Core Points - The stock price of Canqin Technology has dropped by 5.01% on October 10, reaching 26.71 CNY per share, with a trading volume of 174 million CNY and a turnover rate of 1.60%, resulting in a total market capitalization of 10.684 billion CNY [1] - Canqin Technology has experienced a continuous decline for four consecutive days, with a cumulative drop of 4.68% during this period [1] Company Overview - Jiangsu Canqin Technology Co., Ltd. is located in Zhangjiagang Free Trade Zone, Suzhou, Jiangsu Province, and was established on April 9, 2004, with its listing date on November 16, 2021 [1] - The company's main business involves the research, development, production, and sales of microwave dielectric ceramic components [1] - The revenue composition of the main business includes: filters 85.93%, low intermodulation passive components 5.92%, HTCC 3.34%, antennas 2.87%, resonators 1.11%, and others 0.83% [1] Fund Holdings - The Qianhai Open Source Fund has one fund heavily invested in Canqin Technology, specifically the Qianhai Open Source Artificial Intelligence Theme Mixed A Fund (001986), which held 1.4163 million shares in the second quarter, accounting for 6.47% of the fund's net value, ranking as the sixth-largest holding [2] - The estimated floating loss for the fund today is approximately 1.997 million CNY, with a floating loss of 1.9545 million CNY during the four-day decline [2] - The Qianhai Open Source Artificial Intelligence Theme Mixed A Fund was established on May 4, 2016, with a current scale of 582 million CNY, and has achieved a return of 13.41% this year, ranking 5616 out of 8166 in its category [2]

融券方面，灿勤科技9月25日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年70%分位水平，处于较高位。 机构持仓方面，截止2025年6月30日，灿勤科技十大流通股东中，申万菱信新经济混合A（310358）位 居第八大流通股东，持股285.03万股，相比上期增加57.71万股。香港中央结算有限公司退出十大流通股 东之列。 资料显示，江苏灿勤科技股份有限公司位于江苏省苏州市张家港保税区金港路266号，成立日期2004年4 月9日，上市日期2021年11月16日，公司主营业务涉及从事微波介质陶瓷元器件的研发、生产和销售。 主营业务收入构成为：滤波器85.93%，低互调无源组件5.92%，HTCC3.34%，天线2.87%，谐振器 1.11%，其他(补充)0.83%。 责任编辑：小浪快报 截至6月30日，灿勤科技股东户数9063.00，较上期增加6.14%；人均流通股44135股，较上期减少 5.78%。2025年1月-6月，灿勤科技实现营业收入2.87亿元，同比增长52.76%；归母净利润5191.19万元， 同比增长51.94%。 ...

Core Viewpoint - Jiangsu Cai Qin Technology Co., Ltd. reported significant growth in revenue and net profit for the first half of 2025, indicating strong performance in the advanced electronic ceramics industry, particularly in the production of microwave dielectric ceramic components [2][3]. Company Overview and Financial Indicators - The company specializes in the research, production, and sales of high-end advanced electronic ceramic components, including filters, resonators, and antennas, with applications in various fields such as mobile communications, radar, and aerospace [4][5]. - For the first half of 2025, the company achieved a revenue of approximately 287.20 million yuan, a 52.76% increase compared to the same period last year [3]. - The total profit reached approximately 56.93 million yuan, reflecting a growth of 56.41% year-on-year [3]. - The net profit attributable to shareholders was approximately 51.91 million yuan, up 51.94% from the previous year [3]. - The basic earnings per share increased by 44.44% to 0.13 yuan [3]. Industry and Business Analysis - The company is positioned within the "computer, communication, and other electronic equipment manufacturing" sector, specifically in the "other electronic components manufacturing" category [4]. - The main product, the dielectric waveguide filter, is a core RF component for communication base stations, known for its high quality factor, low insertion loss, and compact size [4][5]. - The company has established strong partnerships with major clients in the telecommunications sector, including Huawei, Qualcomm, and Ericsson, enhancing its market presence [4][5]. - The company has developed over 170 types of dielectric ceramic powder formulas, with more than 80 achieving commercial application, showcasing its strong R&D capabilities [9][10]. Competitive Advantages - The company emphasizes technological innovation as its core development strategy, maintaining a focus on R&D in electronic ceramic materials and components [7][11]. - It has a comprehensive production capability that covers the entire process from ceramic powder preparation to component manufacturing, allowing for flexible production modes tailored to customer needs [11][12]. - The company has received multiple awards and recognitions, including being named a "little giant" enterprise and a national knowledge property advantage enterprise, reflecting its industry leadership and innovation [8][11].

Company Overview - Haoda Electronics has restarted its IPO process after previously withdrawing it in December 2022, with the guidance of Minsheng Securities [1] - The company specializes in the research, design, production, and sales of surface acoustic wave (SAW) radio frequency chips, with products including filters, duplexers, and oscillators [1][2] - Haoda Electronics aims to raise 960 million yuan for expansion projects and working capital [1] Product and Technology - The company has developed core technologies that allow it to design and manufacture high-performance SAW RF chip products [1] - Haoda Electronics utilizes CSP packaging technology, achieving product sizes of 0.9mm×0.7mm and 1.6mm×1.2mm, meeting industry miniaturization demands [1] - The company also employs WLP packaging technology, with filter and duplexer products reaching sizes of 0.8mm×0.6mm and 1.5mm×1.1mm, suitable for modular development [2] Market Position and Challenges - Haoda Electronics' products are widely used in the communication field, covering a frequency range of 30KHz to 3.6GHz, but the domestic industry still lags behind international leaders in technology [2] - The domestic SAW filter industry is in its early stages, with significant reliance on imports for mobile phone filters [2] - The major shareholder of Haoda Electronics is Wuxi Haoda Investment Co., Ltd., holding a direct stake of 25.19% [2]

Core Viewpoint - *ST Dongjing is undergoing a potential change in control, with a new investor from the equity investment industry planning to acquire a significant stake, leading to a trading suspension for up to two days starting May 28 [2][6]. Group 1: Control Change Announcement - On May 27, *ST Dongjing announced that its control might change due to negotiations with a third-party investor, which could acquire 25% to 29.99% of the voting rights [6][9]. - The current largest shareholders, Ningbo Meishan Free Trade Port Area Blue Ocean Investment Management Center and shareholder Li Qingyue, hold 10.02% and 6.85% of shares, respectively [6][9]. - The company has no controlling shareholder or actual controller as of the 2024 annual report [6][9]. Group 2: Stock Performance - Following the announcement, *ST Dongjing's stock hit the daily limit up, closing at 6.26 yuan per share, with a total market capitalization of 1.524 billion yuan [2][9]. - The stock's trading volume was reported at 131,600 shares, indicating significant investor interest [4]. Group 3: Financial Performance - For the fiscal year 2024, *ST Dongjing reported an audited revenue of 217 million yuan, with a net loss attributable to shareholders of 73.45 million yuan [11]. - The company has been placed under delisting risk warning since March 26 due to financial performance issues, with a daily price fluctuation limit of 5% [11]. Group 4: Management's Future Plans - The management has denied any plans for equity transfer during a recent earnings call, emphasizing a focus on the core crystal oscillator business and efforts to improve operational efficiency and cost control [9][11]. - The company aims to enhance sales resources and R&D investments to maintain growth and seek new business opportunities [11].

Core Viewpoint - Dongjing Electronics has been issued a delisting risk warning due to its financial performance, with a reported revenue of 217.193 million yuan and a net loss of 73.4534 million yuan for the fiscal year 2024 [1][2]. Group 1: Delisting Risk Warning - The company's stock will be suspended for one day starting March 25, 2025, and will resume trading on March 26, 2025, under the new name "*ST Dongjing" [2][3]. - The stock will be traded on the risk warning board with a daily price fluctuation limit of 5% after the delisting risk warning is implemented [2][3]. Group 2: Reasons for Delisting Risk Warning - The delisting risk warning is triggered by the company's audited financial results, which show that the net profit, total profit, and revenue metrics have fallen below the thresholds set by the Shenzhen Stock Exchange's listing rules [1][4]. Group 3: Measures to Address Delisting Risk - The company plans to enhance the research, production, and sales of high-margin miniaturized products to improve profit margins [2][3]. - It aims to strengthen business collaborations and expand sales channels by partnering with leading enterprises and platforms in the industry [3]. - The company will focus on improving internal management and operational efficiency through better process standardization and data system utilization [3]. Group 4: Risks of Termination of Listing - If the company fails to meet the financial criteria set forth in the listing rules for the fiscal year 2025, its stock may face termination of listing [4][5].