Group 1 - The core business of the company includes digital intelligence technology, electronic technology, supply chain, and automobile distribution [1] - The digital intelligence technology services multiple key areas such as smart transportation, smart city management, smart national defense, smart warehousing, and smart parks [1] - Investors are encouraged to pay attention to the company's periodic reports for related operational conditions [1]

Core Viewpoint - The company, Jingqiang Technology, is preparing for a second IPO attempt after previously withdrawing its application due to significant financial concerns, including volatile profits and negative cash flow [1][2][3] Financial Performance - In 2021, the company's net profit was 91 million, but it plummeted by 54.8% to 52 million in 2022, with non-recurring net profit dropping from 79 million to 36 million [1] - The company has reported negative cash flow from operating activities for seven consecutive years, with figures ranging from -39.96 million in 2018 to -163 million in 2024 [1] Market Concerns - The company has a significantly higher gross margin compared to industry peers, yet its R&D personnel accounted for less than 10% as of June 30, 2021, raising questions about its innovation capabilities [1] - The authenticity of overseas sales is under scrutiny, with 2024 overseas revenue reported at 235 million, a year-on-year increase of 80.5%, but concerns exist regarding the nature of its major clients being traders [2] Supplier Issues - The company's largest supplier, Xiamen Guomao, has shifted away from a long-term supply model, causing its procurement share to drop from 47% to approximately 13% [2] - A new supplier, Shanghai Jituo, has been introduced, with a procurement amount of 528 million in 2024, raising questions about the stability and reliability of the supply chain [2] Corporate Actions - Prior to its IPO application, the company distributed a substantial dividend of 64.67 million, while simultaneously seeking to raise 100 million for liquidity, leading to skepticism about its motives for going public [2] - The company faces increasing scrutiny in a competitive environment, and its ability to address financial concerns and restructure its profit model will be critical for its second IPO attempt [3]

每经编辑｜陈柯名 21日，日本股市低开低走，日经225指数迅速击穿49000点。截至发稿，日经225指数跌超2%报48738点，再度跌超千点。此前在本周二(18日)，日经225指 数就出现了开盘跳水跌超千点的市况。 热门个股上，软银股价一度下跌11%，创11月5日以来最大跌幅。日本铠侠股价一度下跌16%。消息面上，日本11月份标普全球制造业PMI报48.8。 | < | 日轻 225 | | © Q | | --- | --- | --- | --- | | N225.GI | | | | | 0 48738.08 高 49459.59 开 49251.26 量 | | | | | i -1085.86 -2.18% 低 48559.68 换 -- 18 | | 额 | 0.00 | | 分时 | | | | | 最新: 48738.08 -1085.86 -2.18% | | | | | 51088.20 | | | 2.54% | | 50456.07 | | | 1.27% | | 49823.94 | | | - 0.00%- | | 49191.81 | | | -1.27% | | 485 69. ...

天眼查App显示，近日，合肥云图知航电子科技有限公司成立，法定代表人为蔡伟志，注册资本10万人 民币，经营范围为一般经营项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广； 信息咨询服务（不含许可类信息咨询服务）；教育咨询服务（不含涉许可审批的教育培训活动）；科技 中介服务；创业空间服务；会议及展览服务；物联网技术研发；人工智能硬件销售；人工智能通用应用 系统；工业互联网数据服务；互联网安全服务；互联网数据服务；个人互联网直播服务；物联网应用服 务；互联网设备销售；互联网设备制造；物业管理；物业服务评估；企业管理；房地产经纪；房地产评 估；市场营销策划；资源再生利用技术研发；信息系统集成服务；软件外包服务；软件开发；人工智能 应用软件开发；数据处理和存储支持服务；网络与信息安全软件开发；数字文化创意软件开发；人工智 能基础软件开发；人工智能理论与算法软件开发；专业设计服务；知识产权服务（专利代理服务除 外）；数字技术服务；数据处理服务（除许可业务外，可自主依法经营法律法规非禁止或限制的项 目）。 ...

Core Viewpoint - Recently, Kunshan Zhikeda Electronics Technology Co., Ltd. was established with a registered capital of 10 million RMB, indicating a new player in the electronics and technology sector [1] Company Summary - The legal representative of the newly established company is Li Hong [1] - The registered capital of the company is 10 million RMB [1] - The business scope includes a wide range of services and products such as technology services, electronic product sales, and industrial automation systems [1] Industry Summary - The company operates in various sectors including technology development, electronic components retail, and sales of machinery and metal products [1] - It also engages in software development and sales, as well as import and export activities [1] - The establishment of this company reflects ongoing growth and diversification in the electronics and technology industry [1]

天眼查App显示，近日，河北历谦电子科技有限公司成立，法定代表人为刘芳芳，注册资本300万人民 币，经营范围为一般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广;信息技 术咨询服务;信息咨询服务（不含许可类信息咨询服务）;电子元器件零售;电子元器件与机电组件设备销 售;计算机软硬件及辅助设备零售;计算机软硬件及辅助设备批发;机械零件、零部件销售;电力电子元器 件销售;计算器设备销售;电子元器件批发;电子真空器件销售;电子专用设备销售;办公设备销售;办公用品 销售;电子产品销售;日用百货销售（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Points - The company announced the completion of the conditions for the third lock-up period of its 2022 restricted stock incentive plan [2] Group 1 - The company held the 27th meeting of the third board of directors and the 22nd meeting of the third supervisory board on November 20, 2025 [2] - The board approved the proposal regarding the achievement of conditions for the release of the third lock-up period of the 2022 restricted stock incentive plan [2] - According to the relevant provisions of the incentive plan, the restricted stocks that meet the conditions for release will be unlocked and listed [2]

Group 1 - Lenovo and the Chinese Football Association have launched the first AI Command Center for football events in China, marking a significant step towards the integration of AI and sports [1][2] - The AI Command Center features a large-screen visualization and intelligent interaction model, covering three core functions: event status, event supervision, and command scheduling [1] - The center's operational management capabilities include real-time display of standings for 16 Chinese Super League teams, match schedules, and weather conditions across different regions [1] Group 2 - The establishment of the AI Command Center is expected to inject strong development momentum into the intelligent, professional, and international aspects of Chinese football [2] - Lenovo's full-stack AI has already been implemented across various industries, including manufacturing, education, and finance, showcasing its versatility [2] - Industry experts view Lenovo's push into "AI + Sports" as an expansion of its intelligent business sector, indicating ongoing growth in the AI ecosystem [3]

天眼查App显示，近日，成都市武侯区会创环讯科技有限公司成立，法定代表人为刘仕会，注册资本 100万人民币，经营范围为一般项目：电子产品销售；计算机软硬件及辅助设备零售；机械设备研发； 计算机软硬件及辅助设备批发；集成电路芯片及产品销售；机械电气设备销售；日用电器修理；集成电 路销售；集成电路设计；智能控制系统集成；信息系统集成服务；集成电路芯片设计及服务；电子元器 件批发；音响设备销售；通信设备销售；移动通信设备销售；计算机及办公设备维修；移动终端设备销 售；软件开发；网络设备销售；通讯设备销售；国内贸易代理；会议及展览服务；互联网设备销售；电 线、电缆经营；电力设施器材销售；输变配电监测控制设备销售；电子元器件与机电组件设备销售；广 播电视传输设备销售；光电子器件销售；电力电子元器件销售；半导体器件专用设备销售；文化用品设 备出租；组织文化艺术交流活动；专业设计服务；商业综合体管理服务；办公设备销售；教学用模型及 教具销售；互联网销售（除销售需要许可的商品）；文具用品零售；体育用品及器材批发。（除依法须 经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，道孚建安电子科技有限公司成立，法定代表人为六珍彪来，注册资本10万人民 币，经营范围为许可项目：第二类增值电信业务；互联网信息服务。（依法须经批准的项目，经相关部 门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）一般项目：软件开 发；互联网销售（除销售需要许可的商品）；信息咨询服务（不含许可类信息咨询服务）；广告制作； 广告发布；广告设计、代理；计算机软硬件及辅助设备批发；居民日常生活服务；商务代理代办服务； 非食用植物油销售；非食用植物油加工；新能源汽车生产测试设备销售；新能源原动设备销售；家具安 装和维修服务；家用电器安装服务；发电技术服务；物联网技术研发；技术服务、技术开发、技术咨 询、技术交流、技术转让、技术推广；非电力家用器具销售；日用化学产品销售；政府采购代理服务； 城乡市容管理。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...