Core Viewpoint - The wind power industry in China is experiencing significant growth, with installed capacity expected to reach 640 million kW by the end of 2025, marking a 22.9% year-on-year increase, positioning the country as a global leader in wind energy [1]. Group 1: Company Overview - Zhenhong Heavy Industry (Jiangsu) Co., Ltd. is a key supplier of wind turbine main shafts in China, benefiting from the continuous increase in downstream installation capacity [1]. - The company has been deeply engaged in the wind power main shaft sector for 20 years, developing a complete product matrix covering various specifications from 1.5MW to 9.5MW [4]. - Zhenhong has established long-term partnerships with leading wind turbine manufacturers such as Envision Energy and Siemens Energy, with wind power main shaft sales expected to account for 60.15% of total revenue in 2024 [5]. Group 2: Financial Performance - The company has shown consistent revenue and profit growth, with projected revenues of 1.327 billion yuan in 2025, a 16.81% increase year-on-year [1][6]. - The net profit attributable to the parent company is expected to reach 139.41 million yuan in 2025, reflecting a substantial 36.60% growth [8]. - Cash flow from operating activities is projected to improve significantly, reaching 119.58 million yuan in 2025, indicating the sustainability of the company's growth [10]. Group 3: Industry Trends - The wind power sector is transitioning towards market-driven growth, with policies promoting competitive pricing for new energy projects [11]. - The average capacity of newly installed onshore wind turbines has increased from 1.8MW in 2014 to 5.9MW in 2024, indicating a trend towards larger wind turbines that require higher specifications for main shafts [12]. - The company has secured orders worth 458 million yuan for wind power main shafts, with a significant portion for high-capacity models [13]. Group 4: Expansion Plans - To address production capacity constraints, the company plans to use IPO proceeds to expand its production capabilities, including a project to increase annual output of high-quality forgings by 35,000 tons [15]. - The company is also actively pursuing overseas markets, with new orders from Southeast Asia and Europe following the acquisition of CE certification [16]. - Zhenhong is enhancing its internal control systems and governance to support long-term growth and ensure compliance with information disclosure regulations [16]. Group 5: Future Outlook - If the company successfully goes public, it will not only enhance its own growth but also contribute to the upgrade of the industry chain and promote the domestic manufacturing sector's self-sufficiency [17]. - The expansion of production capacity will directly support China's carbon neutrality goals, achieving a win-win for corporate growth, industry advancement, and sustainable development [17].

Group 1 - The article discusses the warning issued by the Chongqing Securities Regulatory Bureau against Zhongxi Accounting Firm and its accountants for deficiencies in the audit of Chongqing Meiansen Technology Co., Ltd.'s 2024 financial report [1][3][4] - Key audit issues identified include inadequate substantive procedures related to revenue recognition, accounts receivable impairment testing, and the accuracy of reported operating costs and selling expenses [4][5] - The firm failed to maintain proper control over certain confirmations and did not execute necessary procedures for discrepancies found in confirmations [4][5] Group 2 - In terms of fundraising, the audit procedures did not adequately address certain abnormal samples, leading to the failure to detect that some raised funds were used for non-project purposes [5][6] - The actions of the accounting firm violated several Chinese auditing standards and regulations, including the overall objectives and basic requirements of audit work [6] - The Chongqing Securities Regulatory Bureau decided to issue a warning letter and record this in the integrity file of the securities and futures market, emphasizing the need for improved quality control and compliance with auditing standards [6][7]

文/梧桐晓编 2月11日，上交所发布《关于对湖南麒麟信安科技股份有限公司及相关责任人予以公开谴责的决定》、 《关于对保荐代表人高骜旻、马睿予以监管警示的决定》、《关于对签字律师莫彪、邓争艳、黎雪琪予 以监管警示的决定》、《关于对签字会计师闫磊、曾春卫、冯俭专予以监管警示的决定》。湖南麒麟信 安科技股份有限公司曾向上海证券交易所申请科创板IPO。该IPO项目保荐机构为中泰证券、高骜旻、 马睿为保荐代表人；法律服务机构为湖南启元律师事务所，签字律师为莫彪、邓争艳、黎雪琪、审计机 构为天职国际会计师事务所（特殊普通合伙）、签字会计师为闫磊、曾春卫、冯俭专。 | 关于对湖南麒麟信安科技股份有限公司及相关责任人予以公开谴责的决定 | 2026-02-11 | | --- | --- | | 关于对签字律师莫彪、邓争艳、黎雪琪予以监管警示的决定 | 2026-02-11 | | 关于对签字会计师闫磊、曾春卫、冯俭专予以监管警示的决定 | 2026-02-11 | | 关于对保荐代表人高整昱、马睿予以监管警示的决定 | 2026-02-11 | 一、 发行人、中介机构违规情况 根据申报文件，A1 单位是麒麟信安报告期内第一 ...

工业车辆，泛指能够对成件托盘类货物进行装卸、堆垛和短距离运输、重物搬运作业的各种轮式搬运车 辆。其中，机动工业车辆俗称叉车，是现代物流与制造业不可或缺的物料搬运设备。在"双碳"战略持续深化 的背景下，全球工业车辆正加速向电动化转型，而叉车则是其中电动化渗透率最高的品类。 在此背景下， 河南嘉晨智能控制股份有限公司 （以下简称"嘉晨智能"）即将于2月12日迎来北交所上市审 议。公司主要从事电气控制系统产品及整体解决方案的研发、生产和销售，其主要产品是新能源工业车辆 的核心零部件之一，决定着新能源工业车辆性能、效率与安全性。凭借过硬的技术实力与产品口碑，嘉晨 智能已成功切入杭叉集团、安徽合力、比亚迪等国内外龙头企业供应链，在进口替代浪潮与行业电动化趋 势下，正迎来业绩与估值的双重增长机遇。 电动化浪潮孕育核心机遇，自主创新突破外资壁垒 叉车工业历史悠久，发轫于美国，是支撑现代物流与制造业高效运转的关键设备，广泛应用于批发零售、 制造业、仓储物流等核心领域，其市场景气度与经济活跃度紧密相连。我国工业车辆行业虽起步稍晚，但 经过多年奋起直追，自2009年起已连续稳居全球第一大叉车生产国和消费市场。 按动力源划分，叉车 ...

文/梧桐兄弟 2月11日，常州市龙鑫智能装备股份有限公司IPO申请获得北交所上市委审核通过。 | 单位：万元 | | --- | | | 北交所 | | | | | | --- | --- | --- | --- | --- | --- | | 公司简称 | 主营业务 | 2024年营收 | 2024年净利润 | 审核结果 | 保荐/律所/审计 | | 龙鑫智能 | 纳米高端复合材料制 备设备及自动化生产 | 60,435.73 | 10,590.44 | 通付 | 中信建投/锦天城/ 大健 | | | 线 | | | | | 注：净利润为扣非归母净利润 常州市龙鑫智能装备股份有限公司 主要从事微纳米高端复合材料制备设备及自动化生产线的研发、生 产、销售和服务。公司控股股东为莫铭伟，实际控制人为莫铭伟、莫龙兴、金桂华,三人合计控制 62.3242%股份的表决权。报告期内，公司营业收入分别为 33,616.24 万元、58,230.16 万元、 60,435.73万元和 33,989.71 万元，扣非归母净利润分别为7,101.21万元、13,736.52万元、 10,590.44万元和6,107.31万元。 ...

文/梧桐小编 2月9日，上交所就《上海证券交易所发行上市审核规则适用指引第6号——轻资产、高研发投入认定标 准（征求意见稿）》公开征求意见。为更大力度支持科技创新，推动上市公司高质量发展，上交所修订 了《上海证券交易所发行上市审核规则适用指引第6号——轻资产、高研发投入认定标准》。现向社会 公开征求意见，意见反馈截止时间为2026年2月16日。上交所同时发布该《认定标准》的修订说明。 本次主要修订内容如下： 一是新增主板上市公司"轻资产"和"高研发投入"认定标准。结合科创板试点经验和主板市场实际情 况，明确沪市主板上市公司"轻资产"认定标准为实物资产占总资产比重不高于20%；沪市主板上市公 司"高研发投入"认定标准为最近三年平均研发投入占营业收入比例不低于15%，或者最近三年累计研 发投入不低于3亿元且最近三年平均研发投入占营业收入比例不低于5%。 二是设置负面情形。明确上市公司股票被实施退市风险警示或者其他风险警示的，再融资募集资金用于 补充流动资金和偿还债务的比例不得超过募集资金总额的30%。 三是其他内容。原《6号指引》第十一条规定募集资金变更后的用途不符合监管要求的，应当在本次再 融资时调减募集资金。 ...

Core Viewpoint - The Xiamen Securities Regulatory Bureau issued a warning letter to Tianjian Accounting Firm and its certified public accountants due to inadequate audit procedures in the financial report of Huamu Yigou Technology Co., Ltd for the 2023-2024 fiscal year [1][2]. Group 1: Audit Issues - Inadequate execution of revenue audit procedures was identified, where the firm failed to obtain sufficient and appropriate audit evidence such as sales contracts and delivery notes for certain revenue [1][2]. - The audit of accounts receivable was also insufficient, with a specific case where the firm fully provisioned for bad debts without considering a subsequent settlement agreement that reduced the amount owed from 430,000 yuan to 375,000 yuan [3][4]. - The firm did not obtain the settlement agreement during the audit and failed to monitor the subsequent collection of receivables, leading to erroneous audit adjustments [4][5]. Group 2: Regulatory Actions - The actions of Tianjian Accounting Firm were found to violate the relevant regulations of the Chinese Certified Public Accountant Auditing Standards and the Non-Listed Public Company Supervision Management Measures [5]. - The responsible accountants, including Tu Pengfang, Zhong Xiaolian, and Wang Bingbing, were held primarily accountable for the firm's violations and were issued a warning letter, which will be recorded in the securities market integrity archive [5]. - The firm is required to submit a rectification report within 20 working days of receiving the decision [5].

北交所官网显示， 常州市龙鑫智能装备股份有限公司 （以下简称 "龙鑫智能"）将于2月11日迎来IPO上会审 议。公开资料显示，公司主要从事 超细粉体尤其是微纳米高端复合材料的制备装备及自动化生产线 的研 发、生产、销售和服务，下游覆盖为新能源、精细化工、食品医药、资源再生利用等行业。 双赛道深耕，硬科技铸就高端底气 龙鑫智能创立于 2001年，早期专注于为油墨涂料等传统行业提供 研磨设备 。 2012年前后，面对新能源市 场的蓬勃兴起，公司敏锐把握历史机遇，成功切入新能源电池材料装备领域。 能够同时赢得如此多行业龙头的青睐，是龙鑫智能深厚技术实力、卓越产品质量与高效服务水平的综合体 现，也充分印证了其在行业内的标杆地位。 作为应用最广泛的锂电池正极材料， 磷酸铁锂的颗粒细腻程度直接影响着电池的放电速度、容量、寿命等 关键性能 。彼时，国内超细粉体研磨干燥设备的发展远落后于海外企业。为满足迅猛增长的新能源电池市 场对高品质纳米级磷酸铁锂粉末的需求，国内材料企业不得不依赖昂贵的进口设备，与国际巨头合作。 洞察到这一市场空白，龙鑫智能果断转型， 通过自主研发推出了高效再循环超精细珠磨机 。该设备利用锆 珠等研磨介质 ...

文/梧桐小编 2月9日，上交所、深交所、北交所推出优化再融资一揽子措施。一是进一步支持优质上市公司支持力度； 二是提升再融资灵活性、便利度；三是加强再融资全过程监管。四是三个交易所根据自身板块定位推出的 针对性措施： 上交所：更好适应科技创新企业再融资需求。研究推出交易所主板上市公司"轻资产、高研发投入"认定标 准。优化再融资间隔期要求，按照未盈利标准上市且尚未盈利的科技型上市公司再融资，前次募集资金基 本使用完毕或未改变募集资金投向的，前次募集资金到位日6个月后，可以启动再融资预案公告等程序。存 在破发情形的上市公司，可以通过竞价定增、发行可转债等方式合理融资，募集资金需投向主营业务。 深交所：提高对科技创新企业的包容性适应性。存在破发情形的上市公司，可以通过竞价定增、发行可转 债等方式合理融资发展主营业务。优化按照未盈利标准上市且尚未盈利的科创企业再融资间隔期要求，前 次募集资金基本使用完毕或未改变募集资金投向的，前期募集资金到位满6个月，可启动新一轮再融资。研 究推出交易所主板上市公司"轻资产、高研发投入"认定标准，放宽募集资金补流比例限制。 北交所：提高对创新型中小企业再融资的制度包容性。存在破发情形 ...

随着国内互联网经济的飞速发展，电子商务已深度融入大众生活，强力驱动着快递业务的扩张。2024年，我国快 递业务量达到1745亿件，业务收入高达1.4万亿元。海量的快递包裹带来了对包装纸的巨大需求，作为纸箱"骨 架"与"外衣"，瓦楞纸与箱板纸的需求也随着物流与消费的增长而持续攀升。中国造纸协会数据显示，2024年中国 瓦楞纸消费量达3407万吨，同比增长4.13%；箱板纸消费量3582万吨，同比增长4.80%。 在此背景下， 安徽林平循环发展股份有限公司 （股票代码：603284，简称"林平发展"）将于2月10日成功登陆上 交所主板。这家扎根安徽的造纸企业，凭借115万吨的年产能稳居省内行业领先地位，更以独特的绿色循环发展路 径，在传统造纸行业中开辟出一条差异化竞争之路。 聚焦核心赛道，产能区位构筑双重壁垒 造纸及纸制品业作为现代经济的重要支柱，被公认为永不衰竭的行业，其中包装用纸是规模最大的细分领域。瓦 楞纸与箱板纸因应用广泛，稳居包装用纸细分品类的前两位。据中国造纸协会统计，2024 年中国纸和纸板行业细 分产品中，瓦楞原纸产量达到3,134万吨，箱板纸产量达到3,035万吨，产量居于纸和纸板产量的前两名。 ...