Company Overview - Company name: Xiamen Chanzan Optoelectronics Co., Ltd. - Established on April 14, 2015, and listed on November 17, 2020 - Main business involves R&D, design, production, and sales of customized commercial interactive display devices - Revenue composition: Interactive all-in-one machines 34.29%, smart vehicle displays 27.51%, interactive displays 27.15%, touch display modules and others 11.05% [2] Stock Performance - As of January 7, the stock price decreased by 2.02% to 33.41 CNY per share, with a trading volume of 143 million CNY and a turnover rate of 2.45% - Total market capitalization stands at 5.906 billion CNY - Year-to-date stock price change is a decrease of 0.21%, with a 5-day increase of 0.57%, a 20-day decrease of 0.86%, and a 60-day increase of 1.00% [1][2] Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.865 billion CNY, a slight decrease of 0.04% year-on-year - Net profit attributable to shareholders was 156 million CNY, down 4.16% year-on-year [2] Shareholder Information - As of December 19, the number of shareholders increased to 17,400, up by 3.69% - Average circulating shares per person decreased by 3.56% to 9,835 shares - Cumulative cash dividends since the A-share listing amount to 391 million CNY, with 278 million CNY distributed over the last three years [2][3] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the sixth largest circulating shareholder, holding 1.5237 million shares as a new shareholder [3]

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report discusses the company's performance and future projections, indicating a positive outlook for the upcoming years [1][4]. Core Viewpoints - The company reported a revenue of 1.196 billion yuan in H1 2025, a year-on-year decrease of 8.64%, and a net profit attributable to shareholders of 112 million yuan, down 13.85% year-on-year [1]. - The main business segments include smart interactive display devices, smart interactive all-in-one machines, smart vehicle display screens, and touch display modules, with varying performance across these segments [2][3]. - The company has entered a strategic partnership with Satogate to explore new scenarios for cryptocurrency payments, leveraging its expertise in industrial-grade touch displays and POS terminals [3]. Summary by Relevant Sections Financial Performance - In H1 2025, the smart interactive display device business generated 325 million yuan, down 3.88% year-on-year; the smart interactive all-in-one machine business achieved 410 million yuan, up 12.31%; the smart vehicle display screen business saw a revenue of 329 million yuan, down 24.02%; and the touch display module and other businesses generated 132 million yuan, down 23.62% [2]. - The company’s expense ratios for sales, management, R&D, and finance were 4.22%, 6.55%, 4.22%, and -0.36%, respectively, with year-on-year increases of 1.47 percentage points, 1.52 percentage points, 0.89 percentage points, and 0.58 percentage points [2]. - The gross margin was 23.92%, reflecting a slight increase of 0.10 percentage points year-on-year, while the net profit margin was 9.39%, down 0.57 percentage points year-on-year [2]. Business Development - The company has been enhancing its brand recognition globally since acquiring MicroTouch™ in 2020 and is now developing its own brand while establishing a network of agents [3]. - The company has a stake in Hongtong Technology, which provides touch display solutions to automotive manufacturers, enhancing its position in the smart cockpit market [3]. Profit Forecast - The company is projected to achieve net profits of 227 million yuan, 295 million yuan, and 377 million yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings ratios of 31, 24, and 18 times based on the closing price on August 27, 2025 [4].