Core Viewpoint - The total margin financing and securities lending balance in A-shares decreased to 26,808.60 billion yuan, a reduction of 120.12 billion yuan from the previous trading day, representing 2.62% of the A-share circulating market value [1] Group 1: Margin Financing and Securities Lending - The margin financing and securities lending balance is 26,808.60 billion yuan, down by 120.12 billion yuan (-0.45%) from the previous day [2] - The trading volume for margin financing and securities lending was 1,993.51 billion yuan, a decrease of 260.13 billion yuan, accounting for 9.08% of the total A-share trading volume [1] Group 2: Industry and Stock Performance - Among the 31 primary industries, 9 industries experienced net financing inflows, with the public utilities sector leading with a net inflow of 3.86 billion yuan [2] - The coal, construction decoration, and basic chemicals industries also saw significant net financing inflows [2] - A total of 20 stocks had net financing inflows exceeding 1 billion yuan, with Zhongji Xuchuang leading at 9.44 billion yuan [2][3] - Other notable stocks with high net financing inflows include Hikvision, SMIC, Shiyun Circuit, Bosheng New Materials, China Railway, Shanxi Black Cat, Pingtan Development, China Satellite, and Dongshan Precision [2][3]

Group 1 - The stock of Dongshan Precision fell by 5.11%, trading at 69.65 yuan per share, with a total market capitalization of 127.57 billion yuan [1] - Dongshan Precision, established on October 28, 1998, specializes in precision sheet metal and casting manufacturing, as well as electronic manufacturing services [1] - The company's main revenue sources include electronic circuit products (65.23%), touch panels and LCD modules (17.98%), precision components (13.93%), LED display devices (1.69%), and others (1.17%) [1] Group 2 - Red土 Innovation Fund holds a significant position in Dongshan Precision, with its fund, Hongtu Innovation Emerging Industry Mixed A, owning 578,300 shares, representing 6.08% of the fund's net value [2] - The fund has experienced a floating loss of approximately 2.17 million yuan today [2] - The fund has a total scale of 782 million yuan, with a year-to-date return of 9.21% and a one-year return of 167.41%, ranking 5th out of 8,123 in its category [2] Group 3 - The fund manager of Hongtu Innovation Emerging Industry Mixed A is Liao Xinghao, who has been in the position for 4 years and 77 days [3] - Under Liao's management, the fund has achieved a best return of 102.32% and a worst return of -1.39% [3]

Group 1 - The stock price of Dongshan Precision fell by 5.11% to 69.65 CNY per share, with a trading volume of 422 million CNY and a turnover rate of 0.43%, resulting in a total market capitalization of 127.57 billion CNY [1] - Dongshan Precision, established on October 28, 1998, and listed on April 9, 2010, specializes in manufacturing and servicing precision sheet metal parts and precision castings, as well as flexible circuit board design, production, and sales [1] - The company's main business revenue composition includes: electronic circuit products (65.23%), touch panels and LCD display modules (17.98%), precision component products (13.93%), LED display devices (1.69%), and others (1.17%) [1] Group 2 - Taiping Fund has one fund heavily invested in Dongshan Precision, specifically the Taiping Low Carbon Economy Mixed Initiation A (018327), which held 10,900 shares, accounting for 4.23% of the fund's net value, ranking as the ninth largest holding [2] - The Taiping Low Carbon Economy Mixed Initiation A fund was established on August 15, 2023, with a latest scale of 16.39 million CNY, yielding 2.48% this year, ranking 5226 out of 8873 in its category, and achieving a one-year return of 33.07%, ranking 3479 out of 8123 [2] - The fund manager, Chang Lu, has been in position for 8 years and 65 days, with total fund assets of 1.437 billion CNY, achieving a best return of 31.5% and a worst return of -30.51% during the tenure [3]

Core Insights - The main focus of the news is on the significant inflow of capital into various stocks, highlighting the top 20 stocks by capital inflow as of February 5, with notable performances in terms of percentage increase and monetary value [1][2][3] Group 1: Top Stocks by Capital Inflow - Pingtan Development leads with a capital inflow of 1.278 billion, showing a price increase of 10.05% [2] - Wangsu Science & Technology follows with an inflow of 0.682 billion and a price increase of 7.48% [2] - N North Core U has an inflow of 0.666 billion, with a remarkable price increase of 183.33% [2] - Haixia Innovation shows a strong performance with a capital inflow of 0.642 billion and a price increase of 20% [2] - Other notable stocks include 263 with 0.566 billion inflow and a 10.04% increase, and China Merchants Bank with 0.554 billion and a 1.79% increase [2] Group 2: Sector Performance - The stocks listed are from various sectors, including agriculture, internet services, consumer electronics, and cultural media, indicating diverse investment interests [2][3] - The electronic components sector is represented by Fenghua High-Tech with a capital inflow of 0.401 billion and a price increase of 9.99% [3] - Aerospace is represented by Beimo High-Tech, which has a capital inflow of 0.312 billion and a price increase of 10% [3]

Group 1 - The top 20 stocks with significant capital inflow as of February 5 include Pingtan Development (1.214 billion), Wangsu Technology (648 million), and Guizhou Moutai (555 million) [1][2] - Pingtan Development saw a price increase of 10.05%, while Wangsu Technology increased by 6.94% [2] - Other notable stocks with capital inflow include China Merchants Bank (520 million, +2.03%), and Industrial Fulian (455 million, +0.99%) [2][3] Group 2 - The sectors represented among the top inflow stocks include agriculture, internet services, and food and beverage [2][3] - Companies like Haidilao (2.92 billion) and Wuxi AppTec (2.44 billion) are also highlighted for their capital inflow and respective sector performance [3] - The overall trend indicates a strong interest in technology and consumer goods sectors, as reflected in the stock performance and capital movement [1][2]

东山精密：PCB+光模块共振，全面拥抱 AI 大趋势 元件 东山精密（002384.SZ） 证券研究报告/公司深度报告 2026 年 02 月 03 日 | 评级： | 买入（维持） | 公司盈利预测及估值 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | 分析师：王芳 | | 营业收入（百万元） | 33,651 | 36,770 | 41,858 | 64,796 | 79,996 | | | | 增长率 yoy% | 7% | 9% | 14% | 55% | 23% | | 执业证书编号：S0740521120002 | | 归母净利润（百万元） | 1,965 | 1,086 | 1,539 | 7,160 | 9,949 | | Email：wangfang02@zts.com.cn | | 增长率 yoy% | -17% | -45% | 42% | 365% | 39% | | | | 每股收益（元） | 1.07 ...

Core Viewpoint - The company, Dongshan Precision (002384), is committed to the research and manufacturing of high-speed optical modules to meet market and customer demands, aiming for high-quality development [1]. Group 1 - The company emphasizes its focus on aligning with market and customer needs [1]. - The commitment to high-speed optical module development is highlighted as a key area for future growth [1]. - The company's strategy is aimed at supporting its high-quality development objectives [1].

Group 1 - A-shares showed mixed performance on February 4, with the Shanghai Composite Index rising by 0.38%, driven by gains in coal, oil and petrochemicals, and transportation sectors [1] - The Consumer Electronics ETF (159732.SZ) fell by 1.39%, with individual stocks like Crystal Optoelectronics rising by 4.43% and Sanan Optoelectronics by 3.94%, while companies like Xinwei Communication and Dongshan Precision experienced declines of -4.81% and -4.79% respectively [1] Group 2 - Apple reported a record revenue of $143.756 billion for Q1 of fiscal year 2026, marking a 16% year-over-year increase, with net profit also up by 16% to $42.097 billion and earnings per share of $2.84, exceeding market expectations [3] - China Galaxy Securities noted that high-end smartphone sales, including Apple, showed resilience compared to mid-to-low-end brands amid rising component prices, suggesting a focus on the Apple supply chain in consumer electronics investments [3] - The Consumer Electronics ETF (159732) tracks the National Index of Consumer Electronics, investing in 50 A-share listed companies involved in the consumer electronics industry, primarily in electronic manufacturing, semiconductors, and optical optoelectronics [3]

证券日报网讯2月2日，东山精密（002384）在互动平台回答投资者提问时表示，截至2026年1月30日， 公司股东总户数119317户。 ...

Investment Rating - The report provides a recommendation for the technology sector, specifically highlighting key stocks for February 2026 [6]. Core Insights - The report identifies several companies across different segments of the technology industry, including electronics, communications, computing, and media, suggesting a diversified investment approach [6]. - Key companies recommended include: - Electronics: Dongshan Precision, Lanke Technology - Communications: Wolong Materials, Haige Communications - Computing: Zhongkong Technology, Haiguang Information - Media: Kaiying Network, Giant Network [6]. Summary by Category Electronics - **Dongshan Precision**: Positioned for growth due to AI technology advancements, with a focus on optical communication and PCB sectors. The acquisition of Solstice Optoelectronics enhances its market position [9]. - **Lanke Technology**: Expected to benefit from the growth in AI servers and memory interface chips, with a projected increase in DDR5 penetration rates [10]. Communications - **Wolong Materials**: Strong in traditional materials and expanding into new energy products, with significant profit growth expected from 2025 to 2027 [10]. - **Haige Communications**: Focused on commercial aerospace and satellite communication, with anticipated profit recovery post-2025 [10]. Computing - **Zhongkong Technology**: Emphasizes industrial AI transformation, leveraging its self-developed industrial model TPT to enhance customer ROI and operational efficiency [11]. - **Haiguang Information**: A leader in high-end CPUs and DCUs, expected to see significant growth driven by domestic demand for AI computing [12]. Media - **Kaiying Network**: Anticipates new game launches in 2026, with a strong pipeline of products expected to drive revenue growth [13]. - **Giant Network**: Positive performance from existing games and new releases, with ongoing AI integration in gaming expected to enhance user engagement [13]. Financial Projections - The report includes earnings per share (EPS) and price-to-earnings (PE) ratios for the recommended companies, indicating expected growth in profitability from 2024 to 2027 [14].