HUAQIN TECHNOLOGY LTD A

Huaqin Technology announced that in the first half of 2026, it achieved operating revenue of 93.719 billion yuan, up 11.65% year on year; net profit attributable to shareholders of the listed company was 3 billion yuan, up 58.8% year on year; basic earnings per share were 2.07 yuan. During the reporting period, the company's business scale expanded and product shipments increased.

Huaqin Technology announced that as of July 31, 2026, the company had repurchased 260,000 shares, accounting for 0.0168% of total share capital, with a repurchase amount of 20.07 million yuan and a repurchase price range of 76.75 yuan to 80 yuan per share. In the first quarter of 2026, the company achieved revenue of 40.746 billion yuan and net profit attributable to the parent company of 1.061 billion yuan.

Shanghai-listed companies set a monthly record for new buyback and shareholding increase plans in July. As of July 31, a cumulative total of 89 new buyback plans were disclosed by Shanghai-listed companies, with a maximum buyback amount of nearly 20.4 billion yuan, and 67 new shareholding increase plans were disclosed, with a maximum amount of nearly 13.7 billion yuan. July's buyback and shareholding increase activities featured a high number of plans, market support intentions, and rapid purchases. Industrial capital was the main force, with private enterprises, central and state-owned enterprises, and other funds entering the market collectively. In terms of implementation progress, plan disclosures and executions were highly synchronized, with funds accelerating deployment in late July. Thirty companies, including COSCO Shipping Holdings and Huaqin Technology, quickly carried out their first buybacks after announcing their plans, while Olympic Circuit completed a buyback of nearly 300 million yuan in just two trading days.

Huaqin Technology announced that as of July 30, 2026, it had repurchased 260,000 shares, representing 0.0168% of total share capital, with a total repurchase amount of 20.07 million yuan, at a price range of 76.75 yuan to 80 yuan per share. In the first quarter of 2026, the company achieved revenue of 40.746 billion yuan and net profit attributable to the parent company of 1.061 billion yuan.

Huaqin Technology's actual controller Qiu Wensheng increased his holdings of the company's H-shares by 180,000 shares through the Hong Kong Stock Exchange, representing 0.0119% of total share capital, with a total consideration of HK$12.13 million. The shareholding increase plan has been completed. In the first quarter of 2026, Huaqin Technology achieved revenue of 40.746 billion yuan and net profit attributable to the parent company of 1.061 billion yuan.

Nexchip shareholder Huaqin Communications Hong Kong Limited increased its holdings in the company's H shares by 22.89 million shares through centralized bidding on the Hong Kong Stock Exchange between July 16 and July 24, 2026, accounting for 1.03% of the company's total share capital. Following this increase, Huaqin Technology Co., Ltd., Hefei Qinhe Electronic Technology Co., Ltd., and Huaqin Communications Hong Kong Limited together hold a total of 245 million shares in Nexchip, raising their combined shareholding to 11.03%. In the first quarter of 2026, Nexchip achieved revenue of 2.912 billion yuan and a net profit attributable to the parent company of 50.66 million yuan.

Huaqin Technology's wholly owned subsidiary Huaqin Communications acquired a total of 2 million H-shares of Nexchip through the Hong Kong Stock Exchange, representing approximately 0.09% of Nexchip's total issued share capital, for a total consideration of HK$65.77 million, or about HK$32.95 per share. After the acquisition, Huaqin Technology's shareholding in Nexchip increased to approximately 10.91%. In the first quarter of 2026, Huaqin Technology achieved revenue of 40.746 billion yuan and net profit attributable to the parent company of 1.061 billion yuan.

Huaqin Technology hit its daily limit up during trading, with the stock price reaching 87.67 yuan per share. The company stated during an investor event that super-node products represent a trend-setting product for data center development, and the company’s team anticipated this trend early and has continuously invested significant research and development resources. Currently, super-node products began small-batch shipments in the second quarter and will enter large-scale delivery starting in the third quarter. It is expected that revenue from the super-node product alone will exceed 10 billion yuan for the full year, and will maintain a high-speed growth trend over the next two years.

On the morning of July 22, the supernode concept heated up, with many stocks soaring. Gongjin shares hit the daily limit for consecutive days, achieving three boards in four days; Unisplendour secured two consecutive daily limits. Huaqin Technology hit the daily limit, and Ruijie Networks surged over 15%. Driven by associated benefits, many liquid-cooled server stocks performed brilliantly, with Shenglan and Tongfei rising over 10%, and Inspur Information climbing nearly 7%. At the just-concluded 2026 WAIC, major manufacturers launched supernode products one after another, making supernodes one of the most focused product directions. Huatai Securities' latest research suggests that supernodes are expected to become an important product form for domestic intelligent computing infrastructure, driving increased demand for high-speed interconnects and cabinet-level accessories.

On the evening of July 21, multiple listed companies on the Shanghai and Shenzhen exchanges released significant positive announcements. GigaDevice plans to use 500 million yuan of A-share raised funds to increase capital in its wholly-owned subsidiary Zhuhai Xincun, in order to implement a DRAM fundraising project. After the capital increase, Zhuhai Xincun's registered capital will change from 150 million yuan to 200 million yuan. The chairman of G-bits proposed a cash dividend of 100 yuan for every 10 shares for the first half of 2026. JinkoSolar will change the purpose of 29.7213 million repurchased shares from equity incentives to cancellation and reduction of registered capital. A controlled subsidiary of Lianchuang Co. plans to invest approximately 550 million yuan to build a project with an annual output of 12,000 tons of VDF and supporting industrial chain products. Huaqin Technology expects its annual revenue from super-node products alone to exceed 10 billion yuan. Yuanjie Technology expects net profit for the first half of the year to be between 600 million and 650 million yuan, a year-on-year increase of 1,196.91% to 1,304.98%. Zhongyi Technology expects net profit for the first half of the year to be between 150 million and 180 million yuan, a year-on-year increase of 879.55% to 1,075.46%. The chairman of Sungrow Power proposed a share buyback of 500 million to 1 billion yuan. The controlling shareholder of Weichai Power plans to increase its holdings of the company's A-shares by 200 million to 400 million yuan. A wholly-owned subsidiary of Kanghui Co. signed a computing power service contract, with an estimated total value of 415 million to 679 million yuan. Wuzhou Medical plans to acquire 100% equity of Xuanzhi Technology through the issuance of shares and cash payment, entering the motor control chip sector. The company's shares will resume trading on July 22. A concert party of a shareholder holding more than 5% of Dongwang Times increased its total holdings in the company by 1.08%.

StepFun will beat Doubao to market with the first AI agent phone, seizing an early lead in the AI hardware race. The device runs on StepFun’s self-developed underlying agent system and is manufactured by Huaqin Technology, a company listed on China’s A-share market. The launch event is set for July 13. In contrast, the second-generation Doubao AI phone, jointly developed by ByteDance and ZTE, was originally scheduled for release in the second quarter of this year but has yet to surface. The delay is reportedly due to the dual-filing review process for large language models.

Step Star will launch AI agent phones, with A-share listed company Huaqin Technology responsible for contract manufacturing. Sources say Huaqin Technology and Step Star have a deeply integrated partnership, not a simple OEM model. Huaqin Technology is a leading global ODM in smart hardware, with shipments of smartphones, laptops, and tablets exceeding 10% of the global total.