More Than 100 Institutions Survey These Stocks; Haid Group (002311) Rallies Against the Market

Preface

Institutional research can offer a window into how companies view orders, production capacity, costs, and market conditions. In the week from October 24 to 30, more than 270 listed companies received institutional surveys, and several attracted more than 100 institutions apiece. Victory Giant Technology, Eoptolink Technology, Sanhua Intelligent Controls, Jingfang Optoelectronics, and Chuangxin Data were among the most closely followed. Their disclosures covered expanding demand for optical and printed-circuit-board products, efforts to secure materials and increase capacity, and contractual terms for service orders. Meanwhile, the share-price performance of heavily surveyed stocks was generally weak, but Haid Group (海大集团, 002311) moved sharply in the opposite direction. This article organizes the reported survey findings and market movements, preserving the figures and company statements provided in the source.

Lazy bag

More than 270 stocks were surveyed during the week from October 24 to 30. Victory Giant Technology led with 301 participating institutions, while Eoptolink Technology, Sanhua Intelligent Controls, Jingfang Optoelectronics, and Chuangxin Data also drew more than 100 institutions. Companies described strong customer demand, capacity expansion, and preparation for future deliveries. In contrast, the surveyed stocks fell by an average of more than 7% during the week. Haid Group (海大集团, 002311) gained more than 13% after 161 institutions surveyed it. The central contrast is between growing business demand at several companies and a broadly weak share-price backdrop.

Main Body

Institutional research activity was broad, but concentrated attention went to companies discussing capacity and customer demand. More than 270 stocks received institutional surveys during the week from October 24 to 30. Victory Giant Technology (胜宏科技) attracted the largest number of institutions, with 301 participants. The group included 32 securities firms, 77 fund companies, and 112 private-equity institutions, among others. Eoptolink Technology (新易盛), Sanhua Intelligent Controls (三花智控), Jingfang Optoelectronics (水晶光电), and Chuangxin Data (协创数据) also each received surveys from more than 100 institutions.

Victory Giant Technology reported revenue of 18.461 billion yuan for the first three quarters of 2026, up 30.77% year over year. Net profit excluding non-recurring items was 3.694 billion yuan, a year-over-year increase of 13.74%. In the third quarter, revenue reached 6.831 billion yuan, up 34.3% year over year and 11.81% quarter over quarter. Net profit excluding non-recurring items was 1.276 billion yuan, increasing 16.16% year over year and 9.99% quarter over quarter. Gross margin was 34.17%, an improvement of 2.06 percentage points from the previous quarter. The company attributed the margin improvement mainly to higher product prices and said its overall profitability was gradually improving.

In its survey responses, Victory Giant Technology said demand next year from major North American customers and application-specific integrated circuit (ASIC) customers was very strong. The combined demand from the two customer groups was described as substantial and had slightly exceeded the company’s current capacity. To meet customer orders, the company plans to bring additional capacity online in stages during the first half and around the middle of next year. The company’s comments connect its near-term investment plans directly to customer demand, while also indicating that current production capacity is becoming a constraint.

The company said its modified semi-additive process (mSAP) capacity was already fully booked by customers, with orders and shipments stable. It is planning two additional factories dedicated to mSAP, with a combined planned annual output value of approximately 20 billion yuan. The facilities are expected to begin coming on stream and ramping up from 2027. According to the company, the mSAP production lines use leading equipment, workshop designs, and infrastructure solutions, supporting favorable yields and ramp-up performance.

Victory Giant Technology also outlined activity at its overseas facilities. Thailand’s A1 building reached full production in the fourth quarter of this year. The main construction work on Thailand’s A2 building was complete, and capacity there is expected to be released gradually next year. Construction of the main part of the Vietnam project was largely complete, with some capacity also expected to begin production next year. In its overall capacity schedule, the company identified domestic Plants 10 and 11 as the main sources of incremental capacity next year, alongside the two planned mSAP factories, Thailand’s A2 building, and Phase One of the Vietnam project.

Eoptolink Technology described a separate challenge: tight supplies of raw materials. The company said supply constraints this year affected materials broadly rather than a single item. As industry delivery volumes have risen rapidly, lead times for core materials have lengthened further, making early planning important. Eoptolink said it had made thorough preparations for order deliveries in the fourth quarter and next year and was confident it could meet a substantial increase in delivery demand. It expects production capacity and output to increase significantly in the fourth quarter. Capacity expansion is progressing quickly and in parallel in Chengdu and Thailand, and the company said it remained optimistic about next year’s market.

Chuangxin Data discussed the termination provisions in a major contract it had previously disclosed. Under the stated terms, unless the contract specifies otherwise, the customer may unilaterally terminate the contract and/or all or part of the orders under it that have entered the service period, at any time, by giving the company at least 10 days’ written notice. For orders already in the service period, the customer must pay a penalty equal to 100% of the fees for the unperformed portion of the service associated with the orders it proposes to terminate. If that penalty does not fully compensate the company for its losses, the customer must also pay additional compensation. The disclosure describes the contractual protections applicable to those orders; it does not, by itself, indicate that a termination has occurred.

Looking further ahead, Zhongji Innolight (中际旭创) said industry demand remained strong as it looked toward 2027. Orders from its major customers had largely covered 2027, and the company had not seen customers cancel orders or reduce their demand guidance for that year. It expects demand for 800G and 1.6T products to continue growing rapidly in 2027. Demand for next-generation optical interconnect products, including NPO and XPO, is expected to begin emerging gradually in the second half of next year. The company said it was actively preparing materials and production capacity to support a stronger ramp-up in 2027.

Despite the strong operational outlook reported by several companies, the share-price results for the heavily surveyed group were weak on average. Stocks that received surveys from more than 100 institutions fell by an average of more than 7% during the week. Haid Group, Luolai Lifestyle (罗莱生活), and Livzon Pharmaceutical Group (丽珠集团) were notable exceptions, each rising by more than 5% against the market’s direction.

Haid Group (海大集团, 002311) received surveys from 161 institutions during the week and rose by more than 13%. In its survey responses, the company said pig farming was undergoing a capacity-reduction process. If prices recover in the future, farmers’ willingness to raise livestock may improve. In aquaculture, some species had already experienced a relatively thorough reduction in capacity, and prices were gradually recovering. These comments point to differing conditions across the company’s livestock and aquaculture businesses, with price recovery and producer participation presented as relevant factors.

Luolai Lifestyle said it actively sought to reward shareholders and had maintained a policy of high cash dividends. It said it would continue to follow a stable and sustained dividend policy, create value, and return it to shareholders who had supported the company. Livzon Pharmaceutical Group said it expected the decline in revenue in 2026 to be broadly in line with the first half, with the possibility of a modest narrowing. It expected the decline in profit to narrow further, bringing the year-over-year profit trend closer to the revenue trend. Improvement from the second quarter to the third quarter was described as support for a narrower full-year profit decline.

Taken together, the survey comments highlight several distinct themes: demand visibility and production expansion at technology suppliers, longer procurement lead times for key materials, contractual provisions that govern service-order cancellations, and gradual recovery in selected agricultural markets. The share-price figures add an important qualification: positive company-level updates did not translate into broad gains for the surveyed stocks during the week. Haid Group’s advance was therefore especially notable against the group’s average decline. These disclosures reflect company statements made during institutional surveys and should be read as reported expectations and conditions, rather than guarantees of future results.

Key Insights Table