Company Overview - Changfei Optical Fiber is located in Wuhan, Hubei Province, and was established on May 31, 1988, with its listing date on July 20, 2018. The company focuses on the telecommunications industry, particularly in areas related to telecom operators and data communication, and is dedicated to the R&D and manufacturing of optical fiber preforms, optical fibers, and cables, forming a complete industrial chain with diversified and international business models [1][2]. Financial Performance - As of September 30, 2025, Changfei Optical Fiber achieved operating revenue of 10.275 billion yuan, representing a year-on-year growth of 18.18%. However, the net profit attributable to shareholders decreased by 18.02% to 470 million yuan [2]. - Since its A-share listing, the company has distributed a total of 2.129 billion yuan in dividends, with 943 million yuan distributed over the past three years [3]. Stock Performance - On January 14, the stock price of Changfei Optical Fiber increased by 2.09%, reaching 109.44 yuan per share, with a trading volume of 937 million yuan and a turnover rate of 2.15%. The total market capitalization is 90.606 billion yuan [1]. - Year-to-date, the stock price has decreased by 5.95%, with a 7.07% decline over the last five trading days, a 15.02% increase over the last 20 days, and a 32.93% increase over the last 60 days [1]. Shareholder Information - As of September 30, 2025, the number of shareholders for Changfei Optical Fiber reached 48,200, an increase of 112.91% compared to the previous period. The average circulating shares per person remained at 0 shares [2]. - Among the top ten circulating shareholders, Debon Xinxing Value A (001412) is the sixth largest with 3.7323 million shares, while Hong Kong Central Clearing Limited is the seventh largest with 3.1874 million shares, having decreased by 2.7622 million shares compared to the previous period [3].

Core Viewpoint - The stock of Dianzhi Technology has shown a mixed performance with a slight increase of 2.02% on January 14, 2025, while the company has reported a year-on-year revenue growth of 21.20% but a decline in net profit by 18.71% for the first nine months of the fiscal year [1][2]. Group 1: Stock Performance - As of January 14, 2025, Dianzhi Technology's stock price reached 50.09 CNY per share, with a trading volume of 2.24 billion CNY and a turnover rate of 1.25%, resulting in a total market capitalization of 21.279 billion CNY [1]. - The stock has increased by 2.90% year-to-date, decreased by 1.11% over the last five trading days, increased by 8.96% over the last 20 days, and increased by 2.02% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Dianzhi Technology achieved a revenue of 4.039 billion CNY, representing a year-on-year growth of 21.20%, while the net profit attributable to shareholders decreased by 18.71% to 373 million CNY [2]. - The company has distributed a total of 889 million CNY in dividends since its A-share listing, with 430 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of January 9, 2025, the number of shareholders for Dianzhi Technology increased to 24,000, reflecting a rise of 1.28%, while the average circulating shares per person decreased by 1.26% to 14,991 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 15.5804 million shares, and several mutual funds that have increased their holdings [3].

Core Viewpoint - Lianrui New Materials Co., Ltd. has shown fluctuations in stock performance and financial growth, with a notable increase in revenue and net profit year-on-year, indicating potential investment opportunities in the inorganic filler and particle carrier industry. Group 1: Stock Performance - On January 14, Lianrui's stock rose by 2.00%, reaching 62.08 CNY per share, with a trading volume of 101 million CNY and a turnover rate of 0.68%, resulting in a total market capitalization of 14.99 billion CNY [1] - Year-to-date, Lianrui's stock price has decreased by 0.02%, with a 5-day decline of 5.51%, a 20-day increase of 6.96%, and a 60-day increase of 11.84% [1] Group 2: Financial Performance - For the period from January to September 2025, Lianrui achieved a revenue of 824 million CNY, representing a year-on-year growth of 18.76%, and a net profit attributable to shareholders of 220 million CNY, reflecting a year-on-year increase of 19.01% [2] - Since its A-share listing, Lianrui has distributed a total of 381 million CNY in dividends, with 242 million CNY distributed over the past three years [3] Group 3: Shareholder Information - As of September 30, 2025, Lianrui had 11,000 shareholders, an increase of 42.50% from the previous period, with an average of 22,029 circulating shares per shareholder, a decrease of 29.82% [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the eighth largest with 1.6654 million shares, marking a new entry, while Guoshou Anbao Smart Life Stock A has reduced its holdings by 11,000 shares [3]

Core Viewpoint - The stock of Shijia Photonics has experienced fluctuations, with a recent increase of 2.00% to 81.50 CNY per share, despite an overall decline of 8.20% since the beginning of the year [1] Company Overview - Shijia Photonics, established on October 26, 2010, and listed on August 12, 2020, is located in Hebi City, Henan Province. The company specializes in optical chips and devices, indoor optical cables, and cable materials [1] - The main products include PLC splitter chip series, AWG chip series, DFB laser chip series, optical fiber connectors, indoor optical cables, and cable materials [1] - The revenue composition is as follows: optical chips and devices 70.52%, indoor optical cables 15.11%, polymer materials for cables 12.66%, and others 1.72% [1] Financial Performance - For the period from January to September 2025, Shijia Photonics achieved a revenue of 1.56 billion CNY, representing a year-on-year growth of 113.96%. The net profit attributable to shareholders was 300 million CNY, showing a significant increase of 727.74% [2] - Since its A-share listing, the company has distributed a total of 77.34 million CNY in dividends, with 49.81 million CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 44,300, marking a rise of 78.43%. The average circulating shares per person decreased by 43.96% to 10,351 shares [2] - Notable new institutional shareholders include Yongying Technology Smart Selection Mixed Fund and AVIC Opportunity Leading Mixed Fund, which hold 7.35 million and 7.20 million shares, respectively [3]

Core Viewpoint - Guangxun Technology's stock price has shown a positive trend with a year-to-date increase of 2.27% and significant growth over various time frames, indicating strong market performance and investor interest [2]. Group 1: Stock Performance - As of January 14, Guangxun Technology's stock price increased by 2.04%, reaching 71.54 CNY per share, with a trading volume of 1.389 billion CNY and a turnover rate of 2.53% [1]. - The stock has experienced a 10.35% increase over the past 20 days and a 20.50% increase over the past 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Guangxun Technology reported a revenue of 8.532 billion CNY, reflecting a year-on-year growth of 58.65%, and a net profit attributable to shareholders of 719 million CNY, up 54.95% year-on-year [2]. - The company has distributed a total of 1.641 billion CNY in dividends since its A-share listing, with 537 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders in Guangxun Technology increased to 147,300, a rise of 13.14% from the previous period, while the average number of circulating shares per shareholder decreased by 10.88% to 5,292 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 14.3915 million shares, an increase of 4.0608 million shares from the previous period [3].

Core Viewpoint - Huagong Technology's stock price has shown fluctuations in recent trading sessions, with a notable increase in overall revenue and profit year-on-year, indicating strong business performance and investor interest [1][2]. Group 1: Stock Performance - On January 14, Huagong Technology's stock rose by 2.04%, reaching 81.66 CNY per share, with a trading volume of 1.879 billion CNY and a turnover rate of 2.32%, resulting in a total market capitalization of 82.109 billion CNY [1]. - Year-to-date, the stock price has increased by 2.94%, with a decline of 1.71% over the last five trading days, an increase of 8.49% over the last 20 days, and a rise of 2.41% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Huagong Technology achieved a revenue of 11.038 billion CNY, representing a year-on-year growth of 22.62%, while the net profit attributable to shareholders was 1.321 billion CNY, reflecting a year-on-year increase of 40.92% [2]. - The company has distributed a total of 1.087 billion CNY in dividends since its A-share listing, with 0.452 billion CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of Huagong Technology's shareholders reached 189,400, an increase of 101.14% compared to the previous period, with an average of 5,306 circulating shares per shareholder, a decrease of 50.28% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 38.9396 million shares, a decrease of 7.8374 million shares from the previous period, while Southern CSI 500 ETF holds 14.6469 million shares, down by 296,000 shares [3].

Core Viewpoint - The stock price of Oulutong has shown a positive trend with a year-to-date increase of 6.72%, despite a slight decline of 1.32% over the past five trading days [2]. Group 1: Stock Performance - As of January 14, Oulutong's stock price rose by 2.06% to 235.86 CNY per share, with a trading volume of 611 million CNY and a turnover rate of 2.41%, resulting in a total market capitalization of 25.911 billion CNY [1]. - The stock has experienced a 14.00% increase over the past 20 days and a 26.74% increase over the past 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Oulutong achieved a revenue of 3.387 billion CNY, representing a year-on-year growth of 27.16%, and a net profit attributable to shareholders of 222 million CNY, reflecting a growth of 41.53% [2]. - Since its A-share listing, Oulutong has distributed a total of 229 million CNY in dividends, with 183 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of Oulutong shareholders reached 21,600, an increase of 25.48% from the previous period, with an average of 5,097 circulating shares per shareholder, a decrease of 18.27% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest shareholder with 2.4112 million shares, an increase of 1.7864 million shares from the previous period [3].

Core Viewpoint - Yongding Co., Ltd. has shown significant stock price growth and strong financial performance, indicating potential investment opportunities in the telecommunications and power engineering sectors [1][2]. Financial Performance - As of January 14, Yongding's stock price increased by 16.49% year-to-date, with a 7.15% rise over the last five trading days, 45.33% over the last 20 days, and 111.88% over the last 60 days [1]. - For the period from January to September 2025, Yongding achieved a revenue of 3.63 billion yuan, representing a year-on-year growth of 22.13%, and a net profit attributable to shareholders of 329 million yuan, reflecting a substantial increase of 474.30% [2]. Shareholder Information - As of September 30, 2025, Yongding had 158,500 shareholders, an increase of 12.32% from the previous period, with an average of 9,221 circulating shares per shareholder, down by 10.97% [2]. - The company has distributed a total of 1.048 billion yuan in dividends since its A-share listing, with 174 million yuan distributed over the last three years [3]. Major Shareholders - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 24.7766 million shares, an increase of 16.4358 million shares from the previous period [3]. - The fifth-largest circulating shareholder is Guotai CSI Communication Equipment ETF, which is a new shareholder holding 7.0476 million shares [3].

Core Viewpoint - Tian Tong Co., Ltd. has experienced a decline in stock price and financial performance, with significant changes in shareholder structure and market activity [1][2][3] Group 1: Stock Performance - On January 14, Tian Tong's stock price fell by 2.02% to 13.08 CNY per share, with a trading volume of 339 million CNY and a turnover rate of 2.07%, resulting in a total market capitalization of 16.133 billion CNY [1] - Year-to-date, the stock price has decreased by 0.38%, with a 3.89% drop over the last five trading days, an 11.22% increase over the last 20 days, and a 28.24% increase over the last 60 days [1] Group 2: Financial Performance - For the period from January to September 2025, Tian Tong reported a revenue of 2.459 billion CNY, a year-on-year decrease of 3.96%, and a net profit attributable to shareholders of 57.3176 million CNY, down 53.85% year-on-year [2] Group 3: Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 43.58% to 128,100, with an average of 9,630 circulating shares per person, a decrease of 30.35% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 6.4438 million shares to 17.0378 million shares, and Southern CSI 1000 ETF, which decreased its holdings by 113,700 shares to 11.2785 million shares [3]

Core Viewpoint - The colored optical base film industry in China is experiencing an upward trend in market size, driven by the growth of consumer electronics and supported by government policies promoting high-end functional films. However, the growth rate has slowed down from 2022 to 2023, with a gradual recovery expected in 2024, reaching a market size of 4.267 billion yuan, a year-on-year increase of 15% [1][7]. Industry Overview - Colored optical base film is a functional material used in consumer electronics manufacturing, serving roles such as release, protection, identification, and optoelectronic tracking. It is a type of biaxially oriented polyester film (BOPET) available in various colors and specifications, crucial for the production of smartphones, tablets, and laptops [3]. Industry Policies - The government has introduced several policies to support the development of the colored optical base film industry, including the "Guidance Catalog for Industrial Structure Adjustment (2024 Edition)" which encourages high-end functional films [4]. Other policies focus on enhancing the supply capacity of key products in various sectors, including electronic chemicals and high-performance membrane materials [4]. Industry Chain - The industry chain consists of upstream components like polyester chips and additives, midstream production of colored optical base films, and downstream applications in consumer electronics, renewable energy, and photovoltaics. The demand for colored optical base films is expected to rise with the growth of the consumer electronics sector [6][7]. Current Market Status - The market size of the colored optical base film industry has been increasing, primarily due to the rapid updates in consumer electronics and the proliferation of 5G, IoT, and smart wearable devices. However, the growth rate slowed from 2022 to 2023 due to insufficient effective demand, with a recovery anticipated in 2024 [1][7]. Competitive Landscape - The market is predominantly occupied by foreign manufacturers with advanced technology. However, domestic companies like Hangzhou Heshun Technology Co., Ltd. and Jiangsu Yuxing Film Technology Co., Ltd. are emerging as strong competitors, expected to increase R&D investments to enhance market competitiveness [7]. Key Companies - Hangzhou Heshun Technology Co., Ltd. is a leading domestic player in the colored optical base film sector, with a revenue of 135 million yuan in the first half of 2025, a year-on-year increase of 6.53% [9]. Jiangsu Yuxing Film Technology Co., Ltd. is a major manufacturer of functional polyester films, reporting a revenue of 713 million yuan in the first nine months of 2025, a year-on-year decrease of 16.35% [10]. Future Development Trends - The colored optical base film industry is expected to evolve towards lightweight, flexible, and customized products. Innovations in ultra-thin technology and molecular chain structure optimization will enhance the performance of films, meeting the demands of emerging products like foldable phones and wearable devices [10]. Customization will also become a key trend, allowing companies to develop specialized products for different segments of the consumer electronics market [10].