Group 1 - The core point of the article is that Guoxing Optoelectronics (国星光电) reported its shareholder count as of November 10, reaching 67,818 households [1]

证券日报网讯东田微11月17日在互动平台回答投资者提问时表示，截至2025年11月10日，公司股东总户 数为20751户。 （文章来源：证券日报） ...

Group 1 - The company announced that it will hold a board meeting and an extraordinary shareholders' meeting in October 2025 to approve the change in the purpose of share repurchase for 2022 and 2023 [1] - A total of 1,636,927 shares will be canceled, leading to a reduction in registered capital [1] - After the cancellation of repurchased shares, the total share capital will decrease from 263,741,550 shares to 262,104,623 shares, and registered capital will reduce from 264 million yuan to 262 million yuan [1]

证券研究报告 2025 年 11 月 17 日 湘财证券研究所 金融工程研究 跟踪周报 超预期股票精选策略跟踪周报 超预期股票精选策略根据净利润同比超预期、分析师超预期这两个指标构 建超预期股票池；我们选择 Wind 全 A 作为底层股票池，将分析师超预期 TOP50 组合、净利润同比超预期 TOP50-100 组合合并，作为最终的超预期 股票池；为了增强策略收益，我们从量价行情角度挖掘增强因子，最终在 超预期股票池内根据增强因子的排序，选出头部股票构建组合。 相关研究： 1. 《湘财证券-金融工程-超预期股 票精选策略》 2024.08.19 2. 《湘财证券-金融工程-超预期股 票 精 选 策 略 改 进 》 2024.11.19 分析师：别璐莎 证书编号：S0500524010001 Tel：(021) 50293663 Email：bls06644 @xcsc.com 地址：上海市浦东新区银城路88号 中国人寿金融中心10楼 核心要点： ❑ 主动型量化基金市场表现 上周（2025.11.10-2025.11.14），根据 Wind，主动型量化基金中位数收益为 0.17%，沪深 300 指数收益为-1. ...

Core Insights - The optical and optoelectronic sector saw a slight increase of 0.36% on November 17, with Tengjing Technology leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Tengjing Technology (688195) closed at 135.61, up 20.00% with a trading volume of 160,800 shares and a transaction value of 2.064 billion [1] - Aikex Co., Ltd. (300889) closed at 25.12, up 11.15% with a trading volume of 139,500 shares and a transaction value of 343 million [1] - ST Changfang (300301) closed at 2.64, up 6.88% with a trading volume of 235,400 shares and a transaction value of 60.21 million [1] - Huichuangda (300909) closed at 43.74, up 5.17% with a trading volume of 69,800 shares and a transaction value of 301 million [1] - Qianzhao Optoelectronics (300102) closed at 14.32, up 5.14% with a trading volume of 852,300 shares and a transaction value of 1.207 billion [1] Capital Flow - The optical and optoelectronic sector experienced a net outflow of 870 million from institutional investors, while retail investors saw a net inflow of 561 million [2] - Tengjing Technology had a net inflow of 216 million from institutional investors, but a net outflow of 151 million from speculative funds [3] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are actively buying [2][3]

Group 1 - The core viewpoint of the article is that Crystal Optoelectronics (SZ 002273) has engaged with investors through a research meeting, highlighting its business performance and revenue composition for the first half of 2025 [1] - For the period from January to June 2025, the revenue composition of Crystal Optoelectronics is as follows: 92.2% from the optical optoelectronics industry, 6.21% from reflective materials, and 1.6% from other businesses [1] - As of the time of reporting, the market capitalization of Crystal Optoelectronics is 32.5 billion yuan [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Insights - The company reported a revenue of 2.362 billion yuan for the first three quarters of 2025, representing a year-over-year increase of 18.49%. The net profit attributable to the parent company was 188 million yuan, up 40.99% year-over-year, while the net profit excluding non-recurring items was 186 million yuan, reflecting a 49.29% increase year-over-year. In Q3 alone, the revenue reached 946 million yuan, marking a year-over-year growth of 27.06% and a quarter-over-quarter increase of 18.22%. The net profit for Q3 was 80 million yuan, up 64.91% year-over-year and 36.96% quarter-over-quarter, with a net profit margin of 8.5% and a net profit margin excluding non-recurring items of 8.73% [5][12]. Summary by Sections Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 2.362 billion yuan, with a year-over-year growth of 18.49%. The net profit attributable to the parent company was 188 million yuan, showing a year-over-year increase of 40.99%. The net profit excluding non-recurring items was 186 million yuan, up 49.29% year-over-year. In Q3, the revenue was 946 million yuan, reflecting a year-over-year growth of 27.06% and a quarter-over-quarter increase of 18.22%. The net profit for Q3 was 80 million yuan, with a year-over-year increase of 64.91% and a quarter-over-quarter increase of 36.96% [5][12]. Business Growth Drivers - The core growth driver for the company is the significant increase in revenue from the molded glass business, which benefited from the new consumer markets such as panoramic cameras and action cameras. The company expects continued growth in this segment, especially with new product launches from major clients like DJI [12]. Market Opportunities - The company is positioned as a hidden champion in the molded glass and security lens industries. There is a substantial opportunity in the external telephoto lens market for Android flagship phones, with expected releases from brands like vivo and OPPO. The company plans to introduce cost-effective versions to cater to mid-range models [12]. Long-term Outlook - The company has a stable cash flow and profit contribution from its security lens business, while the automotive optical business is on a growth trajectory due to rising industry demand and increased market share. The company is well-positioned to capitalize on the growth in the molded glass and automotive lens markets, with projected net profits for 2025-2027 of 294 million, 479 million, and 643 million yuan, respectively [12].

Core Viewpoint - Hubei Wufang Optoelectronics Co., Ltd. announced the completion of a share reduction plan by its controlling shareholder's concerted actor, Wufang Qunxing, which involved a reduction of up to 2,688,400 shares, accounting for 0.93% of the total share capital after excluding shares in the company's repurchase account [1][2]. Shareholder Reduction Situation - The shares reduced were sourced from the company's pre-IPO shares, with a reduction price range between 14.76 yuan/share and 15.79 yuan/share [2]. - The reduction plan was executed within the specified timeframe from August 15, 2025, to November 14, 2025, and the actual reduction was consistent with the previously disclosed plan [3][4]. Compliance and Impact - The share reduction adhered to relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China, and did not violate any commitments [3]. - The reduction will not lead to a change in the company's control or significantly impact its governance structure and ongoing operations [4]. Documentation - The company has made available the notice from Wufang Qunxing regarding the completion of the share reduction plan [5].

智通财经APP讯，鸿利智汇(300219.SZ)发布公告，截至公告日，公司控股股东四川金舵通过深圳证券交 易所交易系统以集中竞价方式累计增持公司股份377万股，约占公司总股本0.53%，累计增持金额为人 民币2606万元(不含手续费)。 ...

Core Points - Xiamen Lidin Optoelectronics Co., Ltd. announced the completion of the cancellation of its special settlement account for cash management of raised funds on November 15 [1] - The special account was opened on April 11, 2023, at the Xiamen Datang Branch of Bank of Communications, and all funds have been fully transferred back to the raised funds account [1] - The company has no further plans for the use of this account, and the cancellation is a routine operation in the management of raised funds, which does not impact the company's operations or fundraising plans [1] Summary by Sections - **Account Details** - The special settlement account was opened on April 11, 2023, with the account number 352000679013001203408 [1] - The account was disclosed in a previous announcement on April 13, 2023 [1] - **Regulatory Compliance** - The cancellation of the account was completed in accordance with the relevant regulations of the Shanghai Stock Exchange regarding the management of raised funds [1] - The board of directors emphasized adherence to the management system for raised funds to ensure fund safety [1] - **Impact on Operations** - The cancellation of the account is a standard procedure and does not affect the company's production operations or the planned use of raised funds [1]