10月9日，鼎阳科技涨3.85%，成交额9622.01万元。两融数据显示，当日鼎阳科技获融资买入额1352.90 万元，融资偿还1140.52万元，融资净买入212.38万元。截至10月9日，鼎阳科技融资融券余额合计1.44 亿元。 融资方面，鼎阳科技当日融资买入1352.90万元。当前融资余额1.44亿元，占流通市值的2.32%，融资余 额超过近一年80%分位水平，处于高位。 融券方面，鼎阳科技10月9日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年80%分位水平，处于高位。 资料显示，深圳市鼎阳科技股份有限公司位于广东省深圳市宝安区新安街道兴东社区68区安通达工业厂 区5栋办公楼1-4层、4栋厂房3-4层,广东省深圳市宝安区71区留仙一路二巷26号轻工厂房一栋1-7层，成 立日期2007年6月13日，上市日期2021年12月1日，公司主营业务涉及通用电子测试测量仪器的研发、生 产和销售。主营业务收入构成为：四大主力产品80.79%，其他产品17.55%，其他(补充)1.67%。 截至6月30日，鼎阳科技股东户数5205.0 ...

分红方面，鼎阳科技A股上市后累计派现3.62亿元。近三年，累计派现3.12亿元。 资料显示，深圳市鼎阳科技股份有限公司位于广东省深圳市宝安区新安街道兴东社区68区安通达工业厂 区5栋办公楼1-4层、4栋厂房3-4层,广东省深圳市宝安区71区留仙一路二巷26号轻工厂房一栋1-7层，成 立日期2007年6月13日，上市日期2021年12月1日，公司主营业务涉及通用电子测试测量仪器的研发、生 产和销售。主营业务收入构成为：四大主力产品80.79%，其他产品17.55%，其他(补充)1.67%。 截至6月30日，鼎阳科技股东户数5205.00，较上期减少7.24%；人均流通股30585股，较上期增加 7.80%。2025年1月-6月，鼎阳科技实现营业收入2.79亿元，同比增长24.61%；归母净利润7687.57万元， 同比增长31.54%。 9月25日，鼎阳科技涨2.69%，成交额9231.89万元。两融数据显示，当日鼎阳科技获融资买入额1104.03 万元，融资偿还909.52万元，融资净买入194.51万元。截至9月25日，鼎阳科技融资融券余额合计1.48亿 元。 融资方面，鼎阳科技当日融资买入1104.03万 ...

中国经济网北京9月23日讯 鼎阳科技(688112.SH)昨晚发布的股东询价转让计划书显示，拟参与鼎阳科技 首发前股东询价转让的股东为秦轲、邵海涛、赵亚锋、鼎力向阳、众力扛鼎、博时同裕；出让方拟转让股份 的总数为3,184,000股，占鼎阳科技总股本的比例为2.00%；本次询价转让不通过集中竞价交易或大宗交易方 式进行，不属于通过二级市场减持。受让方通过询价转让受让的股份，在受让后6个月内不得转让；本次询 价转让的受让方为具备相应定价能力和风险承受能力的机构投资者。 股东与组织券商综合考虑股东自身资金需求等因素，协商确定本次询价转让的价格下限，且本次询价转 让的价格下限不低于发送认购邀请书之日（即2025年9月22日，含当日）前20个交易日股票交易均价的70%。 本次询价认购的报价结束后，中信证券将对有效认购进行累计统计，依次按照价格优先、数量优先、时间优 先的原则确定转让价格。当全部有效申购的股份总数等于或首次超过3,184,000股时，累计有效申购的最低认 购价格即为本次询价转让价格。如果询价对象累计有效认购股份总数少于3,184,000股，全部有效认购中的最 低报价将被确定为本次询价转让价格。 2021 ...

9月23日，鼎阳科技跌5.11%，截至发稿，报36.20元/股，成交3895.13万元，换手率0.66%，总市值57.63 亿元。 数据显示，易方达基金旗下1只基金位居鼎阳科技十大流通股东。易方达积极成长混合（110005）二季 度减持23.6万股，持有股数272.36万股，占流通股的比例为1.71%。根据测算，今日浮亏损失约531.1万 元。 资料显示，深圳市鼎阳科技股份有限公司位于广东省深圳市宝安区新安街道兴东社区68区安通达工业厂 区5栋办公楼1-4层、4栋厂房3-4层,广东省深圳市宝安区71区留仙一路二巷26号轻工厂房一栋1-7层，成 立日期2007年6月13日，上市日期2021年12月1日，公司主营业务涉及通用电子测试测量仪器的研发、生 产和销售。主营业务收入构成为：四大主力产品80.79%，其他产品17.55%，其他(补充)1.67%。 易方达积极成长混合（110005）成立日期2004年9月9日，最新规模24.93亿。今年以来收益53.89%，同 类排名851/8172；近一年收益89.57%，同类排名905/7995；成立以来收益1057.01%。 从鼎阳科技十大流通股东角度 责任编辑：小浪快 ...

Core Viewpoint - Dingyang Technology experienced a decline of 1.18% on August 27, with a trading volume of 179 million yuan, indicating a potential shift in investor sentiment [1] Financing Summary - On August 27, Dingyang Technology had a financing buy-in amount of 23.68 million yuan and a financing repayment of 24.86 million yuan, resulting in a net financing buy of -1.18 million yuan [1] - The total financing and securities balance as of August 27 was 177 million yuan, which accounts for 2.88% of the circulating market value, indicating a high level compared to the past year [1] - The company had no short selling activity on August 27, with a short selling balance of 0.00 yuan, also reflecting a high level compared to the past year [1] Business Performance - As of June 30, Dingyang Technology reported a total of 5,205 shareholders, a decrease of 7.24% from the previous period, while the average circulating shares per person increased by 7.80% to 30,585 shares [2] - For the first half of 2025, Dingyang Technology achieved an operating income of 279 million yuan, representing a year-on-year growth of 24.61%, and a net profit attributable to shareholders of 76.88 million yuan, up 31.54% year-on-year [2] Dividend Information - Since its A-share listing, Dingyang Technology has distributed a total of 362 million yuan in dividends, with 312 million yuan distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, among the top ten circulating shareholders, E Fund Active Growth Mixed Fund held 2.72 million shares, a decrease of 236,000 shares from the previous period [3] - China Europe Information Technology Mixed Fund A entered as a new shareholder with 2.02 million shares, while Hong Kong Central Clearing Limited reduced its holdings to 1.65 million shares [3]

日 | 不适 | 不适 | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 生产线技术升级改造项目 | | | 否 | 55,830,500.00 | 不适用 | 2,524,255.02 | | 55,830,500.00 | 30,086,716.09 | | -25,743,783.91 | | | | 53.89% 12 月 31 | | | | 否 | | | | | | | | | | | 用 用 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 日 | | | | | | | | | | | | | | | 已 | | 于 | | | | | | | | | | | | | | | 高端通用电子测试测量仪 | | | | | | | | | | | | | | | 器 | | | | | | | | | | | | | 2024 年 | | 不适 | 不适 | ...

Core Viewpoint - The global electronic test and measurement instrument market is approaching 100 billion, with a demand inflection point observed since 2025, setting the stage for accelerated performance in the industry [1][2]. Market Overview - The global electronic test and measurement instrument market is nearly 100 billion, with general instruments like digital oscilloscopes and RF instruments accounting for over 40% of the market, which is the primary focus for domestic listed companies [2]. - The market has been steadily expanding until 2022, driven by developments in downstream sectors such as communications, electronics, transportation, energy, education, and research [2]. Industry Changes - A demand inflection point has been identified, with a slowdown in growth for the electronic measurement instrument industry from 2023 to 2024, followed by a rebound starting in Q1 2025 [3]. - Domestic manufacturers are expected to return to a higher growth trajectory supported by domestic substitution [3]. - Continuous iteration of high-end products is evident, with significant sales of domestic high-end oscilloscopes and advancements in RF instruments [3]. Tariff Analysis - The domestic market for general electronic measurement instruments is dominated by foreign brands, with local companies holding only about 5% market share, indicating significant room for growth through domestic substitution [4]. - The economic advantages of domestic substitutes are expected to be amplified due to tariff impacts, with a potential acceleration in domestic substitution similar to the trends observed in 2019 [4]. - Domestic manufacturers are increasingly moving production overseas to mitigate tariff risks, which will enhance their global market reach in the long term [4].

Core Insights - The report from GF Securities highlights the increasing domestic competition in the general electronic testing and measurement instruments industry, driven by the intensifying US-China technological rivalry and the demand for new productive forces [1] - The global market for general electronic measurement instruments is expected to exceed 40 billion, with the Chinese market projected to reach 16 billion by 2024, indicating significant potential for domestic companies to increase their market share [1] - The current domestic market penetration rate is only 7%, suggesting a vast space for replacement and growth [1] Group 1: Market Dynamics - The general electronic measurement instruments include digital oscilloscopes, RF instruments, and waveform generators, with a low domestic penetration rate and high barriers to entry [1] - According to Frost & Sullivan, the domestic market share of key players like Puyuan Precision, Dingyang Technology, and Urit has increased from 3% to 7% from 2018 to 2024, indicating a gradual shift towards domestic alternatives [1] Group 2: Factors Supporting Growth - The combination of geopolitical tensions and the need for high-end product localization is driving a surge in domestic demand for high-end products [2] - Domestic companies are increasingly developing self-researched chips, which mitigates reliance on foreign suppliers and accelerates product iteration [2] - The established R&D teams and distribution channels of domestic firms are well-prepared for the implementation of domestic alternatives [2] Group 3: Industry Recovery - The industry has experienced a downturn for nearly three years, but signs of recovery are emerging, with a positive growth rate of around 5% expected by March 2025 [3] - The strong demand from high-end manufacturing sectors such as new energy, automotive, and semiconductors is driving the commercialization of domestic brands [3] - Domestic high-end products, such as 13GHz oscilloscopes and 50GHz spectrum analyzers, are increasingly meeting the needs of local industrial enterprises [3]

Group 1: Yingjie Electric - In 2024, Yingjie Electric's revenue is projected to be 1.78 billion yuan, a year-on-year increase of 0.59%, while net profit is expected to decline by 25.19% due to delays in revenue recognition in the photovoltaic industry, inventory write-downs, and increased expenses [1] - The company's cash flow from operating activities increased significantly to 601.77 million yuan, up by 46.20 million yuan year-on-year [1] - New orders decreased by approximately 40%, but the backlog remains over 2.7 billion yuan, with expectations for overseas photovoltaic orders to contribute to revenue recognition by 2025 [1] Group 2: Dingyang Technology - Dingyang Technology has established a comprehensive sales system in the global market, exporting to over 80 countries and regions [2] - The company has launched 10 new products in 2024 and 6 new products in 2025, focusing on high-end electronic testing and measurement instruments [2] - Dingyang aims to enhance its international brand influence and market share through a high-end development strategy and improved marketing channels [2] Group 3: Aibo Medical - Aibo Medical achieved total revenue of 1.41 billion yuan in 2024, a year-on-year increase of 48.24%, with net profit rising by 27.77% [3] - The company is experiencing significant growth in its Dragon Crystal® PR product line, although initial production quality and costs are challenges [3] - Aibo Medical's artificial lens business is expanding, with a notable increase in market share and a focus on high-end products to counteract price drops due to industry policies [3] Group 4: Libang Instruments - In Q1 2025, Libang Instruments reported revenue of 420 million yuan, a decline of 5%, with domestic sales down by 20% but international sales up by 7% [4] - The company is optimistic about domestic sales recovery due to improved market conditions and is leveraging AI technology in ultrasound imaging and smart healthcare [4] - Libang's gross margin is expected to rise to 57.92% in 2024, driven by increased sales of high-margin products [4]

Core Viewpoint - Dingyang Technology (688112) reported a strong performance in Q1 2025, with significant growth in both revenue and profit, driven by high-end product sales and continuous R&D investment [1][2] Financial Performance - The company achieved a revenue growth of 26.93% year-on-year in Q1 2025, with a net profit growth of 34.00% for the same period [1] - The overall gross margin stood at 61.80%, while the net profit margin increased to 30.87%, up by 1.62 percentage points year-on-year [2] - Gross profit increased by 15.93 million, representing a year-on-year growth of 24.31% [2] Product Performance - High-end products showed exceptional performance, with revenue growth of 86.60% year-on-year, contributing significantly to the company's overall growth [1] - The proportion of high-end products in total revenue rose to 29%, an increase of nearly 9 percentage points year-on-year [1] - Sales of products priced above 50,000 increased by 89.93% year-on-year, indicating strong market demand and recognition for high-end offerings [1] R&D and Investment - R&D investment reached 26.12 million, a year-on-year increase of 25.37%, accounting for 19.82% of total revenue [2] - The continuous investment in R&D and sales has led to an optimized product structure and enhanced profitability [2] Market Position - Dingyang Technology is one of the few domestic manufacturers with capabilities in developing, producing, and globally selling four major electronic testing and measurement instruments [1] - The company is positioned strongly in the high-end segment of the electronic testing and measurement instrument market, showcasing its competitive edge [2]