12月30日，慧翰股份跌0.68%，成交额4.26亿元。两融数据显示，当日慧翰股份获融资买入额6973.10万 元，融资偿还7649.36万元，融资净买入-676.26万元。截至12月30日，慧翰股份融资融券余额合计3.98 亿元。 融资方面，慧翰股份当日融资买入6973.10万元。当前融资余额3.98亿元，占流通市值的9.32%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，慧翰股份12月30日融券偿还2800.00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5000.00股，融券余额66.14万元，超过近一年80%分位水平，处于高位。 截至9月30日，慧翰股份股东户数1.14万，较上期减少21.83%；人均流通股2827股，较上期增加 57.82%。2025年1月-9月，慧翰股份实现营业收入6.77亿元，同比减少7.85%；归母净利润1.36亿元，同 比增长0.75%。 分红方面，慧翰股份A股上市后累计派现2.28亿元。 机构持仓方面，截止2025年9月30日，慧翰股份十大流通股东中，香港中央结算有限公司位居第六大流 通股东，持股63.23万股，相比上期增加38.1 ...

Core Viewpoint - The company, Huihan Co., Ltd., is strategically investing in the commercial aerospace and satellite communication sectors by leveraging its expertise in intelligent connected vehicles and low-cost, high-reliability automotive components [1][3]. Group 1: Investment Strategy - Huihan Co., Ltd. has signed a partnership agreement with Huafu Capital Management to establish a private equity fund named Jiaxing Huahan Equity Investment Partnership, which will invest 100 million yuan in a commercial aerospace enterprise [1]. - The fund has a lifespan of five years, with one year designated for investment and four years for exit [1]. Group 2: Business Focus - The company specializes in providing intelligent connected solutions for smart vehicles and the industrial Internet of Things, focusing on the research, production, and sales of vehicle networking intelligent terminals and IoT smart modules [2]. - In the energy sector, Huihan Co., Ltd. has developed a digital energy management solution that enhances battery lifecycle management and aims to activate data and energy trading markets [2]. Group 3: Strategic Alignment - The investment in commercial aerospace aligns with national strategies for becoming a space power and advancing new infrastructure, laying the groundwork for the company's exploration of new fields [3]. - The investment will be funded by the company's own resources and is not expected to adversely affect its normal operations or financial status [3].

（文章来源：证券日报） 证券日报网讯 12月5日，慧翰股份在互动平台回答投资者提问时表示，公司正推动汽车智能网联技术降 维、拆解并复用至产业物联网，携手产业链头部企业，开拓机器人、能源市场。公司核心产品矩阵涵盖 车联网智能终端、物联网智能模组、软件与技术服务，已构建起支撑机器人产业场景的技术适配能力与 产品落地基础。具体的产品业务信息以公司公开披露信息为准。 ...

Core Viewpoint - Huihan Co., Ltd. has experienced fluctuations in stock performance and financing activities, with a notable decrease in revenue but a slight increase in net profit for the year-to-date period ending September 30, 2025 [1][2]. Financing Activities - On December 1, Huihan Co., Ltd. saw a financing buy-in amount of 17.98 million yuan, with a net financing buy of 5.12 million yuan after 12.86 million yuan in financing repayments [1]. - The total financing and securities balance reached 292 million yuan, accounting for 7.43% of the circulating market value, indicating a high level compared to the past year [1]. - The company had no short-selling activities on December 1, with a short-selling balance of 255,700 yuan, also reflecting a high level compared to the past year [1]. Business Performance - As of September 30, 2025, Huihan Co., Ltd. reported a revenue of 677 million yuan, a year-on-year decrease of 7.85%, while the net profit attributable to shareholders was 136 million yuan, showing a slight increase of 0.75% [2]. - The company's main business segments include vehicle networking smart terminals (74.71% of revenue), IoT smart modules (18.17%), and software and services (7.00%) [1]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 21.83% to 11,400, while the average circulating shares per person increased by 57.82% to 2,827 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 38,130 shares, while other ETFs exited the top ten list [3].

Group 1 - The core point of the news is that Huihan Microelectronics Co., Ltd. has experienced a significant decline in its stock price, dropping 12.26% over the past five days, with a current price of 125.03 CNY per share and a market capitalization of 13.069 billion CNY [1] - Huihan's main business involves the research, development, production, and sales of vehicle networking smart terminals and IoT smart modules, with revenue composition being 74.71% from vehicle networking smart terminals, 18.17% from IoT smart modules, 7.00% from software and services, and 0.12% from other sources [1] - The company was established on July 11, 2008, and went public on September 11, 2024, located in Fuzhou, Fujian Province [1] Group 2 - From the perspective of fund holdings, one fund under GF Fund has a significant position in Huihan shares, with the GF Consumer Discretionary Link A fund holding 900 shares, representing 0.04% of the fund's net value [2] - The GF Consumer Discretionary Link A fund has experienced a floating loss of approximately 1,719 CNY today and a total floating loss of 15,700 CNY during the five-day decline [2] - The fund was established on April 15, 2015, with a current scale of 169 million CNY, and has recorded a year-to-date return of 6.2% and a one-year return of 8.87% [2]

Core Insights - Huihan Microelectronics Co., Ltd. has seen a stock price increase of 5.27%, reaching 127.80 CNY per share, with a trading volume of 1.26 billion CNY and a turnover rate of 3.13%, resulting in a total market capitalization of 13.358 billion CNY [1] Company Overview - Huihan Microelectronics was established on July 11, 2008, and is located in Fuzhou, Fujian Province, China. The company specializes in the research, development, production, and sales of vehicle networking smart terminals and Internet of Things (IoT) smart modules, as well as providing software and technical services [1] - The revenue composition of Huihan Microelectronics is as follows: 74.71% from vehicle networking smart terminals, 18.17% from IoT smart modules, 7.00% from software and services, and 0.12% from other sources [1] Shareholder Information - Among the top ten circulating shareholders of Huihan Microelectronics, a fund under Southern Fund holds a position. The Southern CSI 1000 ETF (512100) reduced its holdings by 5,700 shares in the third quarter, now holding 286,900 shares, which accounts for 0.89% of the circulating shares. The estimated floating profit from this position is approximately 1.8359 million CNY [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a latest scale of 76.63 billion CNY. Year-to-date returns are 28.45%, ranking 1974 out of 4216 in its category, while the one-year return is 19.26%, ranking 2173 out of 3922 [2] - The fund manager of Southern CSI 1000 ETF (512100) is Cui Lei, who has been in the position for 7 years and 6 days, managing total assets of 122.76 billion CNY. The best fund return during this period is 178.4%, while the worst is -15.93% [2]

Core Viewpoint - Huihan Co., Ltd. is a significant player in the vehicle networking smart terminal and IoT smart module sectors, with a strong technical foundation and quality customer base, having been established in 2008 and listed on the Shenzhen Stock Exchange in 2024 [1] Financial Performance - In Q3 2025, Huihan Co., Ltd. reported revenue of 677 million yuan, ranking 32nd out of 63 in the industry, with the industry leader, Inspur Information, generating 120.67 billion yuan [2] - The net profit for the same period was 136 million yuan, placing the company 14th in the industry, with the top performer, Inspur Information, achieving a net profit of 1.49 billion yuan [2] Financial Ratios - As of Q3 2025, Huihan Co., Ltd. had a debt-to-asset ratio of 24.25%, lower than the industry average of 34.38% and down from 25.52% in the previous year [3] - The gross profit margin for Q3 2025 was 29.26%, slightly down from 29.59% year-on-year and below the industry average of 34.46% [3] Executive Compensation - The chairman, Sui Ronghua, received a salary of 1.3738 million yuan in 2024, an increase of 340,500 yuan from 2023 [4] - The general manager, Lin Wei, earned 1.3784 million yuan in 2024, up by 319,100 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 21.83% to 11,400, while the average number of circulating A-shares held per shareholder increased by 57.82% to 2,827.46 [5] - Hong Kong Central Clearing Limited was the sixth-largest shareholder, increasing its holdings by 381,300 shares [5] Business Highlights - Huihan Co., Ltd. has shown a compound annual growth rate (CAGR) of 47% in net profit from 2019 to 2024, driven by increased shipment volumes and product iterations [6] - The revenue from vehicle networking terminal devices in 2024 was 842 million yuan, a year-on-year increase of 32.19%, accounting for 82.39% of total revenue [6] - The company is expected to generate revenues of 1.339 billion yuan, 1.705 billion yuan, and 2.126 billion yuan from 2025 to 2027, with net profits projected at 238 million yuan, 308 million yuan, and 377 million yuan respectively [6]

Core Insights - On October 17, Huihan Co., Ltd. experienced a decline of 5.62% in stock price, with a trading volume of 194 million yuan [1] - The company reported a net financing outflow of 741.68 million yuan on the same day, with a total financing and securities balance of 2.18 billion yuan [1] Financing and Margin Trading - On October 17, the financing buy amount for Huihan was 15.73 million yuan, while the financing balance stood at 2.17 billion yuan, accounting for 5.71% of the circulating market value, which is below the 50th percentile of the past year [1] - In terms of securities lending, Huihan repaid 300 shares and sold 300 shares on October 17, with a selling amount of 35,400 yuan, while the securities lending balance was 613,500 yuan, exceeding the 90th percentile of the past year [1] Company Overview - Huihan Microelectronics Co., Ltd. was established on July 11, 2008, and is located in Fuzhou, Fujian Province [1] - The company specializes in the research, production, and sales of vehicle networking smart terminals and IoT smart modules, providing software and technical services [1] - The revenue composition includes 74.71% from vehicle networking smart terminals, 18.17% from IoT smart modules, 7.00% from software and services, and 0.12% from other sources [1] Financial Performance - As of June 30, the number of shareholders for Huihan was 14,600, an increase of 5.43% from the previous period, with an average of 1,791 circulating shares per person, up by 41.32% [2] - For the first half of 2025, Huihan reported a revenue of 451 million yuan, a year-on-year increase of 4.84%, and a net profit attributable to shareholders of 93.83 million yuan, reflecting a growth of 26.33% [2] Dividend and Shareholding Structure - Huihan has distributed a total of 175 million yuan in dividends since its A-share listing [3] - As of June 30, 2025, the largest circulating shareholder is the Southern CSI 1000 ETF, holding 292,600 shares as a new shareholder [3] - Other notable shareholders include Hong Kong Central Clearing Limited and Huaxia CSI 1000 ETF, with changes in their holdings compared to the previous period [3]

Core Insights - Huihan Co., Ltd. experienced a stock decline of 4.88% on October 14, with a trading volume of 241 million yuan [1] - The company reported a financing buy-in of 20.89 million yuan and a net financing buy of 5.186 million yuan on the same day [1][2] - As of June 30, 2025, the company achieved a revenue of 451 million yuan, representing a year-on-year growth of 4.84%, and a net profit of 93.825 million yuan, up 26.33% year-on-year [2] Financing and Margin Trading - On October 14, the total margin trading balance for Huihan Co., Ltd. was 228 million yuan, accounting for 5.55% of its market capitalization [1] - The company’s margin balance is above the 50th percentile of the past year, indicating a relatively high level of margin trading activity [1] - The short selling data shows that 400 shares were sold on October 14, with a total value of 50,800 yuan, and the short selling balance was 68,570 yuan, exceeding the 90th percentile of the past year [1] Business Overview - Huihan Co., Ltd. was established on July 11, 2008, and is located in Fuzhou, Fujian Province [1] - The company specializes in the research, development, production, and sales of intelligent terminals for vehicle networking and IoT smart modules, along with software and technical services [1] - The revenue composition includes 74.71% from vehicle networking intelligent terminals, 18.17% from IoT smart modules, 7.00% from software and services, and 0.12% from other sources [1] Shareholder and Institutional Holdings - As of June 30, 2025, the number of shareholders increased by 5.43% to 14,600, with an average of 1,791 circulating shares per person, up 41.32% [2][3] - The top circulating shareholder is the Southern CSI 1000 ETF, holding 292,600 shares as a new shareholder [3] - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 251,100 shares, a decrease of 11,700 shares from the previous period [3]

Group 1 - The core point of the news is that Huihan Microelectronics Co., Ltd. experienced a 5.1% drop in stock price, currently trading at 126.69 yuan per share, with a total market capitalization of 13.242 billion yuan [1] - The company, established on July 11, 2008, focuses on the research, production, and sales of vehicle networking smart terminals and IoT smart modules, with revenue composition being 74.71% from vehicle networking smart terminals, 18.17% from IoT smart modules, 7.00% from software and services, and 0.12% from other sources [1] Group 2 - Dongwu Fund has one fund heavily invested in Huihan shares, specifically the Dongwu Double Triangle Stock A (005209), which increased its holdings by 507 shares in the second quarter, totaling 4,507 shares, representing 3.15% of the fund's net value [2] - The fund has a current scale of 5.8348 million, with a year-to-date return of 48.96% and a one-year return of 35.95% [2]