Group 1 - The core point of the article highlights the performance of Zhongshi Technology, which saw a decline of 1.07% in its stock price, reaching 50.15 yuan per share, with a total market capitalization of 15.02 billion yuan [1] - Zhongshi Technology, established on April 10, 1997, and listed on December 27, 2017, specializes in the research, design, production, sales, and technical services of thermal materials, EMI shielding materials, and power filters, with thermal materials accounting for 98.05% of its main business revenue [1] Group 2 - From the perspective of major circulating shareholders, Guangfa Fund's Guangfa Multi-Emerging Stock Fund (003745) increased its holdings by 579,900 shares in the third quarter, now holding 1.6904 million shares, which represents 0.83% of the circulating shares [2] - The Guangfa Multi-Emerging Stock Fund has a current scale of 2.29 billion yuan and has achieved a return of 33.78% this year, ranking 1487 out of 4189 in its category [2] Group 3 - The fund manager of Guangfa Multi-Emerging Stock Fund is Zhou Zhishuo, who has been in the position for 5 years and 106 days, with the fund's total asset scale at 19.292 billion yuan [3] - During Zhou's tenure, the best fund return was 47.06%, while the worst return was -24.96% [3] Group 4 - The Guangfa Multi-Emerging Stock Fund holds Zhongshi Technology as its fourth-largest heavy stock, with 1.6904 million shares, accounting for 3.01% of the fund's net value [4]

Core Points - Zhongshi Technology's stock increased by 5.2% to 42.87 CNY per share, with a trading volume of 484 million CNY and a turnover rate of 5.67%, resulting in a total market capitalization of 12.84 billion CNY [1] Company Overview - Beijing Zhongshi Weiye Technology Co., Ltd. was established on April 10, 1997, and listed on December 27, 2017. The company specializes in the research, design, production, sales, and technical services of thermal materials, EMI shielding materials, and power filters. The main business revenue composition is 98.05% from thermal materials and 1.95% from other supplementary products [1] Shareholder Insights - The fund "Xinda Australia Fund" has a position in Zhongshi Technology, with the "Xinao Craftsmanship Selected Two-Year Holding Period Mixed Fund" (010363) newly entering the top ten circulating shareholders, holding 846,900 shares, which is 0.41% of the circulating shares. The estimated floating profit today is approximately 1.7954 million CNY [2] - The "Xinao Craftsmanship Selected Two-Year Holding Period Mixed Fund" has a total scale of 1.738 billion CNY, with a year-to-date return of 26.59%, ranking 2822 out of 8130 in its category, and a one-year return of 35.93%, ranking 1872 out of 8054 [2] Fund Manager Performance - The fund manager of "Xinao Craftsmanship Selected Two-Year Holding Period Mixed Fund" is Zhu Ran, who has been in the position for 8 years and 23 days, managing assets totaling 5.066 billion CNY. The best fund return during his tenure is 342.67%, while the worst is -19.99% [3] Fund Holdings - The "Xinda Australia Fund" also holds Zhongshi Technology in its portfolio, with the "Xinao Intelligent Selection Pioneer One-Year Holding Period Mixed A Fund" (015440) holding 139,400 shares, accounting for 4.64% of the fund's net value. The estimated floating profit today is approximately 295,500 CNY [4] - The "Xinao Intelligent Selection Pioneer One-Year Holding Period Mixed A Fund" has a total scale of 102 million CNY, with a year-to-date return of 24.85%, ranking 3104 out of 8130 in its category, and a one-year return of 37.16%, ranking 1762 out of 8054 [4] Additional Fund Manager Information - The fund managers of "Xinao Intelligent Selection Pioneer One-Year Holding Period Mixed A Fund" are Guo Min and Zhu Ran. Guo Min has been in the position for 3 years and 304 days, managing assets totaling 13.7 million CNY, with the best return of 40.36% and the worst of -31.8%. Zhu Ran, as mentioned earlier, manages 5.066 billion CNY with significant returns [5]

Core Points - Zhongshi Technology's stock increased by 5.21%, reaching 41.61 CNY per share, with a trading volume of 383 million CNY and a turnover rate of 4.64%, resulting in a total market capitalization of 12.463 billion CNY [1] - The company, Beijing Zhongshi Weiye Technology Co., Ltd., specializes in the research, design, production, sales, and technical services of thermal materials, EMI shielding materials, and power filters, with thermal materials accounting for 98.05% of its main business revenue [1] Shareholder Analysis - According to data, one fund under GF Fund ranks among the top ten circulating shareholders of Zhongshi Technology. The GF Multi-Dimensional Emerging Stocks Fund (003745) increased its holdings by 579,900 shares in the third quarter, totaling 1.6904 million shares, which represents 0.83% of the circulating shares [2] - The fund has achieved a year-to-date return of 25.41%, ranking 1677 out of 4206 in its category, and a one-year return of 19.95%, ranking 2381 out of 3986 [2] - The fund manager, Zhou Zhishuo, has a total asset scale of 19.292 billion CNY, with the best fund return during his tenure being 47.06% and the worst being -24.96% [2] Fund Holdings - The GF Multi-Dimensional Emerging Stocks Fund (003745) holds 1.6904 million shares of Zhongshi Technology, accounting for 3.01% of the fund's net value, making it the fourth-largest holding [3] - The estimated floating profit from this position is approximately 3.4823 million CNY [3]

Core Viewpoint - Zhongshi Technology experienced a decline of 5.17% on October 31, with a stock price of 46.81 yuan per share and a total market capitalization of 14.02 billion yuan [1] Group 1: Company Overview - Beijing Zhongshi Weiye Technology Co., Ltd. was established on April 10, 1997, and listed on December 27, 2017 [1] - The company specializes in the research, design, production, sales, and technical services of thermal conductive materials, EMI shielding materials, and power filters [1] - The main business revenue composition is 98.05% from thermal conductive materials and 1.95% from other supplementary products [1] Group 2: Shareholder Information - The fund "Xinda Australia Fund" has a position in Zhongshi Technology, with the "Xinao Craftsmanship Selected Two-Year Holding Period Mixed Fund" (010363) newly entering the top ten circulating shareholders, holding 846,900 shares, which is 0.41% of the circulating shares [2] - The estimated floating loss for this fund today is approximately 2.16 million yuan [2] - The fund was established on October 30, 2020, with a latest scale of 1.738 billion yuan, and has achieved a year-to-date return of 41.32% [2] Group 3: Fund Performance - The fund manager of "Xinao Craftsmanship Selected Two-Year Holding Period Mixed Fund" is Zhu Ran, who has a cumulative tenure of 7 years and 361 days, with a total fund asset size of 5.066 billion yuan [3] - The best fund return during Zhu Ran's tenure is 342.67%, while the worst return is -7.06% [3] Group 4: Top Holdings - The "Xinda Australia Fund" also holds a significant position in Zhongshi Technology through the "Xinao Intelligent Selection Pioneer One-Year Holding Period Mixed A Fund" (015440), which holds 139,400 shares, accounting for 4.64% of the fund's net value [4] - The estimated floating loss for this fund today is approximately 355,500 yuan [4] - This fund was established on June 14, 2022, with a latest scale of 102 million yuan, achieving a year-to-date return of 36.01% [4]

Core Viewpoint - Zhongshi Technology is a leading provider of thermal management solutions in China, focusing on thermal materials, EMI shielding materials, and power filters, with a strong technical capability and market presence [1] Group 1: Business Performance - In Q3 2025, Zhongshi Technology reported revenue of 1.298 billion yuan, ranking 15th in the industry, below the top competitors [2] - The main business segment, thermal materials, generated revenue of 717 million yuan, accounting for 98.05% of total revenue [2] - The net profit for the same period was 252 million yuan, ranking 8th in the industry, significantly higher than the industry average [2] Group 2: Financial Ratios - The company's debt-to-asset ratio was 20.30% in Q3 2025, lower than the industry average of 28.64% [3] - The gross profit margin was 33.92%, exceeding both the previous year's margin and the industry average [3] Group 3: Executive Compensation - Chairman Wu Xiaoning's salary for 2024 was 1.113 million yuan, a decrease from the previous year [4] - General Manager Wu Han's salary increased significantly to 1.4924 million yuan in 2024 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 28.67% to 42,000 [5] - The average number of shares held per shareholder decreased by 21.88% [5] Group 5: Market Outlook - Zhongshi Technology is expected to benefit from the upgrade of thermal solutions for major clients, particularly in North America [5] - The company is projected to achieve net profits of 298 million, 419 million, and 550 million yuan from 2025 to 2027, with a target price of 56.00 yuan [5] - Analysts predict steady growth in net profits and earnings per share for the years 2025 to 2027 [6]

Company Overview - Zhongshi Technology, established on April 10, 1997, and listed on December 27, 2017, is located in Beijing Economic and Technological Development Zone. The company specializes in the research, design, production, sales, and technical services of thermal materials, EMI shielding materials, and power filters. The main business revenue composition is 98.05% from thermal materials and 1.95% from other supplementary products [1]. Stock Performance - On September 23, Zhongshi Technology's stock fell by 5.13%, trading at 42.37 CNY per share, with a transaction volume of 820 million CNY and a turnover rate of 9.20%. The total market capitalization is 12.69 billion CNY [1]. Shareholder Information - Among the top ten circulating shareholders of Zhongshi Technology, one fund under GF Fund ranks as a significant shareholder. The GF Multi-Dimensional Emerging Stock Fund (003745) entered the top ten circulating shareholders in the second quarter, holding 1.1105 million shares, which accounts for 0.55% of the circulating shares. The estimated floating loss today is approximately 2.543 million CNY [2]. Fund Performance - The GF Multi-Dimensional Emerging Stock Fund (003745), managed by Zhou Zhishuo, has a total asset scale of 18.32 billion CNY. Year-to-date, the fund has achieved a return of 41.13%, ranking 1022 out of 4220 in its category. Over the past year, the return is 78.19%, ranking 1041 out of 3814, and since inception, the return is 108.82% [2].

General Provisions - The company aims to protect the legal rights of shareholders, employees, and creditors, and to regulate its organization and behavior according to relevant laws [1][3] - The company was established as a joint-stock company by the transformation of Shenzhen Jingquan Hua Electronics Co., Ltd. and registered with the Shenzhen Market Supervision Administration [1][2] - The company received approval from the China Securities Regulatory Commission for its initial public offering of 20 million shares on June 9, 2017 [1][3] Company Information - The registered capital of the company is RMB 270,916,968 [2] - The company is located at Jingquan Hua Industrial Park, 325 Guiyue Road, Guanlan Street, Longhua District, Shenzhen, with a postal code of 518110 [2] - The company is a permanent joint-stock company [2] Management and Responsibilities - The board of directors represents the company in executing its affairs, with the chairman serving as the legal representative [2][3] - The legal representative's civil activities conducted on behalf of the company will have legal consequences for the company [2][3] - Shareholders are liable for the company's debts only to the extent of their subscribed shares, while the company is liable for its debts with its entire assets [2][3] Business Objectives and Scope - The company's business objective is to maximize returns for shareholders and support national economic development while adhering to laws and regulations [3][4] - The business scope includes the research and sales of power supply products, electronic components, transformers, photovoltaic inverters, and electric vehicle charging equipment, among others [4] Share Issuance - The company's shares are issued in the form of stocks, with each share having a par value of RMB 1 [5][6] - The total number of shares issued by the company is 270,916,968, all of which are ordinary shares [5][6] - The company must not provide financial assistance for others to acquire its shares, except for employee stock ownership plans [5][6] Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends, request meetings, supervise the company's operations, and transfer their shares [11][12] - Shareholders must comply with laws and the company's articles of association, and they cannot withdraw their capital except as permitted by law [16][40] - Shareholders abusing their rights to harm the company or other shareholders will be liable for damages [16]