Group 1 - Tiancheng Technology's stock price dropped by 5.01% to 77.53 CNY per share, with a trading volume of 70.6453 million CNY and a turnover rate of 1.90%, resulting in a total market capitalization of 9.67 billion CNY [1] - The company, established on November 19, 2010, specializes in the research, production, and sales of electronic chemicals required for PCB, with 99.98% of its main business revenue coming from specialized chemical products for copper plating [1] Group 2 - Huaxia Fund holds a significant position in Tiancheng Technology through its fund Huaxia New Materials Leading Mixed Initiation A (017697), which held 9,836 shares, accounting for 4.28% of the fund's net value, ranking as the tenth largest holding [2] - The fund was established on February 14, 2023, with a latest scale of 13.666 million CNY, achieving a year-to-date return of 14% and a one-year return of 7.36% [2] - The fund manager, Peng Ruizhe, has been in position for 2 years and 272 days, with the fund's total asset scale at 17.4859 million CNY, experiencing a best return of -18% and a worst return of -19.34% during his tenure [2]

Core Points - Tiancheng Technology announced the completion of a share reduction plan by its shareholder, Shanghai Qingxun Electronic Technology Partnership (Limited Partnership) [2] - As of November 7, 2025, Qingxun Electronic has reduced its holdings by a total of 11,900 shares through centralized trading bidding [2]

上海天承科技股份有限公司 2025年第三次临时股东会会议资料 证券代码：688603 证券简称：天承科技 上海天承科技股份有限公司 2025 年第三次临时股东会 会议资料 2025 年 11 月 | 2025 | 年第三次临时股东会会议须知 1 | | --- | --- | | 2025 | 年第三次临时股东会会议议程 3 | | 2025 | 年第三次临时股东会会议议案 5 | | | 议案一：《关于取消监事会并修订<公司章程>的议案》 5 | 上海天承科技股份有限公司 2025年第三次临时股东会会议资料 2025 年第三次临时股东会会议须知 为了维护上海天承科技股份有限公司（以下简称"公司"或"本公司"）股 东的合法权益，确保公司股东会的正常秩序和议事效率，根据《中华人民共和国 公司法》《中华人民共和国证券法》《上市公司股东会规则》以及《上海天承科 技股份有限公司章程》等有关规定，特制定本会议须知，请出席股东会的全体人 员遵照执行。 一、公司负责本次股东会的议程安排和会务工作，为确认出席会议的股东或 其代理人或其他出席者的出席资格，会议工作人员将对出席会议者的身份进行必 要的核对工作，请被核对者给予配合 ...

证券代码：688603 证券简称：天承科技 公告编号：2025-070 上海天承科技股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 股东持股的基本情况 本次减持计划实施前，股东上海青珣电子科技合伙企业（有限合伙）（以下 简称"青珣电子"）直接持有公司股份 4,070,190 股，占公司总股本比例为 3.26%， 其中 482,690 股为无限售条件股份。 减持计划的实施结果情况 | 股东名称 | 青珣电子 | | | | --- | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 | □是 | √否 | | | 直接持股 5%以上股东 | □是 | √否 | | | 董事、监事和高级管理人员 | □是 | √否 | | | 其他：持股 5%以下股东 | | | 一、减持主体减持前基本情况 1 | 持股数量 | 4,070,190股 | | --- | --- | | 持股比例 | 3.26% | | 当前持股股份来源 | 前 ...

Core Viewpoint - Tiancheng Technology (SH 688603) announced the completion of a share reduction plan by its shareholder Qingxun Electronics, which has reduced its holdings by 11,900 shares as of November 7, 2025 [1] Company Summary - Tiancheng Technology's revenue composition for the year 2024 is as follows: 99.82% from electronic circuits and 0.18% from other businesses [1] - As of the report date, Tiancheng Technology has a market capitalization of 10.2 billion yuan [1]

Core Points - The company Tiancheng Technology announced that its shareholder, Shanghai Qingxun Electronic Technology Partnership (Limited Partnership), has reduced its shareholding by 11,900 shares, accounting for 0.1% of the total share capital [1] - The reduction was executed through centralized bidding transactions, with the share price ranging from 80.27 to 89.38 yuan per share, resulting in a total amount of 10.35 million yuan [1] - Following the reduction, Qingxun Electronic's shareholding percentage decreased from 3.26% to 3.17% [1]

Core Points - Tiancheng Technology (688603.SH) announced that its shareholder, Qingxun Electronics, has completed its share reduction plan as of November 7, 2025, having reduced a total of 11,900 shares through centralized trading bidding [1] Summary by Category - **Company Actions** - Qingxun Electronics has reduced its holdings in Tiancheng Technology by 11,900 shares [1] - The share reduction plan has been fully implemented and is now concluded [1] - **Shareholder Information** - The notification regarding the share reduction was sent by Qingxun Electronics to Tiancheng Technology [1] - The reduction was executed through a centralized trading bidding method [1]

Market Overview - The electronic chemicals sector experienced a slight decline of 0.13% on November 10, with Tiancheng Technology leading the drop [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance - Notable gainers in the electronic chemicals sector included: - Xingfu Electronics (688545) with a closing price of 37.86, up 5.70% [1] - Ruilian New Materials (688550) at 48.80, up 4.14% [1] - Jinhong Gas (688106) at 21.91, up 3.74% [1] - Conversely, significant decliners included: - Datang Zhi (688603) at 81.62, down 6.22% [2] - Siquan New Materials (301489) at 175.20, down 5.19% [2] - Sanping New Science (6568889) at 71.70, down 4.74% [2] Capital Flow - The electronic chemicals sector saw a net outflow of 476 million yuan from institutional investors, while retail investors contributed a net inflow of 310 million yuan [2][3] - The capital flow for specific stocks indicated: - Zhongjuxin (688549) had a net outflow of 34.82 million yuan from institutional investors [3] - Ruilian New Materials (688550) saw a net inflow of 18.05 million yuan from retail investors [3] - Huate Gas (688268) had a net inflow of 16.85 million yuan from retail investors [3]

Group 1 - Tiancheng Technology's stock increased by 5.25%, reaching 86.88 CNY per share, with a trading volume of 93.66 million CNY and a turnover rate of 2.35%, resulting in a total market capitalization of 10.836 billion CNY [1] - The company, established on November 19, 2010, specializes in the research, production, and sales of electronic chemicals required for PCB, with 99.98% of its main business revenue coming from specialized chemical products for copper plating [1] Group 2 - Huaxia Fund holds a significant position in Tiancheng Technology through its fund, Huaxia New Materials Leading Mixed Initiation A (017697), which held 9,836 shares, accounting for 4.28% of the fund's net value, ranking as the tenth largest holding [2] - The fund was established on February 14, 2023, with a latest scale of 13.666 million CNY, achieving a year-to-date return of 15.31% and a one-year return of 9.58% [2] - The fund manager, Peng Ruizhe, has been in position for 2 years and 268 days, with the fund's total asset scale at 17.4859 million CNY [2]

Core Insights - The article highlights the rapid growth and strategic positioning of Tiancheng Technology as a leading domestic enterprise in high-end copper plating and electroplating technology, leveraging AI capabilities and domestic substitution trends [3][4][5]. Company Development - Tiancheng Technology has transitioned from a foundational phase to a competitive position against foreign giants like DuPont and Amtech, aiming to establish itself as a comprehensive national brand in the electronic chemical products sector [4][5]. - The company has achieved significant milestones during the 14th Five-Year Plan, including brand recognition, technological advancements, and market penetration, with over 80% of domestic PCB listed companies as long-term partners [5][6]. Future Goals - The company aims to achieve a sales target of at least 3 billion yuan by 2030, marking its fourth five-year plan [3][10]. - Tiancheng Technology plans to expand its production capacity significantly, targeting a total annual capacity of approximately 90,000 tons by 2026, which will support its ambitious sales goals [10]. Strategic Moves - The company is relocating its headquarters from Zhuhai to Shanghai in July 2025, becoming the first company to do so after listing on the Sci-Tech Innovation Board, reflecting confidence in future growth and strategic positioning [6][7]. - Tiancheng Technology is also engaging in investment opportunities, participating in a private equity fund to deepen its integration into the semiconductor and electronic materials industry chain [7]. Market Opportunities - The company has recently received certification from NVIDIA, positioning itself to benefit from the anticipated geometric growth in the PCB electronic chemical market driven by AI server applications [8][9]. - With the breakthrough in domestic wet process equipment technology, Tiancheng Technology is poised to capture market share in high-reliability PCBs, particularly for AI servers, challenging the previous monopoly held by foreign brands [9][10].