Company Overview - Hengyin Technology Co., Ltd. is located in Tianjin Free Trade Zone and was established on May 12, 2004. The company was listed on September 20, 2017. Its main business involves providing smart banking solutions centered around financial self-service equipment [1][2]. Financial Performance - For the first half of 2025, Hengyin Technology achieved operating revenue of 191 million yuan, representing a year-on-year growth of 6.29%. The net profit attributable to shareholders was 14.31 million yuan, showing a significant increase of 139.05% year-on-year [2]. - Since its A-share listing, Hengyin Technology has distributed a total of 65.12 million yuan in dividends, with 15.62 million yuan distributed over the past three years [3]. Stock Performance - As of September 3, Hengyin Technology's stock price was 10.96 yuan per share, with a market capitalization of 5.705 billion yuan. The stock has increased by 39.80% year-to-date but has seen a decline of 10.02% over the past five trading days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on June 25, where it recorded a net purchase of 11.19 million yuan [1]. Shareholder Information - As of June 30, 2025, Hengyin Technology had 58,200 shareholders, an increase of 4.80% from the previous period. The average number of circulating shares per shareholder was 8,937, a decrease of 4.58% [2]. - Among the top ten circulating shareholders, Huabao Zhongzheng Financial Technology Theme ETF holds 2.24 million shares, an increase of 239,300 shares compared to the previous period [3].

Company Overview - Hainan Airlines Holding Co., Ltd. is located in Haikou, Hainan Province, and was established on December 29, 1995, with its listing date on November 25, 1999 [2] - The company's main business includes scheduled and non-scheduled air passenger and cargo transportation, with revenue composition: passenger transport and others 89.32%, air cargo and excess baggage 3.78%, aircraft maintenance and related services 2.96%, others 2.02%, aircraft leasing 1.66%, and property leasing 0.27% [2] - As of June 30, 2025, the number of shareholders is 583,500, a decrease of 5.71% from the previous period [2] Financial Performance - For the first half of 2025, Hainan Airlines achieved operating revenue of 33.083 billion yuan, a year-on-year increase of 4.22% [2] - The net profit attributable to the parent company for the same period was 56.945 million yuan, representing a year-on-year growth of 108.95% [2] - Cumulatively, the company has distributed 3.424 billion yuan in dividends since its A-share listing, with no dividends distributed in the past three years [3] Stock Performance - On September 3, Hainan Airlines' stock price fell by 2.53%, trading at 1.54 yuan per share, with a total market capitalization of 66.552 billion yuan [1] - Year-to-date, the stock price has decreased by 9.41%, with a 1.91% decline over the last five trading days, a 1.32% increase over the last 20 days, and a 12.41% increase over the last 60 days [1] - The company has appeared on the trading leaderboard once this year, with the most recent occurrence on July 24, where it recorded a net purchase of 1.16 billion yuan [1]

Core Viewpoint - Beijing Urban Construction Development Co., Ltd. has shown significant growth in revenue and net profit for the first half of 2025, indicating strong operational performance in the real estate sector [2]. Group 1: Stock Performance - On September 2, the stock price of Beijing Urban Construction Development rose by 2.19%, reaching 5.13 CNY per share, with a trading volume of 283 million CNY and a turnover rate of 2.69%, resulting in a total market capitalization of 10.649 billion CNY [1]. - Year-to-date, the stock price has increased by 1.58%, with a 0.59% rise over the last five trading days, a 12.01% increase over the last 20 days, and a 19.30% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to June 2025, the company achieved a revenue of 12.760 billion CNY, representing a year-on-year growth of 95.70%, while the net profit attributable to shareholders was 608 million CNY, reflecting a remarkable increase of 541.85% [2]. - Cumulatively, since its A-share listing, the company has distributed a total of 5.243 billion CNY in dividends, with 519 million CNY distributed over the past three years [3]. Group 3: Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 48,500, up by 3.26% from the previous period, while the average number of circulating shares per shareholder decreased by 3.15% to 42,826 shares [2]. - The top ten circulating shareholders include notable entities such as the Southern CSI Real Estate ETF, which increased its holdings by 528,800 shares, and new entrants like Hong Kong Central Clearing Limited and Southern CSI 1000 ETF [3].

Core Viewpoint - Tianjin Port's stock price has experienced fluctuations, with a recent decline of 2.13% on September 1, 2023, and a total market capitalization of 14.615 billion yuan [1][2]. Financial Performance - Year-to-date, Tianjin Port's stock price has increased by 5.96%, but it has seen a decline of 8.51% over the last five trading days. In the last 20 days, the stock rose by 8.84%, and over the last 60 days, it increased by 13.84% [2]. - For the first half of 2025, Tianjin Port reported operating revenue of 6.178 billion yuan, reflecting a year-on-year growth of 4.33%. However, the net profit attributable to shareholders decreased by 18.33% to 503 million yuan [2]. Business Overview - Tianjin Port, established on September 29, 1982, and listed on June 14, 1996, is located in the Binhai New Area of Tianjin. Its main business activities include commodity storage, intermodal transport, automobile transportation, loading and unloading, container handling, freight forwarding, and economic information consulting [2]. - The revenue composition of Tianjin Port is as follows: loading and unloading services account for 59.05%, sales business for 21.59%, port logistics for 19.66%, and port services and other businesses for 4.48% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Tianjin Port was 78,300, an increase of 2.37% from the previous period. The average circulating shares per person decreased by 2.32% to 36,959 shares [2]. - The cumulative cash distribution since the A-share listing amounts to 5.133 billion yuan, with 819 million yuan distributed over the last three years [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the second-largest shareholder with 60.3341 million shares, a decrease of 1.8046 million shares from the previous period [3].

Company Overview - Guangzhou Metro Design Research Institute Co., Ltd. is located in Baiyun District, Guangzhou, Guangdong Province, and was established on August 6, 1993. The company was listed on October 22, 2020 [2] - The main business areas include urban rail transit, municipal engineering, and construction, focusing on surveying and design, planning consulting, and general contracting [2] - The revenue composition is as follows: surveying and design 81.97%, general contracting 16.07%, planning consulting 1.90%, and others 0.06% [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 1.317 billion yuan, representing a year-on-year growth of 5.31% [2] - The net profit attributable to the parent company was 221 million yuan, with a year-on-year increase of 6.58% [2] - Since its A-share listing, the company has distributed a total of 996 million yuan in dividends, with 572 million yuan distributed over the past three years [2] Stock Performance - As of September 1, the stock price of the company increased by 2.05%, reaching 15.93 yuan per share, with a total market capitalization of 6.505 billion yuan [1] - Year-to-date, the stock price has risen by 8.81%, with a 2.15% decline over the last five trading days, a 7.56% increase over the last 20 days, and a 10.70% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on February 20, where it recorded a net buy of -30.4394 million yuan [1] Shareholder Information - As of August 20, the number of shareholders was 13,500, a decrease of 0.41% from the previous period, while the average circulating shares per person increased by 0.41% to 29,638 shares [2]

Company Overview - Hengyin Technology's stock price increased by 2.32% on September 1, reaching 11.93 CNY per share, with a trading volume of 163 million CNY and a turnover rate of 2.68%, resulting in a total market capitalization of 6.21 billion CNY [1] - The company has seen a year-to-date stock price increase of 52.17%, with a recent decline of 5.02% over the last five trading days, a 16.28% increase over the last 20 days, and a 22.48% increase over the last 60 days [1] - Hengyin Technology has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on June 25, where it recorded a net purchase of 11.19 million CNY [1] Financial Performance - For the first half of 2025, Hengyin Technology reported a revenue of 191 million CNY, representing a year-on-year growth of 6.29%, and a net profit attributable to shareholders of 14.31 million CNY, which is a significant increase of 139.05% [2] - The company has distributed a total of 65.12 million CNY in dividends since its A-share listing, with 15.62 million CNY distributed over the past three years [3] Shareholder Information - As of June 30, 2025, Hengyin Technology had 58,200 shareholders, an increase of 4.80% from the previous period, with an average of 8,937 circulating shares per shareholder, a decrease of 4.58% [2] - The top ten circulating shareholders include notable funds such as Huabao Zhongzheng Financial Technology Theme ETF and Dacheng Zhongzheng 360 Internet+ Index A, with changes in their holdings noted [3] Business Segments - Hengyin Technology's main business involves providing smart banking solutions centered around financial self-service equipment, with revenue breakdown as follows: cash-related equipment and services (64.30%), non-cash-related equipment and services (18.01%), equipment parts (14.24%), and technical services and others (3.46%) [1]

Core Viewpoint - ST Lingnan reported a significant decline in revenue and negative net profit for the first half of 2025, indicating ongoing financial challenges for the company [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 179 million yuan, a year-on-year decrease of 70.79% [1]. - The net profit attributable to shareholders was -128 million yuan, an increase of 50.02% compared to the previous year, while the net profit excluding non-recurring items was also -128 million yuan, up 49.62% year-on-year [1]. - Basic earnings per share were -0.07 yuan, with a weighted average return on equity of -12.82% [1]. - The gross margin for the first half of 2025 was -10.69%, down 15.01 percentage points year-on-year, and the net margin was -73.57%, a decrease of 30.98 percentage points compared to the same period last year [1]. Quarterly Analysis - In Q2 2025, the gross margin was -17.07%, a decline of 20.36 percentage points year-on-year and a 16.88 percentage point decrease from the previous quarter [1]. - The net margin for Q2 was -55.88%, down 1.06 percentage points year-on-year but up 46.79 percentage points from the previous quarter [1]. Expense Management - Total expenses for the first half of 2025 were 203 million yuan, a reduction of 72.3 million yuan compared to the same period last year [2]. - The expense ratio was 113.39%, an increase of 68.47 percentage points year-on-year [2]. - Sales expenses decreased by 66.26%, management expenses fell by 13.64%, R&D expenses dropped by 70.68%, and financial expenses were down by 24.55% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 160,500, a decrease of 65,700 or 29.06% from the previous quarter [2]. - The average market value per shareholder decreased from 26,300 yuan at the end of the previous quarter to 20,800 yuan, a decline of 21.12% [2]. Company Overview - ST Lingnan, established on July 20, 1998, and listed on February 19, 2014, is based in Dongguan, Guangdong Province [2]. - The company's main business includes landscaping and cultural creative services, with revenue sources comprising 52.72% from ecological environment construction and restoration, 42.33% from water management, and 4.95% from cultural tourism [2]. - The company is classified under the construction decoration industry, specifically in landscaping engineering, and is associated with concepts such as water conservancy construction and PPP [2].

Core Insights - The company reported a decline in revenue and net profit for the first half of 2025, with total revenue at 288 million yuan, down 10.61% year-on-year, and a net loss of 74.43 million yuan, a decrease of 23.19% year-on-year [1][2]. Financial Performance - Basic earnings per share for the first half of 2025 were -0.46 yuan, with a weighted average return on equity of -7.52% [2]. - The company's gross margin was 5.59%, down 7.63 percentage points year-on-year, while the net margin was -26.00%, a decline of 7.56 percentage points compared to the previous year [2]. - In Q2 2025, the gross margin dropped to 0.96%, down 12.95 percentage points year-on-year and 7.98 percentage points quarter-on-quarter, with a net margin of -48.40%, a decrease of 26.10 percentage points year-on-year and 38.60 percentage points quarter-on-quarter [2]. Cost Management - Total operating expenses for the first half of 2025 were 37.06 million yuan, a reduction of 18.68 million yuan year-on-year, with an expense ratio of 12.86%, down 4.43 percentage points from the previous year [2]. - Sales expenses decreased by 31.17%, management expenses fell by 4.34%, R&D expenses dropped by 42.09%, and financial expenses decreased by 965.33% [2]. Shareholder Dynamics - As of the end of the first half of 2025, the total number of shareholders was 9,637, a decrease of 4,486 shareholders or 31.76% from the previous quarter, while the average market value per shareholder increased from 105,300 yuan to 217,000 yuan, an increase of 106.16% [3]. Company Overview - The company, Hangzhou Garden Landscape Co., Ltd., is located in Hangzhou, Zhejiang Province, and was established on September 28, 1992. It was listed on March 1, 2021 [3]. - The main business activities include landscape engineering construction, landscape design, flower seedling research and production, and landscape maintenance, with the revenue composition being 87.85% from municipal engineering, 5.33% from operation and maintenance, and smaller contributions from other segments [3].

Core Viewpoint - Qinhuangdao Port Co., Ltd. is a state-owned enterprise that provides integrated port services and is positioned to benefit from initiatives like the Belt and Road Initiative and regional integration efforts in China [2][3]. Company Overview - Qinhuangdao Port Co., Ltd. is located in Qinhuangdao, Hebei Province, and offers comprehensive port services including loading, storage, warehousing, transportation, and logistics [2][3][8]. - The company primarily handles various cargo types such as coal, metal ores, oil products, liquid chemicals, containers, and general cargo [2][3][8]. - It is recognized as the world's largest public terminal operator for bulk dry cargo and was the largest public coal terminal globally from 2013 to 2015 [2][3]. Recent Developments - In the past year, the company has been subject to a stake acquisition by Great Wall Life Insurance Co., Ltd., which now holds 5.00% of the total shares [4]. - As of June 30, the company had 50,900 shareholders, a decrease of 2.35% from the previous period [8]. Financial Performance - For the first half of 2025, the company reported a revenue of 3.451 billion yuan, a year-on-year decrease of 0.30%, and a net profit attributable to shareholders of 988 million yuan, down 2.22% year-on-year [8]. - Since its A-share listing, the company has distributed a total of 3.565 billion yuan in dividends, with 1.335 billion yuan distributed over the past three years [9]. Market Activity - On August 29, the company's stock rose by 1.79%, with a trading volume of 136 million yuan and a turnover rate of 0.84%, bringing the total market capitalization to 19.109 billion yuan [1].

Company Overview - Guangzhou Metro Design Institute Co., Ltd. is located in Baiyun District, Guangzhou, Guangdong Province, and was established on August 6, 1993. The company was listed on October 22, 2020. Its main business involves surveying and design, planning consulting, and general contracting in urban rail transit, municipal, and construction fields [1][2]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 1.317 billion yuan, representing a year-on-year growth of 5.31%. The net profit attributable to the parent company was 221 million yuan, with a year-on-year increase of 6.58% [2]. - Since its A-share listing, the company has distributed a total of 996 million yuan in dividends, with 572 million yuan distributed over the past three years [3]. Stock Performance - As of August 29, the stock price of Metro Design fell by 2.01% to 15.57 yuan per share, with a trading volume of 54.1844 million yuan and a turnover rate of 0.86%. The total market capitalization is 6.358 billion yuan [1]. - Year-to-date, the stock price has increased by 6.35%, with a 5-day increase of 5.20%, a 20-day increase of 4.71%, and a 60-day increase of 8.35% [1]. Shareholder Information - As of August 20, the number of shareholders is 13,500, a decrease of 0.41% from the previous period. The average circulating shares per person increased by 0.41% to 29,638 shares [2]. Capital Flow - In terms of capital flow, there was a net outflow of 1.7123 million yuan from main funds, with large orders buying 2.8385 million yuan (5.24% of total) and selling 4.5508 million yuan (8.40% of total) [1].