Core Insights - This week, 23 stocks experienced a price increase of over 30%, with Shikong Technology and Haixia Innovation seeing cumulative gains exceeding 60% [1] - Shikong Technology has achieved an 8-day consecutive rise, with the company indicating that its main business focuses on the night economy and smart city sectors, covering areas such as landscape lighting, cultural tourism night tours, smart street lighting, and smart parking operations [1] - In contrast, the decline list includes 80 stocks that fell by more than 10%, with 8 stocks, including Zhujiang Piano, Sino Medical, and Jiayuan Technology, experiencing cumulative declines exceeding 20% [1]

Core Viewpoint - The company focuses on two main business systems: night economy and smart city, with no significant changes in its core business operations [1] Business Overview - The company's main business areas include landscape lighting, cultural tourism night tours, smart street lighting, and smart parking operations [1]

Core Viewpoint - The company has experienced significant stock price volatility and is facing potential risks due to a lengthy acquisition process and high trading activity [2] Summary by Relevant Sections Stock Performance - The company's stock price has increased by 198.04% since September 2025, with a 94.89% rise during the period from October 23 to 31 [2] - On October 31, the stock's turnover rate was 35.03%, indicating high trading volume and associated risks [2] Acquisition Details - The company plans to acquire 100% of Jiahe Jinwei, but the transaction is expected to have a long execution period, introducing significant uncertainty [2] - The performance of the target company will not be included in the company's consolidated financial statements in the short term [2] Business Operations - The company's main business focuses on two core areas: nighttime economy and smart city initiatives, covering sectors such as landscape lighting, cultural tourism night tours, smart street lighting, and smart parking operations [2] - There have been no significant changes in the company's main business operations [2]

Core Viewpoint - The stock price of Shikong Technology (605178) has experienced significant volatility and growth, raising concerns about trading risks and uncertainties related to its acquisition plans [1] Stock Performance - Since September 2025, the company's stock price has increased by 198.04% [1] - From October 23 to 31, the stock price surged by 94.89%, with three instances of hitting abnormal trading fluctuation indicators [1] - On October 31, the stock's turnover rate was 35.03%, indicating high trading volume and associated risks [1] Acquisition Plans - The company plans to acquire 100% equity of Jiahe Jinwei, but the transaction has a long progression cycle and significant uncertainties [1] - The performance of the target company will not be included in the company's consolidated financial statements in the short term [1] Business Operations - The company's main business focuses on two core areas: nighttime economy and smart city initiatives [1] - Key operational fields include landscape lighting, cultural tourism night tours, smart street lighting, and smart parking operations [1] - There have been no significant changes in the company's main business operations [1]

Core Viewpoint - The company, Shikong Technology, focuses on the night economy and smart city sectors, with its main business areas including landscape lighting, cultural tourism night tours, smart street lighting, and smart parking operations. Currently, there have been no significant changes in the company's main business operations [1]. Group 1 - The company's main business is centered around two core systems: night economy and smart city [1]. - The business scope includes landscape lighting, cultural tourism night tours, smart street lighting, and smart parking operations [1]. - There have been no major changes in the company's main business [1].

Core Viewpoint - Jieshun Technology's stock price dropped by 5.04% to 11.49 CNY per share, with a trading volume of 264 million CNY and a turnover rate of 4.87%, resulting in a total market capitalization of 7.393 billion CNY [1] Company Overview - Jieshun Technology, established on June 17, 1992, and listed on August 15, 2011, is located in Longhua District, Shenzhen, Guangdong Province. The company specializes in smart parking and smart community platform operation services [1] - The revenue composition of Jieshun Technology includes: - Smart hardware: 39.18% - Parking asset operation: 27.81% - Software and cloud services: 16.79% - Smart parking operation: 10.69% - Property leasing: 5.11% - Others: 0.43% [1] Shareholder Analysis - Morgan Stanley's fund, specifically the Morgan Stanley Digital Economy Mixed A (017102), is among the top ten circulating shareholders of Jieshun Technology. In the second quarter, it increased its holdings by 1.2606 million shares, totaling 10.6326 million shares, which accounts for 2.31% of the circulating shares. The estimated floating loss today is approximately 6.4859 million CNY [2] - The Morgan Stanley Digital Economy Mixed A fund was established on March 2, 2023, with a latest scale of 2.386 billion CNY. Year-to-date returns are 52.01%, ranking 422 out of 8194 in its category; the one-year return is 110.5%, ranking 168 out of 7963; and since inception, the return is 109.01% [2] Fund Performance - The fund manager of Morgan Stanley Digital Economy Mixed A is Lei Zhiyong, who has been in the position for 6 years and 132 days. The total asset scale of the fund is 4.547 billion CNY, with the best return during his tenure being 126.99% and the worst return being -4.71% [3] Top Holdings - Another Morgan Stanley fund, the Morgan Stanley Technology Leading Mixed A (002707), is a major holding in Jieshun Technology. In the second quarter, it reduced its holdings by 178,600 shares, now holding 683,400 shares, which represents 5.91% of the fund's net value. The estimated floating loss today is about 416,900 CNY [4] - The Morgan Stanley Technology Leading Mixed A fund was established on December 13, 2017, with a latest scale of 127 million CNY. Year-to-date returns are 23.87%, ranking 3042 out of 8194; the one-year return is 63.98%, ranking 1378 out of 7963; and since inception, the return is 92.33% [4]