[Product].

Tengjing Technology: Planning to purchase the control of Xunte Communications will be suspended from the 27th

Tengjing Technology (688195) announced that the company is planning to purchase the control of Shenzhen Xunte Communication Technology Co., Ltd. (hereinafter referred to as "Xunte Communication") by issuing shares and paying cash, and the transaction is expected to constitute a major asset restructuring. The company's shares have been suspended since the market opened on February 27, and it is expected that the suspension will not exceed 5 trading days.

Hengrun shares: 12.8 million shares held by more than 5% shareholder Cheng Lixin will be auctioned judicially

Hengrun shares (603985) announced that more than 5% of the company's shareholders will be auctioned by the judiciary to hold 12.8 million shares of the company, accounting for 17.08% of their shares and 2.90% of the company's total share capital. The reason for the auction is a contract dispute. Cheng Lixin is not the controlling shareholder or actual controller of the company, and the judicial auction of the company's shares held by him will not lead to a change in the company's control, nor will it affect the company's daily operation and management.

Wuzhou New Year: The company's self-inspection production and operation are normal, and the performance of the Mexican factory in 2024 is less than expected

Wuzhou New Year (603667) issued an announcement on abnormal fluctuations in stock trading, saying that the company's shares will deviate from the closing price increase by more than 20% in three consecutive trading days from February 24 to 26, 2025, which is an abnormal fluctuation in stock prices. The company's self-inspection production and operation are normal, and the performance of the Mexican factory in 2024 is less than expected, with a loss of nearly 20 million yuan in the first three quarters, but there have been no major changes in the internal and external environment. The company, the controlling shareholder and the actual controller do not have any material matters that should be disclosed but have not been disclosed. The company's TTM price-to-earnings ratio valuation is much higher than the industry level, and there are investment risks.

Wuzhong, Jiangsu: Filed a case by the China Securities Regulatory Commission on suspicion of illegal information disclosure

Jiangsu Wuzhong (600200) announced that the company received the "Notice of Case Filing" from the China Securities Regulatory Commission on February 26, 2025, and the China Securities Regulatory Commission decided to file a case against the company due to the company's suspected illegal information disclosure. If the facts determined by the subsequent administrative penalty of the China Securities Regulatory Commission touch the situation of forced delisting of material violations, the company's shares will be subject to forced delisting of major violations. At present, the company's daily operation is normal, and it will actively cooperate with the investigation and fulfill the obligation of information disclosure.

Hangzhou Iron and Steel Co., Ltd.: It does not involve the research and development of core technologies of computing power

Hangzhou Iron and Steel Co., Ltd. (600126) issued an announcement on abnormal fluctuations in stock trading, and the company paid attention to the relevant reports on the deployment and adaptation of its subsidiary DeepSeek in the early stage. The company's main business is the production and sales of steel and its rolled products, and the company's main business will not change in the short term. The business model of the company's computing power business is mainly the procurement of hardware equipment and related software, and the leasing services provided to customers after integration, which does not involve the research and development of core computing power technologies, etc., and is expected to account for 0.06% of the company's total operating income in 2024, accounting for a very small proportion. The DeepSeek deployment adaptation mentioned in relevant media reports refers to the installation of DeepSeek software in the partner's system under the above business model. The company has nothing to do with the development and application of core technologies such as the DeepSeek system, and has no business dealings with Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd.

Zhejiang Zhongcheng: The revenue generated by SEPS series products currently accounts for a small proportion of the company's total revenue

Zhejiang Zhongcheng (002522) issued an announcement on abnormal fluctuations in stock trading, and the company noticed that the recent attention to the hot concept of AI + adults in the market is high. The company's holding subsidiary, Zhejiang Zhongli Synthetic Materials Technology Co., Ltd., is mainly engaged in the research and development, production and sales of thermoplastic elastomers, and its developed hydrogenated styrene/isoprene block copolymer (SEPS) series products can be used in the field of adult products such as physical dolls. The company's main business remained stable and did not fluctuate significantly.

Ningbo Huaxiang: It is planned to sell its European business for 1 euro to completely solve its long-term loss problem

Ningbo Huaxiang (002048) announced that since 2014, the European business has suffered long-term large losses, which has had a great impact on the overall development of the company. On February 25, the company signed a share purchase and transfer agreement with Mutares AG, a private equity investment firm listed in Germany, with effective conditions, to sell Ningbo Huaxiang Europe, including a total of six companies in Germany, Romania and the United Kingdom, with a preliminary price of 1 euro. The transaction is expected to have a greater impact on the company's 2025 financial statements, but in the long run, Ningbo Huaxiang has got rid of the burden of long-term constraints on the company's development, which is conducive to the company's future development and value enhancement.

[Performance].

Sugon: Net profit in 2024 will be 1.914 billion yuan, a year-on-year increase of 4.26

Sugon (603019) announced that in 2024, the company will achieve a total operating income of 13.166 billion yuan, a year-on-year decrease of 8.27%; net profit attributable to shareholders of listed companies was 1.914 billion yuan, a year-on-year increase of 4.26%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 1.375 billion yuan, a year-on-year increase of 7.59%; basic earnings per share was 1.31 yuan, a year-on-year increase of 3.97%; The weighted average return on equity was 9.82%, down 0.48 percentage points year-on-year.

Maixinlin: In 2024, the net profit will be 45.2799 million yuan, a year-on-year increase of 197.01

Maixinlin (688685) released a performance report, achieving a total operating income of 477 million yuan in 2024, a year-on-year increase of 62.38%; net profit was 45.2799 million yuan, a year-on-year increase of 197.01%; Basic earnings per share was 0.31 yuan.

Donglai Technology: The net profit in 2024 will be 85.2367 million yuan, a year-on-year increase of 64.95

Donglai Technology (688129) released a performance report, achieving a total operating income of 598 million yuan in 2024, a year-on-year increase of 15.14%; net profit was 85.2367 million yuan, a year-on-year increase of 64.95%; Basic earnings per share was 0.76 yuan.

SmartGiant: In 2024, the net profit will be 15.2801 million yuan, a year-on-year increase of 70.07

SmartGiant (688115) released a performance report, achieving a total operating income of 185 million yuan in 2024, a year-on-year increase of 10.14%; net profit was 15.2801 million yuan, a year-on-year increase of 70.07%; Basic earnings per share was 0.23 yuan. In 2024, the company's revenue from automated production and testing equipment and technical services will increase, and various businesses will develop steadily.

Yingjixin: Net profit in 2024 will be 124 million yuan, a year-on-year increase of 322.73

Yingjixin (688209) released a performance report, achieving a total operating income of 1.429 billion yuan in 2024, a year-on-year increase of 17.53%; net profit was 124 million yuan, a year-on-year increase of 322.73%; Basic earnings per share was 0.29 yuan. During the reporting period, the company continued to enrich and optimize product categories and structures, and constantly explored new market areas and customer groups, resulting in sales revenue growth, gross profit margin improvement, and share-based payment expenses decreased year-on-year.

Fudan Microelectronics: Net profit in 2024 will be 573 million yuan, a year-on-year decrease of 20.43

Fudan Microelectronics (688385) released a performance report, achieving a total operating income of 3.59 billion yuan in 2024, a year-on-year increase of 1.51%; net profit was 573 million yuan, down 20.43% year-on-year; Basic earnings per share was 0.7 yuan. In 2024, the company adjusted the sales prices of some products in a timely manner to consolidate or expand its market share, and the sales volume and operating income increased. Affected by the decline in product sales prices and the adjustment of product structure, the company's comprehensive gross profit margin decreased by 5.26 percentage points during the reporting period.

Lianru Technology: Net profit in 2024 will be 118 million yuan, a year-on-year increase of 126.52

Lianru Technology (688449) released a performance report on February 26, achieving a total operating income of 1.174 billion yuan in 2024, a year-on-year increase of 13.55%; net profit was 118 million yuan, a year-on-year increase of 126.52%; Basic earnings per share was 0.32 yuan. In 2024, the operating income of the company's data storage main control chip business will achieve steady growth; The annual operating income of AIoT signal processing and transmission chip business increased significantly compared with the previous year.

Aotai Biotech: Net profit in 2024 will be 304 million yuan, a year-on-year increase of 68.18

Aotai Biotech (688606) released a performance report, achieving a total operating income of 870 million yuan in 2024, a year-on-year increase of 15.25%; net profit was 304 million yuan, a year-on-year increase of 68.18%; Basic earnings per share was 3.83 yuan. The growth of the company's performance is mainly due to the growth of the company's operating income and the profit growth brought about by cost reduction, cost control and efficiency improvement.

Xuantai Pharmaceutical: Net profit in 2024 will be 128 million yuan, a year-on-year increase of 109.97

Xuantai Pharmaceutical (688247) released a performance report, achieving a total operating income of 513 million yuan in 2024, a year-on-year increase of 70.97%; net profit was 128 million yuan, a year-on-year increase of 109.97%; Basic earnings per share was 0.28 yuan. During the reporting period, the company continued to strengthen the sales of products at home and abroad, and the sales revenue and equity sharing income of products increased significantly; At the same time, with the approval of CRO/CMO customers' products and the increase in commercial production and supply, CMO's revenue has increased significantly.

[Do a repurchase].

Yifei Laser: It is planned to repurchase the company's shares with 50 million yuan to 100 million yuan

Yifei Laser (688646) announced that the company intends to repurchase the company's shares through centralized bidding transactions, with a repurchase amount of not less than 50 million yuan and no more than 100 million yuan. The sources of funds include self-owned funds and self-raised funds, of which the self-raised part will be obtained through special loans of IB Wuhan Branch, and the loan amount shall not exceed 90 million yuan. The repurchased shares will be used for equity incentives/employee stock ownership plans or cancellation and reduce the registered capital at an appropriate time in the future, of which the number of shares used for equity incentives/employee stock ownership plans shall not be less than 50% of the total amount actually repurchased, and the number of shares used for cancellation shall not be more than 50% of the total amount actually repurchased. The repurchase price does not exceed 56.17 yuan per share. The repurchase period shall not exceed 12 months from the date of approval by the general meeting of shareholders.

[Sign a big order].

Lutianhua: It is planned to invest 1.171 billion yuan in the construction of a fine chemicals project with an annual output of 100,000 tons

Lutianhua (000912) announced that the company relies on the existing industrial foundation in the field of synthetic ammonia and oleochemical industry in Luzhou Naxi base, continuously extends the industrial chain, develops to fine chemicals, and plans to invest 1.171 billion yuan in the west area of Luzhou Lutianhua Chemical Industry Park to build a 100,000 tons/year green fine chemicals project.