截至发稿，李玉良累计任职时间10年210天，现任基金资产总规模3940.75万元，任职期间最佳基金回报 202.26%， 任职期间最差基金回报-86.55%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 诺安景鑫混合（002145）成立日期2015年12月8日，最新规模3940.81万。今年以来收益53.21%，同类排 名854/8244；近一年收益84.4%，同类排名713/8080；成立以来收益163.12%。 诺安景鑫混合（002145）基金经理为李玉良。 9月29日，波长光电涨5.11%，截至发稿，报121.68元/股，成交8.33亿元，换手率15.10%，总市值140.81 亿元。 资料显示，南京波长光电科技股份有限公司位于江苏省南京市江宁区湖熟工业集中区波光路18号，成立 日期2008年12月24日，上市日期2023年8月23日，公司主营业务涉及国内精密光学元件、组件的主要供 应商，长期专注于服务工业激光加工和红外热成像领域，提供各类光 ...

Group 1 - The core viewpoint of the article highlights that Fuzhong Technology is one of the few suppliers in the industry capable of providing a comprehensive service of "crystal + optical components + laser devices" [1] - The company's products are widely used in various industrial fields, including lasers, optical communications, semiconductors, AR/VR, life sciences, autonomous driving, environmental monitoring equipment, and testing and analysis instruments [1] - Fuzhong Technology aims to target the high-end laser device market to address the issue of dependence on imported core components, successfully breaking the monopoly of foreign laser device suppliers [1] Group 2 - The company has developed self-researched acousto-optic devices and magneto-optic devices, which have gained recognition from customers and research users of ultraviolet lasers, fiber lasers, and ultrafast lasers [1] - The orderly advancement of the Zhiqi Photon project in research and market development is expected to continuously contribute to revenue and profit [1] - The report initiates coverage with a "buy" rating for the company [1]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a revenue of 440 million yuan for the first half of 2025, representing a year-on-year growth of 3.0%, and a net profit attributable to shareholders of 110 million yuan, up 8.8% year-on-year [4] - The gross profit margin for the company was 40.3%, an increase of 1.4 percentage points year-on-year [4] - The optical components business achieved a revenue of 270 million yuan in the first half of 2025, with a year-on-year growth of 4.4% [4] - The high-end microscope business generated a revenue of 170 million yuan in the first half of 2025, reflecting a year-on-year increase of 0.9% [4] Financial Performance Summary - For the second quarter of 2025, the company achieved approximately 220 million yuan in revenue, a year-on-year increase of 4.2% and a quarter-on-quarter increase of 0.7% [4] - The net profit for the second quarter was 50 million yuan, down 2.5% year-on-year and down 5.4% quarter-on-quarter [4] - The company expects revenues for 2025-2027 to be 1.11 billion, 1.42 billion, and 1.81 billion yuan respectively, with net profits of 290 million, 360 million, and 450 million yuan respectively [5] Market Position and Growth Drivers - The company is experiencing growth in its optical components business, particularly in the automotive laser radar sector, with nearly one million units shipped in the first half of 2025 [4] - The high-end microscope segment is benefiting from a strategic focus on high-end products, with sales of high-end microscopes accounting for over 40% of total microscope sales [4] - The company has signed agreements with several overseas agents at the UK MMC exhibition, enhancing its brand influence [4]

Core Viewpoint - Wavelength Optoelectronics has seen a 5.05% increase in stock price, reaching 134.15 CNY per share, with a trading volume of 1.034 billion CNY and a market capitalization of 15.524 billion CNY [1] Company Overview - Nanjing Wavelength Optoelectronics Technology Co., Ltd. is located in Jiangning District, Nanjing, Jiangsu Province, established on December 24, 2008, and listed on August 23, 2023 [1] - The company specializes in precision optical components and is a major supplier in the industrial laser processing and infrared thermal imaging sectors, providing various optical equipment, design, and testing solutions [1] - Revenue composition includes optical components (46.03%), optical elements (40.16%), and optical system solutions and testing design tools (13.81%) [1] Shareholder Information - Yongying Fund's Yongying Semiconductor Industry Smart Selection Mixed Fund A (015967) entered the top ten circulating shareholders of Wavelength Optoelectronics in Q2, holding 2 million shares, which is 4.32% of the circulating shares [2] - The fund has achieved a year-to-date return of 78.65%, ranking 239 out of 8173 in its category, and a one-year return of 158.92%, ranking 53 out of 8003 [2] Fund Manager Performance - The fund manager of Yongying Semiconductor Industry Smart Selection Mixed Fund A is Zhang Haixiao, who has been in the position for 2 years and 120 days [3] - The total asset size of the fund is 2.436 billion CNY, with the best return during the tenure being 71.32% and the worst return being -19.48% [3] Fund Holdings - Yongying Semiconductor Industry Smart Selection Mixed Fund A holds 2 million shares of Wavelength Optoelectronics, accounting for 7.1% of the fund's net value, making it the ninth largest holding [4]

Core Viewpoint - Wavelength Optoelectronics has seen a 5.13% increase in stock price, reaching 136.25 CNY per share, with a trading volume of 2.046 billion CNY and a turnover rate of 35.68%, resulting in a total market capitalization of 15.767 billion CNY [1] Group 1: Company Overview - Nanjing Wavelength Optoelectronics Technology Co., Ltd. was established on December 24, 2008, and went public on August 23, 2023 [1] - The company specializes in precision optical components and is a major supplier in the industrial laser processing and infrared thermal imaging sectors, providing various optical equipment, design, and testing solutions [1] - The revenue composition of the company includes optical components (46.03%), optical elements (40.16%), and optical system solutions and testing design tools (13.81%) [1] Group 2: Shareholder Information - The top circulating shareholder of Wavelength Optoelectronics includes a fund from Debon Fund, specifically the Debon Semiconductor Industry Mixed Initiation A (014319), which entered the top ten circulating shareholders in Q2 with 1.2 million shares, accounting for 2.59% of circulating shares [2] - The Debon Semiconductor Industry Mixed Initiation A fund has a current size of 358 million CNY and has achieved a year-to-date return of 75.47%, ranking 261 out of 8173 in its category [2] - The fund manager, Lei Tao, has a tenure of 3 years and 272 days, with the best fund return during this period being 266.47% [2] Group 3: Fund Holdings - The Debon Semiconductor Industry Mixed Initiation A fund holds 1.2 million shares of Wavelength Optoelectronics, representing 3.91% of the fund's net value, making it the tenth largest holding [3] - The estimated floating profit from this holding is approximately 7.98 million CNY [3]

融券方面，波长光电9月23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200.00股，融券余额2.59万元，超过近一年80%分位水平，处于高位。 9月23日，波长光电涨20.00%，成交额26.56亿元。两融数据显示，当日波长光电获融资买入额2.70亿 元，融资偿还2.17亿元，融资净买入5276.58万元。截至9月23日，波长光电融资融券余额合计4.08亿 元。 融资方面，波长光电当日融资买入2.70亿元。当前融资余额4.08亿元，占流通市值的6.71%，融资余额 超过近一年90%分位水平，处于高位。 截至6月30日，波长光电股东户数2.70万，较上期增加36.65%；人均流通股1712股，较上期减少 26.82%。2025年1月-6月，波长光电实现营业收入2.23亿元，同比增长17.79%；归母净利润1423.47万 元，同比减少50.57%。 分红方面，波长光电A股上市后累计派现6017.34万元。 资料显示，南京波长光电科技股份有限公司位于江苏省南京市江宁区湖熟工业集中区波光路18号，成立 日期2008年12月24日，上市日期2023年8月23日，公司主营 ...

Company Overview - Wavelength Optoelectronics, established on December 24, 2008, is located in Jiangning District, Nanjing, Jiangsu Province. The company specializes in precision optical components and systems, focusing on industrial laser processing and infrared thermal imaging. It provides comprehensive solutions for optical equipment, design, and testing [1]. Financial Performance - As of September 23, Wavelength Optoelectronics' stock price increased by 5.27%, reaching 113.69 CNY per share, with a trading volume of 971 million CNY and a turnover rate of 19.00%. The total market capitalization stands at 13.156 billion CNY [1]. Revenue Composition - The company's revenue is composed of optical components (46.03%), optical elements (40.16%), and optical system solutions and testing design tools (13.81%) [1]. Fund Holdings - According to data, one fund from Nuoan Fund holds a significant position in Wavelength Optoelectronics. The Nuoan Jingxin Mixed Fund (002145) held 29,000 shares in the second quarter, accounting for 5.89% of the fund's net value, making it the fourth-largest holding. The estimated floating profit for today is approximately 165,000 CNY [2]. Fund Manager Performance - The fund manager of Nuoan Jingxin Mixed Fund, Li Yuliang, has been in position for 10 years and 204 days. The fund's total asset size is approximately 39.4075 million CNY. During his tenure, the best fund return was 197.09%, while the worst return was -86.55% [3].

Group 1 - The core viewpoint of the news is the performance and market position of Wavelength Optoelectronics, which saw a 5.27% increase in stock price, reaching 113.69 yuan per share, with a trading volume of 9.71 billion yuan and a market capitalization of 131.56 billion yuan [1] - Wavelength Optoelectronics, established on December 24, 2008, and listed on August 23, 2023, specializes in precision optical components and systems, primarily serving the industrial laser processing and infrared thermal imaging sectors. The revenue composition includes optical components (46.03%), optical elements (40.16%), and optical system solutions and detection design tools (13.81%) [1] Group 2 - From the perspective of major shareholders, the Debon Semiconductor Industry Mixed Fund A (014319) entered the top ten circulating shareholders of Wavelength Optoelectronics in the second quarter, holding 1.2 million shares, which accounts for 2.59% of the circulating shares. The estimated floating profit today is approximately 6.828 million yuan [2] - The Debon Semiconductor Industry Mixed Fund A, managed by Lei Tao, has a total asset scale of 3.58 billion yuan and has achieved a return of 74.18% this year, ranking 282 out of 8172 in its category. Over the past year, the return is 155.19%, ranking 100 out of 7995 [2][3] Group 3 - The Debon Semiconductor Industry Mixed Fund A holds 1.2 million shares of Wavelength Optoelectronics, representing 3.91% of the fund's net value, making it the tenth largest holding. The estimated floating profit today is approximately 6.828 million yuan [4]

Core Viewpoint - Wavelength Optoelectronics has experienced a significant stock price increase of 47.49% over the past three days, closing at 113.90 CNY per share with a market capitalization of 13.18 billion CNY [1] Company Overview - Nanjing Wavelength Optoelectronics Technology Co., Ltd. was established on December 24, 2008, and went public on August 23, 2023 [1] - The company specializes in precision optical components and systems, primarily serving the industrial laser processing and infrared thermal imaging sectors [1] - Revenue composition includes optical components (46.03%), optical elements (40.16%), and optical system solutions and detection design tools (13.81%) [1] Shareholder Insights - Yongying Fund's Yongying Semiconductor Industry Smart Mixed Fund A (015967) has entered the top ten circulating shareholders of Wavelength Optoelectronics, holding 2 million shares, which is 4.32% of the circulating shares [2] - The fund has generated a floating profit of approximately 11.2 million CNY today and 69.74 million CNY during the three-day price increase [2] Fund Performance - Yongying Semiconductor Industry Smart Mixed Fund A (015967) has a total asset size of 1.96 billion CNY and has achieved a year-to-date return of 66.99%, ranking 344 out of 8244 in its category [2] - The fund manager, Zhang Haixiao, has a tenure of 2 years and 117 days, with the best fund return during this period being 68.69% [2]

Company Overview - Wavelength Optoelectronics, established on December 24, 2008, is located in Jiangning District, Nanjing, Jiangsu Province, and was listed on August 23, 2023. The company specializes in precision optical components and is a major supplier in the industrial laser processing and infrared thermal imaging sectors, providing comprehensive solutions for optical equipment, design, and testing [1] Business Composition - The revenue composition of Wavelength Optoelectronics is as follows: optical components account for 46.03%, optical elements for 40.16%, and optical system solutions and testing design tools for 13.81% [1] Stock Performance - On September 22, Wavelength Optoelectronics' stock fell by 6.92%, closing at 100.81 CNY per share, with a trading volume of 355 million CNY and a turnover rate of 7.45%. The total market capitalization is 11.666 billion CNY [1] Fund Holdings - According to data, one fund under Bank of China, the Zhongyin Digital Economy Mixed A (019426), holds a significant position in Wavelength Optoelectronics, with 3,100 shares, representing 3.15% of the fund's net value, making it the eighth-largest holding. The estimated floating loss today is approximately 23,200 CNY [2] Fund Performance - The Zhongyin Digital Economy Mixed A fund, managed by Yang Lei, was established on April 25, 2024, with a current asset size of 5.2288 million CNY. Year-to-date, the fund has returned 49%, ranking 998 out of 8,244 in its category, and has achieved a one-year return of 62.58%, ranking 2,078 out of 8,066 [2]