Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing growth in revenue and profit, driven by its technological advancements in high-speed cables and optical products, as well as benefiting from the depreciation of the RMB [2][3][7]. Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. The company specializes in the design, manufacturing, and sales of data cables, specialized cables, and connection products [7]. - The revenue composition includes: 43.60% from category 6 and below data communication cables, 20.81% from category 6A and above, 18.04% from specialized cables, 11.62% from connection products, and 5.94% from other sources [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28%. The net profit attributable to the parent company was 138 million yuan, with a year-on-year increase of 53.82% [7]. - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8]. Market Position and Strategy - The company has established itself as a core partner in the active cable (AEC) sector for leading international interconnect solution providers, leveraging its technological expertise in high-speed cable [2]. - The company’s optical products serve high-end domestic markets, including financial systems, higher education, and healthcare, while also expanding into overseas markets [2]. - Zhaolong Interconnect is one of the few companies capable of designing and manufacturing data cables up to category 8, meeting the new data transmission demands of the 5G era [2]. Shareholder and Market Activity - As of September 30, 2025, the number of shareholders increased to 38,100, with an average of 6,721 shares per shareholder, a decrease of 7.49% from the previous period [7]. - The stock has seen a net outflow of 3.5246 million yuan from major investors today, with a total of 15.63 billion yuan net inflow in the industry, indicating a lack of clear trend in major investor activity [4][5].

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing growth in revenue and profit, driven by its technological advancements in high-speed cables and optical products, as well as benefiting from the depreciation of the RMB. Group 1: Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. The company specializes in the design, manufacturing, and sales of data cables, special cables, and connection products [7] - The revenue composition includes: 43.60% from category 6 and below data communication cables, 20.81% from category 6A and above, 18.04% from special cables, 11.62% from connection products, and 5.94% from other sources [7] - As of September 30, 2025, the company had 38,100 shareholders, an increase of 8.59% from the previous period, with an average of 6,721 circulating shares per shareholder, a decrease of 7.49% [7] Group 2: Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28%, and a net profit attributable to shareholders of 138 million yuan, up 53.82% year-on-year [7] - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8] Group 3: Market Position and Product Offerings - The company has established itself as a core partner for international leading interconnect solution providers in the active cable (AEC) sector, leveraging its technological expertise in high-speed cable [2] - The optical products offered by the company include fiber optic jumpers, MPO/MTP pre-terminated cables, and LC fiber optic connectors, primarily serving high-end projects in finance, education, healthcare, and exhibitions, while also expanding into overseas markets [2] - The company is one of the few in China capable of designing and manufacturing data cables exceeding category 6, 7, and even 8, meeting the new data transmission demands of the 5G era [2] Group 4: Investment and Market Trends - The company benefits from the depreciation of the RMB, with overseas revenue accounting for 61.93% of total revenue as of the 2024 annual report [3] - The stock has seen a recent increase in trading activity, with a turnover rate of 0.90% and a total market capitalization of 15.229 billion yuan [1]

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing fluctuations in stock performance and is positioned as a key player in the high-speed cable and optical fiber sectors, benefiting from the depreciation of the RMB and expanding its overseas market presence. Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. The company specializes in the design, manufacturing, and sales of data cables, special cables, and connection products [7] - The revenue composition includes: 43.60% from category 6 and below data communication cables, 20.81% from category 6A and above, 18.04% from special cables, 11.62% from connection products, and 5.94% from other sources [7] - As of September 30, 2025, the company had 38,100 shareholders, an increase of 8.59% from the previous period, with an average of 6,721 circulating shares per shareholder, a decrease of 7.49% [7] Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28%, and a net profit attributable to shareholders of 138 million yuan, up 53.82% year-on-year [7] - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8] Market Position and Trends - The company is recognized as one of the few in China capable of designing and manufacturing data cables of category 6, 7, and beyond, meeting the new data transmission demands of the 5G era [2] - The company’s optical products include fiber jumpers, MPO/MTP pre-terminated connectors, and LC fiber connectors, primarily serving high-end projects in finance, education, healthcare, and exhibitions, while also expanding into overseas markets [2] - The company’s machine vision products are already in mass production for various machine vision connection system solutions [2] Stock Performance and Trading Activity - On November 14, the stock price of Zhaolong Interconnect fell by 2.33%, with a trading volume of 119 million yuan and a turnover rate of 0.95%, bringing the total market capitalization to 15.173 billion yuan [1] - The average trading cost of the stock is 56.48 yuan, with recent trading showing a decrease in holdings but at a slowing rate. The current stock price is between resistance at 51.55 yuan and support at 46.66 yuan, indicating potential for range trading [6]

Market Performance - The major indices showed mixed results, with the Shanghai Composite Index closing at 4018.60, up by 0.53% [2] - The Shenzhen Component Index closed at 13427.61, up by 0.18%, while the ChiNext Index fell by 0.92% to 3178.83 [2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.17 trillion, an increase of 175.4 billion compared to the previous trading day [6] Sector Performance - The top-performing sectors included Beauty Care (3.60%), Food and Beverage (3.22%), and Retail (2.69%) [3] - Conversely, the sectors that underperformed were Electric Equipment (-1.09%), Machinery Equipment (-0.71%), and Electronics (-0.51%) [3] - Concept indices showed strong performance in Dairy (4.36%), Cultivated Diamonds (3.46%), and Liquor Concepts (3.01%), while the weakest were in the Fruit Index (-1.56%) and High-Speed Copper Cable Connection (-1.50%) [3] Market Outlook - The market is expected to gradually improve in the fourth quarter, supported by proactive policies, aiming for an annual economic growth target of around 5% [6] - Positive policy signals are anticipated to reshape the investment themes and valuation systems in the capital market, boosting market risk appetite [6] - Defensive sectors such as Finance and Coal, along with low-positioned sectors like Food and Beverage, are recommended for attention [6] Economic Indicators - In October 2025, the national consumer price index (CPI) rose by 0.2% year-on-year and month-on-month [5] - The producer price index (PPI) decreased by 2.1% year-on-year, with the decline narrowing by 0.2 percentage points compared to the previous month [5]

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing fluctuations in stock performance and is positioned as a key player in the high-speed cable and optical fiber sectors, benefiting from the depreciation of the RMB and expanding its overseas market presence [1][3]. Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. The company specializes in the design, manufacturing, and sales of data cables, specialized cables, and connection products [7]. - The revenue composition includes: 43.60% from category 6 and below data communication cables, 20.81% from category 6A and above, 18.04% from specialized cables, 11.62% from connection products, and 5.94% from other sources [7]. - As of September 30, 2025, the company reported a revenue of 1.518 billion yuan, a year-on-year increase of 13.28%, and a net profit attributable to shareholders of 138 million yuan, up 53.82% year-on-year [7]. Market Position and Performance - The company has become a core partner for international leading interconnect solution providers in the active cable (AEC) sector due to its technological accumulation in high-speed cable [2]. - The company’s optical products include fiber jumpers, MPO/MTP pre-terminated connectors, and LC fiber connectors, primarily serving high-end projects in finance, education, healthcare, and exhibitions, while also expanding into overseas markets [2]. - The company is one of the few in China capable of designing and manufacturing data cables of category 6, 7, and 8, meeting the new data transmission demands of the 5G era [2]. Financial and Investment Insights - The company’s overseas revenue accounted for 61.93% of total revenue in the 2024 annual report, benefiting from the depreciation of the RMB [3]. - The average trading cost of the stock is 56.78 yuan, with recent reductions in holdings but at a slowing rate. The stock price is approaching a resistance level of 50.98 yuan, indicating potential for upward movement if this level is breached [6]. - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8].

Market Performance - The copper cable high-speed connection concept declined by 1.50%, ranking among the top losers in the concept sector [1] - Notable stocks that experienced significant declines include Ding Tong Technology, Zhongfu Circuit, and Hui Lv Ecology, while stocks that increased include Hangjin Technology, AVIC Optoelectronics, and Tongyu Communication, with respective gains of 3.15%, 1.20%, and 1.18% [1][2] Concept Sector Overview - The top-performing concept sectors today included dairy (up 4.36%), cultivated diamonds (up 3.46%), and liquor (up 3.01%), while the worst performers included the copper cable high-speed connection (down 1.50%) and wireless charging (down 1.26%) [1] - The copper cable high-speed connection sector saw a net outflow of 2.296 billion yuan, with 35 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 100 million yuan [1][2] Fund Flow Analysis - The stock with the highest net outflow was Luxshare Precision, with a net outflow of 588.75 million yuan, followed by Huagong Technology and Huafeng Technology with net outflows of 306.13 million yuan and 222.10 million yuan, respectively [1][2] - Conversely, the stocks with the highest net inflows included Hangjin Technology, Tongyu Communication, and Shaanxi Huada, with net inflows of 59.96 million yuan, 26.45 million yuan, and 9.28 million yuan, respectively [1][2] Individual Stock Performance - Notable stocks with significant net outflows include: - Luxshare Precision: -2.50% with a turnover rate of 2.11% and a net outflow of 586.52 million yuan - Huagong Technology: -1.86% with a turnover rate of 3.82% and a net outflow of 306.14 million yuan - Huafeng Technology: -3.81% with a turnover rate of 7.84% and a net outflow of 222.11 million yuan [2] - Stocks with positive performance include: - Hangjin Technology: +3.15% with a turnover rate of 3.68% and a net inflow of 59.96 million yuan - Tongyu Communication: +1.18% with a turnover rate of 11.86% and a net inflow of 26.45 million yuan [2]

Group 1 - The Tonghuashun Fruit Index concept fell by 1.56%, ranking among the top declines in concept sectors, with leading decliners including XW Communication, Lante Optics, and Lens Technology [1] - The top gainers in the same day included Wentai Technology, Saiteng Co., and Dongshan Precision, with respective increases of 3.02%, 1.53%, and 1.36% [1] - The dairy industry led the gainers with a rise of 4.36%, while the Tonghuashun Fruit Index was the largest decliner [1] Group 2 - The Tonghuashun Fruit Index concept experienced a net outflow of 4.158 billion yuan, with 15 stocks seeing net outflows, and 7 stocks exceeding 1 billion yuan in outflows [1] - Industrial Fulian had the highest net outflow of 2.247 billion yuan, followed by Luxshare Precision, GoerTek, and XW Communication with net outflows of 588 million yuan, 571 million yuan, and 392 million yuan respectively [1] - The stocks with the highest net inflows included BOE Technology Group, Wentai Technology, and Saiteng Co., with net inflows of 444 million yuan, 113 million yuan, and 6.247 million yuan respectively [1][2]

Core Viewpoint - The A-share market experienced a collective decline in the morning session, with major indices showing negative performance, while certain sectors such as consumer goods and chemicals saw gains [1] Market Performance - The Shanghai Composite Index fell by 0.03%, the Shenzhen Component Index decreased by 0.59%, and the ChiNext Index dropped by 2.13% [1] - The total trading volume across the Shanghai and Shenzhen markets reached 1.4544 trillion yuan, an increase of 188.3 billion yuan compared to the previous day [1] - Over 2,900 stocks in the market recorded gains [1] Sector Performance - The consumer goods sector, including dairy, duty-free shops, and liquor, showed strong performance, with stocks like China Duty Free Group, Dongbai Group, and San Yuan Co. hitting the daily limit [1] - The chemical sector remained active, particularly in phosphate and fluorine chemicals, with stocks such as Chengxing Shares achieving three consecutive limit-ups [1] - The silicon energy sector also performed well, with Hongyuan Green Energy achieving two consecutive limit-ups, and stocks like Yijing Photovoltaic and Guosheng Technology hitting the daily limit [1] Declining Sectors - The computing hardware sector, including CPO and copper cable connections, collectively weakened, with stocks like New Yisheng and Shenghong Technology showing significant declines [1] - The humanoid robot concept stocks also performed poorly, with Zhejiang Rongtai hitting the daily limit down, and companies like Top Group and Sanhua Intelligent Control leading the declines [1]

Core Viewpoints - The A-share market saw all three major indices rise on Thursday, with the Shanghai Composite Index up by 0.22%, the Shenzhen Component Index also up by 0.22%, and the ChiNext Index rising by 0.09%. The total trading volume in the Shanghai and Shenzhen markets reached 16,436.84 billion yuan [2][8] - In terms of industry performance, coal, oil and petrochemicals, and social services led the gains, while telecommunications, real estate, and building materials lagged behind. Concept sectors such as Shenzhen state-owned enterprise reform, horse racing concepts, and MLOps saw significant increases, while cultivated diamonds, CPO, and copper cable high-speed connections experienced notable declines [2][8] - The Hong Kong market also performed positively, with the Hang Seng Index rising by 0.72% and the Hang Seng Technology Index increasing by 0.48%. In overseas markets, all three major US indices closed higher, with the Dow Jones up by 0.31%, the S&P 500 up by 0.58%, and the Nasdaq up by 0.89% [2][8] Important News - The 20th Central Committee's Fourth Plenary Session released a communiqué outlining the main goals for the "14th Five-Year Plan" period, emphasizing significant achievements in high-quality development, enhanced self-reliance in technology, and new breakthroughs in comprehensive deepening of reforms. By 2035, the aim is to significantly elevate China's economic, technological, defense, comprehensive national strength, and international influence, with per capita GDP reaching the level of moderately developed countries [3][9] - A delegation led by Vice Premier He Lifeng will visit Malaysia from October 24 to 27 for economic and trade consultations with the US, focusing on important issues in Sino-US economic relations as agreed upon in previous communications between the two countries' leaders [3][9]

Group 1 - The copper cable high-speed connection concept declined by 1.24%, ranking among the top declines in the concept sector as of the market close on October 23 [1] - Within the sector, companies such as Changfei Fiber, Dingtong Technology, and Huafeng Technology experienced significant declines, while Baosheng Co., Far East Co., and Zhongtian Technology saw increases of 1.65%, 0.80%, and 0.80% respectively [1][2] - The copper cable high-speed connection sector experienced a net outflow of 1.259 billion yuan, with 31 stocks seeing net outflows, and 8 stocks with outflows exceeding 50 million yuan [2] Group 2 - The top net outflow stocks in the copper cable high-speed connection sector included Changying Precision with a net outflow of 271 million yuan, Huagong Technology with 241 million yuan, and Changxin Bochuang with 123 million yuan [2][3] - The stocks with the highest net inflows included Zhongfu Circuit, Kabeiyi, and Ruikeda, with net inflows of 31.159 million yuan, 25.109 million yuan, and 10.122 million yuan respectively [2][3] - The trading volume and price changes of various stocks in the sector were highlighted, with notable declines in stocks like Huafeng Technology (-4.31%) and Dingtong Technology (-5.13%) [3]