Core Viewpoint - The company is actively tracking relevant applications for its laser ultra-precision drilling equipment, which is equipped with ultra-fast lasers to achieve stable processing of micro-hole diameters ranging from 30m to 70m [1] Group 1 - The laser ultra-precision drilling equipment can achieve a drilling efficiency of up to 10,000 holes per second [1] - The initial sample results have been recognized by customers, indicating positive feedback on the product's performance [1]

Core Viewpoint - The company is actively tracking relevant applications for its laser ultra-precision drilling equipment, which is equipped with ultra-fast lasers to achieve stable processing of micro-hole diameters ranging from 30µm to 70µm [1] Group 1 - The drilling efficiency of the equipment can reach up to 10,000 holes per second [1] - The initial sample results have been well received by customers [1]

Company Developments - Didi Autonomous Driving has established its first overseas station in Abu Dhabi, partnering with the Abu Dhabi Investment Office to support smart mobility and sustainable transportation initiatives [5][6]. - Two Chinese companies, Loong and WeRide, received the first batch of fully autonomous commercial operation licenses in Abu Dhabi, allowing them to operate Robotaxi services without onboard safety personnel [5][6]. - Cao Cao Mobility signed a memorandum of understanding with the Abu Dhabi Investment Office to promote electric and battery-swapping vehicles in the region [5]. - Cainiao Network partnered with Al Khayyat Investments to enhance logistics efficiency in the UAE using AI technology [5]. Market Trends - Ant Group showcased its AI products at the Singapore FinTech Festival, emphasizing its global strategy and partnerships with over 13,000 enterprises across 24 countries [7]. - TikTok Shop in Southeast Asia reported a 2.3 times increase in total transaction volume during the Double Eleven shopping festival compared to the previous year, indicating strong market potential [7]. - AliExpress surpassed Amazon in app downloads in several countries during its overseas Double Eleven sales event, with over 200 brands achieving double the average daily sales of Amazon [7]. Investment and Financing - Paitena Robotics completed a multi-million A round financing to enhance its construction robotics and overseas expansion efforts [8]. - Xunming Biotechnology raised tens of millions of dollars in A round financing to advance its antibody drug development and global partnerships [8]. - Langchong Future secured a Pre-A round financing of over 100 million yuan, with 90% of its revenue coming from overseas markets [8]. - Andao Pharmaceutical completed a C round financing of over 400 million yuan to accelerate clinical research for its new drugs globally [8]. Policy and Market Insights - Global investment in data centers is projected to exceed oil spending for the first time, with an expected investment of $580 billion in data centers by 2025 [9]. - The EU plans to eliminate the tax exemption for low-value packages by 2026, accelerating the timeline for this policy change [10]. - China holds a 56.6% share of the global laser equipment market, with significant growth in exports to the Middle East, Europe, and Southeast Asia [10]. - Chinese electric motorcycle brands are rapidly expanding in Southeast Asia, with significant market shares in Thailand and Vietnam [10].

2025 (第十五届) 高工锂电年会 t 激荡十五年 瞭望新征程 报 th 同分子 名 めか単位 2025.11/18-20 激光工艺在锂电制造中的应用正不断深化。近日，高工锂电获悉，经过两年多的小批量测试和验证，公大激光高功率绿光激光器凭借稳定可靠的产品 性能，成功进入多家头部电池厂商供应体系，并成为锂电池极片模切领域全球唯一的脉冲绿光激光器批量供应商。 截至今年 10 月底，该系列产品累计供货量已突破 300 台，稳定支撑服务客户产线的规模化应用。 相较于传统的红外激光切割，绿光激光工艺因其波长短，对铜等高反材料吸收率更高，在锂电池极片加工中展现出显著优势：加工后毛刺更小、热影 响区更低、产生的粉尘颗粒更少。 高工产研（ GGII ）曾有数据预计， 2025 年锂电激光设备需求有望达到 220 亿元。 公大激光 500W 级大能量纳秒脉冲光纤绿光激光器在六大核心性能指标上实现了全面进阶： 高功率与高稳定性：激光器最高平均功率大于 500W （实测可达 530W ），同时 24 小时功率波动（ RMS ）小于 0.27% 。 高能量与高一致性：最大单脉冲能量可达 600 μ J 。在频率降低至最低 20kH ...

Core Viewpoint - The article highlights the significant advancements and collaborations of Chinese companies in the field of autonomous driving and cross-border e-commerce, particularly in the Middle East and Southeast Asia, showcasing the growing global influence of these sectors. Group 1: Autonomous Driving Developments - Didi Autonomous Driving has established its first overseas station in Abu Dhabi, partnering with the Abu Dhabi Investment Office to support smart mobility and sustainable transportation initiatives [5] - Two Chinese companies, Loong and WeRide, received the first commercial operation licenses for fully autonomous driving in Abu Dhabi, allowing them to operate without onboard safety personnel [5] - Cao Cao Mobility signed a memorandum of understanding with the Abu Dhabi Investment Office to promote electric and battery-swapping vehicles as part of sustainable transportation solutions [6] Group 2: E-commerce Growth in Southeast Asia - TikTok Shop's cross-border e-commerce in Southeast Asia saw a remarkable 2.3 times increase in total transaction volume during the recent Double Eleven shopping festival compared to the previous year [7] - On November 11, TikTok Shop achieved a single-day transaction volume increase of 60% year-on-year, indicating strong consumer demand in the Southeast Asian market [7] - AliExpress also reported significant success during the overseas Double Eleven event, surpassing Amazon in app downloads across multiple countries [7] Group 3: Financing and Market Expansion - Paitena Robotics completed a multi-million A round financing to enhance its development in construction robotics and international markets [8] - Surge Future secured a Pre-A round financing of over 100 million yuan, with 90% of its revenue coming from overseas markets, indicating strong international demand for its pool cleaning robots [9] - Ant Group showcased its AI products at the Singapore FinTech Festival, emphasizing its global strategy and partnerships across 24 countries [6]

Core Viewpoint - The company has approved the 2025 Restricted Stock Incentive Plan and has conducted a verification of the list of incentive recipients, ensuring compliance with relevant regulations and internal guidelines [1][5]. Disclosure and Verification Process - The company disclosed the draft of the 2025 Restricted Stock Incentive Plan and related documents on November 1, 2025, on the Shanghai Stock Exchange website [1]. - The internal public announcement of the proposed incentive recipients took place from November 4 to November 13, 2025, allowing employees to provide feedback [2]. - No objections were raised by any organization or individual regarding the proposed incentive recipients during the public announcement period [3]. Verification Committee's Findings - The verification committee reviewed the list of proposed incentive recipients, their identification documents, and their employment contracts with the company or its subsidiaries [4]. - The committee confirmed that all proposed recipients meet the qualifications outlined in the Company Law, management regulations, and internal guidelines [5]. - The incentive recipients include company directors, senior management, and key technical personnel, excluding independent directors and major shareholders [6]. - The committee found no discrepancies or misleading information regarding the basic information of the incentive recipients [6].

Core Viewpoint - Haimeixing's stock price increased by 5.11% to 48.35 CNY per share, with a trading volume of 363 million CNY and a turnover rate of 3.14%, resulting in a total market capitalization of 11.979 billion CNY [1] Group 1: Company Overview - Haimeixing Laser Technology Group Co., Ltd. is located in Longhua District, Shenzhen, Guangdong Province, and was established on April 3, 2008, with its listing date on September 9, 2020 [1] - The company's main business involves the research, design, production, and sales of laser and automation equipment across various industries, including consumer electronics, power batteries, and sheet metal processing [1] Group 2: Revenue Composition - The revenue composition of Haimeixing is as follows: - Laser and automation equipment for power batteries: 60.28% - Laser and automation equipment for 3C consumer electronics: 18.04% - Laser cutting equipment for sheet metal: 10.52% - Laser and automation equipment for the photovoltaic industry: 7.98% - Other industries: 3.17% [1] Group 3: Shareholder Information - Southern Fund's Southern CSI 1000 ETF (512100) entered the top ten circulating shareholders of Haimeixing in the third quarter, holding 1.8003 million shares, which is 0.73% of the circulating shares [2] - The ETF has a current scale of 76.63 billion CNY and has achieved a year-to-date return of 28.92% [2] - The fund manager, Cui Lei, has a tenure of 7 years and 9 days, with a total fund asset scale of 122.76 billion CNY [2]

Core Insights - Haimuxing Laser Technology Group Co., Ltd. experienced a stock price increase of 5.11%, reaching 48.35 CNY per share, with a trading volume of 363 million CNY and a turnover rate of 3.14%, resulting in a total market capitalization of 11.979 billion CNY [1] Company Overview - Haimuxing was established on April 3, 2008, and went public on September 9, 2020. The company is located in Longhua District, Shenzhen, Guangdong Province [1] - The main business areas include research, design, production, and sales of laser and automation equipment for various industries, including consumer electronics, power batteries, and sheet metal processing [1] Revenue Composition - The revenue breakdown is as follows: - Laser and automation equipment for power batteries: 60.28% - Laser and automation equipment for 3C consumer electronics: 18.04% - Laser cutting equipment for sheet metal: 10.52% - Laser and automation equipment for the photovoltaic industry: 7.98% - Other industries: 3.17% [1] Fund Holdings - Nanhua Fund has a significant holding in Haimuxing, with the Nanhua Ruiying Mixed Initiation A fund (004845) holding 54,900 shares, accounting for 6.08% of the fund's net value, making it the sixth-largest holding [2] - The fund has generated an estimated floating profit of approximately 128,900 CNY today [2] Fund Performance - Nanhua Ruiying Mixed Initiation A was established on August 16, 2017, with a current size of 4.9957 million CNY. Year-to-date returns are 7.46%, ranking 6453 out of 8140 in its category, while the one-year return is 6.91%, ranking 6136 out of 8056 [2] - Since inception, the fund has achieved a return of 44.26% [2] Fund Management - The fund is managed by Xu Chao and Lu Yue. Xu has a tenure of 10 years and 14 days, with a total asset size of 1.444 billion CNY, achieving a best return of 129.63% and a worst return of -18.74% during his tenure [3] - Lu has a tenure of 1 year and 121 days, managing assets of 37.9123 million CNY, with a best return of 32.59% and a worst return of 31.57% [3]

| 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-11-13 | 396.05万 | 2.36亿 | 3.61% | | 2025-11-12 | 2414.90万 | 2.32亿 | 3.51% | | 2025-11-11 | 2196.76万 | 2.08亿 | 3.10% | | 2025-11-10 | 914.53万 | 1.86亿 | 2.79% | | 2025-11-07 | 491.55万 | 1.77亿 | 2.88% | 证券之星消息，11月13日，英诺激光（301021）融资买入4453.0万元，融资偿还4056.95万元，融资净买 入396.05万元，融资余额2.36亿元，近3个交易日已连续净买入累计5007.71万元，近20个交易日中有13 个交易日出现融资净买入。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-11-13 | 2.36亿 | 396.05万 | 1.70% | | 2025-11-1 ...

Company Overview - Jiepte is a Shenzhen-based company specializing in the research, development, production, and sales of lasers and intelligent equipment for precision testing and micro-processing related to integrated circuits and semiconductor optoelectronic devices [1][2] - The company was established on April 18, 2006, and went public on October 31, 2019 [1] Financial Performance - For the period from January to September 2025, Jiepte achieved a revenue of 1.509 billion yuan, representing a year-on-year growth of 41.02% [2] - The net profit attributable to shareholders for the same period was 204 million yuan, showing a significant year-on-year increase of 97.30% [2] - Since its A-share listing, Jiepte has distributed a total of 157 million yuan in dividends, with 96.44 million yuan distributed over the past three years [3] Stock Performance - As of November 14, Jiepte's stock price decreased by 2.01% to 137.00 yuan per share, with a total market capitalization of 13.022 billion yuan [1] - Year-to-date, the stock price has increased by 190.99%, but it has seen a decline of 5.28% over the last five trading days [1] - The stock has experienced a 3.65% increase over the last 20 days and a 13.13% increase over the last 60 days [1] Shareholder Information - As of September 30, 2025, Jiepte had 7,160 shareholders, an increase of 8.35% from the previous period [2] - The average number of circulating shares per shareholder decreased by 7.71% to 13,275 shares [2] - Notable changes in institutional holdings include a decrease in shares held by Guangfa Technology Innovation Mixed A and new entries from Huaxia Industry Prosperity Mixed A and Guangfa Innovation Upgrade Mixed [3] Industry Classification - Jiepte is classified under the machinery and equipment sector, specifically in automation equipment and laser devices [2] - The company is associated with several concept sectors, including optical communication, Apple and Samsung supply chains, and annual strong performance categories [2]