Core Points - Longxin Zhongke's stock price decreased by 2.00% on November 12, trading at 130.33 CNY per share with a market capitalization of 52.262 billion CNY [1] - The company experienced a net outflow of 23.383 million CNY in principal funds, with significant selling pressure observed [1] - Year-to-date, the stock has declined by 1.47%, with a notable drop of 11.04% over the past 20 trading days [1] Company Overview - Longxin Zhongke Technology Co., Ltd. was established on March 5, 2008, and went public on June 24, 2022 [1] - The company specializes in the research, sales, and services of processors and supporting chips, with revenue composition as follows: 47.09% from information technology chips, 35.82% from industrial control chips, and 17.09% from solutions [1] - The company is classified under the electronic-semiconductor-digital chip design industry and is associated with concepts such as DeepSeek, Xinchuang, robotics, operating systems, and semiconductors [1] Financial Performance - As of September 30, 2025, Longxin Zhongke reported a revenue of 351 million CNY, reflecting a year-on-year growth of 13.94%, while the net profit attributable to shareholders was -394 million CNY, a decrease of 14.89% year-on-year [2] - The number of shareholders increased by 25.97% to 28,200, while the average circulating shares per person decreased by 20.62% [2] - Notably, Hong Kong Central Clearing Limited entered the top ten circulating shareholders with a holding of 6.2578 million shares [2]

Summary of Longxin Zhongke Conference Call Company Overview - **Company**: Longxin Zhongke - **Industry**: Semiconductor and CPU manufacturing Key Financial Metrics - **Revenue Growth**: Revenue for the first three quarters of 2025 reached 350 million yuan, a year-on-year increase of 13.4% [3] - **Industrial Control Chip Revenue**: 125 million yuan, up 68.83% year-on-year [3] - **Information Technology Chip Revenue**: 165 million yuan, a 15.7% increase [3] - **Solution Revenue**: 60 million yuan, down approximately 33% [3] - **Gross Margin**: - Industrial control chips: 64.81%, up 50% year-on-year [3] - Information technology chips: 23.83%, up 0.81 percentage points [3] - Solutions: 46%, an increase of 22 percentage points [3] - **Net Profit**: Loss of 390 million yuan, a decrease of 510 million yuan year-on-year [3] - **Operating Cash Flow**: Decreased by 447 million yuan, down 180 million yuan year-on-year [3] Strategic Initiatives - **Platform and Quality Focus**: The company adheres to a "platform-based, quality-first" strategy while promoting both policy-driven and open markets [2][5] - **Product Development**: Continuous improvement of the Longxin architecture software ecosystem and development of next-generation products [2][5] - **Market Expansion**: Plans to consolidate the desktop CPU market and expand into business system applications, particularly in server CPU applications [2][7] Product and Market Performance - **Industrial Control Sector**: Sales in this sector are expected to double to 180 million yuan in 2025, with a strong performance in key industries such as high-speed rail and nuclear power [4][14] - **New Product Launches**: The new "Qiaopian" product is anticipated to enhance profitability in the information technology sector [2][8] - **Competitive Advantage**: The "Three Swordsmen" and "Three Elite Soldiers" product lines are gaining traction in government tenders due to their cost-performance advantages [2][6] Future Outlook - **Growth Cycle**: The period from 2025 to 2027 is seen as a critical growth phase for the company [7] - **Sales Strategy Adjustment**: Aiming to enhance sales strategies to improve profitability and sustainable development [7][8] - **Collaboration with Major Enterprises**: Strengthening partnerships with leading companies to ensure stable growth [8] Research and Development - **R&D Investment**: 375 million yuan invested in R&D in the first three quarters of 2025, with a focus on developing 10 key terminal and server products over the next three years [4][15] - **New Chip Development**: Ongoing development of next-generation chips, including low-cost and high-performance options [18][21] Software Ecosystem Development - **Ecosystem Building**: Focus on overcoming software ecosystem barriers and enhancing compatibility with various applications [11][22] - **Open Source Community Engagement**: Active maintenance and optimization of open-source communities related to Longxin architecture [22][24] Unique Advantages - **Compatibility and Performance**: Longxin architecture has surpassed x86 and ARM platforms in peripheral driver and browser compatibility, facilitating easier migration of existing applications [24] Conclusion Longxin Zhongke is positioned for growth with a strong focus on product development, market expansion, and strategic partnerships, despite facing challenges in profitability and cash flow. The company's commitment to R&D and software ecosystem development is expected to drive future success in the semiconductor industry.

Group 1 - The core viewpoint of the news is that Longxin Technology Co., Ltd. has shown fluctuations in stock performance, with a recent increase in share price and notable changes in shareholder structure and financial performance [1][2]. Group 2 - As of October 30, Longxin's stock price increased by 2.02% to 143.33 CNY per share, with a trading volume of 484 million CNY and a market capitalization of 57.475 billion CNY [1]. - Year-to-date, Longxin's stock price has risen by 8.35%, with a 5-day increase of 5.23%, a 20-day decrease of 11.75%, and a 60-day increase of 9.37% [1]. - The company reported a revenue of 351 million CNY for the first nine months of 2025, representing a year-on-year growth of 13.94%, while the net profit attributable to shareholders was -39.4 million CNY, a decrease of 14.89% year-on-year [2]. - The main business revenue composition includes 47.09% from information technology chips, 35.82% from industrial control chips, and 17.09% from solutions [1]. - As of September 30, the number of Longxin's shareholders increased by 25.97% to 28,200, while the average circulating shares per person decreased by 20.62% to 14,203 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as a new shareholder with 6.2578 million shares, while Huaxia SSE STAR 50 ETF has exited the top ten list [2].

Core Viewpoint - Longxin Zhongke's stock price has shown volatility, with a recent decline of 2.01% and a year-to-date increase of 8.53%, indicating mixed investor sentiment and market performance [1][2]. Group 1: Stock Performance - As of October 16, Longxin Zhongke's stock price was 143.56 CNY per share, with a market capitalization of 57.568 billion CNY [1]. - The stock has experienced a 9.31% decline over the past five trading days, but a 15.86% increase over the last 20 days [1]. - Year-to-date, the stock has increased by 8.53%, while it has risen by 8.77% over the past 60 days [1]. Group 2: Financial Performance - For the first half of 2025, Longxin Zhongke reported revenue of 244 million CNY, reflecting a year-on-year growth of 10.90% [2]. - The company incurred a net loss of 294 million CNY, which is a 23.66% decrease compared to the previous period [2]. Group 3: Shareholder and Market Activity - As of June 30, 2025, the number of shareholders increased by 22.32% to 22,400, with an average of 17,892 circulating shares per shareholder, up by 17.23% [2]. - Major institutional holdings include Huaxia SSE Sci-Tech Innovation Board 50 ETF, which holds 8.9291 million shares, a decrease of 109,900 shares from the previous period [2].

Core Insights - Longxin Zhongke's stock price decreased by 2.02% on October 14, reaching 148.55 CNY per share, with a trading volume of 538 million CNY and a turnover rate of 0.89% [1] - The company has seen a year-to-date stock price increase of 12.30%, but a decline of 5.97% over the last five trading days [1] Financial Performance - For the first half of 2025, Longxin Zhongke reported revenue of 244 million CNY, a year-on-year increase of 10.90%, while the net profit attributable to shareholders was -294 million CNY, a decrease of 23.66% year-on-year [2] - As of June 30, 2025, the number of shareholders increased by 22.32% to 22,400, with an average of 17,892 circulating shares per person, up 17.23% [2] Business Overview - Longxin Zhongke, established on March 5, 2008, specializes in the research, sales, and services of processors and supporting chips, with main business revenue sources being information technology chips (47.09%), industrial control chips (35.82%), and solutions (17.09%) [1] - The company is categorized under the electronic-semiconductor-digital chip design industry and is involved in several concept sectors, including chip concepts, information innovation, automotive chips, semiconductors, and MCU concepts [1]

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Longxin Zhongke, indicating a significant increase in stock price and trading volume on October 13, with a 4.33% rise and a transaction amount of 1.459 billion yuan [1] - As of October 13, Longxin Zhongke's financing balance reached 1.098 billion yuan, accounting for 1.80% of its market capitalization, which is above the 90th percentile of the past year, indicating a high level of financing activity [1] - The company reported a net financing outflow of 11.65 million yuan on the same day, with a total financing buy amount of 139 million yuan and a repayment of 151 million yuan [1] Group 2 - As of June 30, Longxin Zhongke had 22,400 shareholders, an increase of 22.32% from the previous period, with an average of 17,892 circulating shares per person, up 17.23% [2] - For the first half of 2025, Longxin Zhongke achieved operating revenue of 244 million yuan, a year-on-year increase of 10.90%, while the net profit attributable to shareholders was -294 million yuan, a decrease of 23.66% year-on-year [2] - Among the top ten circulating shareholders as of June 30, 2025, Huaxia SSE Sci-Tech Innovation Board 50 ETF held 8.9291 million shares, a decrease of 109,900 shares from the previous period, while E Fund SSE Sci-Tech Innovation Board 50 ETF exited the top ten list [2]

Group 1 - Longxin Zhongke's stock price increased by 5.27% to 152.64 CNY per share, with a trading volume of 340 million CNY and a turnover rate of 0.56%, resulting in a total market capitalization of 61.209 billion CNY [1] - Longxin Zhongke, established on March 5, 2008, specializes in the research, sales, and services of processors and supporting chips, with revenue composition: 47.09% from information technology chips, 35.82% from industrial control chips, and 17.09% from solutions [1] Group 2 - Huaxia Fund's ETF (588000) reduced its holdings by 109,900 shares in Longxin Zhongke, now holding 8.9291 million shares, which accounts for 2.23% of the circulating shares, with an estimated floating profit of approximately 68.2182 million CNY [2] - The Huaxia ETF was established on September 28, 2020, with a current scale of 83.343 billion CNY, achieving a year-to-date return of 39.02% and a one-year return of 113.99% [2] Group 3 - The fund manager Rong Ying has a tenure of 9 years and 321 days, managing assets totaling 138.288 billion CNY, with the best fund return of 129.49% during his tenure [3] - Zhao Zongting, another fund manager, has a tenure of 8 years and 158 days, managing assets of 389.148 billion CNY, with the best fund return of 115.72% during his tenure [3]

Core Insights - Longxin Zhongke's stock price dropped by 5.01% to 142.10 CNY per share, with a trading volume of 1.322 billion CNY and a turnover rate of 2.29%, resulting in a total market capitalization of 56.982 billion CNY [1] Company Overview - Longxin Zhongke Technology Co., Ltd. is located in Haidian District, Beijing, and was established on March 5, 2008. The company went public on June 24, 2022. Its main business involves the research, development, sales, and services of processors and supporting chips [1] - The revenue composition of Longxin Zhongke is as follows: 47.09% from information technology chips, 35.82% from industrial control chips, and 17.09% from solutions [1] Shareholder Analysis - Among the top ten circulating shareholders of Longxin Zhongke, a fund under Huaxia Fund holds a significant position. The Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) reduced its holdings by 109,900 shares in Q2, now holding 8.9291 million shares, which accounts for 2.23% of the circulating shares. The estimated floating loss today is approximately 66.8788 million CNY [2] - The Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) was established on September 28, 2020, with a current scale of 83.343 billion CNY. Year-to-date returns are 36.78%, ranking 1123 out of 4222 in its category; over the past year, returns are 108.04%, ranking 292 out of 3804; since inception, it has a loss of 0.93% [2] Fund Manager Performance - The fund manager of Huaxia SSE Sci-Tech Innovation Board 50 ETF, Rong Ying, has a tenure of 9 years and 319 days, with total fund assets of 138.288 billion CNY. The best fund return during his tenure is 129.49%, while the worst is -7.58% [3] - Co-manager Zhao Zongting has a tenure of 8 years and 156 days, managing total fund assets of 389.148 billion CNY. His best fund return is 114.28%, and the worst is -32.63% [3]

Core Viewpoint - Longxin Zhongke's stock price dropped by 5.08% to 127.00 CNY per share, with a total market capitalization of 50.93 billion CNY as of September 4 [1] Company Overview - Longxin Zhongke Technology Co., Ltd. was established on March 5, 2008, and went public on June 24, 2022. The company is located in the Zhongguancun Environmental Technology Demonstration Park in Haidian District, Beijing [1] - The main business involves the research, sales, and services of processors and supporting chips, with revenue composition as follows: 47.09% from information technology chips, 35.82% from industrial control chips, and 17.09% from solutions [1] Fund Holdings - Longxin Zhongke is a top ten holding in the Guolian An Fund's ETF, specifically the Guolian An Science and Technology Chip Design ETF (588780), which held 59,200 shares, accounting for 3.23% of the fund's net value [2] - The ETF has a current scale of 244 million CNY and has achieved a year-to-date return of 53.36%, ranking 223 out of 4222 in its category [2] Fund Manager Performance - The fund manager Huang Xin has a tenure of 15 years and 146 days, with a total asset scale of 42.05 billion CNY and a best fund return of 166.78% during his tenure [3] - Co-manager Zhang Zhenyuan has a tenure of 11 years and 277 days, managing assets of 40.82 billion CNY, with a best fund return of 272.86% during his tenure [3]

Company Overview - Longxin Zhongke Technology Co., Ltd. is located in Haidian District, Beijing, and was established on March 5, 2008. The company went public on June 24, 2022. Its main business involves the research, sales, and services of processors and supporting chips [1]. Financial Performance - As of September 4, Longxin Zhongke's stock price decreased by 5.08%, reaching 127.00 CNY per share, with a trading volume of 588 million CNY and a turnover rate of 1.12%. The total market capitalization is 50.93 billion CNY [1]. - The company's main business revenue composition is as follows: information technology chips account for 47.09%, industrial control chips 35.82%, and solutions 17.09% [1]. Shareholder Information - Among the top ten circulating shareholders of Longxin Zhongke, a fund under Huaxia Fund holds a significant position. The Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) reduced its holdings by 109,900 shares in the second quarter, now holding 8.9291 million shares, which represents 2.23% of the circulating shares. The estimated floating loss today is approximately 60.72 million CNY [2]. - The Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) was established on September 28, 2020, with a current scale of 83.343 billion CNY. Year-to-date, it has achieved a return of 31.7%, ranking 1024 out of 4222 in its category. Over the past year, it has returned 94.08%, ranking 332 out of 3789, while it has incurred a loss of 4.61% since inception [2]. Fund Management - The fund manager of Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) is Rong Ying, who has been in the position for 9 years and 306 days, managing a total fund size of 138.288 billion CNY. During his tenure, the best fund return was 129.49%, while the worst was -7.58% [3]. - Another fund manager, Zhao Zongting, has served for 8 years and 143 days, overseeing a fund size of 389.148 billion CNY. His best fund return was 107.43%, with the worst being -32.63% during his tenure [3].