Core Viewpoint - Yangjie Technology's stock has shown significant volatility, with a year-to-date increase of 56.71% but a recent decline over the past 5 and 20 trading days, indicating potential market fluctuations and investor sentiment changes [1][2]. Financial Performance - For the period from January to September 2025, Yangjie Technology reported a revenue of 5.348 billion yuan, representing a year-on-year growth of 20.89%. The net profit attributable to shareholders was 974 million yuan, reflecting a substantial increase of 45.51% [2]. - Cumulatively, since its A-share listing, Yangjie Technology has distributed a total of 1.717 billion yuan in dividends, with 1.180 billion yuan distributed over the past three years [3]. Shareholder Structure - As of October 31, 2025, the number of shareholders for Yangjie Technology was 58,000, a decrease of 1.69% from the previous period. The average number of circulating shares per shareholder increased by 1.72% to 9,347 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 8.312 million shares, an increase of 390,600 shares from the previous period. Other notable shareholders include E Fund's ChiNext ETF and Southern CSI 500 ETF, with varying changes in their holdings [3]. Market Activity - On November 13, Yangjie Technology's stock price reached 66.92 yuan per share, with a trading volume of 326 million yuan and a turnover rate of 0.91%. The total market capitalization stood at 36.361 billion yuan [1]. - The stock experienced a net outflow of 7.417 million yuan in principal funds, with significant buying and selling activity from large orders [1]. Business Overview - Yangjie Technology, established on August 2, 2006, and listed on January 23, 2014, specializes in the research, production, and sales of power semiconductor silicon wafers, chips, and devices, as well as integrated circuit packaging and testing [1]. - The company's revenue composition is primarily from semiconductor devices (88.05%), followed by semiconductor chips (7.34%), silicon wafers (2.59%), and other sources (2.02%) [1]. Industry Position - Yangjie Technology operates within the electronic-semiconductor-discrete devices sector and is associated with concepts such as silicon carbide, IGBT, automotive chips, gallium nitride, and SMIC [1].

Core Viewpoint - BYD's stock price has shown fluctuations with a year-to-date increase of 7.36%, while recent trends indicate a decline over the past 20 and 60 days [1][2]. Financial Performance - For the period from January to September 2025, BYD achieved a revenue of 566.27 billion yuan, representing a year-on-year growth of 12.75%. However, the net profit attributable to shareholders decreased by 7.55% to 23.33 billion yuan [2]. - Cumulative cash dividends since BYD's A-share listing amount to 27.86 billion yuan, with 24.41 billion yuan distributed over the last three years [3]. Shareholder Information - As of September 30, 2025, BYD had 642,600 shareholders, an increase of 98.37% from the previous period, with an average of 5,427 circulating shares per person, up by 51.21% [2]. - The fourth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 265 million shares, an increase of 137 million shares from the previous period [3]. Stock Market Activity - On November 13, BYD's stock rose by 2.00% to 99.73 yuan per share, with a trading volume of 1.702 billion yuan and a turnover rate of 0.50%. The total market capitalization reached 909.26 billion yuan [1]. - The net outflow of main funds was 61.41 million yuan, with large orders showing a buy of 359 million yuan and a sell of 402 million yuan [1].

Core Viewpoint - Tianyue Advanced's stock price has shown volatility, with a year-to-date increase of 41.35%, but a recent decline in revenue and profit raises concerns about its financial health [1][2]. Company Overview - Tianyue Advanced Technology Co., Ltd. is located in Jinan, Shandong Province, and was established on November 2, 2010. It was listed on January 12, 2022. The company specializes in the research, production, and sales of silicon carbide substrates [1]. - The main business revenue composition includes 82.83% from silicon carbide semiconductor materials and 17.17% from other supplementary sources [1]. Stock Performance - As of November 12, the stock price was 72.37 CNY per share, with a market capitalization of 35.072 billion CNY. The stock has experienced a 2.00% decline during the trading session [1]. - Year-to-date, the stock has increased by 41.35%, with a recent 6.27% rise over the last five trading days, but a 5.93% decline over the last 20 days [1]. Financial Performance - For the period from January to September 2025, Tianyue Advanced reported a revenue of 1.112 billion CNY, a year-on-year decrease of 13.21%. The net profit attributable to shareholders was 1.1199 million CNY, down 99.22% year-on-year [2]. - The number of shareholders increased by 73.90% to 29,600, while the average circulating shares per person decreased by 17.70% to 14,537 shares [2]. Institutional Holdings - As of September 30, 2025, major institutional shareholders include E Fund's SSE STAR 50 ETF and Huaxia's SSE STAR 50 Component ETF, with significant reductions in their holdings [2].

Core Viewpoint - The stock of Sda Semiconductor has experienced fluctuations, with a recent decline of 2.01% and a year-to-date increase of 12.76%, indicating mixed market sentiment and performance [1][2]. Financial Performance - For the period from January to September 2025, Sda Semiconductor reported a revenue of 2.99 billion yuan, representing a year-on-year growth of 23.82%. However, the net profit attributable to shareholders decreased by 9.80% to 382 million yuan [2]. - Cumulative cash dividends since the company's A-share listing amount to 885 million yuan, with 671 million yuan distributed over the past three years [3]. Shareholder and Market Activity - As of September 30, 2025, the number of shareholders increased by 21.67% to 65,600, while the average circulating shares per person decreased by 17.81% to 3,649 shares [2]. - The stock's trading activity shows a net outflow of 17.2 million yuan from main funds, with significant buying and selling from large orders [1]. Company Overview - Sda Semiconductor, established on April 27, 2005, and listed on February 4, 2020, specializes in the design, research, and production of power semiconductor chips and modules, primarily focusing on IGBT technology [1]. - The company's revenue composition is heavily weighted towards modules, accounting for 98.12%, with other products making up 1.88% [1]. Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, which reduced its holdings by 1.1 million shares, and new entrants like Guolian An Semiconductor ETF [3].

Core Viewpoint - 京运通's stock price has shown significant growth this year, with a 50.82% increase, and the company is actively involved in high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1][2]. Financial Performance - For the period from January to September 2025, 京运通 reported a revenue of 2.457 billion yuan, a year-on-year decrease of 37.55%, while the net profit attributable to shareholders was -227 million yuan, reflecting an 83.86% year-on-year increase [2]. - The company has distributed a total of 810 million yuan in dividends since its A-share listing, with 31.39 million yuan distributed over the past three years [3]. Stock Market Activity - 京运通's stock price increased by 2.45% to 4.60 yuan per share, with a trading volume of 70.58 million yuan and a turnover rate of 0.64% as of November 11 [1]. - The company has appeared on the龙虎榜 (a stock trading list) 10 times this year, with the most recent appearance on September 17, where it recorded a net purchase of 130 million yuan [1]. Shareholder Structure - As of September 30, 2025, 京运通 had 144,900 shareholders, an increase of 11.26% from the previous period, with an average of 16,667 circulating shares per shareholder, a decrease of 10.12% [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited being the third-largest shareholder, holding 18.40 million shares, a decrease of 849,000 shares from the previous period [3].

Core Viewpoint - Jinbo Co., Ltd. has shown a significant increase in stock price and revenue, but has faced a substantial decline in net profit, indicating potential challenges ahead in profitability despite growth in sales [1][2]. Group 1: Stock Performance - On November 11, Jinbo's stock price increased by 2.02%, reaching 31.78 CNY per share, with a total market capitalization of 6.597 billion CNY [1]. - Year-to-date, Jinbo's stock price has risen by 50.90%, with a 5-day increase of 5.37%, a 20-day decline of 8.47%, and a 60-day increase of 18.58% [1]. Group 2: Financial Performance - For the period from January to September 2025, Jinbo achieved a revenue of 618 million CNY, reflecting a year-on-year growth of 40.34% [2]. - The net profit attributable to shareholders for the same period was -276 million CNY, representing a year-on-year decrease of 88.84% [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of Jinbo's shareholders increased to 14,300, up by 7.13%, while the average circulating shares per person decreased by 6.66% to 14,262 shares [2]. - The company has distributed a total of 104 million CNY in dividends since its A-share listing, with 23.5185 million CNY distributed over the past three years [3]. Group 4: Major Shareholders - As of September 30, 2025, the third-largest circulating shareholder is Invesco Great Wall New Energy Industry Fund A, holding 4.1106 million shares, a decrease of 3,308 shares from the previous period [3]. - Hong Kong Central Clearing Limited is the seventh-largest shareholder with 2.5861 million shares, down by 417,800 shares, while Guotai Junan Growth Flexible Allocation Mixed Fund is a new eighth-largest shareholder with 2.5846 million shares [3].

Core Viewpoint - Tianfu Energy's stock has experienced fluctuations, with a current price of 8.76 CNY per share, reflecting a year-to-date increase of 36.55% but a recent decline over the past 20 days [1][2]. Financial Performance - For the period from January to September 2025, Tianfu Energy reported a revenue of 5.929 billion CNY, a year-on-year decrease of 12.10%, and a net profit attributable to shareholders of 374 million CNY, down 24.23% compared to the previous year [2]. Shareholder Information - As of October 31, 2025, the number of shareholders for Tianfu Energy stands at 70,000, with an average of 19,634 circulating shares per shareholder, showing no change from the previous period [2]. Stock Market Activity - On November 10, 2025, Tianfu Energy's stock saw a decline of 2.01% during trading, with a trading volume of 209 million CNY and a turnover rate of 1.71% [1]. Capital Flow - The net outflow of main funds was 6.09 million CNY, with large orders showing a buy of 51.55 million CNY and a sell of 50.56 million CNY, indicating active trading [1]. Business Overview - Tianfu Energy, established on March 28, 1999, and listed on February 28, 2002, operates primarily in power and heat production, natural gas supply, urban water supply, and construction [1]. The revenue composition is 80.82% from industrial, 13.58% from commercial, 4.42% from construction, and 1.17% from other sources [1].

Core Insights - BYD's stock price increased by 2.04% on November 10, reaching 99.18 CNY per share, with a total market capitalization of 904.24 billion CNY [1] - The company has seen a year-to-date stock price increase of 6.77%, but has experienced declines of 1.60% over the past five trading days, 7.99% over the past twenty days, and 5.84% over the past sixty days [1] - BYD's revenue for the first nine months of 2025 was 566.27 billion CNY, a year-on-year increase of 12.75%, while net profit attributable to shareholders decreased by 7.55% to 233.33 billion CNY [2] Financial Performance - BYD has cumulatively distributed 27.86 billion CNY in dividends since its A-share listing, with 24.41 billion CNY distributed over the past three years [3] - As of September 30, 2025, BYD's top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 137 million shares to 265 million shares [3] Business Overview - BYD, founded on February 10, 1995, and listed on June 30, 2011, operates primarily in the electric vehicle and battery sectors, with automotive-related products accounting for 81.48% of its revenue [2] - The company is categorized under the automotive industry, specifically in electric passenger vehicles, and is involved in various concept sectors including automotive finance and ride-hailing [2]

Core Viewpoint - The stock of Pirey Co., Ltd. has experienced a decline of 11.80% year-to-date, with recent trading showing mixed performance, indicating potential volatility in the semiconductor sector [1][2]. Financial Performance - For the period from January to September 2025, Pirey Co., Ltd. reported a revenue of 102 million yuan, representing a year-on-year decrease of 32.88% [2]. - The net profit attributable to the parent company for the same period was 20.11 million yuan, down 61.73% year-on-year [2]. Stock Market Activity - As of November 7, the stock price of Pirey Co., Ltd. was 14.16 yuan per share, with a market capitalization of 4.531 billion yuan [1]. - The stock has seen a trading volume of 81.02 million yuan and a turnover rate of 3.08% on the same day [1]. - The net outflow of main funds was 15.64 million yuan, with significant selling pressure observed [1]. Shareholder Information - As of October 20, the number of shareholders for Pirey Co., Ltd. was 32,100, a decrease of 1.43% from the previous period [2]. - The average number of circulating shares per shareholder increased by 1.45% to 5,754 shares [2]. Dividend Distribution - Since its A-share listing, Pirey Co., Ltd. has distributed a total of 58.02 million yuan in dividends, with 31.78 million yuan distributed over the past three years [3]. Company Overview - Pirey Co., Ltd. specializes in the research, production, testing, and sales of power semiconductor devices and systems, with 91.60% of its revenue coming from power electronic devices [1]. - The company is categorized under the semiconductor industry, focusing on concepts such as silicon carbide and third-generation semiconductors [1].

Core Viewpoint - Sanan Optoelectronics has shown a mixed performance in stock price and financial results, with a notable increase in revenue but a significant decline in net profit [1][2]. Financial Performance - As of September 30, 2025, Sanan Optoelectronics achieved a revenue of 13.82 billion yuan, representing a year-on-year growth of 16.55% [2]. - The net profit attributable to shareholders for the same period was 88.61 million yuan, reflecting a year-on-year decrease of 64.15% [2]. - The company has distributed a total of 7 billion yuan in dividends since its A-share listing, with 486 million yuan distributed over the past three years [3]. Stock Market Activity - On November 7, the stock price of Sanan Optoelectronics increased by 2.05%, reaching 13.97 yuan per share, with a trading volume of 500 million yuan and a turnover rate of 0.73% [1]. - The stock has seen a year-to-date increase of 14.97%, a slight increase of 0.72% over the last five trading days, a decline of 9.29% over the last 20 days, and a rise of 9.40% over the last 60 days [1]. Shareholder Information - The number of shareholders as of September 30, 2025, was 379,600, an increase of 8.15% from the previous period, while the average number of circulating shares per person decreased by 7.53% to 13,141 shares [2]. - Hong Kong Central Clearing Limited is the seventh largest circulating shareholder, having newly acquired 97.78 million shares [3]. Business Overview - Sanan Optoelectronics, established on March 27, 1993, and listed on May 28, 1996, is based in Xiamen, Fujian Province, and specializes in the research, production, and sales of compound semiconductor materials and devices [1]. - The company's revenue composition includes 35.96% from material and waste sales, 30.88% from LED epitaxial chips, 16.68% from integrated circuit products, 15.92% from LED application products, and 0.56% from rental, property, and services [1].