Core Viewpoint - Keda Intelligent experienced a stock price decline of 2.04% on October 14, with a trading volume of 3.58 billion yuan and a market capitalization of 10.483 billion yuan [1] Financial Performance - Keda Intelligent reported a revenue of 1.34 billion yuan for the first half of 2025, representing a year-on-year growth of 7.17% - The net profit attributable to shareholders reached 76.81 million yuan, showing a significant increase of 214.85% compared to the previous year [2] Stock Market Activity - The stock has increased by 35.11% year-to-date, with a 1.97% rise over the last five trading days, a 3.38% increase over the last 20 days, and a 30.27% rise over the last 60 days [1] - Keda Intelligent has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on August 28, where it recorded a net buy of -199 million yuan [1] Shareholder Information - As of June 30, 2025, Keda Intelligent had 73,300 shareholders, a decrease of 5.60% from the previous period, with an average of 8,642 circulating shares per shareholder, an increase of 5.93% [2] - The top ten circulating shareholders include various ETFs, with notable increases in holdings from several funds [3]

Core Viewpoint - The stock of Guodian NARI Technology Co., Ltd. has shown a recent upward trend, with a notable increase in trading volume and net inflow of funds, indicating positive market sentiment towards the company [1][2]. Company Overview - Guodian NARI, established on February 28, 2001, and listed on October 16, 2003, is located in Nanjing, Jiangsu Province. The company specializes in power grid automation, industrial control, power generation, renewable energy, and energy-saving environmental protection [2]. - The main revenue source is from the electrical equipment manufacturing industry, accounting for 99.87% of total revenue, with a minor contribution from other sectors [2]. Financial Performance - For the first half of 2025, Guodian NARI reported a revenue of 24.243 billion yuan, reflecting a year-on-year growth of 20.53%. The net profit attributable to shareholders was 2.952 billion yuan, up by 8.97% compared to the previous year [2]. - The company has distributed a total of 24.308 billion yuan in dividends since its A-share listing, with 12.674 billion yuan distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased to 100,400, a reduction of 8.75%. The average number of circulating shares per shareholder increased by 9.59% to 79,622 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 1.089 billion shares, a decrease of 27.48 million shares from the previous period [3].

Core Viewpoint - Keda Intelligent experienced a stock price decline of 2.04% on October 10, with a current price of 13.45 CNY per share and a total market capitalization of 10.468 billion CNY [1] Financial Performance - For the first half of 2025, Keda Intelligent achieved a revenue of 1.34 billion CNY, representing a year-on-year growth of 7.17%, and a net profit attributable to shareholders of 76.805 million CNY, which is a significant increase of 214.85% year-on-year [2] - The company has seen a stock price increase of 34.90% year-to-date, with a 1.05% rise over the last five trading days, 8.82% over the last 20 days, and 32.91% over the last 60 days [1] Shareholder Information - As of June 30, 2025, Keda Intelligent had 73,300 shareholders, a decrease of 5.60% from the previous period, with an average of 8,642 circulating shares per shareholder, an increase of 5.93% [2] - The company has distributed a total of 244 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Major Shareholders - The top ten circulating shareholders include notable entities such as Huaxia CSI Robot ETF, which holds 13.9408 million shares, and Hong Kong Central Clearing Limited, holding 8.7225 million shares, both of which have increased their holdings compared to the previous period [3]

Core Viewpoint - Oriental Electronics has shown a positive stock performance with a year-to-date increase of 15.54% and a market capitalization of 16.464 billion yuan as of October 9 [1][2]. Financial Performance - For the first half of 2025, Oriental Electronics achieved a revenue of 3.162 billion yuan, representing a year-on-year growth of 12.18%, and a net profit attributable to shareholders of 302 million yuan, up 19.65% year-on-year [2]. - The company has distributed a total of 702 million yuan in dividends since its A-share listing, with 367 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 9, the stock price increased by 2.08% to 12.28 yuan per share, with a trading volume of 1.03 billion yuan and a turnover rate of 0.63% [1]. - The net inflow of main funds was 6.335 million yuan, with large orders accounting for 28.67% of purchases and 19.96% of sales [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 11.27% to 74,300, while the average circulating shares per person increased by 12.70% to 18,039 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Penghua New Energy Mixed Fund, with notable changes in their holdings [3].

Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company's revenue from the power grid business has shown steady growth, with a year-on-year increase of 15.62% in the first half of 2025, reaching 4.02 billion yuan, while the revenue from the power grid automation business increased by 2.21% to 1.726 billion yuan [1][5] - The company possesses leading technology in various fields such as transmission and transformation protection and automation systems, distribution and utilization systems, and power electronics applications, achieving significant growth in bidding amounts for major projects with the State Grid and Southern Grid [1][2] - The data center sector is expected to open new growth avenues, with the company winning multiple projects in regions like Northwest and North China, and its solid-state transformer products are well-suited for next-generation data center architectures [3] Financial Summary - The company is projected to achieve net profits of 813 million yuan, 969 million yuan, and 1.105 billion yuan for the years 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 13.6%, 19.1%, and 14.1% [3][4] - The earnings per share (EPS) are expected to be 0.98 yuan, 1.16 yuan, and 1.33 yuan for the same years, with corresponding price-to-earnings (P/E) ratios of 19.6, 16.4, and 14.4 [4][9] - Revenue is forecasted to grow from 5.751 billion yuan in 2023 to 11.591 billion yuan in 2027, with growth rates of 13.2%, 20.9%, 19.0%, 17.6%, and 19.1% over the years [4][9]

Core Insights - Jinzhitech's stock price increased by 2.05% on September 30, reaching 11.43 CNY per share, with a total market capitalization of 4.579 billion CNY [1] - The company has seen a year-to-date stock price increase of 29.67%, with notable gains over various trading periods [1] - Jinzhitech's main business involves automation, information technology, and intelligent technology applications in smart energy and smart city sectors [2] Financial Performance - For the first half of 2025, Jinzhitech reported operating revenue of 656 million CNY, a year-on-year decrease of 7.58%, while net profit attributable to shareholders increased by 11.32% to 31.43 million CNY [2] - The company has distributed a total of 452 million CNY in dividends since its A-share listing, with 66.1 million CNY distributed over the past three years [3] Shareholder Information - As of September 19, the number of shareholders for Jinzhitech was 49,600, a decrease of 5.79% from the previous period, with an average of 7,983 circulating shares per shareholder, an increase of 6.15% [2]

Core Viewpoint - The stock of Guodian NARI has shown a slight increase recently, with a notable net inflow of funds, despite a year-to-date decline in share price [1][2]. Financial Performance - For the first half of 2025, Guodian NARI reported a revenue of 24.243 billion yuan, representing a year-on-year growth of 20.53% [2]. - The net profit attributable to shareholders for the same period was 2.952 billion yuan, reflecting an 8.97% increase compared to the previous year [2]. Stock Market Activity - As of September 30, Guodian NARI's stock price was 23.00 yuan per share, with a trading volume of 843 million yuan and a market capitalization of 184.738 billion yuan [1]. - The stock has experienced a year-to-date decline of 6.66%, but has seen a recent uptick of 3.73% over the last five trading days [1]. Shareholder Information - As of June 30, the number of shareholders for Guodian NARI was 100,400, a decrease of 8.75% from the previous period [2]. - The average number of circulating shares per shareholder increased by 9.59% to 79,622 shares [2]. Dividend Distribution - Guodian NARI has cumulatively distributed 24.308 billion yuan in dividends since its A-share listing, with 12.674 billion yuan distributed over the last three years [3]. Institutional Holdings - As of June 30, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 1.089 billion shares, a decrease of 27.4801 million shares from the previous period [3]. - Other notable institutional shareholders include various ETFs, which have seen increases in their holdings [3].

Core Viewpoint - Shandong Shanda Electric Power Technology Co., Ltd. has experienced a decline in stock price and significant capital outflow, while also showing growth in revenue and net profit year-on-year [1][2]. Group 1: Stock Performance - On September 30, Shanda Electric's stock price fell by 2.01%, reaching 51.16 CNY per share, with a trading volume of 119 million CNY and a turnover rate of 6.68%, resulting in a total market capitalization of 8.333 billion CNY [1]. - The stock has decreased by 23.47% year-to-date, with a slight decline of 1.33% over the last five trading days, but has increased by 3.86% over the last 20 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on July 23, where it recorded a net purchase of 93.9325 million CNY [1]. Group 2: Company Overview - Shanda Electric, established on April 12, 2001, is located in Jinan, Shandong Province, and focuses on the research and industrialization of intelligent products related to power systems [2]. - The company operates in two main business segments: intelligent monitoring of power grids and renewable energy, with leading products including fault recording monitoring devices and transmission line fault monitoring devices [2]. - The revenue composition is as follows: fault recording monitoring devices account for 63.61%, transmission line fault monitoring devices for 35.17%, and other products for 1.22% [2]. Group 3: Financial Performance - For the first half of 2025, Shanda Electric reported a revenue of 281 million CNY, representing a year-on-year growth of 13.91%, and a net profit attributable to shareholders of 49.3324 million CNY, which is a 20.57% increase compared to the previous year [2].

Group 1 - Zhiguang Electric plans to acquire minority stakes in its subsidiary Zhiguang Energy Storage through a combination of share issuance and cash payment, leading to a temporary suspension of its stock trading for up to 10 trading days [1] - Guangbo Co. has been awarded a procurement project by the State Grid Corporation of China, confirming its status as one of the successful bidders for office and industrial supplies [2] - Dongguan Holdings announced the resignation of its chairman Wang Chong'en due to work changes, with Lin Yongsen appointed as the interim chairman [2] Group 2 - *ST Tianmao's stock will be delisted on September 30, 2025, following the Shenzhen Stock Exchange's decision to terminate its listing [3] - Salt Lake Co. has entered the trial production phase for its 40,000 tons/year integrated lithium salt project, successfully producing qualified battery-grade lithium carbonate [5] - Xindazheng plans to adjust its share repurchase price limit from 13.78 yuan to 16.79 yuan per share, maintaining a total repurchase fund of 10 million to 20 million yuan [7] Group 3 - Xindazheng intends to acquire 75.15% of Jiaxin Liheng's equity through share issuance and cash payment, with the transaction price yet to be determined [9] - Koli'er's actual controller plans to reduce his stake by up to 2% of the company's total shares due to funding needs [11] - United Precision's two actual controllers plan to collectively reduce their stake by up to 3% of the company's total shares for personal financial reasons [13] Group 4 - Yipinhong's subsidiary has received a drug registration certificate for L-carnitine oral solution, which is classified as a chemical drug [15] - Tiancheng Self-Control plans to establish a wholly-owned subsidiary in Japan and invest in a warehouse and production base with a budget of up to 10 million yuan [17] - Ningbo Huaxiang's joint venture has obtained a patent license from Jilin University for PEEK technology, which will enhance its R&D capabilities [21] Group 5 - Bright Dairy's subsidiary Synlait Milk Limited plans to sell its North Island assets to Abbott for $170 million, aiming to focus on core business development [23] - Nanjing Pharmaceutical has signed a strategic investment agreement with Guangzhou Baiyunshan Pharmaceutical Group, with the latter acquiring 11.04% of Nanjing Pharmaceutical's shares [24] - Guoxing Optoelectronics' application for a private placement of A-shares has been accepted by the Shenzhen Stock Exchange [25] Group 6 - Hailianxun has received approval from the China Securities Regulatory Commission for its plan to merge with Hangqilun B through a share exchange [27] - CITIC Bank's risk director Hu Gang has resigned, with Jin Xinian appointed as the new risk director pending regulatory approval [29]

Core Viewpoint - Xuji Electric experienced a stock price increase of 2.04% on September 29, reaching 25.57 CNY per share, with a total market capitalization of 26.049 billion CNY [1] Financial Performance - Xuji Electric's revenue for the first half of 2025 was 6.447 billion CNY, a year-on-year decrease of 5.68%, while the net profit attributable to shareholders was 634 million CNY, reflecting a year-on-year increase of 0.96% [2] - The company has cumulatively distributed 2.029 billion CNY in dividends since its A-share listing, with 870 million CNY distributed over the past three years [3] Stock Market Activity - The stock has seen a year-to-date decline of 6.33%, but has increased by 8.44% over the last five trading days, 9.88% over the last twenty days, and 15.91% over the last sixty days [1] - As of August 20, 2025, the number of shareholders was 114,000, a decrease of 2.48% from the previous period, with an average of 8,844 circulating shares per shareholder, an increase of 2.54% [2] Business Segments - Xuji Electric's main business segments include smart distribution and transformation, smart electricity meters, smart medium-voltage power supply equipment, new energy and system integration, charging and swapping equipment, and DC transmission systems, with respective revenue contributions of 28.64%, 23.71%, 20.76%, 10.79%, 8.96%, and 7.14% [2] Shareholder Structure - As of June 30, 2025, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 30.6133 million shares, a decrease of 2.4873 million shares from the previous period [3]