Group 1 - The core viewpoint of the news is the performance and financial metrics of Tonglian Precision, which saw a stock price increase of 5.08% to 55.68 CNY per share, with a trading volume of 149 million CNY and a market capitalization of 8.922 billion CNY [1] - Tonglian Precision, established on June 12, 2016, and listed on December 27, 2021, specializes in the research, design, production, and sales of high-precision, high-density, and complex-shaped precision components [1] - The company's main business revenue composition includes: 66.47% from other metal craft products and plastic products, 30.78% from MIM products, 1.43% from molds and tools, and 1.32% from other sources [1] Group 2 - From the perspective of major fund holdings, Minsheng Jia Yin Fund has a significant position in Tonglian Precision, with the Minsheng Jia Yin Ju You Selected Mixed Fund (013296) holding 304,800 shares, accounting for 5.2% of the fund's net value, ranking as the eighth largest holding [2] - The Minsheng Jia Yin Ju You Selected Mixed Fund was established on October 14, 2021, with a latest scale of 134 million CNY, achieving a year-to-date return of 22.2% and a one-year return of 108.9% [2] - The fund manager, Zhu Chenzhe, has been in position for 3 years and 284 days, with the fund's total asset scale at 1.483 billion CNY, achieving a best return of 12.53% and a worst return of 0.74% during his tenure [3]

Core Viewpoint - JinDi Co., Ltd. is actively expanding its core business by planning to acquire a controlling stake in Guangzhou Uni Precision Co., Ltd., which will enhance its market share and customer base in the precision stamping business [1][2][3]. Group 1: Acquisition Details - The acquisition agreement was signed on September 19, and if completed, Uni Precision will become a subsidiary of JinDi [3]. - Uni Precision, established in November 2009 with a registered capital of 35 million USD, specializes in manufacturing gears, gearboxes, and automotive parts [3]. - The acquisition price will be determined based on an audit and evaluation by a third-party agency, and it does not constitute a related party transaction or a major asset restructuring [3]. Group 2: Business Performance - In the first half of 2025, JinDi reported a net profit attributable to shareholders of 75.93 million CNY, a year-on-year increase of 32.86% [2][7]. - The company achieved a revenue of 835 million CNY, reflecting a 40.57% growth compared to the previous year, driven by increased production of precision components and bearing retainers [7]. - The revenue from bearing retainers reached 427 million CNY, up 43.86%, with wind power-related products seeing a significant increase of 118.65% [7]. Group 3: Strategic Initiatives - JinDi has been actively investing in its core business, including a 150 million CNY investment in Serbia for a production base expected to start in Q1 2026 [5]. - The company plans to invest at least 1.5 billion CNY in Chongqing for a smart manufacturing project focused on high-end equipment components [5]. - JinDi's subsidiaries are also investing in precision manufacturing projects for new energy equipment, with planned investments of 530 million CNY and 300 million CNY [5]. Group 4: Research and Development - JinDi's R&D expenses for the first half of 2025 reached 65.81 million CNY, accounting for 7.88% of its revenue, with a year-on-year increase of 29.64% [7][8]. - The company holds 903 domestic patents, including 163 invention patents, and has added 124 new patents in the first half of 2025 [8]. - JinDi has established strong partnerships with major global bearing manufacturers and top automotive parts suppliers, enhancing its competitive edge [8].

Group 1 - The core viewpoint of the news is the performance and market position of Tonglian Precision, which saw a stock price increase of 5.06% to 55.68 CNY per share, with a total market capitalization of 8.922 billion CNY [1] - Tonglian Precision, established on June 12, 2016, and listed on December 27, 2021, specializes in the research, design, production, and sales of high-precision, high-density, and complex-shaped precision components [1] - The company's main business revenue composition includes 66.47% from other metal craft products and plastic products, 30.78% from MIM products, 1.43% from molds and tools, and 1.32% from other sources [1] Group 2 - From the perspective of fund holdings, Minsheng Jianyin Fund has a significant position in Tonglian Precision, with its fund "Minsheng Jianyin Ju You Selected Mixed" holding 304,800 shares, representing 5.2% of the fund's net value [2] - The fund has achieved a floating profit of approximately 816,900 CNY as of the report date [2] - The fund was established on October 14, 2021, with a current scale of 134 million CNY and has reported a year-to-date return of 16.98% [2]

Group 1: Company Overview and Activities - The company is named Chongqing Meilixin Technology Co., Ltd., with stock code 301307 [1][2] - The investor relations activity took place on September 18, 2025, in the company meeting room [3] Group 2: Robotics and Semiconductor Development - The company is actively developing humanoid robot shells and components, aligning with industry demand and customer needs [3] - In May 2025, the company established Chongqing Yulai Sheng Precision Technology Co., Ltd. to provide precision components for the semiconductor sector [4] Group 3: North American Operations - The North American factory is preparing for production, including facility renovations and equipment procurement [5] Group 4: Liquid Cooling Technology - The company has developed aluminum alloy components for liquid cooling, primarily used in charging stations and next-generation communication products [6] Group 5: Customer Expansion in 2025 - In the first half of 2025, the company entered the supply chain of major clients like Nokia in the communication sector and secured contracts in the semiconductor and energy storage fields [7] Group 6: Shanghai Operations - Shanghai Meilixin is providing thermal management solutions, including liquid cooling technology, tailored to customer requirements [8]

Core Insights - On September 15, Tonglian Precision experienced a 4.00% decline in stock price, with a trading volume of 361 million yuan [1] - The company reported a financing buy-in of 49.87 million yuan and a financing repayment of 57.59 million yuan, resulting in a net financing outflow of 7.71 million yuan on the same day [1] - As of September 15, the total margin balance for Tonglian Precision was 284 million yuan, representing 3.87% of its market capitalization [1] Financing and Margin Data - The financing buy-in for Tonglian Precision on September 15 was 49.87 million yuan, with a current financing balance of 284 million yuan, which is above the 90th percentile of the past year [1] - In terms of securities lending, there were no shares repaid or sold on September 15, with a lending balance of 0.00 shares, indicating a high level of inactivity in this area [1] Company Overview - Tonglian Precision, established on June 12, 2016, and listed on December 27, 2021, is located in Longhua District, Shenzhen, Guangdong Province [1] - The company specializes in the research, design, production, and sales of high-precision, high-density, complex-shaped, and aesthetically pleasing precision components [1] - The revenue composition includes 66.47% from other metal craft products and plastic products, 30.78% from MIM products, 1.43% from molds and equipment, and 1.32% from other sources [1] Financial Performance - As of June 30, the number of shareholders for Tonglian Precision was 5,843, a decrease of 10.30% from the previous period, while the average circulating shares per person increased by 66.36% to 27,424 shares [2] - For the first half of 2025, the company achieved a revenue of 402 million yuan, reflecting a year-on-year growth of 10.01%, while the net profit attributable to shareholders was 4.87 million yuan, a significant decrease of 88.24% year-on-year [2] Dividend and Shareholding Structure - Since its A-share listing, Tonglian Precision has distributed a total of 147 million yuan in dividends, with 131 million yuan distributed over the past three years [3] - As of June 30, 2025, among the top ten circulating shareholders, Jinying Technology Innovation Stock A is the eighth largest shareholder with 2.26 million shares, marking its entry as a new shareholder [3] - Additionally, Bosera Science and Technology Innovation Board Three-Year Open Mixed Fund increased its holdings by 438,200 shares, while Xinao Craftsmanship Selected Two-Year Holding Period Mixed Fund exited the top ten shareholders list [3]

Core Viewpoint - The company, Tonglian Precision (688210), reported stable revenue growth in the first half of 2025, with a focus on R&D investment and expanding its capabilities in precision manufacturing, particularly in lightweight materials and advanced manufacturing processes [1][2][10]. Financial Performance - In the first half of 2025, the company achieved revenue of 402,080,771.08 yuan, a year-on-year increase of 10.01%. The net profit attributable to shareholders was 4,873,119.94 yuan, with a non-GAAP net profit of 27,059,973.41 yuan [1][10]. - The company’s net profit saw a significant decline of 88.24% year-on-year, primarily due to increased management expenses and the impact of stock incentive plans [7][10]. R&D Investment - The company invested 50,150,207.07 yuan in R&D during the first half of 2025, accounting for 12.47% of its revenue. The focus areas included lightweight materials and advanced manufacturing processes [2][9]. - The R&D efforts are aimed at meeting the demand for lightweight and high-performance components, particularly in titanium, magnesium, aluminum alloys, and carbon fiber [2][9]. Competitive Advantages - The company maintains a competitive edge through its focus on customer needs, technological innovation, and efficient management practices. Key advantages include process innovation, product layout, production control, and high automation levels [3][9]. Business Expansion - The company is diversifying its manufacturing capabilities beyond Metal Injection Molding (MIM) to include various precision component manufacturing techniques such as CNC machining and laser processing, responding to diverse customer demands [4][5]. - The new factories in Hunan and Vietnam are being developed to support both MIM and non-MIM production, with equipment purchases and production ramp-up based on customer needs [5]. Industry Outlook - The industry is experiencing a shift towards lightweight materials in consumer electronics, driven by advancements in AI technology and the demand for portable devices. This trend is expected to create new growth opportunities [8][9]. - The company is strategically positioned to leverage these trends by focusing on innovative materials and manufacturing processes, enhancing its collaboration with customers [8][9].

Company Overview - Tonglian Precision Manufacturing Co., Ltd. is located in Longhua District, Shenzhen, Guangdong Province, and was established on June 12, 2016. The company went public on December 27, 2021. Its main business involves the research, design, production, and sales of high-precision, high-density, complex-shaped, and aesthetically pleasing precision components [1]. Financial Performance - As of September 4, the stock price of Tonglian Precision increased by 5.07%, reaching 43.71 CNY per share, with a trading volume of 39.0643 million CNY and a turnover rate of 0.57%. The total market capitalization is 7.004 billion CNY [1]. - The revenue composition of the company includes: 66.47% from other metal craft products and plastic products, 30.78% from MIM products, 1.43% from molds and equipment, and 1.32% from other sources [1]. Fund Holdings - Minsheng Jianyin Fund has a significant holding in Tonglian Precision, with its fund "Minsheng Jianyin Ju You Selected Mixed Fund" (013296) holding 304,800 shares, accounting for 5.2% of the fund's net value, making it the eighth largest holding. The estimated floating profit today is approximately 643,200 CNY [2]. - The Minsheng Jianyin Ju You Selected Mixed Fund was established on October 14, 2021, with a current scale of 134 million CNY. Year-to-date returns are 11.26%, ranking 5294 out of 8180 in its category, while the one-year return is 74.48%, ranking 936 out of 7978. Since its inception, the fund has experienced a loss of 24.99% [2]. Fund Management - The fund manager of Minsheng Jianyin Ju You Selected Mixed Fund is Zhu Chenzhe, who has been in the position for 3 years and 265 days. The total asset size of the fund is 1.483 billion CNY, with the best fund return during his tenure being 7.02% and the worst being -4.18% [3].

Core Viewpoint - The company, Best (贝斯特), has shown significant growth in its financial performance, particularly in net profit and contract liabilities, indicating strong demand for its products and a solid growth logic behind its financials [3][9]. Financial Performance - As of Q2 2025, the company reported a net profit of 148 million yuan, representing a 33% increase year-on-year [3]. - Inventory reached 286 million yuan, up 4.23% from the previous year, while contract liabilities increased by 41% to 16.86 million yuan, indicating a robust order intake [3][9]. Growth Logic - The substantial increase in contract liabilities suggests that customers are eager to secure the company's products, reflecting strong market demand [3][5]. - The growth in inventory is a proactive measure to ensure timely delivery of products, driven by the high volume of customer orders [6][8]. - The increase in net profit is attributed to higher sales from increased orders and improved production efficiency, rather than financial engineering [8][9]. Future Outlook - The company is expected to continue experiencing profit growth due to a backlog of orders and its involvement in emerging sectors such as humanoid robots and hydrogen fuel cells, which are anticipated to attract more significant orders in the future [9][10].

Group 1 - A new company named Qingyuan Xinchao Precision Parts Co., Ltd. has been established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Tang Yimei [1] - The company's business scope includes general projects such as mechanical parts processing, sales of mechanical parts, manufacturing of general parts, and various automotive and motorcycle parts [1] Group 2 - The company is involved in the manufacturing and research of electronic components, hardware products, and plastic products [1] - It also engages in the import and export of goods and technology, excluding items that require special approval [1] - The company operates under the principle of conducting business activities independently based on its business license [1]

Company Overview - Tonglian Precision Manufacturing Co., Ltd. is located in Longhua District, Shenzhen, Guangdong Province, and was established on June 12, 2016. The company went public on December 27, 2021. Its main business involves the research, design, production, and sales of high-precision, high-density, complex-shaped, and aesthetically pleasing precision components [1]. Business Performance - As of August 25, the stock price of Tonglian Precision fell by 5.07%, trading at 40.82 CNY per share, with a transaction volume of 256 million CNY and a turnover rate of 3.74%. The total market capitalization is 6.541 billion CNY [1]. - The revenue composition of the company includes: 56.47% from other metal craft products and plastic products, 39.15% from MIM products, 2.93% from molds and tools, and 1.45% from other sources [1]. Fund Holdings - Jin Xin Fund has a significant holding in Tonglian Precision, with its Jin Xin Quality Growth Mixed A Fund (018204) holding 13,000 shares, unchanged from the previous period. This represents 2.93% of the fund's net value, making it the third-largest holding. The estimated floating loss today is approximately 28,300 CNY [2]. - The Jin Xin Quality Growth Mixed A Fund was established on April 12, 2023, with a latest scale of 6.8095 million CNY. Year-to-date returns are 46.99%, ranking 506 out of 8,259 in its category. Over the past year, the fund has achieved a return of 99.24%, ranking 243 out of 8,023 [2]. Fund Management - The fund manager of Jin Xin Quality Growth Mixed A Fund is Huang Biao, who has been in the position for 4 years and 95 days. The total asset size of the fund is 1.238 billion CNY. During his tenure, the best fund return was 94.47%, while the worst was 9.87% [3].