Core Viewpoint - The company, Shenzhen Haoshanghao Information Technology Co., Ltd., is experiencing growth in its core business of electronic component distribution, particularly benefiting from the depreciation of the RMB and its focus on storage chips and wireless devices [2][4]. Company Overview - Shenzhen Haoshanghao was established on December 23, 2014, and went public on October 31, 2022. The company primarily sells electronic components to manufacturers in various sectors, including consumer electronics and IoT, and provides related design and technical support [8]. - The company's main revenue sources are from distribution (99.33%), IoT product design and manufacturing (0.65%), and custom chip services (0.01%) [8]. Financial Performance - For the period from January to March 2025, the company reported revenue of 1.772 billion yuan, a year-on-year increase of 13.14%, and a net profit attributable to shareholders of 17.604 million yuan, up 273.64% [8]. - As of July 31, the number of shareholders decreased by 9.31% to 60,800, while the average circulating shares per person increased by 10.26% to 2,535 shares [8]. Market Activity - On August 19, the company's stock rose by 1.92%, with a trading volume of 2.307 billion yuan and a turnover rate of 42.13%, bringing the total market capitalization to 10.413 billion yuan [1]. - The stock has seen a net outflow of 117 million yuan from major investors, indicating a lack of clear trend in major holdings [5][6]. Product Development - The company has launched new custom chip products, including "smart reset MCU" and "smart reset and high-speed communication chips," primarily for TWS earphones, which are now in mass production [2][3]. - The low-power Bluetooth chips developed by the company are mainly used in smart wearable devices [3]. International Exposure - The company's overseas revenue accounted for 67.36% of total revenue, benefiting from the depreciation of the RMB [4].

Core Viewpoint - Demingli is focusing on AI PC, smart wearables, and data center storage solutions, benefiting from the depreciation of the RMB and has been recognized as a "specialized, refined, distinctive, and innovative" enterprise [2][3][4]. Group 1: Product Development - Demingli has launched DDR5 SO-DIMM and U-DIMM memory modules for AI PCs, with a single module capacity of up to 48GB and a theoretical bandwidth of 32GB/s [2]. - The company has developed a complete product matrix for embedded storage, including UFS, LPDDR, and eMMC, targeting the durability needs of smart wearable devices and edge AI applications [2]. - Demingli's data center storage solutions are designed to meet high capacity, performance, reliability, and scalability requirements, supporting modern enterprise data management [2]. Group 2: Market Position and Recognition - Demingli has been included in the Ministry of Industry and Information Technology's list of "specialized, refined, distinctive, and innovative" small giant enterprises, highlighting its strong innovation capabilities and market share [3]. - As of the 2024 annual report, overseas revenue accounted for 69.74% of total revenue, benefiting from the depreciation of the RMB [4]. Group 3: Financial Performance - For the first quarter of 2025, Demingli reported revenue of 1.252 billion yuan, a year-on-year increase of 54.41%, while the net profit attributable to shareholders was -69.088 million yuan, a decrease of 135.34% [9]. - The company's main business revenue composition includes solid-state drives (48.20%), mobile storage (28.01%), embedded storage (17.67%), and others (6.12%) [8].

Core Viewpoint - Demingli has launched new DDR5 SO-DIMM and U-DIMM memory modules targeting AI PCs, enhancing its product offerings in the AI storage solutions market [2] Group 1: Product Development - The new memory modules have a capacity of up to 48GB and a theoretical bandwidth of 32GB/s, compatible with mainstream CPU platforms and operating systems [2] - The company has developed a complete product matrix for embedded storage, including UFS, LPDDR, and eMMC protocols, aimed at high-performance, low-power storage solutions for wearable devices [2] - Demingli's data center storage solutions are designed to meet the increasing demands for high capacity, performance, reliability, and scalability in modern enterprises [2] Group 2: Market Position and Recognition - Demingli has been recognized as a "specialized and innovative" small giant enterprise, indicating its strong market position and innovation capabilities [3] - The company reported that 69.74% of its revenue comes from overseas, benefiting from the depreciation of the RMB [4] Group 3: Financial Performance - For the first quarter of 2025, Demingli achieved a revenue of 1.252 billion, representing a year-on-year growth of 54.41%, while the net profit attributable to the parent company was -69.09 million, a decrease of 135.34% year-on-year [9] - The company has distributed a total of 78.25 million in dividends since its A-share listing [10] Group 4: Shareholder and Market Activity - As of July 18, 2025, Demingli had 30,600 shareholders, an increase of 9.68%, with an average of 4,690 circulating shares per person, a decrease of 8.83% [9] - The stock has seen a net inflow of 43.29 million from main funds today, with a total industry net inflow of 1.051 billion [6]

Core Viewpoint - Demingli has launched new DDR5 SO-DIMM and U-DIMM memory modules targeting AI PCs, with a single module capacity of up to 48GB and a theoretical bandwidth of 32GB/s, enhancing its position in the AI storage market [2] Company Overview - Demingli Technology Co., Ltd. is based in Shenzhen, China, and was established on November 20, 2008. It was listed on July 1, 2022. The company's main business includes the design and development of flash memory controllers and the sales of storage module products [8] - The revenue composition of Demingli's main business includes 48.20% from solid-state drives, 28.01% from mobile storage products, 17.67% from embedded storage products, and 6.12% from other sources [8] Business Focus - The company primarily focuses on flash memory controller design, development, and optimization of storage module application solutions, as well as the sales of storage modules, including storage cards, storage disks, and solid-state drives [2][8] - Demingli's data center storage solutions aim to meet the increasing demands for high capacity, high performance, high reliability, and high scalability due to advancements in cloud computing, big data, and artificial intelligence [2] Market Position - Demingli has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which is a prestigious title for small and medium-sized enterprises in China, indicating strong innovation capabilities and high market share [3] - As of the 2024 annual report, overseas revenue accounted for 69.74% of the company's total revenue, benefiting from the depreciation of the RMB [4] Financial Performance - For the first quarter of 2025, Demingli achieved a revenue of 1.252 billion yuan, representing a year-on-year growth of 54.41%. However, the net profit attributable to the parent company was a loss of 69.088 million yuan, a decrease of 135.34% year-on-year [9]

Group 1 - CPO concept stocks remain active, with storage and optical chip concepts leading in gains, and the AI ETF (588930) seeing a 0.41% increase and over 27 million yuan in trading volume [1] - The AI ETF has experienced a net inflow of over 17 million yuan in the previous day, marking three consecutive trading days of inflows, totaling over 35 million yuan [1] - The AI ETF closely tracks the Shanghai Stock Exchange's AI Index, which selects 30 large-cap companies involved in providing foundational resources, technology, and application support for AI [1] Group 2 - Shanghai's Economic and Information Technology Commission announced measures to expand AI applications, including issuing 600 million yuan in computing power vouchers and 300 million yuan in model vouchers to support AI model applications [2] - First Shanghai Securities expresses strong optimism regarding the sustained high growth in AI-driven computing power demand, indicating a turning point for AI applications domestically and internationally [2] - Guojin Securities notes that AI PCB companies are experiencing strong orders and are ramping up production, with expectations for continued high growth in performance in the second half of the year [2]