Company Overview - ChaoSheng Electronics, established on September 5, 1997, and listed on October 8, 1997, is located in Longhu District, Shantou City, Guangdong Province. The company specializes in the research, production, and sales of printed circuit boards, liquid crystal displays, touch screens, ultra-thin and special copper-clad laminates, and ultrasonic electronic instruments [1]. Financial Performance - For the period from January to September 2025, ChaoSheng Electronics achieved a revenue of 4.674 billion yuan, representing a year-on-year growth of 10.91%. The net profit attributable to the parent company was 178 million yuan, reflecting a year-on-year increase of 20.93% [2]. - Since its A-share listing, ChaoSheng Electronics has distributed a total of 1.148 billion yuan in dividends, with 215 million yuan distributed over the past three years [3]. Stock Performance - As of November 27, ChaoSheng Electronics' stock price increased by 2.07% to 12.32 yuan per share, with a market capitalization of 6.616 billion yuan. The stock has risen by 21.74% year-to-date, but has seen a decline of 6.53% over the past 20 days and 10.98% over the past 60 days [1]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on July 8, where it recorded a net purchase of 153 million yuan [1]. Shareholder Information - As of September 30, 2025, the number of shareholders for ChaoSheng Electronics was 45,400, an increase of 3.35% from the previous period. The average number of circulating shares per shareholder was 11,817, a decrease of 3.24% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest, holding 15.3208 million shares, an increase of 11.4716 million shares from the previous period [3].

Core Viewpoint - The company, Ultrasonic Electronics, has indicated that its ultrasonic electronic instruments can be utilized for non-destructive testing, positioning, assessment, and diagnosis in the power facility sector [1] Company Summary - Ultrasonic Electronics produces instruments that are applicable in the field of power facilities [1]

Core Viewpoint - The stock of Ultrasonic Electronics has experienced fluctuations, with a recent decline of 2.06% and a year-to-date increase of 26.78%, indicating volatility in its market performance [1][2]. Company Overview - Ultrasonic Electronics, established on September 5, 1997, and listed on October 8, 1997, is located in Shantou, Guangdong Province. The company specializes in the research, production, and sales of printed circuit boards, LCDs, touch screens, ultra-thin and special copper-clad laminates, and ultrasonic electronic instruments [1]. - The revenue composition of Ultrasonic Electronics is as follows: printed circuit boards 50.64%, LCDs 27.87%, copper-clad laminates 16.91%, and ultrasonic electronic instruments and others 4.59% [1]. Financial Performance - For the period from January to September 2025, Ultrasonic Electronics achieved a revenue of 4.674 billion yuan, representing a year-on-year growth of 10.91%. The net profit attributable to the parent company was 178 million yuan, reflecting a year-on-year increase of 20.93% [2]. - Since its A-share listing, Ultrasonic Electronics has distributed a total of 1.148 billion yuan in dividends, with 215 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders of Ultrasonic Electronics was 45,400, an increase of 3.35% from the previous period. The average number of circulating shares per person was 11,817, a decrease of 3.24% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 15.3208 million shares, an increase of 11.4716 million shares compared to the previous period. Meanwhile, the fund "Zhaoshang Quantitative Selected Stock Initiation A" holds 3.0497 million shares, a decrease of 826,200 shares [3].

Core Insights - The company reported a revenue of 4.674 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 10.91% [1] - The net profit attributable to shareholders reached 178 million yuan, marking a year-on-year increase of 20.93% [1] Company Overview - The main products of the company include printed circuit boards, liquid crystal displays and touch screens, copper-clad laminates, semi-cured sheets, and ultrasonic electronic instruments [1] - The company has developed and mastered several industry-leading core technologies, with a total of 653 patent authorizations, including 185 invention patents [1] - Recognized as a national-level innovative enterprise, multiple subsidiaries have been identified as national high-tech enterprises [1] Industry Position - In the printed circuit board sector, the company has the capability to mass-produce HDI (High-Density Interconnect) boards ranging from 1 to 6 layers, with a maximum layer count of 42 [1] - The company is actively expanding into artificial intelligence applications and industrial control sectors, continuously reserving high-quality customer resources [1] - The company closely follows the technological development of its clients and collaborates on technical research and development with high-quality brand clients, optimizing product and capacity structure to strengthen market competitiveness [1]

Group 1 - The core point of the news is that Ultrasonic Electronics has seen a stock price increase of 5.02%, reaching 13.39 CNY per share, with a trading volume of 301 million CNY and a turnover rate of 4.24%, resulting in a total market capitalization of 7.19 billion CNY [1] - Ultrasonic Electronics, established on September 5, 1997, and listed on October 8, 1997, is located in Shantou, Guangdong Province. The company's main business includes the production and sales of printed circuit boards, liquid crystal displays, touch screens, ultra-thin and special copper-clad laminates, and ultrasonic electronic instruments [1] - The revenue composition of Ultrasonic Electronics is as follows: printed circuit boards account for 50.64%, liquid crystal displays for 27.87%, copper-clad laminates for 16.91%, and ultrasonic electronic instruments and others for 4.59% [1] Group 2 - From the perspective of fund holdings, one fund under GF Fund has a significant position in Ultrasonic Electronics. The GF Manufacturing Smart Selection Stock A Fund (023524) held 72,100 shares in the second quarter, representing 1.08% of the fund's net value, making it the fifth-largest holding [2] - The GF Manufacturing Smart Selection Stock A Fund (023524) was established on March 12, 2025, with a latest scale of 31.49 million CNY and has achieved a return of 40.6% since its inception [2] Group 3 - The fund manager of GF Manufacturing Smart Selection Stock A Fund is Yang Dong, who has been in the position for 4 years and 116 days. The total asset size of the fund is 15.065 billion CNY, with the best fund return during his tenure being 102.54% and the worst being 2.35% [3]

Core Points - The stock price of Ultrasonic Electronics fell by 5.03% to 12.08 CNY per share, with a trading volume of 277 million CNY and a turnover rate of 4.20%, resulting in a total market capitalization of 6.487 billion CNY [1] Company Overview - Ultrasonic Electronics, established on September 5, 1997, and listed on October 8, 1997, is located in Longhu District, Shantou City, Guangdong Province. The company specializes in the research, production, and sales of printed circuit boards, liquid crystal displays, touch screens, ultra-thin and special copper-clad laminates, and ultrasonic electronic instruments [1] - The revenue composition of Ultrasonic Electronics is as follows: printed circuit boards account for 50.64%, liquid crystal displays for 27.87%, copper-clad laminates for 16.91%, and ultrasonic electronic instruments and others for 4.59% [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under GF Fund has a significant position in Ultrasonic Electronics. The GF Manufacturing Intelligent Selection Stock A Fund (023524) held 72,100 shares in the second quarter, representing 1.08% of the fund's net value, making it the fifth-largest holding. The estimated floating loss today is approximately 46,100 CNY [2] - The GF Manufacturing Intelligent Selection Stock A Fund (023524) was established on March 12, 2025, with a latest scale of 31.4912 million CNY and has achieved a return of 41.44% since inception [2] Fund Manager Information - The fund manager of GF Manufacturing Intelligent Selection Stock A Fund (023524) is Yang Dong, who has been in the position for 4 years and 109 days. The total asset scale of the fund is 15.065 billion CNY, with the best fund return during his tenure being 105.16% and the worst being 3.4% [3]

Core Viewpoint - The company, Ultrasonic Electronics, reported significant growth in its 2025 semi-annual results, with revenue reaching 3.045 billion yuan and net profit at 115 million yuan, indicating strong profitability and growth potential [2][3]. Financial Performance - In the first half of 2025, Ultrasonic Electronics achieved operating revenue of 3.045 billion yuan, a year-on-year increase of 13.26% [3]. - The net profit attributable to shareholders was 115 million yuan, reflecting a substantial year-on-year growth of 53.62% [3]. Business Overview - Ultrasonic Electronics specializes in the research, production, and sales of printed circuit boards, LCDs, touch screens, copper-clad laminates, semi-cured sheets, and ultrasonic instruments [3]. - The company's ultrasonic instruments include phased array ultrasonic imaging systems, conventional ultrasonic flaw detectors, and various other non-destructive testing equipment, which are widely used in industries such as petrochemicals, transportation, aerospace, and power facilities [3]. Market Conditions and Strategic Response - The global economy is undergoing cyclical adjustments, with geopolitical conflicts and economic competition posing challenges to the electronic information industry [4]. - In response to rising material costs and intensified competition, Ultrasonic Electronics is actively exploring niche markets such as AI servers, optical modules, smart transportation, smart homes, and industrial control [4]. - The company is enhancing its product and capacity structure through R&D collaborations with brand clients, aiming to meet the demand for high-quality and high-performance products [4]. Growth Drivers - The increase in sales and profitability is attributed to effective business operations and a higher proportion of high-value-added products [5].

Core Insights - The company, Guangdong Shantou Ultrasonic Electronics Co., Ltd., reported a revenue of 3.045 billion yuan for the first half of 2025, representing a year-on-year growth of 13.26% [2] - The net profit attributable to shareholders reached 115 million yuan, showing a significant increase of 53.62% compared to the previous year [2] Business Strategy - The company focuses on four main product areas: printed circuit boards, liquid crystal displays and touch screens, copper-clad laminates and semi-cured sheets, and ultrasonic electronic instruments [2] - The company emphasizes market demand, technological innovation, product quality, and customer service to enhance its core competitiveness [2] Market Development - In the first half of the year, the company explored potential in niche markets such as AI servers, optical modules, smart mobility, smart home, and industrial control, while continuously building a strong customer base [3] - The company collaborates with high-quality brand clients on technology research and development, optimizing product and capacity structure to meet the demand for high-quality and high-performance products [3] Cost Management - The company adopts a dual strategy of increasing revenue and reducing costs, maintaining high capacity utilization while strengthening supply chain management [3] - Efforts to optimize production processes and reduce material costs have further solidified the company's market competitiveness [3]