Group 1 - The company has received a notice from its sponsor, CITIC Securities, regarding the change of the designated representative for ongoing supervision [1] - CITIC Securities has been the continuous sponsor for the company since its initial public offering on the Sci-Tech Innovation Board, with the supervision period ending on December 31, 2022 [1] - Due to the unutilized funds from the fundraising, CITIC Securities will continue its supervisory duties, with the new representatives being Zhou Peng and Cao Wenwei, following the departure of Xiao Shaochun [1] Group 2 - Cao Wenwei holds a master's degree and has been with CITIC Securities since 2016, participating in various IPO projects and financial advisory roles [2] - His experience includes involvement in IPO projects for companies such as Stone Technology and Aima Technology, as well as other significant financial advisory projects [2] - The company expresses gratitude to Xiao Shaochun for his contributions during his tenure as the designated representative [1]

Core Viewpoint - The company announces a capital increase of $517 million for its subsidiary TeraHop Pte. Ltd. to enhance its operational capabilities and competitiveness [1][2] Group 1: Investment Details - The capital increase involves the company's wholly-owned subsidiary VINCREST HOLDINGS PTE.LTD, original shareholder INFIEVO Holding Pte.Ltd., and new shareholders including Platinum Orchid B2018RSC Limited, Daxue Investments Pte.Ltd., and True Light Investments P Pte.Ltd. [1] - A total of 16,089,272 ordinary shares of TeraHop will be subscribed as part of this capital increase [1] Group 2: Purpose of the Investment - The funds will be utilized for capacity construction, research and development, and daily operations of TeraHop and its subsidiaries [2] - The transaction aims to optimize TeraHop's equity structure and balance sheet, thereby enhancing its operational efficiency and competitive edge [2]

Core Insights - The stock of Dekoli increased by 5.06% on November 21, closing at 115.00 yuan, with three block trades totaling 138,100 shares and a transaction value of 14.0862 million yuan [1] Trading Activity - The first block trade occurred at a price of 102.00 yuan for 98,100 shares, amounting to 10.0062 million yuan, with a discount rate of -11.30%. The buyer was an institutional client, and the seller was Huatai Securities [1] - The second block trade also took place at 102.00 yuan for 20,000 shares, totaling 2.04 million yuan, with the same discount rate of -11.30%. The buyer was again an institutional client, and the seller was Huatai Securities [1] - The third block trade was at 102.00 yuan for 20,000 shares, amounting to 2.04 million yuan, with a discount rate of -11.30%. The buyer was Morgan Stanley Securities (China) and the seller was Huatai Securities [1] Recent Performance - Over the past three months, Dekoli has recorded a total of 39 block trades with a cumulative transaction value of 115 million yuan [1] - In the last five trading days, the stock has risen by 24.82%, with a net inflow of 421 million yuan from major funds [1]

诺基亚(NOK.US)盘前涨1.19%报5.94美元。有市场消息称，诺基亚首席执行官Justin Hotard表示，公司 正在评估的四大业务单元——包括其私有无线网络解决方案——与整体战略方向不符，预计将在2026年 推进相关业务的剥离或出售。此外据悉，诺基亚正押注人工智能热潮，精简业务以聚焦连接AI数据中 心的网络基础设施。该公司周三举办资本市场日。诺基亚宣布，到2028年其年度营业利润预计将在27亿 欧元至32亿欧元。(格隆汇) | NOK 诺基亚 | | | | --- | --- | --- | | 5.8704-0.160 -2.65% | | 收盘价 11/20 16:00 美东 | | 5.940 + 0.070 +1.19% | | 盘前价 11/21 04:20 美东 | | 一 5 24 9 ~ 9 日 ♥ 白选 | | ● 快捷交易 | | 最高价 6.210 | 开盘价 6.180 | 成交量 5583.44万 | | 最低价 5.860 | 昨收价 6.030 | 成交额 3.35亿 | | 平均价 6.000 | | 市盈率TTM 29.95 总市值 315.75亿 … | | 振 ...

Group 1 - The company, Zhaolong Interconnect (300913), plans to continuously follow the development trends of computing networks and artificial intelligence [1] - The company will increase research and development investment in the optical product field [1] - The company aims to expand product application scenarios and enhance core technological competitiveness [1]

证券日报网讯金溢科技11月21日发布公告，在公司回答调研者提问时表示，公司选择具有持续稳定批量 供应能力的供应商合作伙伴，以确保供应链安全。 （文章来源：证券日报） ...

Core Viewpoint - The company emphasizes technology innovation as its core driving force for development, closely following global technology trends and focusing on potential areas such as CPO [1] Group 1: Company Strategy - The company is committed to reasonable allocation and investment of R&D resources based on market and business needs [1] - The company has released a single-chip 51.2T800G CPO silicon photonic switch, integrating CPO silicon technology, innovative cooling, and intelligent lossless network design [1] Group 2: Product Highlights - The single-chip bandwidth of the new product reaches 51.2T, supporting 64 ports of 400G/800G [1]

智通财经APP讯，摩比发展(00947)发布公告，于2025年11月21日，该公司斥资304港元回购2000股股 份，每股回购价格为0.152港元。 ...

Investment Rating - Maintain Outperform rating with a target price of 99.0 RMB based on a 43.8x PE for 2026 [4][8] Core Insights - Significant growth in performance with Q3 2025 revenue of 8.53 billion RMB, up 58.65% YoY, and net profit of 719 million RMB, up 54.95% YoY [9] - The increase in 800G product proportion is expected to enhance profitability, with domestic demand for 800G anticipated to rise rapidly in 2026 [9][10] - Positive outlook for domestic computing power chips and cloud providers, with major companies planning to expand data center capacities significantly [10] Financial Summary - Total revenue projections for 2023A to 2027E are 6,061 million RMB, 8,272 million RMB, 11,718 million RMB, 17,362 million RMB, and 21,522 million RMB respectively, with growth rates of -12.3%, 36.5%, 41.7%, 48.2%, and 24.0% [3] - Net profit attributable to shareholders is projected to grow from 619 million RMB in 2023A to 2,331 million RMB in 2027E, with corresponding EPS increasing from 0.77 RMB to 2.89 RMB [3][4] - The gross profit margin for Q3 2025 was reported at 24.14%, reflecting a 4 percentage point increase QoQ [9] Industry Outlook - The domestic data center construction is expected to benefit from localization efforts, with optimism surrounding the growth of domestic chip manufacturers [10] - The overall industry is projected to experience high growth driven by increasing demand for advanced data communication technologies [9][10]

Market Overview - The market experienced significant fluctuations, with the Shanghai Composite Index falling over 2% and the ChiNext Index dropping more than 4%. Nearly 5,100 stocks declined, with 99 hitting the daily limit down [1] - The Shanghai Composite Index closed down 2.45%, the Shenzhen Component Index down 3.41%, and the ChiNext Index down 4.02% [1] Sector Performance - AI application concepts showed resilience, with Rongji Software achieving five consecutive limit-up days [1] - The military industry sector was active, with Jiuzhiyang hitting the limit up and companies like Jianglong Shipbuilding and Tianhai Defense also experiencing significant gains [1] - Conversely, the lithium battery supply chain faced a collective adjustment, with stocks like Shengxin Lithium Energy hitting the limit down [1] Trading Volume - The total trading volume of the Shanghai and Shenzhen markets reached 1.97 trillion yuan, an increase of approximately 257.47 billion yuan compared to the previous trading day [2] - The Shanghai market's trading volume was 824.93 billion yuan, while the Shenzhen market's was 1.14 trillion yuan [2] Notable Stocks - Zhongji Xuchuang had the highest trading volume at 19.48 billion yuan, followed by Xinyi Sheng, Ningde Times, Sunshine Power, and Industrial Fulian with trading volumes of 13.41 billion yuan, 11.85 billion yuan, 11.76 billion yuan, and 11.71 billion yuan respectively [2]