Core Viewpoint - The company has established a comprehensive layout in the microwave business, covering the entire supply chain from core chips to components, subsystems, and complete systems [1] Group 1: Business Development - The component segment has achieved large-scale mass production [1] - Products in the chip, subsystem, and complete system segments have achieved small-batch delivery [1] Group 2: Application Areas - The company's products can be applied in various fields including equipment construction, satellite communication, low-altitude economy, and smart vehicles [1]

Core Viewpoint - Jingji Group (03302) has experienced significant stock price volatility, with a peak increase of over 200% before stabilizing at a 144.74% rise, trading at HKD 0.465 with a transaction volume of HKD 62.927 million [1] Company Overview - Jingji Group, formerly known as Guangkong Jingji, was established in 1988 in Singapore and specializes in contract manufacturing for the semiconductor industry, producing equipment, machinery, subsystems, precision tools, and components [1] - The main shareholder of Jingji Group is China Everbright Holdings Limited [1] Recent Developments - In November 2019, the company announced a share transfer agreement where its wholly-owned subsidiary, Jingji Electronics, purchased 588,100 shares of Shanghai Micro Electronics, representing approximately 0.4% of the total issued shares, for RMB 16 million, to be paid in cash upon completion [1]

Core Viewpoint - Jingji Group (03302) has experienced significant stock price volatility, with a peak increase of over 200% before stabilizing at a 144.74% rise, trading at HKD 0.465 with a transaction volume of HKD 62.927 million [1] Company Overview - Jingji Group, formerly known as Guangkong Jingji, was established in Singapore in 1988 and specializes in contract manufacturing for the semiconductor industry, producing equipment, machinery, subsystems, precision tools, and components [1] - The main shareholder of Jingji Group is China Everbright Holdings Limited [1] Recent Transactions - In November 2019, Jingji Group announced a share transfer agreement where its wholly-owned subsidiary, Jingji Electronics, purchased 588,100 shares of Shanghai Micro Electronics, representing approximately 0.4% of the total issued shares, from Nantong Semiconductor Fund for RMB 16 million, to be paid in cash upon completion [1]

Core Viewpoint - The company, Dekoli (688205.SH), reported disappointing performance in the first half of 2025, with revenue growth but a significant decline in net profit, leading to concerns about its future prospects in the optical communication sector [1][2]. Financial Performance - In the first half of 2025, the company achieved revenue of 433 million yuan, a year-on-year increase of 5.93%, while the net profit attributable to shareholders was 28.09 million yuan, a year-on-year decrease of 48.2% [2][3]. - The company's operating cash flow was negative at -19.43 million yuan, a decline of 266.9% year-on-year [1]. Market Dynamics - The traditional telecom transmission market is experiencing structural slowdown, prompting the company to adjust product pricing, which has significantly narrowed profit margins in its telecom transmission business [2]. - The data communication market, particularly in DCI (Data Center Interconnect) and data center fields, is witnessing rapid growth driven by the explosion of AI computing power demand [2]. Product Development and Challenges - The company is in the early stages of its DCI business, with high-end optical modules like the 400G coherent module in small batch trial production and 1.6T ultra-high-speed modules under development [3]. - The company faces significant operational pressure due to ongoing investments in its headquarters and production base in Thailand, which have contributed to the notable decline in net profit [3]. Project Delays - The company announced delays in two core fundraising projects, which involve a total investment of 780 million yuan, with current fund usage rates at 29.01% and 35.79% respectively [3][4]. - The delay in the "High-speed Optical Module Product Line Expansion and Upgrade Project" is attributed to the rapid technological iteration in the optical communication industry, necessitating an update to production plans to align with market demand for 800G/1.6T high-speed optical modules [4]. - The delay in the "Optical Transmission Subsystem Platform R&D Project" is due to the complex construction requirements of the new R&D center, which exceeds standard office construction [4].