9月5日，华兴源创涨5.16%，截至发稿，报30.38元/股，成交1.45亿元，换手率1.09%，总市值135.31亿 元。 鹏华中证1000指数增强A（016785）基金经理为苏俊杰、时赟超。 截至发稿，苏俊杰累计任职时间7年220天，现任基金资产总规模197.79亿元，任职期间最佳基金回报 74.66%， 任职期间最差基金回报-21.6%。 时赟超累计任职时间252天，现任基金资产总规模6.58亿元，任职期间最佳基金回报28.27%， 任职期间 最差基金回报-2.44%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，苏州华兴源创科技股份有限公司位于江苏省苏州市吴中区苏州工业园区青丘巷8号，成立日 期2005年6月15日，上市日期2019年7月22日，公司主营业务涉及从事平板显示及集成电路的检测设备研 发、生产和销售。主营业务收入构成为：检测设备62.84%，治具及配件31.05%，其他3.14%，组装设备 2.97%。 从基金十大重仓 ...

Core Viewpoint - The credit rating agency maintains the credit rating of Suzhou Huaxing Yuan Chuang Technology Co., Ltd. at AA with a stable outlook, indicating a strong creditworthiness and stable financial performance [1][3]. Company Overview - Suzhou Huaxing Yuan Chuang is a leading provider of industrial automation testing equipment and complete line detection system solutions, primarily engaged in the manufacturing and sales of automated intelligent equipment for flat panel display and integrated circuit testing [2][5]. - The company has a strong competitive advantage and maintains good cooperation with major clients such as BOE Technology Group, Luxshare Precision, and Apple Inc. [5][22]. Financial Performance - As of March 2025, the company's total assets amounted to 53.38 billion yuan, with total liabilities of 19.60 billion yuan and equity of 33.80 billion yuan, resulting in a debt-to-asset ratio of 36.69% [9][12]. - The company's total revenue for the first quarter of 2025 was 18.61 billion yuan, with a profit margin of 42.12% [19][22]. - The company reported a total profit loss of 4.89 billion yuan in 2023, primarily due to a decline in gross profit and increased fixed costs during the capacity ramp-up phase [5][22]. Market Position and Industry Trends - The flat panel display testing industry is expected to grow due to the increasing demand for domestic panel production and the rise of new display technologies such as Mini/Micro LED and Micro OLED [13][14]. - The wearable device testing industry is also anticipated to expand, driven by technological advancements and increasing market demand [15][16]. - The integrated circuit testing industry is projected to see stable growth, supported by domestic policy initiatives and rising demand in sectors like AI and IoT [17][18]. Business Operations - The company's main revenue sources include testing equipment, fixtures, and components, with a notable decline in orders due to the downturn in the consumer electronics sector [20][22]. - The company has made significant advancements in R&D, with a focus on new generation display detection and SoC chip testing technologies, achieving a high R&D expenditure ratio of 21.62% [5][21]. - The assembly equipment business has seen growth due to increased orders from existing clients and new customer acquisitions, although profit margins have faced pressure from strong bargaining power of new clients [25][26]. Governance and Strategy - The company's governance structure remains stable, with a recent change in one independent director, and it continues to pursue diversification in related industries while maintaining its core competencies in testing technologies [24].