证券日报网讯 2月26日，奥迪威发布公告称，公司2025年实现营业收入683413117.61元，同比增长 10.73%；归属于上市公司股东的净利润93443322.47元，同比增长6.60%；基本每股收益0.66元，同比增 长6.45%。 （文章来源：证券日报） ...

Company Developments - In December 2025, the company announced securing an overseas project from a leading intelligent driving system integrator, with a total contract value of 176 million yuan, expected to start mass production and delivery in December 2026, with a lifecycle of three years. This project's implementation will directly impact the company's overseas expansion in the smart automotive sector [2] - The company plans to invest 54.8 million USD to build a new factory in Malaysia focused on the research and production of smart sensors and actuators, with a construction period of four years. The progress of this construction and subsequent capacity release in 2026 will be crucial [3] - On January 8, 2026, the company released a draft for an employee stock ownership plan involving 48 core employees, with a lock-up period of 14 months. The performance assessment targets for the company are a sales volume and net profit growth rate of no less than 12% compared to 2025. The impact of this plan on team stability and performance targets should be monitored [5] Strategic Initiatives - On November 27, 2025, the company submitted a listing application to the Hong Kong Stock Exchange, aiming to establish a dual capital platform ("A+H"). The progress of the Hong Kong Stock Exchange's review and the role of raised funds in supporting overseas business should be closely observed [4] Industry Context - In 2026, major automotive companies like BBA are accelerating their electrification and intelligent layout in China, such as Audi's collaboration with Huawei to integrate advanced intelligent driving systems. As a supplier of vehicle-mounted sensors, the company needs to focus on deepening cooperation with downstream automotive manufacturers and securing orders [6] - The company's new products, including intelligent server liquid cooling flow sensors, are currently in the customer testing phase, and the progress of their mass application in 2026 is noteworthy [7]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for overseas listing applications from 15 companies, focusing on compliance with foreign investment policies and operational legality [1][2][3]. Group 1: Supplementary Material Requirements - For Kid Wang, the company must clarify the start date and specifics of its value-added telecommunications services, foreign ownership limits, and compliance with foreign investment policies post-listing [5]. - For Qianli Technology, the company needs to provide updates on the transfer of shares related to the agreement with Lifan Holdings and confirm compliance with the Shanghai Stock Exchange [9]. - For Nanjing Qingtian, the company is required to align its listing plan with regulatory guidelines and disclose details about significant litigation [14]. Group 2: Compliance and Legal Opinions - For Zhenqu Technology, the company must explain the legality of shareholding arrangements and provide a list of past capital increases and share transfer prices, ensuring no irregularities exist [24]. - For Dafeng Gardening, the company needs to justify the establishment of a new listing entity in the Cayman Islands and confirm compliance with foreign investment reporting obligations [38]. - For Chengyi Biology, the company must clarify the shareholding structure and any potential changes in control, as well as the implications of special shareholder rights [40]. Group 3: Business Operations and Models - For Kid Wang, the company is required to describe its business model and the specific applications of AI large models [6]. - For Qianli Technology, the company must detail its business operations, including data processing and whether it complies with foreign investment restrictions [10]. - For Nanjing Qingtian, the company is asked to explain its involvement in AI large models and the operational status of its online platforms [15].

Group 1 - The core event involves a block trade of Audiwei (stock code: 920491) on January 29, 2026, with a closing price of 27.54 yuan per share [1][2] - The transaction involved 200,000 shares, resulting in a total transaction amount of 5.508 million yuan, indicating a flat price trade with a premium/discount of 0.00% [1][2] - The buying brokerage was Huachuang Securities Co., Ltd. from the Kaili Beijing East Road branch, while the selling brokerage was also Huachuang Securities Co., Ltd. from the Kaili Ningbo Road branch [1][2]

Core Viewpoint - The article discusses the growth and export trends of China's instrumentation manufacturing industry, highlighting a modest increase in export value and providing insights into future market developments based on a report by Zhiyan Consulting [1]. Group 1: Industry Overview - By December 2025, the total export value of China's instrumentation manufacturing industry is projected to reach 17.4 billion, reflecting a year-on-year growth of 0.6% [1]. - Cumulatively, the export value for the entire year of 2025 is expected to be 169.05 billion, with a year-on-year increase of 5% [1]. Group 2: Market Research - Zhiyan Consulting has released a report titled "2026-2032 China Instrumentation Market Supply and Demand Forecast and Future Development Trends," indicating ongoing research and analysis in the industry [1]. - The report emphasizes the importance of deep industry research and tailored consulting services for investment decision-making [1].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for six companies, including Audiwei, regarding their overseas fundraising compliance and investment purposes [1] Group 1: Regulatory Requirements - The CSRC has requested Audiwei to clarify the compliance of its overseas investment related to the fundraising [1] - Audiwei is required to provide a legal opinion from its lawyers regarding its business scope and compliance with relevant regulations [1] - The CSRC has specifically asked Audiwei to explain its business operations related to "technology import and export" and whether it has completed necessary approval or filing procedures for its overseas investments [1] Group 2: Company Overview - Audiwei focuses on providing intelligent sensing and precision micro-execution solutions for various scenarios involving artificial intelligence and the physical world [2] - The company is currently concentrating on four core solution areas: smart home solutions, smart automotive solutions, smart terminal solutions, and smart manufacturing solutions [2] - The smart home and smart automotive solutions form the foundation of Audiwei's current business [2]

Group 1 - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for six companies, including Audiwei, regarding compliance for overseas fundraising and investments [1] - Audiwei is preparing to list on the Hong Kong Stock Exchange, with China Merchants Securities International as its sole sponsor [1] - The CSRC has requested Audiwei to clarify the compliance of its overseas investment related to the fundraising, including necessary approvals and whether its business operations fall under restricted foreign investment sectors [1] Group 2 - Audiwei focuses on providing intelligent sensing and precision micro-execution solutions for various scenarios in smart homes, smart cars, smart terminals, and smart manufacturing [2] - The company currently emphasizes four core solution areas: smart home solutions, smart car solutions, smart terminal solutions, and smart manufacturing solutions, with smart home and smart car solutions forming the basis of its business [2]

Core Viewpoint - The report highlights the growth of the instrument manufacturing industry in China, indicating an increase in the number of enterprises and their contribution to the overall industrial sector [1]. Industry Summary - As of January-November 2025, the number of enterprises in the instrument manufacturing industry reached 7,682, which is an increase of 364 compared to the same period last year, representing a year-on-year growth of 4.97% [1]. - The instrument manufacturing sector accounts for 1.46% of the total industrial enterprises in China [1]. Company Summary - The report mentions several listed companies in the instrument manufacturing sector, including Chuangyuan Xinke (831961), Aodiwei (832491), Tonghui Electronics (833509), Haineng Technology (430476), Xinzheng Biological (430685), Bikang Instruments (830879), Tiangang Co., Ltd. (832651), Chicheng Co., Ltd. (834407), and Laisai Laser (871263) [1].

Core Insights - The automotive industry in China has made significant progress in 2025, with a focus on stability and quality improvement, driven by a series of proactive policies and a shift towards value and innovation in competition [2][3] Group 1: Industry Performance - New energy vehicle (NEV) production and sales are expected to exceed 15 million units in 2025, with domestic sales accounting for over 50% of total automotive sales [3][4] - The total automotive production and sales reached approximately 31.2 million units in 2025, with NEVs making up 50.3% of domestic sales [3] - Automotive exports are projected to reach a record 7 million units in 2025, with NEV exports doubling year-on-year [5][7] Group 2: Regulatory Environment - The Chinese government has implemented unprecedented measures to address "involution" in the automotive industry, including new regulations and guidelines to maintain fair competition [8][9] - A comprehensive "Stability Growth Work Plan" was introduced to support the automotive industry, aiming for a 3% increase in total automotive sales and a 20% increase in NEV sales in 2025 [10][11] Group 3: Corporate Developments - The establishment of China Changan Automobile Group marks the formation of a new structure in the state-owned automotive sector, alongside other major state-owned enterprises [12][13] - Numerous automotive companies have listed or applied for listing on the Hong Kong Stock Exchange, reflecting the industry's robust growth and the need for strategic investment [20][21] Group 4: Technological Advancements - The release of two major technical roadmaps for intelligent connected vehicles and energy-saving NEVs outlines the development goals and timelines for the next 5 to 15 years [14][15][16] - The first L3-level autonomous driving vehicles have received approval for road use, marking a significant milestone in the commercialization of autonomous driving technology [17][18] Group 5: Market Expansion - The implementation of export licensing for pure electric passenger vehicles is expected to promote healthy development in NEV trade and enhance regulatory oversight [19] - The automotive industry is positioned as a key driver of the new technological revolution and industrial transformation, contributing significantly to the national economy [22][23]

Core Viewpoint - Audiwei announced the convening of the fourth extraordinary shareholders' meeting on December 25, 2025, to discuss the reappointment of the accounting firm for the fiscal year 2025 and the purchase of liability insurance for directors and senior management [2] Group 1 - The extraordinary shareholders' meeting is scheduled for December 25, 2025 [2] - The agenda includes the proposal for the reappointment of the accounting firm for the year 2025 [2] - The agenda also includes a proposal for purchasing liability insurance for directors and senior management [2]