11月20日，智动力（维权）盘中下跌2.06%，截至14:09，报14.76元/股，成交5906.50万元，换手率 2.32%，总市值38.47亿元。 资金流向方面，主力资金净流出570.04万元，特大单买入0.00元，占比0.00%，卖出261.05万元，占比 4.42%；大单买入709.42万元，占比12.01%，卖出1018.42万元，占比17.24%。 智动力今年以来股价涨69.07%，近5个交易日跌4.90%，近20日跌0.47%，近60日涨10.40%。 截至11月10日，智动力股东户数1.84万，较上期减少14.86%；人均流通股9230股，较上期增加17.46%。 2025年1月-9月，智动力实现营业收入11.97亿元，同比增长6.03%；归母净利润-6445.38万元，同比增长 19.96%。 分红方面，智动力A股上市后累计派现4863.84万元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，智动力十大流通股东中，大成中证360互联网+指数A（002236） 退出十大流通股东之列。 责任编辑：小浪快报 今年以来智动力已经3次登上龙虎榜，最近一次登上龙虎榜为8月26日， ...

Core Viewpoint - The stock of Zhihua Technology has experienced fluctuations, with a year-to-date increase of 74.11%, but a recent decline of 2.06% on November 14, indicating potential volatility in the market [1]. Company Overview - Zhihua Technology, established on July 26, 2004, and listed on August 4, 2017, is located in Dongguan, Guangdong Province. The company specializes in the research, production, and sales of functional components for consumer electronics, particularly mobile devices [1]. - The revenue composition of Zhihua Technology includes structural electronic components (39.37%), functional electronic components (39.30%), optical components (20.43%), and other supplementary products (0.91%) [1]. Financial Performance - For the period from January to September 2025, Zhihua Technology reported a revenue of 1.197 billion yuan, reflecting a year-on-year growth of 6.03%. However, the company recorded a net profit attributable to shareholders of -64.45 million yuan, which is a 19.96% increase compared to the previous year [2]. - Since its A-share listing, Zhihua Technology has distributed a total of 48.6384 million yuan in dividends, with no dividends paid in the last three years [3]. Shareholder Information - As of November 10, the number of shareholders for Zhihua Technology is 18,400, a decrease of 14.86% from the previous period. The average number of circulating shares per person has increased by 17.46% to 9,230 shares [2]. - The company is categorized under the electronic industry, specifically in consumer electronics and components assembly, and is associated with various concept sectors including QFII holdings and flexible electronics [2].

11月13日，智动力（维权）盘中上涨2.02%，截至13:04，报15.65元/股，成交6942.51万元，换手率 2.63%，总市值40.79亿元。 资金流向方面，主力资金净流入142.98万元，特大单买入613.00万元，占比8.83%，卖出577.25万元，占 比8.31%；大单买入1683.37万元，占比24.25%，卖出1576.13万元，占比22.70%。 智动力今年以来股价涨79.27%，近5个交易日跌2.92%，近20日涨0.64%，近60日涨42.01%。 今年以来智动力已经3次登上龙虎榜，最近一次登上龙虎榜为8月26日，当日龙虎榜净买入452.40万元； 买入总计6833.46万元 ，占总成交额比8.13%；卖出总计6381.06万元 ，占总成交额比7.59%。 资料显示，深圳市智动力精密技术股份有限公司位于广东省东莞市凤岗镇官井头村小布二路10号，成立 日期2004年7月26日，上市日期2017年8月4日，公司主营业务涉及手机等消费电子功能性器件的研发、 生产和销售。主营业务收入构成为：结构性电子器件39.37%，功能性电子器件39.30%，光学件 20.43%，其他(补充)0.91%。 ...

Group 1 - The core point of the news is that Zhihui Power's stock price dropped by 5.02% to 15.52 CNY per share, with a trading volume of 283 million CNY and a turnover rate of 10.48%, resulting in a total market capitalization of 4.045 billion CNY [1] - Zhihui Power, established on July 26, 2004, and listed on August 4, 2017, is located in Dongguan, Guangdong Province, and specializes in the research, production, and sales of functional components for consumer electronics such as mobile phones [1] - The company's main business revenue composition includes structural electronic components (39.37%), functional electronic components (39.30%), optical components (20.43%), and others (0.91%) [1] Group 2 - Among Zhihui Power's top ten circulating shareholders, a fund under Dacheng Fund holds a position, specifically the Dacheng CSI 360 Internet + Index A (002236), which increased its holdings by 3,200 shares in the second quarter, totaling 1.5806 million shares, representing 0.82% of the circulating shares [2] - The Dacheng CSI 360 Internet + Index A (002236) has a current scale of 698 million CNY and has achieved a year-to-date return of 33.9%, ranking 1402 out of 4218 in its category, with a one-year return of 56.23%, ranking 559 out of 3864 [2]

Core Viewpoint - The stock of Zhihui Power has experienced significant fluctuations, with a year-to-date increase of 72.74% and a recent decline of 2.01% on September 30, 2023, indicating volatility in investor sentiment and market conditions [1][2]. Group 1: Stock Performance - As of September 30, 2023, Zhihui Power's stock price was 15.08 CNY per share, with a market capitalization of 3.93 billion CNY [1]. - The stock has risen by 12.62% over the last five trading days, 23.71% over the last 20 days, and 50.05% over the last 60 days [2]. - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent net buy of 4.52 million CNY on August 26, 2023 [2]. Group 2: Financial Performance - For the first half of 2025, Zhihui Power reported a revenue of 767 million CNY, reflecting a year-on-year growth of 7.62%, while the net profit attributable to shareholders was -40.98 million CNY, showing a year-on-year increase of 31.55% [3]. - The company has distributed a total of 48.64 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [4]. Group 3: Shareholder Information - As of September 19, 2023, the number of shareholders for Zhihui Power was 26,100, a decrease of 11.48% from the previous period, with an average of 7,416 shares held per shareholder, an increase of 12.97% [3]. - The top ten circulating shareholders include major institutional investors, with notable increases in holdings, such as Dazheng Zhongzheng 360 Internet + Index A [4].

Company Overview - Zhihua Technology has seen a stock price increase of 54.52% year-to-date, with a recent 4.74% rise over the last five trading days and a 42.45% increase over the past 60 days [2] - The company specializes in the research, production, and sales of functional components for consumer electronics, with revenue composition as follows: structural electronic devices 39.37%, functional electronic devices 39.30%, optical components 20.43%, and others 0.91% [2] - Zhihua Technology is classified under the electronic industry, specifically in consumer electronics and components assembly, and is associated with concepts such as foldable screens, smart wearables, and smartphones [2] Financial Performance - For the first half of 2025, Zhihua Technology reported revenue of 767 million yuan, reflecting a year-on-year growth of 7.62%, while the net profit attributable to shareholders was -40.98 million yuan, showing a 31.55% increase [2] - The company has distributed a total of 48.64 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3] Shareholder Information - As of September 10, 2025, the number of shareholders for Zhihua Technology was 29,500, a decrease of 7.15% from the previous period, with an average of 6,565 circulating shares per shareholder, an increase of 7.70% [2] - The top ten circulating shareholders include major institutional investors, with the eighth largest being the Dazheng Zhongzheng 360 Internet + Index A, holding 1.58 million shares, an increase of 3,200 shares from the previous period [3] Market Activity - On September 17, Zhihua Technology's stock rose by 2.04%, reaching 13.49 yuan per share, with a trading volume of 74.59 million yuan and a turnover rate of 2.89%, resulting in a total market capitalization of 3.516 billion yuan [1] - The net inflow of main funds was 109,700 yuan, with significant buying and selling activities recorded, including large orders amounting to 18.52 million yuan in purchases and 15.55 million yuan in sales [1]

Financial Overview - The company's total revenue for 2024 is 1.542 billion yuan, an increase of 11.21% year-on-year. However, the net profit attributable to shareholders remains negative at -155 million yuan, although it has improved by 39.02% year-on-year. The non-recurring net profit is also negative at -145 million yuan, with a year-on-year increase of 44.62%, indicating some improvement in profitability [1][2]. Profitability Analysis - The gross margin is 8.28%, reflecting a significant year-on-year increase of 150.17%, indicating effective cost control. However, the net margin is -9.98%, despite a year-on-year improvement of 45.79, suggesting that overall profitability still needs enhancement [2]. Main Business Revenue Composition - Functional electronic devices are the largest revenue source, contributing 696 million yuan, accounting for 45.16% of total revenue, with a gross margin of 19.64%. Structural electronic devices and optical components have gross margins of -0.83% and -1.58%, respectively, indicating significant pressure on profitability in these segments [3]. Cash Flow and Financial Position - The operating cash flow per share is 0.55 yuan, a substantial year-on-year increase of 413.98%, showing significant improvement in cash flow from operations. The net cash flow from operating activities has increased by 408.07%, primarily due to increased cash received from sales and reduced cash payments for goods and services [4]. Asset and Liability Situation - The company's cash and cash equivalents amount to 484 million yuan, a year-on-year increase of 82.90%, mainly due to the redemption of structured deposits. Interest-bearing liabilities are 322 million yuan, a decrease of 29.13% year-on-year, indicating progress in debt management. However, the ratio of cash to current liabilities is only 98.37%, and the average operating cash flow over the past three years to current liabilities is only 15.05%, indicating some short-term solvency risks [5]. Cost and Expense Control - The ratio of the company's three expenses (selling, administrative, and financial expenses) to revenue is 9.64%, a year-on-year decrease of 23.97%, indicating effective cost control. Specifically, selling expenses, administrative expenses, and financial expenses decreased by 4.73%, 14.07%, and 84.5%, respectively, due to reductions in salaries, office expenses, and interest payments, along with increased foreign exchange gains [6]. R&D Investment - R&D expenses have decreased by 16.37% year-on-year, primarily due to reductions in salaries, material consumption, and depreciation. Despite the decrease in R&D investment, the company needs to maintain focus on R&D to respond to the rapidly changing consumer electronics industry [7]. Industry Outlook and Company Strategy - The consumer electronics industry is showing signs of recovery in 2024, particularly in the smartphone and smart wearable device sectors. The company plans to enhance its core competitiveness through technological innovation, global capacity layout, and high-quality customer resources. Future focus will be on developing thermal management devices and innovative smart wearable products, as well as conducting technological research in composite materials to meet the demands of emerging application scenarios [8].