股票代码：002138 股票简称：顺络电子 编号：2025-091 深圳顺络电子股份有限公司 关于股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳顺络电子股份有限公司（以下简称"公司"）于近日接到公司股东新余市 恒顺通电子科技开发有限公司（以下简称"恒顺通"）通知，获悉恒顺通将持有本 公司部分股份办理质押业务，现将有关事项公告如下： 上述质押股份未负担重大资产重组等业绩补偿义务。 二、股东股份累计质押情况 截至公告披露日，恒顺通及其一致行动人所持质押股份情况如下： | | | | | | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 本次质押 | 本次质押 | 占其所 | 占公司 | 情况 | | 情况 | | | | 持股数量 | 持股比 | 前的质押 | 后的质押 | | | | | 未质押股 | | | 股东名称 | (股) | 例 | 股份数量 | 股份数量 | 持股份 | ...

Group 1 - The A-share market experienced a collective decline on November 18, with the Shanghai Composite Index dropping by 0.52% during the session. Sectors such as cultural media, office supplies, and the internet showed positive performance, while fine chemicals and fertilizers faced significant declines [1] - The Consumer Electronics ETF (159732) saw a slight increase of 0.19%, with notable gains from its constituent stocks: Jingchen Co. up by 13.09%, Fenghua Hi-Tech up by 7.48%, Shunluo Electronics up by 4.60%, and Dongshan Precision up by 3.83%. Conversely, stocks like Baiwei Storage and Wentai Technology experienced declines of -6.22% and -2.92%, respectively [1] Group 2 - According to IDC data, the global smart glasses market is projected to reach a shipment volume of 4.065 million units in the first half of 2025, representing a year-on-year growth of 64.2%. By 2029, shipments are expected to exceed 40 million units, with a five-year CAGR of 55.6% from 2024 to 2029 [3] - Galaxy Securities indicates that the development of smart glasses will accelerate in the second half of 2025, primarily driven by the application of AR display technology, transitioning smart glasses from simpler audio and photography devices to more advanced AI+AR glasses [3] - The Consumer Electronics ETF (159732) tracks the Guozheng Consumer Electronics Index, primarily investing in 50 A-share listed companies involved in the consumer electronics industry, with significant representation in electronic manufacturing and optical optoelectronics sectors [3]

Group 1 - The A-share market experienced a collective decline on November 18, with the Shanghai Composite Index dropping by 0.52% during the session [1] - The cultural media, office supplies, and internet sectors showed positive performance, while fine chemicals and fertilizers experienced significant declines [1] - The consumer electronics sector was active, with the Consumer Electronics ETF (159732) rising by 0.19%, and notable individual stock performances included a 13.09% increase for Jingchen Co., 7.48% for Fenghua Hi-Tech, and 4.60% for Shunluo Electronics [1] Group 2 - According to IDC data, global smart glasses market shipments are expected to reach 4.065 million units in the first half of 2025, representing a year-on-year growth of 64.2% [3] - IDC forecasts that by 2029, global smart glasses shipments will exceed 40 million units, with a five-year CAGR of 55.6% from 2024 to 2029 [3] - Galaxy Securities indicates that the development of smart glasses will accelerate in the second half of 2025, primarily driven by the application of AR display technology, transitioning from simpler audio and photography glasses to more advanced AI+AR glasses [3] - The Consumer Electronics ETF (159732) tracks the National Certificate Consumer Electronics Index, primarily investing in 50 A-share listed companies involved in the consumer electronics industry, with a focus on electronic manufacturing and optical optoelectronics [3]

Group 1 - The core point of the news is that Shunluo Electronics has seen a 5% increase in stock price, reaching 36.54 CNY per share, with a trading volume of 754 million CNY and a turnover rate of 2.76%, resulting in a total market capitalization of 29.463 billion CNY [1] - Shunluo Electronics, established on September 8, 2000, and listed on June 13, 2007, specializes in the research, production, and sales of new electronic components, primarily chip inductors and chip varistors, with 99.13% of its revenue coming from these components [1] Group 2 - From the perspective of major fund holdings, Guoshou Anbao Fund has a significant position in Shunluo Electronics, with its Guoshou Anbao Research Selected Mixed A Fund (008082) holding 20,000 shares, unchanged from the previous period, accounting for 4.66% of the fund's net value, ranking as the eighth largest holding [2] - The Guoshou Anbao Research Selected Mixed A Fund (008082) was established on December 30, 2019, with a latest scale of 11.9259 million CNY, achieving a year-to-date return of 31.46%, ranking 2599 out of 8140 in its category, and a one-year return of 24.26%, ranking 3398 out of 8057 [2]

Core Viewpoint - The company has significantly reduced its construction projects due to the completion of several industrial parks, with plans for future expansions in production lines based on market demand [1]. Group 1: Industrial Parks - The company has completed the construction of three industrial parks and a research center, including the Dongguan Phoenix Industrial Park, which has fully completed its third phase and has some production lines operational [1]. - The Xiangtan Ceramic Powder Industrial Park has been completed and is now in operation [1]. - The Shanghai Songjiang Industrial Park has been completed, with some production lines gradually starting operations [1]. - The Shenzhen Research Center has also been completed [1]. Group 2: Future Plans - The company plans to advance the construction and production progress of each industrial park step by step according to market demand [1]. - There are inquiries regarding the company's future expansion plans for production lines, including specific locations, timelines, and capacity increases [1].

在上述权限范围内，公司董事会授权公司管理层根据实际情况，选择金融机 构及担保方式并办理签订相关合同等具体事宜，公司将按照相关法律法规履行信 息披露义务。 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 深圳顺络电子股份有限公司（以下简称"公司"）对外担保额度总额超过最 近一期经审计净资产的 100%，该等担保全部系为公司之控股公司提供的担保， 敬请投资者充分关注担保风险。 一、担保情况概述 公司已于 2025 年 2 月 26 日召开了第七届董事会第十四次会议及第七届监事 会第十一次会议，审议通过了《关于公司 2025 年度为控股公司提供担保的议案》。 为增强对公司之控股公司的支持，公司拟为控股公司东莞华络电子有限公司（以 下简称"东莞华络"）、深圳顺络汽车电子有限公司（以下简称"顺络汽车"）、 东莞顺络电子有限公司（以下简称"东莞顺络"）、东莞信柏结构陶瓷股份有限 公司（以下简称"信柏陶瓷"）分别向银行申请人民币 10 亿元（含）、人民币 10 亿元（含）、人民币 45 亿元（含）、人民币 5 亿元（含）的银行授信提供担 保。此议案已于 2025 ...

Core Viewpoint - The stock of Shunluo Electronics has experienced a decline of 2.00% on November 17, with a current price of 34.28 CNY per share and a total market capitalization of 27.641 billion CNY. The company has seen a year-to-date stock price increase of 10.96% but has faced a recent decline over the past five trading days [1]. Financial Performance - For the period from January to September 2025, Shunluo Electronics reported a revenue of 5.032 billion CNY, reflecting a year-on-year growth of 19.95%. The net profit attributable to shareholders was 769 million CNY, marking a 23.23% increase compared to the previous year [2]. - The company has distributed a total of 2.32 billion CNY in dividends since its A-share listing, with 869 million CNY distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Shunluo Electronics reached 46,000, an increase of 16.79% from the previous period. The average number of circulating shares per shareholder decreased by 14.38% to 16,456 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 45.1919 million shares, a decrease of 5.0674 million shares from the previous period. Other notable shareholders include Xingquan Trend Investment Mixed Fund and Southern CSI 500 ETF, both of which have reduced their holdings [3]. Business Overview - Shunluo Electronics, established on September 8, 2000, and listed on June 13, 2007, specializes in the research, production, and sales of new electronic components, primarily chip inductors and chip varistors. The company's main business revenue composition is 99.13% from chip electronic components and 0.87% from other sources [1]. - The company operates within the electronic components industry, specifically in passive components, and is associated with various concepts including NFC, inductors, SOFC, PCB, and 5G [1].

Core Viewpoint - The recent performance of the CSI 500 Quality Growth Index shows a decline, with specific stocks leading gains and losses, indicating market volatility and sector-specific movements [1][2]. Group 1: Market Performance - As of November 17, 2025, the CSI 500 Quality Growth Index (930939) decreased by 1.26%, with Jiuli Special Materials (002318) leading the gainers and Shanghai Electric (600021) leading the decliners [1]. - The CSI 500 Quality Growth ETF (560500) experienced a turnover rate of 0.46%, with a trading volume of 2.1469 million yuan [1]. Group 2: Sector Analysis - CITIC Securities noted increased volatility in the computing power sector, emphasizing the ongoing AI industrial revolution and the need for a long-term perspective on its impact [2]. - Quantum technology is highlighted as a key future industry, with recent advancements such as the joint development of a superconducting quantum computer by China Telecom Quantum Group and Guoshield Quantum [2]. Group 3: Fund and Index Composition - The CSI 500 Quality Growth Index selects 100 companies from the CSI 500 Index based on profitability, sustainability, and cash flow, providing diverse investment options [2]. - As of October 31, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index accounted for 21.64% of the index, with Huagong Technology (000988) having the highest weight at 3.37% [3][5].

Investment Rating - The report indicates a strong investment rating for the electronic industry, with significant increases in fund allocation and overweight ratios in Q3 2025 [2][5][18]. Core Insights - The electronic industry saw a substantial increase in fund allocation, with a market capitalization share of 26.4% in Q3 2025, up 7.08 percentage points from Q2 2025. The overweight ratio reached 11.7%, an increase of 4.23 percentage points from the previous quarter, making it the most favored sector among public funds [2][5][18]. - The ongoing AI wave is driving innovation and growth in the electronic sector, with strong capital expenditure from upstream CSP manufacturers and robust demand for innovative electronic products downstream [5][24]. Summary by Sections Overall Industry - In Q3 2025, the electronic industry's fund allocation and overweight ratios reached new highs, with a significant increase in both metrics compared to Q2 2025 [5][18]. - The electronic sector continues to be the most favored direction for public funds, driven by the rapid release of capital expenditure in upstream CSP and strong innovation trends in downstream electronic products [5][24]. Semiconductor Sector - The semiconductor sector has entered a new growth cycle, with a 2.21% increase in fund allocation in Q3 2025. Notable companies like Cambrian and Huagong Information saw changes in their allocation based on market expectations [6][41][42]. - The global semiconductor market is experiencing strong demand, particularly in AI-related applications, leading to a significant increase in prices and shortages in certain segments [6][39][41]. Electronic Products & Components - The electronic products and components sector saw a substantial increase in fund allocation, with a 2.12% increase in Q3 2025. Key players in AI hardware, such as Industrial Fulian and Huadian, received significant increases in their allocations [7][45]. - Despite facing challenges like rising storage prices, the sector remains attractive for investment due to ongoing innovation and capital expenditure [7][45]. Display Devices - The display device sector experienced a slight decrease in holdings in Q3 2025, but long-term demand remains strong. The industry is expected to benefit from upcoming major sporting events and a replacement cycle for devices [8][49].

Core Insights - The company has launched inductor and tantalum capacitor product solutions that meet the high performance, high reliability, and lower cost requirements of storage clients [2] - The recent industry-wide price increase and demand changes for storage products present both opportunities and challenges for the company, which is closely monitoring market developments [2]