11月6日，新恒汇盘中上涨2.00%，截至13:35，报71.37元/股，成交1.13亿元，换手率3.51%，总市值 170.97亿元。 机构持仓方面，截止2025年9月30日，新恒汇十大流通股东中，香港中央结算有限公司位居第七大流通 股东，持股25.44万股，为新进股东。 资金流向方面，主力资金净流入774.19万元，特大单买入253.68万元，占比2.24%，卖出0.00元，占比 0.00%；大单买入2134.64万元，占比18.87%，卖出1614.13万元，占比14.27%。 责任编辑：小浪快报 新恒汇今年以来股价涨71.48%，近5个交易日涨0.85%，近20日跌14.73%，近60日跌15.84%。 新恒汇所属申万行业为：电子-半导体-半导体材料。所属概念板块包括：近端次新、eSIM、次新股、集 成电路、芯片概念等。 截至9月30日，新恒汇股东户数3.00万，较上期减少19.55%；人均流通股1515股，较上期增加24.31%。 2025年1月-9月，新恒汇实现营业收入7.00亿元，同比增长18.12%；归母净利润1.20亿元，同比减少 11.72%。 分红方面，新恒汇A股上市后累计派现1.20亿 ...

Core Viewpoint - New Henghui experienced a decline of 0.50% on November 5, with a trading volume of 124 million yuan, indicating a negative net financing position for the day [1][2]. Financing Summary - On November 5, New Henghui had a financing buy amount of 16.59 million yuan, with a total financing balance of 350 million yuan, accounting for 10.99% of its market capitalization [2]. - The company had no short selling activity on the same day, with both short selling and short balance recorded as zero [2]. Company Overview - New Henghui Electronic Co., Ltd. is located in Zibo High-tech Zone, Shandong Province, established on December 7, 2017, and listed on June 20, 2025 [2]. - The company's main business includes smart card operations (59.74% of revenue), etched lead frame business (28.34%), and IoT eSIM chip testing (6.16%), with other operations contributing 5.76% [2]. Financial Performance - For the period from January to September 2025, New Henghui achieved a revenue of 700 million yuan, representing a year-on-year growth of 18.12%, while the net profit attributable to shareholders decreased by 11.72% to 120 million yuan [2]. - As of September 30, 2025, the number of shareholders was 30,000, a decrease of 19.55% from the previous period, while the average circulating shares per person increased by 24.31% to 1,515 shares [2]. Dividend Information - Since its A-share listing, New Henghui has distributed a total of 120 million yuan in dividends [3]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the seventh largest circulating shareholder, holding 254,400 shares as a new shareholder [3].

格隆汇11月4日丨新恒汇(301678.SZ)在投资者互动平台表示，生益科技是公司的合作伙伴，合作研发了 国产环氧树脂布（固化片和覆铜板），代替进口材料，并成功运用到柔性引线框架生产过程中。 ...

格隆汇11月4日丨新恒汇(301678.SZ)在投资者互动平台表示，生益科技是公司的合作伙伴，合作研发了 国产环氧树脂布（固化片和覆铜板），代替进口材料，并成功运用到柔性引线框架生产过程中。 ...

Group 1 - The core viewpoint of the news is that Xinhenghui has shown mixed financial performance with a slight increase in revenue but a decrease in net profit, alongside notable trading activity in the stock market [1][2][3] Group 2 - As of November 3, Xinhenghui's stock price increased by 0.45%, with a trading volume of 136 million yuan. The financing buy-in amount was 16.78 million yuan, while the financing repayment was 17.43 million yuan, resulting in a net financing buy of -0.65 million yuan [1] - The total financing and securities balance for Xinhenghui as of November 3 is 358 million yuan, which accounts for 10.98% of its circulating market value [1] - The company has not engaged in any short selling activities on November 3, with no shares sold or repaid [1] Group 3 - As of September 30, Xinhenghui had 30,000 shareholders, a decrease of 19.55% from the previous period, while the average circulating shares per person increased by 24.31% to 1,515 shares [2] - For the period from January to September 2025, Xinhenghui achieved an operating income of 700 million yuan, representing a year-on-year growth of 18.12%, but the net profit attributable to the parent company decreased by 11.72% to 120 million yuan [2] Group 4 - Since its A-share listing, Xinhenghui has distributed a total of 120 million yuan in dividends [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the seventh largest circulating shareholder of Xinhenghui, holding 254,400 shares as a new shareholder [3]

Core Insights - New Henghui, established on December 7, 2017, is set to be listed on the Shenzhen Stock Exchange on June 20, 2025, and is the only domestic company capable of mass-producing flexible lead frames for core packaging materials, leading in global market share [1] Business Overview - New Henghui's main business includes smart card operations, etched lead frame business, and IoT eSIM chip packaging, classified under the electronic-semiconductor-semiconductor materials sector [1] - The company is involved in several concept sectors, including near-term new shares, eSIM, new stock nuclear fusion, superconducting concepts, and nuclear power [1] Financial Performance - For Q3 2025, New Henghui reported revenue of 700 million yuan, ranking 16th out of 24 in the industry, below the top competitor, Yuyuan New Materials, which had 6.77 billion yuan, and the industry average of 1.539 billion yuan [2] - The net profit for the same period was 119 million yuan, ranking 9th in the industry, lower than the top competitor, Yake Technology, which reported 864 million yuan, but higher than the industry average of 60.59 million yuan [2] Financial Ratios - As of Q3 2025, New Henghui's debt-to-asset ratio was 7.02%, significantly lower than the industry average of 31.95% [3] - The gross profit margin for Q3 2025 was 28.00%, down from 36.55% year-on-year but still above the industry average of 25.67% [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 19.55% to 30,000, with an average of 1,515.63 circulating A-shares per shareholder, an increase of 24.31% [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the seventh largest, holding 254,400 shares as a new shareholder [5] Strategic Focus - New Henghui's smart card business remains its core traditional business, expected to account for about 70% of revenue in 2024 [5] - The company is actively expanding into etched lead frames and IoT eSIM chip packaging, with these new businesses projected to become major revenue growth points in 2024 [5]

Core Insights - As companies release their third-quarter reports, some have provided early forecasts for their annual performance [1] Group 1: Earnings Forecasts - A total of 9 companies have announced their earnings forecasts for the year 2025, with 7 companies expecting an increase in earnings and 1 company forecasting a decrease [2] - The companies expecting earnings growth include: - Luxshare Precision (002475) with a forecasted net profit increase of 26.09% [2] - Hongyuan Co., Ltd. (920018) with a forecasted net profit increase of 21.42% [2] - Aomeisen (920080) with a forecasted net profit increase of 16.44% [2] - Taikaiying (920020) with a forecasted net profit increase of 10.44% [2] - Xintong Electronics (001388) with a forecasted net profit increase of 5.40% [2] - Xinhenghui (301678) with a forecasted net profit increase of 4.66% [2] - The only company forecasting a decrease in earnings is Jinhua New Materials (920015), with a forecasted net profit decrease of 5.47% [2] Group 2: Stock Performance - The latest closing prices and year-to-date performance for the companies are as follows: - Luxshare Precision: Latest price at 65.04, year-to-date change of 60.47% [2] - Hongyuan Co., Ltd.: Latest price at 31.08, year-to-date change of -26.00% [2] - Aomeisen: Latest price at 31.70, year-to-date change of -14.58% [2] - Taikaiying: Latest price at 20.12, year-to-date change of -7.02% [2] - Xintong Electronics: Latest price at 45.36, year-to-date change of -27.61% [2] - Xinhenghui: Latest price at 70.77, year-to-date change of 68.98% [2] - Jinhua New Materials: Latest price at 58.33, year-to-date change of 37.93% [2] - Yongtai Energy (600157): Latest price at 1.63, year-to-date change of -4.68% [2] - Ruihua Technology (920099): Latest price at 30.55, year-to-date change of 6.53% [2]

Core Insights - The company reported a third-quarter revenue of 226 million yuan, representing a year-on-year increase of 26.5%, while the net profit attributable to shareholders decreased by 11.08% to approximately 30.88 million yuan [2][3] - For the first three quarters, the company achieved a revenue of 700 million yuan, up 18.12% year-on-year, but the net profit attributable to shareholders fell by 11.72% to around 120 million yuan [2][3] Financial Performance - The gross margin for the third quarter was 23.31%, down 10.97 percentage points year-on-year and down 4.56 percentage points quarter-on-quarter; the net profit margin was 13.59%, a decrease of 5.85 percentage points year-on-year and 2.42 percentage points quarter-on-quarter [3] - The basic and diluted earnings per share for the third quarter were both 0.09 yuan, reflecting a 55% decline compared to the same period last year [3] Future Outlook - The company forecasts a full-year revenue of approximately 956.22 million yuan for 2025, representing a year-on-year growth of 13.56%, with an expected net profit of around 194.63 million yuan, an increase of about 4.66% [4] - The anticipated growth in 2025 is attributed to the strong performance of the smart card business and the etching lead frame business [4]

Core Viewpoint - New Henghui (301678.SZ) reported a revenue increase of 18.12% year-on-year for the first three quarters of 2025, reaching 700 million yuan, while net profit attributable to shareholders decreased by 11.72% to 120 million yuan [1] Financial Performance - The company's operating revenue for the first three quarters was 700 million yuan, reflecting an 18.12% year-on-year growth [1] - Net profit attributable to shareholders was 120 million yuan, showing a decrease of 11.72% compared to the previous year [1] - The net profit after deducting non-recurring gains and losses was 106 million yuan, which is a 13.90% decrease year-on-year [1] - Basic earnings per share stood at 0.59 yuan [1]

Revenue and Profit - Revenue for Q3 2025 reached ¥225,644,496.94, an increase of 26.50% year-over-year, while year-to-date revenue totaled ¥700,018,135.43, up 18.12% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 11.08% in Q3 to ¥30,882,763.40, and year-to-date net profit was ¥119,837,251.91, down 11.72% year-over-year[5] - Basic earnings per share fell by 55.00% to ¥0.09 for Q3, with year-to-date earnings per share at ¥0.59, a decrease of 22.37%[5] - Operating profit for the current period was ¥132,448,889.67, compared to ¥149,206,829.70 in the previous period, reflecting a decrease of approximately 11.2%[18] - The total profit for the current period is approximately ¥132.43 million, a decrease from ¥152.70 million in the previous period, representing a decline of about 13.2%[19] - Net profit attributable to shareholders of the parent company is approximately ¥119.84 million, down from ¥135.74 million, reflecting a decrease of about 11.7%[19] - The company reported a net profit margin decrease, with net profit for the current period not specified but indicated a decline in operating profit[18] Assets and Liabilities - Total assets increased by 51.94% to ¥2,066,297,849.57 compared to the end of the previous year, while equity attributable to shareholders rose by 56.56% to ¥1,909,583,605.96[5] - Total current assets rose to ¥1,588,279,987.28, up from ¥893,906,613.29, which is an increase of about 77.7%[15] - Total liabilities increased to ¥145,050,235.15 from ¥127,897,527.56, showing a rise of about 13.4%[17] - The company's capital reserve surged to ¥1,080,533,084.29 from ¥458,442,107.17, indicating an increase of approximately 135.5%[17] Cash Flow - Cash flow from operating activities showed a year-to-date decline of 24.26%, totaling ¥96,215,750.29[5] - Operating cash flow for the current period is approximately ¥96.22 million, down from ¥127.03 million, indicating a decline of about 24.3%[21] - Cash and cash equivalents increased significantly to ¥894,146,484.24 from ¥399,230,342.57, marking a growth of approximately 124.5%[15] - Cash and cash equivalents at the end of the period increased to approximately ¥894.14 million, compared to ¥300.44 million at the end of the previous period, showing a significant increase of about 196.5%[22] - The company reported cash inflows from financing activities of approximately ¥826.58 million, a substantial increase compared to ¥30.00 million in the previous period[22] - The company’s investment activities resulted in a net cash outflow of approximately ¥188.06 million, compared to a smaller outflow of ¥5.26 million in the previous period[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,029[10] - The largest shareholder, Yu Renrong, holds 23.56% of the shares, totaling 56,432,000 shares[10] - The second-largest shareholder, Ren Zhijun, holds 12.15% of the shares, totaling 29,116,000 shares[10] - The top three shareholders collectively hold 47.49% of the total shares[10] - The company has a total of 179,666,600 restricted shares at the beginning of the period, with no shares released during the period[12] - The total number of restricted shares at the end of the period is 194,042,694, which includes 14,376,094 newly restricted shares[12] - The largest shareholder with restricted shares, Yu Renrong, has 56,432,000 shares that are subject to lock-up until June 20, 2028[12] - The company has a significant number of shares held by institutional investors, indicating strong institutional interest[10] - The top ten unrestricted shareholders hold a total of 4,000,000 shares, with the largest being Lin Wenlong with 848,200 shares[11] Operating Costs and Expenses - The company experienced a 34.02% increase in operating costs, totaling ¥503,997,673.12, driven by rising material costs due to increased prices of precious metals and copper[9] - Total operating costs amounted to ¥579,907,459.08, up from ¥445,989,509.80, indicating an increase of about 30%[18] - Research and development expenses for the current period were ¥37,917,286.58, compared to ¥35,541,395.16 in the previous period, reflecting an increase of about 6.7%[18] - The company’s cash flow from operating activities was impacted by increased payments to employees, totaling approximately ¥92.69 million, up from ¥83.35 million in the previous period[21] Investment and Fair Value - Investment income reached ¥1,051,002.51, attributed to hedging and structured deposits[9] - The company reported a 100% increase in fair value changes, amounting to ¥380,555.56, due to structured deposits[9] Future Plans - The company is planning to expand its market presence and explore new strategies for growth in the upcoming quarters[13]