Core Viewpoint - Dingxin Communications has clarified its collaboration with Pingtouge Company, stating that the technology rights granted are solely for chip self-development and are unrelated to AI smart reasoning chips. This clarification comes after the company's stock experienced significant price fluctuations and trading volume increases [2][9]. Group 1: Stock Performance - Dingxin Communications' stock price reached a closing price of 8.17 yuan per share on September 22, with a rise of 9.96%, resulting in a total market capitalization of 5.328 billion yuan [2]. - The stock experienced a cumulative price deviation exceeding 20% over three consecutive trading days, leading to its appearance on the stock exchange's watchlist [5]. - On September 19 and 20, the stock price hit the daily limit, with significant trading activity noted, including institutional selling on the first day [5][7]. Group 2: Financial Performance - For the first half of 2025, Dingxin Communications reported a revenue of 704.13 million yuan, a decrease of 50.99% year-on-year, and a net profit attributable to shareholders of -219.17 million yuan, compared to -50.49 million yuan in the same period of 2024 [7][8]. - The company’s core business focuses on power line carrier communication and smart grid equipment, with a primary emphasis on smart meter data transmission and fire safety [7]. Group 3: Clarification of Collaboration - The company signed a technology authorization agreement with Pingtouge Company, which allows the use of E801/E802/E803 technology for MCU chip development, specifically for traditional power and security products, with no connection to AI chips [9][10]. - The authorization is valid for five years, with a contract amount of 2 million yuan, and no other business cooperation exists between the two companies [10]. Group 4: Regulatory Response - The Shanghai Stock Exchange issued a regulatory warning to Dingxin Communications for inaccurately disclosing information, which could mislead investors, and required the company to submit a rectification report within one month [13].

Core Viewpoint - The stock of Dingxin Communication (603421) experienced an abnormal fluctuation, with a cumulative closing price increase of over 20% during three consecutive trading days [1] Group 1: Stock Performance - The stock price of Dingxin Communication rose significantly, with a cumulative increase exceeding 20% over three trading days: September 18, September 19, and September 22 [1] Group 2: Business Developments - Dingxin Communication signed an authorization agreement with Pingtouge Company, allowing the use of E801/E802/E803 technology rights for independent chip development [1] - The authorized technology is exclusively for the development of MCU chips, which are related to traditional power and security products, specifically for electric meters and security products [1] - There is no other business collaboration between Dingxin Communication and Pingtouge Company beyond the mentioned technology authorization [1]

Core Viewpoint - The Shanghai Stock Exchange issued a regulatory warning to Dingxin Communications for providing inaccurate information regarding its collaboration with Pingtouge, which could mislead investors [2][5]. Group 1: Company Actions and Responses - On September 18, Dingxin Communications stated on the E Interaction platform that it had signed a comprehensive technology authorization agreement with Pingtouge [3]. - Following this announcement, Dingxin Communications' stock price hit the daily limit up on September 19 [3]. - On September 19, the company clarified that its previous statement was inaccurate, specifying that the technology authorization only pertains to low-cost, low-power embedded CPU cores for traditional applications, not AI computing chips [4]. Group 2: Regulatory Actions - The Shanghai Stock Exchange's decision highlighted that Dingxin Communications failed to accurately disclose specific details about the collaboration, which violated the stock listing rules [5]. - The then Secretary of the Board, Hu Sixiang, was specifically warned for not fulfilling his responsibilities regarding information disclosure [5]. Group 3: Company Background and Financials - Dingxin Communications was founded in 2008 and listed on the Shanghai Stock Exchange in October 2016, with headquarters in Qingdao [6]. - In the first half of 2025, the company reported revenues of 704 million yuan and a net loss of 219 million yuan attributable to shareholders [6].