11月17日，英唐智控跌2.18%，成交额9.23亿元。两融数据显示，当日英唐智控获融资买入额1.02亿 元，融资偿还1.18亿元，融资净买入-1527.05万元。截至11月17日，英唐智控融资融券余额合计13.74亿 元。 截至9月30日，英唐智控股东户数6.55万，较上期减少17.42%；人均流通股15917股，较上期增加 21.10%。2025年1月-9月，英唐智控实现营业收入41.13亿元，同比增长2.40%；归母净利润2607.00万 元，同比减少43.67%。 分红方面，英唐智控A股上市后累计派现2.79亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，英唐智控十大流通股东中，香港中央结算有限公司退出十大流通 股东之列。 责任编辑：小浪快报 融资方面，英唐智控当日融资买入1.02亿元。当前融资余额13.74亿元，占流通市值的11.24%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，英唐智控11月17日融券偿还0.00股，融券卖出2900.00股，按当日收盘价计算，卖出金额3.12 万元；融券余量1.64万股，融券余额17.66万元，低于近一年30%分位水平， ...

住所：浙江省宁波市北仑区大港五路88号（一照多址） 证券代码：603015 证券简称：弘讯科技 公告编号：2025-041 宁波弘讯科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 宁波弘讯科技股份有限公司（以下简称"公司"）分别于2025年8月22日和2025年9月11日召开第五届董事 会2025年第二次会议和2025年第一次临时股东大会，审议通过了《关于取消监事会并修订〈公司章程〉 及相关议事规则的议案》，具体内容详见公司披露于上海证券交易所网站（www.sse.com.cn）及指定媒 体的《关于修订〈公司章程〉及制定、修订部分治理制度的公告》（公告编号：2025-029）。 近日，公司于宁波市市场监督管理局依照相关规定和要求完成了变更登记手续和章程的备案手续，并领 取了新的《营业执照》，变更后的《营业执照》基本信息如下： 统一社会信用代码：91330200730181413W 名称：宁波弘讯科技股份有限公司 类型：股份有限公司（中外合资、上市） 法定代表人：熊钰麟 ...

Core Viewpoint - Bernstein analysts maintain a strong market rating for Xiaomi Group, citing high-end technology implementation, robust overseas IoT potential, and growth opportunities in electric vehicles both in China and abroad [1] Summary by Relevant Categories - **Stock Performance** - Since late September, Xiaomi Group's stock price has retraced approximately 28% from its peak [1] - **Investment Recommendation** - Analysts suggest that long-term investors should consider buying the stock at its current attractive levels [1]

Core Viewpoint - Bernstein maintains an "outperform" rating for Xiaomi Group (1810.HK) due to its technology-driven premium strategy, strong overseas IoT business potential, and growth opportunities in electric vehicles in both China and international markets [1] Group 1: Investment Recommendation - Analysts note that Xiaomi's stock price has corrected approximately 28% from its peak since late September, suggesting that current valuation levels are attractive for long-term investors to buy [1]

Core Insights - Xiaomi Group's electric vehicle momentum exceeds expectations, with Q3 deliveries reaching approximately 110,000 units, and the business may turn profitable [1] - Despite delays in the approval of the second factory in Beijing, Q4 delivery volumes are expected to rise further due to healthy demand and the launch of a new large SUV in the coming year [1] - The company anticipates a 23% increase in electric vehicle shipments by 2027, with an expected net profit margin of 4.5% in the second half of 2027 [1] Financial Adjustments - The investment bank has revised its operating profit forecasts for Xiaomi's core business down by 2% and 1% for 2026 and 2027, respectively, while maintaining a "neutral" rating and lowering the target price from HKD 60 to HKD 50 [1] - The decline in core business profitability is more severe than previously anticipated, attributed to slowing growth in the domestic smartphone market, a pullback in IoT demand after a peak, and rising component costs impacting gross margins [1] - Core profitability is expected to remain under pressure for the next two to three quarters, with significant year-on-year growth likely not resuming until the second half of next year [1]

Core Insights - Xiaomi Group's electric vehicle momentum exceeds expectations, with third-quarter deliveries reaching approximately 110,000 units, and the business may turn profitable [1] - Despite delays in the approval of the second factory in Beijing, fourth-quarter deliveries are expected to rise further due to healthy demand and the launch of a new large SUV next year [1] - The company anticipates a 23% increase in electric vehicle shipments by 2027, with an expected net profit margin of 4.5% in the second half of 2027 [1] Financial Adjustments - The firm has revised down its operating profit forecasts for Xiaomi's core business by 2% and 1% for 2026 and 2027, respectively, maintaining a "neutral" rating and lowering the target price from HKD 60 to HKD 50 [1] - The decline in core business profitability is more severe than previously anticipated, attributed to slowing growth in the domestic smartphone market, a pullback in IoT demand after a seasonal peak, and rising component costs impacting gross margins [1] - Core earnings are expected to remain under pressure for the next two to three quarters, with significant year-on-year growth likely not resuming until the second half of next year [1]

Group 1 - On November 11, Ying Tang Intelligent Control experienced a decline of 5.33% with a trading volume of 4.302 billion yuan, and the net financing purchase was 18.89 million yuan [1] - As of November 11, the total margin balance for Ying Tang Intelligent Control was 1.331 billion yuan, accounting for 9.04% of its circulating market value, indicating a high level compared to the past year [1] - The company’s main business revenue composition includes 91.59% from electronic components, 8.06% from chip design and manufacturing, and minimal contributions from IoT products and software sales [1] Group 2 - As of September 30, the number of shareholders for Ying Tang Intelligent Control was 65,500, a decrease of 17.42% from the previous period, while the average circulating shares per person increased by 21.10% [2] - For the period from January to September 2025, Ying Tang Intelligent Control reported a revenue of 4.113 billion yuan, a year-on-year increase of 2.40%, but the net profit attributable to shareholders decreased by 43.67% to 26.07 million yuan [2] - Since its A-share listing, Ying Tang Intelligent Control has distributed a total of 279 million yuan in dividends, with no dividends paid in the last three years [3]

Core Viewpoint - Zhong An Ke's stock price has shown a significant increase this year, with a year-to-date rise of 16.41%, while recent trading activity indicates a mixed sentiment among investors [1][2]. Financial Performance - For the period from January to September 2025, Zhong An Ke achieved a revenue of 2.365 billion yuan, representing a year-on-year growth of 15.84%. The net profit attributable to shareholders reached 198 million yuan, marking a substantial increase of 1748.16% [2]. - The company has cumulatively distributed 351 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - As of November 6, Zhong An Ke's stock price was 3.76 yuan per share, with a trading volume of 150 million yuan and a turnover rate of 1.71%. The total market capitalization stood at 10.815 billion yuan [1]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on August 6, where it recorded a net buy of -11.6165 million yuan [1]. Shareholder Information - As of September 30, 2025, Zhong An Ke had 116,900 shareholders, an increase of 0.56% from the previous period. The average number of circulating shares per person was 19,815, a slight decrease of 0.33% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 13.9336 million shares, a decrease of 706,100 shares compared to the previous period [3]. Business Segments - Zhong An Ke's main business segments include security operation services (66.03% of revenue), smart city system integration (27.76%), security intelligent product manufacturing (5.88%), leasing (0.31%), and others (0.02%) [2]. - The company operates within the software development industry, specifically in vertical application software, and is associated with concepts such as low-priced stocks, the Belt and Road Initiative, domestic software, and smart cities [2].

Company Summary - Yinghantong (SH 688080) held its first temporary meeting of the fifth board of directors on November 4, 2025, to discuss the election of the chairman of the board [1] - For the year 2024, Yinghantong's revenue composition is 99.64% from the Internet of Things (IoT) and 0.36% from other businesses [1] - As of the report, Yinghantong has a market capitalization of 3.7 billion yuan [1] Industry Summary - A significant increase in overseas orders by 246% has been reported, covering over 50 countries and regions [1] - Entrepreneurs have raised concerns about some companies selling products at a loss, warning of potential vicious competition expanding into overseas markets [1]

Core Viewpoint - Jianyin International has slightly lowered the target price for Xiaomi Group-W (01810) by 2.9% from HKD 69 to HKD 67 while maintaining an "Outperform" rating due to adjustments in profit forecasts for IoT and smartphone margins [1] Financial Performance - The forecast for Xiaomi's Q3 2025 revenue is expected to be slightly below institutional expectations, with a year-on-year increase of 22% to RMB 112.7 billion, but a quarter-on-quarter decrease of 3% [1] - Adjusted net profit for Q3 is projected to be RMB 9.7 billion, reflecting a year-on-year increase of 55% but a quarter-on-quarter decrease of 10% [1] - The smartphone gross margin is anticipated to be under pressure, estimated at around 11%, due to rising component prices, particularly for LPDDR4X smartphones [1] IoT and Network Services - Growth in the IoT segment is expected to significantly slow down, primarily due to a high base from the previous year influenced by government subsidies, with a reduction in subsidies this quarter [1] - Despite the impact of price wars being limited, the IoT segment is projected to grow by 25% and 22% in the fiscal years 2025 and 2026, respectively [1] - For network services, growth is anticipated at 9% and 6% for the fiscal years 2025 and 2026, respectively [1] Electric Vehicle (EV) Performance - Xiaomi's EV deliveries for Q3 are expected to reach 108,800 units, representing a quarter-on-quarter increase of 34% [1] - The average selling price of EVs continues to rise, benefiting from the contribution of the YU7 model, with projected EV revenue of RMB 28.7 billion [1]