Core Insights - Qiang Brain Technology has completed approximately 2 billion yuan in financing, marking the second-largest funding round in the global brain-computer interface (BCI) sector, following Neuralink [1] - The investment round included prominent firms such as IDG Capital and Huaden International, as well as strategic investments from companies like Weir Shares and Runze Technology [1] - Qiang Brain Technology is recognized as one of the leading companies in the BCI field, having received FDA and CE certifications for its products and being one of the largest investors in BCI research and development globally [1] Company Overview - Founded in February 2015, Qiang Brain Technology originated from Harvard University's innovation lab and focuses on non-invasive BCI technology [1] - The company has launched several products, including smart bionic limbs and brain-machine intelligent sleep devices [1] - Qiang Brain Technology has undergone multiple funding rounds since 2016 and is considering an IPO in the Hong Kong or A-share market [1] Industry Perspective - Neuralink remains the leading company in the BCI sector with a valuation of 9 billion USD and plans to initiate large-scale production of BCI devices by 2026 [2] - The BCI technology is expected to transition from medical necessity to AI applications, indicating a potential commercialization phase starting in 2026 [2] - The A-share market has seen significant interest in BCI-related stocks, with companies like Innovation Medical and Aipeng Medical experiencing consecutive trading limit increases [2] Market Trends - The BCI market is currently in its early commercialization stage, with a focus on thematic investments [2] - There is a distinction between invasive and non-invasive technology paths, with some invasive products already approved for market release, while non-invasive technologies have a clearer commercialization path [2] - Scarcity in hardware and materials related to electrodes, chips, and membranes presents investment opportunities in the BCI sector [2]

中国证监会于1月5日披露，湖南长步道光电科技股份有限公司（以下简称"长步道"）已正式启动向不特 定合格投资者公开发行股票并在北京证券交易所上市的辅导备案，辅导机构为中金公司。 自2010年成立以来，长步道始终聚焦于技术要求较高的工业镜头业务，持续推进技术研发与产品创新。 目前，公司产品已成功应用于新能源、半导体、光伏、显示面板、3C电子等多个高端制造领域，助力 相关行业实现自动化检测、精密测量与智能识别，为客户提供高性价比的国产化光学解决方案。 此次启动北交所上市辅导，标志着长步道在调整资本市场路径后，继续借助证券化步伐加速发展，有望 进一步强化研发投入、扩大生产规模，提升在工业镜头领域的国产替代能力与市场竞争力。 值得关注的是，长步道此前曾冲刺科创板。公司于2023年6月30日递交科创板上市申请并获受理，但在 未回复首轮问询的情况下，于同年12月19日主动撤回申请，上市进程终止。此次转战北交所，公司表示 主要系基于战略规划调整及业务发展的综合考量。 作为国内工业镜头领域的领先企业，长步道深耕行业十余年，已形成涵盖标准工业镜头（FA镜头）、 线扫镜头（LS镜头）、大靶面镜头、远心镜头、特种工业镜头等在内的完整 ...

公司主要产品包括2至6英寸图形化蓝宝石衬底（PSS）和4至6英寸图形化复合材料衬底（MMS）。这些产品广泛应用于 Mini/Micro LED、汽车照明及车载显示、RGB直显、背光显示、照明等领域，并在氮化镓功率器件等前沿应用中日渐成熟。中 图科技是全球少数具备纳米级PSS及8英寸图形化衬底制造能力的企业之一，其小周期及复合材料结构产品已成功量产并广泛应 用于Mini/Micro LED等新型显示及车载领域。 上交所科创板近日正式受理了广东中图半导体科技股份有限公司（以下简称"中图科技"）的IPO申请。该公司是全球主要的图形 化衬底材料制造商之一，专注于氮化镓（GaN）外延所需的关键材料——图形化衬底的研发、生产与销售。 图形化衬底是氮化镓LED芯片的核心基础材料。中图科技通过运用光刻、刻蚀等半导体工艺，在衬底表面设计微结构，有效解 决了氮化镓异质外延中的晶格、光学及热匹配难题，从而提升LED芯片的性能与良率。公司技术积淀深厚，致力于支撑下游芯 片向高性能、低成本、多元化和微缩化方向发展。 本次IPO，中图科技拟募集资金10.5亿元，用于投资建设"Mini/Micro LED及车用LED芯片图形化衬底产业化项 ...

Group 1 - The core point of the article is that Xi'an Unisoc Microelectronics Co., Ltd. (referred to as "Unisoc") has officially initiated the IPO process on the Beijing Stock Exchange, with CITIC Securities as its advisory institution [1] - Unisoc has a history dating back to 2004, evolving through several significant changes, including its acquisition by Unisplendour Group in 2015 and the restructuring completed in 2022, which marked a new development phase for the company [1][3] - The company specializes in storage technology, offering a range of products and services, including standard storage chips, storage KGD, modules, custom high-bandwidth DRAM, and CXL controller chips, with over 80% of its workforce in R&D [1][2] Group 2 - Unisoc has over ten years of experience in the memory field, particularly in DRAM, with capabilities spanning product definition, circuit and layout design, and testing support, resulting in over twenty chip and forty module products in global mass production [2] - The company has developed high-bandwidth, large-capacity 3D DRAM chips and AI chips based on three-dimensional integration technology, targeting emerging markets in artificial intelligence and big data [2] - The ownership structure shows that Beijing Unisplendour Storage Technology Co., Ltd. holds 59.63% of the shares, indicating that the IPO will help Unisoc strengthen its R&D and industrialization capabilities in the storage chip and high-end integrated circuit design sectors [3]

Core Viewpoint - Pengding Holdings reported a significant increase in revenue for December 2025, with a total consolidated revenue of 424,355 million yuan, representing a year-on-year growth of 30.74% [2] Group 1: Company Overview - Pengding Holdings is a professional large-scale manufacturer specializing in the research, design, production, and sales of various PCB products, offering a diverse range of high-quality PCB product lines [2] - The company has the capability to provide comprehensive PCB electronic interconnection products and services to different customers [2] Group 2: Financial Performance - The reported revenue of 424,355 million yuan for December 2025 marks a substantial increase of 30.74% compared to the same month last year [2] Group 3: Strategic Focus - The company has indicated its commitment to closely monitor downstream technology trends and will focus on five key areas: new products, new technologies, new processes, new materials, and new equipment [2] - Pengding Holdings aims to concentrate on critical common technologies and cutting-edge product technologies to stay ahead of product development trends [2]

Core Viewpoint - The announcement reveals that the controlling shareholder and actual controller of Tonghui Information, Dai Fuhao, has had 16 million shares frozen due to a legal dispute with a strategic investor, which could potentially lead to a change in control of the company if the shares are disposed of [2][3]. Group 1: Shareholder Information - Dai Fuhao holds a total of 36.150653 million shares, representing 18.14% of the company's total share capital, all of which are subject to sales restrictions [3]. - The 16 million shares that are frozen account for 8.03% of the company's total share capital and are all limited shares with no unrestricted shares involved [2]. Group 2: Legal Context - The judicial freeze is effective from December 31, 2025, to December 30, 2028, and has been registered with the China Securities Depository and Clearing Corporation [2]. - The freeze is a result of a loan agreement dispute between Dai Fuhao and Beijing Lisheng Keli Technology Co., Ltd., which led to a property preservation application filed in the Haidian District People's Court [2].

Group 1 - The company announced a change in its project plan for the annual production of 300,000 tons of lithium battery electrolyte and the dismantling and recycling of 100,000 tons of iron lithium batteries, optimizing the construction content and investment amount [3] - The original project plan approved in May 2022 had a total investment of 1.33 billion yuan, with construction investment of 505.85 million yuan and working capital of 825.97 million yuan [3] - The project scale for lithium battery electrolyte production has been adjusted from 300,000 tons to 250,000 tons, and the dismantling and recycling project has been canceled [4] Group 2 - The new total investment for the adjusted project is not to exceed 600 million yuan, with the specific amount depending on actual construction conditions [4] - The construction period for the project is set at 20 months, with the final timeline to be determined based on actual investment and construction progress [4] - Once fully operational, the project is expected to generate an average annual revenue of 3.67 billion yuan and an average annual net profit of 180.02 million yuan [4]

Core Viewpoint - The company, TaoTao Automotive, forecasts a significant increase in net profit for the year 2025, with both net profit attributable to shareholders and net profit after deducting non-recurring gains and losses expected to grow by over 85% year-on-year [2][3]. Financial Performance Summary - The projected net profit attributable to shareholders for 2025 is estimated to be between 800 million yuan and 850 million yuan, representing a year-on-year increase of 85.5% to 97.1% from 431.26 million yuan in the previous year [3]. - The net profit after deducting non-recurring gains and losses is expected to be between 789 million yuan and 839 million yuan, reflecting a year-on-year growth of 87.54% to 99.42% from 420.71 million yuan in the previous year [3]. Reasons for Growth - The company attributes its substantial profit growth to a precise focus on market demand, enhanced operational efficiency, accelerated overseas capacity construction, increased brand influence, and the active development of diversified sales channels [4]. - Additionally, the impact of non-recurring gains and losses on the net profit attributable to shareholders is estimated to be approximately 11 million yuan for the year 2025 [4].

据悉，此次拟分拆的业务将通过分拆公司——宁波舜宇智行科技股份有限公司（目前为舜宇光学附属公司）运营，核心聚焦车载相关光学领域，主要提供 车载镜头及车载模组等一系列先进光学产品。根据公告内容，若建议分拆得以推进，将构成上市规则第15项应用指引所定义的分拆事项，且可能触发上市 规则第14章项下的须予公布交易。值得注意的是，分拆完成后，分拆公司仍将为舜宇光学的附属公司，舜宇光学将继续在其账目内合并分拆公司的财务业 绩。 时间线显示，舜宇光学已于2025年11月7日根据上市规则第15项应用指引，向联交所递交了有关建议分拆及独立上市的提案。截至本公告日期，该等提交 文件仍在等待联交所的审议，建议分拆尚需满足第15项应用指引及上市规则其他相关规定的要求。 舜宇光学在公告中表示，建议分拆具有商业利益，符合公司股东的整体利益。不过，公司同时发出警告，建议分拆的落实取决于多项因素，包括相关监管 部门的批准、董事会及公司股东的最终决定（如有必要）、市场状况及其他适用考虑因素，目前并无保证建议分拆将会落实或具体落实时间。 1月5日，舜宇光学发布内幕消息公告，宣布为推动车载相关光学业务的快速发展，公司正考虑分拆该业务并在香港联合交易 ...

其中，新能源汽车成为核心增长引擎。12月新能源汽车产量55,970辆，同比激增67.06%；全年累计产量473,735辆，累计同比增长10.31%。销量端表现更为 强劲，12月新能源汽车销量60,981辆，同比增长63.4%；全年累计销量472,269辆，累计同比增长10.63%，持续领跑公司业务增长。 作为新能源汽车板块的主力，赛力斯汽车12月产量48,606辆，同比大幅增长89.76%；全年累计产量432,331辆，累计同比增长10.52%。销量方面，12月赛力 斯汽车销量53,733辆，同比增长77.99%；全年累计销量430,401辆，累计同比增长10.52%，产销同比均实现高速增长，成为公司业绩增长的核心支柱。 其他车型方面，12月产量1,812辆，同比下降69.35%；全年累计产量44,411辆，累计同比下降33.69%。销量方面，12月销量2,732辆，同比增长34.58%；全年 累计销量44,591辆，累计同比下降36.41%。 2026年1月6日，赛力斯发布2025年12月份产销快报。12月整体产量达57,782辆，同比增长46.6%；全年累计产量518,146辆，累计同比增长4.37%。销 ...