HANGZHOU ZHONGHENG(SZ:002364) Xin Lang Cai Jing·2025-10-09 05:45Core Viewpoint - Zhongheng Electric has experienced a significant decline in stock price, dropping 5.02% on October 9, with a cumulative drop of 13.94% over three consecutive days, indicating potential concerns among investors regarding the company's performance and market conditions [1]. Company Overview - Zhongheng Electric, established on July 11, 2001, and listed on March 5, 2010, is located in Hangzhou, Zhejiang Province. The company specializes in the research, production, sales, and service of high-frequency switch power supply systems, with main products including communication power systems and electric operation power systems [1]. - The revenue composition of Zhongheng Electric is as follows: data center power supply 45.66%, electric operation power systems 19.60%, communication power systems 19.22%, software development, sales, and services 11.47%, other 2.87%, and power management services and engineering income 1.17% [1]. Shareholder Activity - Debon Fund's Debon Xinxing Value A (001412) is among the top ten circulating shareholders of Zhongheng Electric. In the second quarter, it reduced its holdings by 2.0615 million shares, now holding 2 million shares, which represents 0.36% of the circulating shares. The estimated floating loss today is approximately 2.84 million yuan, with a total floating loss of 9.16 million yuan over the three-day decline [2]. - Debon Xinxing Value A has achieved a year-to-date return of 99.17%, ranking 76 out of 8238 in its category, and a one-year return of 168.72%, ranking 6 out of 8082 [2]. Fund Manager Performance - The fund manager of Debon Xinxing Value A is Lei Tao, who has been in the position for 3 years and 287 days, with a total asset scale of 3.689 billion yuan. During his tenure, the best fund return was 242.64%, while the worst was -29.27% [3]. - Another fund managed by Lei Tao, Debon Fuxin A (001229), reduced its holdings in Zhongheng Electric by 86,900 shares, now holding 163,100 shares, which accounts for 3.64% of the fund's net value. The estimated floating loss today is about 231,600 yuan, with a total floating loss of 747,000 yuan over the three-day decline [4]. Fund Overview - Debon Fuxin A was established on April 27, 2015, with a current scale of 59.5706 million yuan. It has achieved a year-to-date return of 38.5%, ranking 2427 out of 8238, and a one-year return of 56.68%, ranking 978 out of 8082 [4].