Core Viewpoint - Company plans to repurchase shares worth between 200 million to 400 million yuan to implement an employee stock ownership plan, reflecting confidence in future growth and recognition of its own value [1][2] Share Repurchase Details - The repurchase will be conducted through centralized bidding, with a maximum price set at 124.15 yuan per share, not exceeding 150% of the average trading price over the previous 30 trading days [2] - Estimated repurchase volume ranges from approximately 161,095 to 322,191 shares, accounting for 0.35% to 0.69% of the total share capital [2] - The repurchase period is set from November 21, 2025, to November 20, 2026 [2] Financial Performance - Company reported a cumulative net profit of 1.446 billion yuan over the last three years, with a net profit of 677 million yuan in the first three quarters of 2025, representing a year-on-year growth of 50.99% [1][5] - In 2023, the company achieved a revenue of 4.408 billion yuan, a year-on-year increase of 30.26%, and a net profit of 165 million yuan [4] - The company experienced a significant loss in 2022, with a net profit of -748 million yuan due to declining market demand and increased competition [4] R&D Investment - R&D expenses have been increasing, reaching 838 million yuan in the first three quarters of 2025, a year-on-year growth of 16.42% [6] - The company employs around 1,200 staff, with over 80% in R&D roles and more than 50% holding master's degrees or higher [6] Historical Context - Since its listing in 2016, the company has completed three share repurchases totaling 1.1 billion yuan and has distributed 1.683 billion yuan in dividends, with a dividend payout ratio of 20.99% [3]

Core Viewpoint - The newly appointed president of Huida Technology, Liu Yuping, is under investigation by the China Securities Regulatory Commission (CSRC) for insider trading, which raises concerns about corporate governance and potential impacts on the company's operations [2][3]. Company Overview - Huida Technology (603160.SH) has recently faced leadership changes, with Liu Yuping appointed as president on March 11, 2025, and only serving for five months before the investigation [2][4][5]. - Liu Yuping has a long history with the company, having held various positions since 2005, indicating a deep understanding of the company's operations [5][6]. Financial Performance - For the first half of 2025, Huida Technology reported a revenue of 2.251 billion yuan, a slight decrease of 0.2% year-on-year, while net profit increased by 35.74% to 431 million yuan [2][13]. - The company has experienced a decline in revenue for one and a half consecutive years, with 2022 and 2023 revenues reported at 3.384 billion yuan and 4.408 billion yuan, respectively, showing significant fluctuations [12][13]. - Despite the revenue decline, the company has set ambitious growth targets, aiming for a revenue increase of at least 20% by 2025, with a target of 4.061 billion yuan [2][15]. Stock and Investment Activity - Liu Yuping plans to increase his stake in the company, with a proposed investment of between 10 million to 20 million yuan, reflecting confidence in the company's future [9][10]. - The company has also initiated a stock option incentive plan, with performance targets set for 2023 to 2025, indicating a focus on aligning management interests with shareholder value [14][15]. Strategic Adjustments - Huida Technology has made strategic adjustments, including the sale of its subsidiaries to optimize resource allocation and enhance core competitiveness, which generated an investment income of 78 million yuan [14]. - The company attributes its recent revenue decline to the inventory stocking pace of downstream customers, suggesting external market influences on performance [14].

Core Viewpoint - The investigation against Liu Yuping is personal and unrelated to the daily operations of the company, ensuring no impact on the production and business activities of the company and its subsidiaries [1]. Group 1: Company Management Changes - Liu Yuping has been appointed as the president of the company for less than six months, following the resignation of Hu Yuhua due to personal reasons [1]. - Liu Yuping has a long history with the company, having joined in March 2005 and held various positions including vice president and supply chain head before becoming president [3]. Group 2: Company Performance and Stock Activity - As of July 18, 2025, the number of shareholders in the company is 78,689 [5]. - Liu Yuping increased his stake in the company by purchasing 30,000 shares at an average price of 72.0 yuan per share, totaling 2.16 million yuan [5]. - The company's stock price has risen by 32.9% from a low of 62.21 yuan per share on April 9 to 82.7 yuan per share as of August 25, 2025 [5]. - In the first half of the year, the company reported revenue of 2.251 billion yuan, a slight decrease of 0.20% year-on-year, while net profit attributable to shareholders increased by 35.74% to 431 million yuan [5].