Avary Holding Shenzhen Co Ltd Class A

Avary Holding hosted research visits from 221 institutional investors this week, making it one of the most visited A-share companies by institutions. A total of 72 listed companies received institutional research visits this week, with six companies hosting more than 100 institutions, and Avary Holding and Ninebot receiving over 200. Avary Holding's research and development expenses in the first half of the year reached 1.597 billion yuan, an increase of more than 500 million yuan year on year, with the proportion of operating revenue rising to 9.28 percent. The company's communications board business achieved revenue of 10.048 billion yuan, down 2.15 percent year on year, while gross margin rose 3.96 percentage points to 19.94 percent. The consumer electronics and computer board business achieved revenue of 4.742 billion yuan, down 8.36 percent year on year, while gross margin rose 1.02 percentage points to 25.54 percent. The automotive and server board business achieved revenue of 2.267 billion yuan, up 181.58 percent year on year, with AI server business revenue approaching 1 billion yuan and a gross margin of 37.42 percent for the segment. The company's overall gross margin was 23.82 percent, up 5.08 percentage points year on year. Avary Holding said its high-end HDI products have entered the AI server market and passed certification from mainstream server and cloud service providers, its SLP products have entered the 800G and 1.6T high-end optical module market and begun mass production and shipment, and its 3.2T products have entered the research and development stage. In the first half of the year, the optical module business achieved sales revenue of 626 million yuan, an increase of 11 times year on year.

G-bits disclosed that in the first half of 2026 it achieved operating revenue of 3.727 billion yuan, up 48.01% year on year, and net profit attributable to the parent of 1.092 billion yuan, up 69.31% year on year, and plans to distribute a cash dividend of 100 yuan, tax included, for every 10 shares. On the same day, Avary Holding's first-half AI server PCB revenue approached 1 billion yuan, and high-speed optical module PCB revenue exceeded 600 million yuan. Jifeng Auto Parts received a nomination for a passenger car seat assembly project, with an estimated total life-cycle value of 2.12 billion yuan. SMIC's second-quarter overall sales revenue reached 3 billion US dollars, up 20% quarter on quarter. In addition, Grace Fabric Technology's first-half net profit rose 334.32% year on year. Dalian Thermal Power's first-half net profit was 50.135 million yuan, turning from a loss to a profit year on year. BGE and its subsidiary jointly won a 500 million yuan solid waste treatment project in Vietnam.

Pengding Holdings released its 2026 semi-annual report, achieving a net profit attributable to shareholders of the listed company of 1.284 billion yuan, a year-on-year increase of 4.11%. The company's operating revenue for the same period was 17.217 billion yuan, up 5.14% year-on-year. During the reporting period, the company's automotive and server board business achieved operating revenue of 2.267 billion yuan, a significant year-on-year increase of 181.58%, of which AI server business revenue was nearly 1 billion yuan and optical module business revenue exceeded 600 million yuan, both achieving substantial growth. The gross profit margin of this segment reached 37.42%, demonstrating good profitability.

Pengding Holdings announced that its consolidated operating revenue for July 2026 was 3.201 billion yuan, an increase of 6.61% year-on-year. In the first quarter of 2026, the company achieved revenue of 7.986 billion yuan and net profit attributable to the parent company of 463 million yuan.

Xinrui Shares' acquisition of Huilian Electronics has reached a substantive milestone. The company has completed the first payment under the equity purchase agreement, and all legacy issues such as the pledge of the target equity and related-party debts have been fully resolved. Huilian Electronics will be formally consolidated into the company's financial statements starting in August. Huilian Electronics specializes in the field of precision cutting tools for printed circuit boards, mastering core technologies such as mature ultra-fine micro-drills and diamond coatings. Its customers include leading PCB manufacturers like Avary Holding and Shennan Circuits, and it is a significant beneficiary of the industry boom in high-end circuit boards for AI servers. This acquisition is a core strategic move for Xinrui Shares to expand its electronic precision consumables business, with strong synergies with the company's existing cemented carbide main business. The market also views this acquisition as an important step for the company to open up a second growth curve. According to the acquisition agreement, Xinrui Shares paid 79.6528 million yuan in special release funds to the seller Xu Meihua on July 30. The seller settled the corresponding debts on the same day and simultaneously completed all procedures for the cancellation of the equity pledge. Currently, the target equity is free from any rights restrictions such as mortgages, pledges, or freezes. Meanwhile, all related-party debts have been fully settled, with the main sellers—Henan Jiurixu Enterprise Management Company, Xu Meihua, and Li Lingxiang—instructing Xinrui Shares to pay the target company from the equity transfer payments they are due to receive. Currently, the transaction parties are handling relevant tax and industrial and commercial registration change procedures.

Pengding Holdings announced plans to invest in a new third campus in Shenzhen, building an AI high-end substrate-like PCBs and flexible circuit board smart manufacturing base project. The total investment is expected to be 10 billion yuan, with construction starting in July 2026 and production commencing by 2033. The announcement noted that this investment is an important move to accelerate the company's high-end PCB product production layout and further improve its strategic layout across the AI cloud, pipe, and device chain. In the first quarter of 2026, Pengding Holdings achieved revenue of 7.986 billion yuan and net profit attributable to the parent company of 463 million yuan.

Puya Semiconductor released its half-year performance forecast, estimating net profit attributable to parent company owners for the first half of 2026 at approximately 825 million yuan, a year-on-year increase of 1,925.36%. The company said it benefited from global AI computing infrastructure build-out, with simultaneous improvements in volume and pricing for general-purpose memory chips, while new analog products such as MCUs and drivers gradually penetrated industrial control and AIoT sectors and achieved scale shipments. ChangXin Memory Technologies announced it will list on the STAR Market on July 27, with an issue price of 8.66 yuan per share and total post-IPO share capital of 66.881 billion shares. Yunnan Lincang Xinyuan Germanium Industry's controlling subsidiary Yunnan Xinyao signed an indium phosphide wafer supply agreement, with an estimated total contract value of 570 million to 855 million yuan, accounting for 53.48% to 80.23% of the company's 2025 audited revenue. Avary Holding plans to invest 10 billion yuan to build a third Shenzhen campus, constructing an AI high-end substrate-like PCB and flexible circuit board intelligent manufacturing base project. Longsys's controlling shareholder proposed a share buyback of 400 million to 800 million yuan for equity incentives or employee stock ownership plans.

On the evening of July 23, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important positive announcements. Yunnan Germanium's holding subsidiary Yunnan Xinyao signed an indium phosphide wafer supply agreement, with an estimated total contract value of 570 million to 855 million yuan, accounting for 53.48% to 80.23% of the company's 2025 annual revenue, and deliveries will be made in batches from August 2026 to the end of 2027. Hongjing Optoelectronics plans to issue convertible bonds to raise no more than 630 million yuan for research and industrialization projects including diversified application lens modules. Pengding Holdings plans to invest 10 billion yuan to build a new third campus in Shenzhen, constructing an intelligent manufacturing base for high-end AI-related substrate-like PCBs and flexible circuit boards, with construction scheduled to start in July 2026 and be completed and put into production by 2033. Zhongyuantong's wholly-owned subsidiary Weipo plans to invest 10 million yuan of self-raised funds to build an energy storage PACK production line, expected to complete commissioning by the end of September 2026. Taijing Technology stated on an interactive platform that its high-frequency products have been supplied in batches to some optical module, server, and data center customers. Minmetals New Energy expects a net profit of 340 million to 400 million yuan in the first half of 2026, turning from a loss to a profit year-on-year, mainly due to the rapid development of the new energy vehicle and energy storage industries and a significant increase in product sales. Jiangbolong's chairman proposed to repurchase shares worth 400 million to 800 million yuan for equity incentives or employee stock ownership plans. Xingye Technology's wholly-owned subsidiary Jiangsu Xingguang acquired the indium phosphide substrate manufacturing and sales business of Qingdao Li'ang for 55 million yuan in cash. The business has total assets of 17.0246 million yuan, net assets of 6.3704 million yuan, revenue of 2.3438 million yuan in the first five months of this year, a net loss of 1.4409 million yuan, and orders on hand not exceeding 2 million yuan, with an expected minimal impact on current profits. Montage Technology plans to repurchase shares worth 300 million to 600 million yuan, with a repurchase price not exceeding 332.90 yuan per share, to maintain company value and shareholder equity. Redboard Technology's wholly-owned subsidiary Ganzhou Redboard plans to invest no more than 5 billion yuan to build an industrialization project for high-end mSAP precision circuit boards, and also plans to invest no more than 300 million yuan to construct Building D1 and auxiliary facilities. The company itself also plans to invest no more than 700 million yuan for technical transformation and capacity expansion of high-precision HDI circuit board production lines.

Longsys expects net profit of 9.2 billion to 11 billion yuan in the first half of 2026, a year-on-year increase of 62,204% to 74,394%, mainly benefiting from the global semiconductor storage industry upcycle, rising downstream demand and the renewal of wafer supply agreements. Hangzhou Cable expects first-half net profit of 360 million to 400 million yuan, up 852% to 958% year-on-year, as optical fibre sales grew with the industry recovery. Dongyue Silicone expects first-half net profit of 424 million to 444 million yuan, up 905% to 952% year-on-year, as higher silicone product prices and lower raw material costs boosted gross margins. Huafu Fashion expects first-half net profit of 160 million to 200 million yuan, up 538% to 697% year-on-year, with order recovery and investment income of about 160 million yuan. CECport expects first-half net profit of 500 million to 530 million yuan, up 176% to 193% year-on-year, as rising prices of core products such as memory drove revenue growth. Avary Holding plans a private placement to raise no more than 9.6 billion yuan for AI server and high-speed optical module high-density interconnect build-up board projects, with total investment of 12.73 billion yuan. Tinci Materials subsidiary Nantong Tinci terminated its annual 243,000-tonne lithium battery and fluorine-containing new materials project, originally planned with an investment of 2.654 billion yuan, due to industry supply-demand mismatch and market changes. PowerTECH plans to acquire all equity of Northstar Technologies Limited for 10 million US dollars to fill the gap in its storage testing business. Dynamic Power has suspended trading since 6 July due to a planned change of control. Gotion High-tech's wholly-owned subsidiary generated a profit of 829 million yuan from selling shares of Tongguan Copper Foil in the first half. Grace Fabric's second and third largest shareholders together reduced their holdings by 8.7503 million shares. Changsheng Bearing, Reach Machinery, Yibin Paper, Riying Electronics, Zhongzhong Technology and Foresight Technology each issued abnormal movement announcements regarding concepts such as robotics, electronic skin and commercial aerospace, noting that related business revenue proportions are extremely low or no orders have been formed. Shenhao Technology plans to purchase servers for no more than 2 billion yuan to carry out computing power leasing. JPT Opto-electronics plans to acquire all equity of NEOPTICS for 1.12 million Singapore dollars. Yunnan Energy Investment plans to invest in the construction of a 100-megawatt, 400-megawatt-hour all-vanadium liquid flow independent shared energy storage project in Lijiang. East Money contributed 200 million yuan to participate in the Yunfeng Yuancheng private equity fund. Seagull Cooling's controlling shareholder plans to reduce holdings by no more than 3%. Hanbang Technology shareholders Shanghai WuXi and Qingke Zhisheng plan to reduce their combined holdings by no more than 3%. EVE Energy plans to opportunistically reduce its holding of no more than 3.5% of Smoore International shares. ST Niya expects first-half net profit to increase by 1,017% to 1,523% year-on-year. Zhongjin Lingnan expects first-half net profit to increase by 88% to 115% year-on-year. Digital China won the bid for a major state-owned bank's Huawei intelligent computing server procurement project, with an estimated amount of 371 million yuan. Times New Material signed wind turbine blade sales contracts worth 3.034 billion yuan in the second quarter. Jiangsu Huachen signed a 221 million yuan energy storage converter booster integrated machine sales contract. Naipu Mining Machinery signed a 76 million yuan mineral processing equipment supply contract. Sunho Biologics plans to raise no more than 240 million yuan for nucleic acid drug platform construction. Hybio Pharmaceutical's semaglutide injection weight loss indication marketing application was accepted. Changchun High-Tech subsidiary's GenSci164 injection clinical trial application was approved. Yunnan Germanium's deputy general manager Pu Shikun resigned.