点击查看公告原文>> 责任编辑：小浪快报 据公告说明，本次股份减持计划符合相关法律法规及规范性文件的规定，减持事项与华暘此前披露的减 持计划一致，不存在违规及违反承诺的情形。由于华暘并非公司控股股东和实际控制人，此次减持不会 导致公司控制权发生变化，也不会对公司治理结构及持续经营产生重大影响。 备查文件为股东出具的《告知函》。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 深圳太辰光通信股份有限公司于2025年9月5日发布公告，持股5%以上股东华暘进出口（深圳）有限公 司决定提前终止减持计划。 2025年5月16日，太辰光曾披露《关于大股东减持股份预披露公告》，彼时华暘持有公司股份2,309.472 万股，占公司总股本的10.1682%，计划自 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9] Core Insights - The company's revenue returned to growth in 25H1, driven by a doubling of government and enterprise business under the influence of the AI wave, becoming the core engine for performance [2][6] - Despite a short-term adjustment in gross margin due to changes in business structure, effective cost control has maintained the company's profitability [2] - The company is firmly executing its "Connection + Computing Power" strategy, with strong momentum exhibited in its second growth curve, represented by computing power businesses such as servers and switches, and terminal businesses like AI smartphones and cloud computers [2][6] Summary by Sections Revenue and Profitability - In 25H1, the company achieved revenue of 71.55 billion yuan, a year-on-year increase of 14.5%, while net profit attributable to shareholders was 5.06 billion yuan, down 11.8% year-on-year [6] - In 25Q2, revenue reached 38.58 billion yuan, up 20.9% year-on-year and 17.0% quarter-on-quarter, with net profit of 2.60 billion yuan, down 12.9% year-on-year but up 6.2% quarter-on-quarter [6] Business Performance - The government and enterprise business saw a remarkable performance, with revenue of 19.25 billion yuan in 25H1, a year-on-year increase of 109.9% and a quarter-on-quarter increase of 105.0%, accounting for 26.9% of total revenue, up 14.1 percentage points year-on-year [2][6] - The company capitalized on opportunities in the domestic market, particularly in the financial and power sectors, leading to significant growth in server and storage revenue [2] - The operator network business revenue increased by 5.99% year-on-year, while consumer business revenue grew by 7.6% year-on-year [2] Cost Management and Margins - The gross margin for 25H1 was 32.5%, down 8.0 percentage points year-on-year, primarily due to the increased proportion of lower-margin government and enterprise business [2] - The company effectively controlled expenses, with R&D, sales, and management expense ratios at 6.1%, 3.0%, and 17.7%, respectively, showing year-on-year reductions [2] Strategic Development - The "Connection + Computing Power" strategy is deepening, with significant achievements in the computing power sector, including large-scale sales of server and storage products to leading internet companies [2] - The company launched AI-integrated smartphones and maintained a leading position in the global market for smart home devices and cloud computers [2] Profit Forecast and Investment Advice - The company is expected to achieve net profits of 8.73 billion yuan, 9.13 billion yuan, and 9.72 billion yuan for 2025-2027, with corresponding year-on-year growth rates of 3.8%, 4.6%, and 6.5% [2][6] - The report maintains a "Buy" rating based on the company's strong performance and strategic direction [2][9]

Investment Rating - The report maintains an "Overweight" rating for the communication industry, expecting the industry index to outperform the market index by more than 10% in the next six months [2][48]. Core Viewpoints - The communication industry has shown stable operation in the first seven months of 2025, with telecom business revenue exceeding 1 trillion yuan, reflecting a year-on-year growth of 0.7%. The total telecom business volume, calculated at constant prices from the previous year, has increased by 8.9% [24]. - The report highlights that the communication industry is in a period of technological iteration and policy dividends, with new growth drivers from AI, quantum communication, and low-altitude economy. The demand for communication facilities such as base stations, optical cables, and data centers is expected to continue growing [24][45]. Summary by Sections 1. Communication Industry Market Review - The communication sector has seen a cumulative increase of 7.58% over the past two weeks (August 22 to September 4), outperforming the CSI 300 index by 5.78 percentage points. Year-to-date, the sector has risen by 50.22%, surpassing the CSI 300 index by 39.29 percentage points [10][14]. 2. Industry News - The Ministry of Industry and Information Technology and the State Administration for Market Regulation have issued a plan to enhance the electronic information manufacturing industry, focusing on major projects and equipment updates [16]. - Juniper Research predicts that global cellular IoT connection revenue will exceed $30 billion by 2030, a 74% increase from $18 billion in 2025, driven by rising demand for operational efficiency and automation [19]. - The global 6G wireless communication standardization work has officially begun, marking a significant step in the development of 6G technology [20]. 3. Company Announcements - ZTE Corporation reported a net profit of 5.058 billion yuan for the first half of 2025, with a revenue of 71.553 billion yuan, reflecting a year-on-year growth of 14.51% [26]. - Meige Intelligent announced a net profit increase of 151% year-on-year for the first half of 2025, with revenue of 1.886 billion yuan, up 44.50% [28]. 4. Industry Data Updates - As of July 2025, the number of mobile phone users reached approximately 1.815 billion, a year-on-year increase of 2.68% [30]. - The total number of 5G base stations reached 4.598 million, with a net increase of 348,000 from the end of the previous year, accounting for 36% of all mobile base stations [40]. 5. Communication Sector Weekly Viewpoint - The report suggests focusing on companies that align with the three main themes of "technology commercialization, policy catalysis, and performance certainty," recommending stocks such as China Mobile, China Telecom, and FiberHome [45].

Core Viewpoint - The recent analysis by CITIC Securities indicates that overseas expansion has become a significant factor contributing to the better-than-expected mid-year performance of A-share listed companies in 2025 [1][5]. Group 1: Overall Market Performance - The overall mid-year report for A-shares in 2025 is still in a bottoming phase, with the non-financial sector showing stabilization in revenue growth and return on equity (ROE) [1]. - The consensus forecast for net profit in the July-September reporting window has seen notable upward adjustments, particularly in sectors experiencing a rebound in domestic demand and those benefiting from strong overseas performance, especially in technology [2]. Group 2: Company Strategies and Performance - Representative companies are adopting various overseas strategies, including establishing local production facilities, quickly entering international markets through contracts, and enhancing market presence via channels and branding [5]. - Companies that have accelerated their overseas business (with over 10% of revenue from international operations) are witnessing a recovery in profit margins and ROE, indicating that overseas business has become a core pillar of financial growth rather than just a supplementary channel [5][6]. Group 3: Specific Company Highlights - Sunshine Power, a key player in the overseas expansion sector, saw its stock price surge over 35% recently, reaching a historical high, with overseas revenue becoming a crucial driver of financial growth [6][7]. - In the first half of the year, Sunshine Power reported revenue of 43.5 billion yuan, a year-on-year increase of 40.34%, and net profit of 7.73 billion yuan, up 55.97%. Notably, overseas revenue reached 25.38 billion yuan, accounting for 58.3% of total revenue, up from 43.44% in the same period last year [7]. Group 4: Market Indices Performance - The New China Manufacturing Overseas Index increased by 1.95%, while the New China Electric New Overseas Index rose by 8.79%, reflecting strong performance in sectors like photovoltaic equipment and communication devices [8].

Group 1 - The company, Hengtong Optic-Electric, announced that it will hold a semi-annual performance briefing on September 12, 2025, from 15:00 to 16:00 [2]

Core Viewpoint - The company, Quectel (移远通信), has announced that its intelligent computing modules can be applied to AI servers, enabling customers to launch customized SoC array server products for centralized management and allocation of CPU, GPU, and NPU resources, achieving computing power sharing [1] Group 1 - The company has already supplied computing modules to leading domestic internet platforms and has achieved mass production [1]

近期，数码博主"Chills牙牙"爆料称，近期中国联通（600050）总部已经下发通知，要对苹果eSIM版卡项目进行业务支撑，引发广泛关注。9月5 日，这一消息得到了另一位知名博主@定焦数码 的证实，或意味着eSIM功能将在国行版苹果手机正式落地。 此外，专注于报道苹果公司相关资讯的科技媒体MacRumors近期也爆料称，欧盟苹果授权经销商的零售员工也被要求必须在9月5日之前完成与支持 eSIM相关的培训课程。坊间由此猜测欧盟地区的iPhone 17系列或将支持eSIM。值得注意的是，报道并未提及任何具体的iPhone 17型号。 但综合目前爆料的信息来看，苹果公司并不打算在iPhone 17全系推广该功能，预计仅有轻薄定位的iPhone 17 Air将支持eSIM，其余机型仍保留传统 SIM卡槽。而iPhone 17 Air应用该功能或许也是无奈之举。该款机型以"5.5毫米的超薄"作为噱头，但受限于过于狭窄的机身空间，电池容量被曝仅 2800mAh，未能突破3000mAh大关。 目前，苹果已经官宣于北京时间9月10日凌晨举办秋季发布会，届时苹果将会带来iPhone 17系列等多款新品，根据往年的销售情况，业 ...

Group 1 - The company, Yinghantong, announced plans to hold a semi-annual performance briefing on September 15, 2025, from 10:00 to 11:00 [2]

Core Viewpoint - The company has repurchased a total of 19.5039 million shares, representing approximately 0.79% of its total share capital, with a total transaction amount of RMB 251 million, excluding transaction fees [1] Group 1 - The share repurchase is in line with the company's established plan and relevant laws and regulations [1] - The repurchased shares are intended for employee stock ownership plans or equity incentives to enhance long-term incentive mechanisms [1] - The initiative aims to strengthen team cohesion and competitiveness, promoting the company's long-term development [1]

Group 1 - The core point of the article is the appointment of Jiang Hairong as the CEO of Deep Blue Automotive, a subsidiary of Changan Automobile, indicating a strategic move to enhance leadership in the electric vehicle sector [1][3] - Jiang Hairong has over 20 years of experience in the communication and smart terminal industry, having held various key positions at Huawei and Honor, which positions him well for his new role [3] - Deep Blue Automotive is recognized as an important brand for Changan Automobile in the new energy vehicle market, with existing technological advancements such as super range extension technology and collaboration with Huawei on intelligent driving systems [3] Group 2 - Jiang's previous experience includes significant roles in product marketing and brand management at Honor, where he successfully led marketing efforts for multiple products [3] - His expertise in brand positioning and user communication is seen as essential for Deep Blue Automotive at its current stage of development [3] - The article notes that Jiang Hairong's leadership is expected to drive growth and innovation within Deep Blue Automotive, reflecting the company's ambitions in the competitive electric vehicle landscape [3]