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interface news reporter | yin jingfei

going back on your words?dingxin communicationsdo you have any business dealings with huawei?

on september 20, as a hongmeng concept stock,dingxin communications（603421.SH）the stock hit the daily limit again, and now the stock has hit the daily limit 4 times in 7 days.

dingxin communicationsit was listed in 2016. the actual controllers are zeng fanyi and wang jianhua. the company is registered in qingdao city. its main business is power line carrier communication chips and centralized meter reading system products.

behind the surge in stock prices,dingxin communicationsi got on the hongmeng concept stocks.

july 22the companyinteractive easy reply: the company is currently cooperating with huawei to develop a smart integrated terminal project based on the core board. huawei's star flash and hongmeng systems are also used by the company as localized technologies in power system products. the company has developed terminals and meter products based on huawei's hongmeng system.

on august 2, the company disclosed again:we are working closely with huawei to jointly develop a core board-based intelligent converged terminal project. in addition, dingxin communication also uses huawei's star flash and hongmeng systems as important components of localized technology and applies them to power system products. dingxin communication has developed terminals and electric meter products based on huawei's hongmeng system.。

recently, huawei's three-fold screen mobile phone has once again swept the circle of friends, and the already "red" hongmeng concept stocks and huawei concept stocks have risen again.

after getting on the hongmeng concept stocks, dingxin communicationsstock prices and market capitalization soared.on july 21, the company's stock closed at 4.3 yuan per share, and on september 20, it closed at 6.1 yuan per share, an increase of more than 40%. the market value increased from 2.8 billion yuan to 4 billion yuan.

however, in terms of performance,dingxin communicationspresentit is obviousthe downward trend has led to losses in 2024.the company achieved attributable net profit of -48.648 million yuan in the first half of this year.

behind the huge loss in performance, due to a bribe of 1.85 million yuan,dingxin communications alsoblacklisted by the state grid.

winning bids for state grid has always been the company's core business.in the 2023 financial report, dingxin communications mentioned that during the reporting period, according to the statistical results of the winning bids of state grid and china southern power grid,the company's products ranked among the top three among all the winning companies, making it a first-tier company in the industry.。

among them, dingxin communication's winning bid amount in the state grid system (including subsidiaries at all levels) in 2022 was 1.67 billion yuan (tax included), of which the revenue confirmed in 2022 was approximately 480 million yuan, accounting for 15% of the company's operating income in 2022, and the revenue confirmed in 2023 was approximately 950 million yuan. the company obtained approximately 1.45 billion yuan from the state grid system in its 2022 operating income, accounting for 47% of the operating income of the year.

in 2023, dingxin communication won a bid of 1.609 billion yuan (including tax) in the state grid system, of which the revenue confirmed in 2023 was approximately 610 million yuan, accounting for 17% of the company's operating income in 2023. the company obtained approximately 1.70 billion yuan from the state grid system in 2023, accounting for 47% of the operating income of the year.

on march 29 this year, dingxin communications suddenly announced: "the company received a notice from the state grid on february 27, 2024. due to the suspected violations of the company, it was decided to start the bidding and procurement 'fuse mechanism' for all procurement categories of the company from february 18, 2024, and to initiate an investigation into the company's suspected violations."

dingxin communications was blacklisted by the state grid for two years，from february 23, 2024 to february 22, 2026, it includes bidding and procurement of all categories in the state grid system.

in addition, dingxin communications and its subsidiaries qingdao dingxin communications electric power engineering co., ltd. and qingdao dingxin communications technology co., ltd. received a blacklist warning from china southern power grid co., ltd. on july 29, 2024. the warning period and final processing results are not yet determined.

this will hit the company hard.according to previous announcements, dingxin communications estimated that based on the amount of bids it won and revenue it confirmed in the state grid system in the past two years,the penalty will cause the company's operating income to drop by about 3.3 billion yuan in the next 4-5 years. among them, the company's revenue will be reduced by about 550 million yuan in 2024, about 1.42 billion yuan in 2025, and about 980 million yuan in 2026.

earlier, in an interview with jiemian news, a person from the company's securities department said, "according to current regulations, after the ban is lifted in 2026, the company can immediately bid and quickly supply goods. however, it is not ruled out that some policies will change two years later, and it is still unclear whether it can continue to participate in bidding."

hot money was extremely active in the stock price movement of dingxin communication. on september 20, the sales department seats on the dragon and tiger list had a total transaction volume of about 80.4 million yuan, accounting for 18.56% of the total transaction volume on that day. among them, the purchase amount was 56.76 million yuan, and the net purchase amount exceeded 33.1 million yuan. well-known hot money appeared on the dragon and tiger list, and zhang mengzhu (guotai junan securities co., ltd. shanghai jiangsu road securities sales department) had a net purchase of 4.55 million yuan

some stockholders said in the stock bar that being blacklisted by the state grid had a great impact on the company's performance! in short, be careful. it's just a short-term speculation recently. once it comes down, it will be difficult to be trapped for a long time!

regarding this, a listed company's secretary told jiemian news:everyone is speculating on concepts and does not care whether the concept stocks are real or fake. the market needsdingxin communications is wearing a crown of huawei concept, whether it is true or false, so that they can take advantage of the opportunity to act. "