广和通跌近6% 股价续创上市新低 入通后累计跌幅超两成

Core Viewpoint - Guanghe Tong (300638) has seen a significant decline in its stock price, reaching a new low since its listing, following its inclusion in the Hong Kong Stock Connect program, with a cumulative drop of over 20% since November 17 [1] Financial Performance - For the first three quarters of 2025, Guanghe Tong reported a revenue of 5.366 billion yuan, a year-on-year decrease of 13.69%. Excluding the impact of the wireless communication module business from Ruilin, the revenue from continuing operations increased by 7.32% [1] - The company achieved a net profit attributable to shareholders of 316 million yuan, down 51.50% year-on-year. Excluding the impact of the Ruilin wireless communication module business, the net profit from continuing operations decreased by 2.19% [1] Strategic Initiatives - Guanghe Tong is actively cultivating new growth areas in the AI and robotics sectors. In the AI toy segment, the company offers mature solutions, including communication modules, MagiCore chip box solutions, and complete products tailored to customer needs [1] - In the AR glasses segment, the company is accelerating large-scale implementation in collaboration with leading clients [1] - The robotics business focuses on two main directions: lawn mowing robots and embodied intelligent robots [1]