Uni-Trend Clarifies: VNA Products Lack Testing Capability for Reported Application Scenarios

1. Xingyun Technology: Subsidiary Signs RMB 872 Million Intelligent Computing Resource Lease Contract

Xingyun Technology announced that its wholly-owned subsidiary, Changsha Xiangshuyun Technology Co., Ltd., has signed an Intelligent Computing Resource Lease Service Contract with a VE client. Under the agreement, Xiangshuyun will provide computing services over a five-year term, with a total contract value of RMB 872 million (including tax). Revenue will be recognized in installments due to the long contract duration. The company noted potential risks of履约 failure if either party experiences operational changes or financial deterioration. The corresponding servers have been procured and are currently undergoing acceptance inspection. Delivery to the VE client is expected to be completed by September 30, 2026. If the contract proceeds smoothly, it is expected to have a certain positive impact on the company's future operating performance.

2. Huatong Shares: Vice General Manager Zhu Wenwen Subject to Compulsory Measures by Public Security Bureau

Huatong Shares announced that on September 23, 2026, the company learned that Vice General Manager Zhu Wenwen had been subjected to compulsory measures by the Jiaojiang Branch of the Taizhou Public Security Bureau on September 22. The case is currently under investigation. The company has not received any notification from the public security authorities, and the matter has not had a material adverse impact on daily operations.

3. Yibo Technology: Plans to Invest Up to RMB 800 Million in Phase II PCB Plant in Zhuhai, Focusing on Mid-to-High-End PCB Mass Production

Yibo Technology announced that its wholly-owned subsidiary, Zhuhai Yibo Electronics, plans to invest in a Phase II PCB plant project. The investment will primarily cover production machinery and equipment. Based on current capacity planning, the total additional investment is approved at no more than RMB 800 million. Phase II will focus on mid-to-high-end PCB products for mass production, serving clients in high-value-added sectors. The combined capacity of Phase I and Phase II is expected to cover the majority of target customers' needs, from R&D to large-scale PCB production.

4. Sidike: Plans to Invest RMB 1.652 Billion in Annual 103,000-Ton High-End Functional BOPET Base Film Expansion Project

Sidike announced that its board of directors has approved a proposal for its wholly-owned subsidiary, Jiangsu Xingyuantai New Material Technology Co., Ltd., to invest in and construct an annual 103,000-ton high-end functional BOPET base film expansion project. The total investment is estimated at RMB 1.652 billion, funded by自有 and self-raised capital. The project will be located in Sihong, Jiangsu. It will mass-produce multiple series of high-end functional BOPET base materials, including MLCC release film base film and polarizer release protective film base film. Products will primarily serve downstream sectors such as microelectronics MLCC manufacturing, specialty optical devices, precision PCB circuits, smart terminal protection, automotive and building energy-saving window films, and industrial precision protection.

5. Hangyang Shares: Plans to Invest RMB 50 Million in Star Ring Fusion, Gaining Substantive Access to Controlled Nuclear Fusion

Hangyang Shares announced that it plans to invest jointly with Zhejiang Hangqi Power Technology Group Co., Ltd. and other investors in Shanghai Star Ring Fusion Technology Co., Ltd. ("Star Ring Fusion"). The company will contribute RMB 50 million, acquiring a 0.66% equity stake in Star Ring Fusion. Through this investment, Hangyang Shares can substantively participate in the controlled nuclear fusion field, gain in-depth exposure to existing fusion technology pathways, and conduct targeted R&D on key nodes common to its existing business. This move aims to help the company explore new markets and investment opportunities in the nuclear fusion sector.

Risk Alert for Volatile Stocks

• Uni-Trend: The company's vector network analyzer (VNA) has a maximum frequency coverage of 9 GHz and currently lacks the testing capabilities required for the application scenarios described in certain reports.

Share Buybacks & Stake Changes

1. Jingjiwei: Plans to repurchase shares worth between RMB 130 million and RMB 260 million.
2. Biyi Shares: Controlling shareholder plans to reduce holdings by no more than 3%.
3. Debang Technology: Actual controller and persons acting in concert plan to collectively reduce holdings by no more than 3%.
4. VeriSilicon: Executive Vice President Wang Zhiwei plans to reduce holdings by no more than 31,000 shares.

Major Contracts Signed

1. Sanxing Electric: Subsidiary signs a contract for a U.S. data center energy storage oil-immersed transformer project, valued at approximately RMB 885 million.
2. Tongji Technology: Wholly-owned subsidiary, as part of a consortium, wins a commercial housing project bid worth RMB 810 million.
3. Jianghe Group: Wholly-owned subsidiary wins a curtain wall project contract in the UAE valued at AED 174 million.
4. Jinshi Yayao: Subsidiary signs a RMB 30 million R&D contract for mask plate coating equipment.