with an overseas revenue share of 22.89% [4] - The company has established a comprehensive overseas sales system and a broad partner network, positioning for sustained growth in international markets [4] Group 3: Product Applications in AR/VR - MLED technology is expanding from professional to consumer markets, with applications in virtual shooting, naked-eye 3D, and meetings [4] - The company is actively exploring high-value potential applications in the AR/VR glasses sector [4] Group 4: Talent Management Strategies - The company focuses on leveraging existing talent and recruiting industry experts, implementing comprehensive incentive measures [4] - A systematic optimization of internal training and development is in place, offering diverse career paths for employees [4] - An effective performance evaluation and incentive mechanism has been established to foster a culture of value distribution based on effort [5]

证券日报网讯 9月8日晚间，诺瓦星云发布公告称，公司2025年第四次临时股东会于2025年9月8日召 开，审议通过了《关于使用部分超募资金偿还银行贷款的议案》等议案。 （文章来源：证券日报） ...

北京市中伦（深圳）律师事务所 关于西安诺瓦星云科技股份有限公司 2025年第四次临时股东会的 法律意见书 二〇二五年九月 法律意见书 北京市中伦（深圳）律师事务所 关于西安诺瓦星云科技股份有限公司 2025 年第四次临时股东会的 1 法律意见书 人员的资格、召集人资格及会议表决程序、表决结果是否符合《公司法》《股东 会规则》等法律、法规、规范性文件及《公司章程》的规定发表意见，不对会议 审议的议案内容以及该等议案所表述的事实或数据的真实性及准确性发表意见。 本所及本所律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、 完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大 遗漏，并承担相应法律责任。 本所同意将本法律意见书作为本次股东会的公告材料，随同其他会议文件一 并报送有关机构并公告。除此以外，未经本所同意，本法律意见书不得为任何其 他人用于任何其他目的。 法律意见书 致 ...

2025年第四次临时股东会决议公告 证券代码：301589 证券简称：诺瓦星云 公告编号：2025-074 西安诺瓦星云科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会无新增、更改、否决议案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、召开时间 现场会议时间：2025年9月8日（星期一）下午14:30 网络投票时间：2025年9月8日（星期一） 其中，通过深圳证券交易所交易系统进行网络投票的时间为2025年9月8日9:15-9:25， 9:30-11:30和13:00-15:00； 通过深圳证券交易所互联网投票系统投票时间为2025年9月8日9:15至15:00期间的任 意时间。 （二）会议出席情况 1、股东出席的总体情况 通过现场和网络投票的股东91人，代表股份18,186,371股，占公司有表决权股份总数 的20.0729％。 其中：通过现场投票的股东0人，代表股份0股，占公司有表决权股份总数的0.0000％。 2、召开地点：陕西省西安市高新区云水三路 ...

Group 1 - The core viewpoint of the article is that advancements in artificial intelligence technology present new development opportunities for the video image display control industry [1] - The company is closely monitoring trends in artificial intelligence technology and actively exploring its applications within the industry [1] - The company has already applied artificial intelligence technology to some of its products through independent research and development, enhancing the visual experience for users [1] Group 2 - The company is committed to continuously exploring artificial intelligence technology to provide users with superior product experiences in the future [1]

Core Viewpoint - Nova Star Cloud announced the launch of its PWM+PAM hybrid driver chip, which enhances LED display performance by allowing real-time adjustment of driving current for each LED based on pulse width modulation, achieving superior image quality and color accuracy [2] Group 1: Technology Features - The PWM+PAM hybrid driver chip exhibits "five highs and two lows" characteristics: high peak brightness, high dynamic range, high gray levels, high refresh rate, high color accuracy, low power consumption, and low temperature rise [2] - The technology enables precise control over images and exceptional color reproduction, significantly improving the display quality of LED screens [2] Group 2: Production and Application - The PWM+PAM hybrid driver chip has already entered mass production and is being applied by relevant manufacturers [2]