【崇达技术：当前订单需求回暖 子公司三德冠有望下半年实现扭亏为盈】智通财经8月22日电，崇达技 术在业绩交流会上表示，由于行业部分产能因连续亏损出现关闭的情况，以及当前订单需求回暖，柔性 印刷电路板（FPC）产品价格出现了企稳回升的积极信号，公司子公司三德冠有望在2025年下半年实现 经营业绩的实质性改善，成功扭亏为盈。 转自：智通财经 ...

Core Viewpoint - The company, Chongda Technology (002815), indicates that the flexible printed circuit board (FPC) product prices are showing positive signs of stabilization and recovery due to the closure of some industry capacities caused by continuous losses and a current rebound in order demand [1] Group 1: Industry Insights - The industry is experiencing closures of certain capacities due to ongoing losses, which is contributing to a more favorable pricing environment for FPC products [1] - There is a current recovery in order demand, which is further supporting the stabilization of product prices in the FPC sector [1] Group 2: Company Performance - The company's subsidiary, Sandeguan, is expected to achieve substantial improvement in operating performance by the second half of 2025, with a successful turnaround from losses to profitability anticipated [1]

Core Viewpoint - The stock price of Hongxin Electronics (300657.SZ) experienced a dramatic decline from its historical high of 47.61 yuan, dropping nearly 50% within 18 trading days, reminiscent of previous market manipulations known as "killing pigs" [2][3] Group 1: Stock Performance and Market Sentiment - The stock's rise and fall in 2023 mirrored past patterns, with significant price fluctuations driven by speculative trading and social media hype [3][5] - On April 7, the stock plummeted by 20%, leading to investor losses of up to 22% in a single day, following negative rumors about the company's shareholder meeting [6][9] - The stock's volatility was exacerbated by social media influencers promoting the stock, which led to a rapid sell-off by institutional investors [6][9] Group 2: Business Operations and Financial Performance - Hongxin Electronics' main business, flexible printed circuit boards (FPC), generated 3.097 billion yuan in revenue for 2024, accounting for 52.71% of total revenue, but with a low gross margin of only 2.75% [10][11] - The company has faced continuous losses from 2021 to 2023, although it expects a recovery in 2024 due to AI and consumer electronics demand [11] - The company reported a significant increase in confirmed revenue from its computing power business, reaching 1.988 billion yuan in 2024, a year-on-year growth of 5303.3% [14] Group 3: Strategic Initiatives and Future Outlook - Hongxin Electronics has aggressively pursued AI computing power initiatives, including a 1 billion yuan investment in a project in Gansu [12][15] - The company has secured various strategic partnerships and contracts, including a 1.35 billion yuan order with a state-owned enterprise [15] - Despite the growth in computing power revenue, the company faces challenges with high debt levels, a debt-to-asset ratio of 78.85%, and significant financial costs impacting profitability [20]