Summary of Key Points Core Viewpoint - In the past month, 62 companies listed on the Beijing Stock Exchange (BSE) have been investigated by institutions, with Audiwei being the most notable, attracting 65 participating institutions [1]. Group 1: Institutional Research - A total of 62 BSE companies were subject to institutional research, with 65 institutions participating in the research of Audiwei, making it the most focused company [1]. - The types of institutions conducting research include 62 brokerages, 48 funds, 42 private equity firms, 24 insurance companies, and 5 overseas institutions [1]. - The companies receiving institutional research belong to 17 different industries, with a concentration in machinery equipment (14 companies), basic chemicals (8 companies), and electronics (8 companies) [1]. - Far航精密 had the highest frequency of institutional research, receiving 3 investigations, while Audiwei, 海达尔, and 同力股份 were each investigated 2 times [1]. Group 2: Market Performance - The average stock price of the companies that received institutional research declined by 1.80% over the past month, with 21 companies experiencing price increases [2]. - The top gainers included 开特股份 (up 53.42%), 贝特瑞 (up 36.79%), and 德瑞锂电 (up 15.11%) [2]. - The average daily turnover rate for the researched companies was 6.26%, with the highest turnover rates recorded for 盖世食品 (20.64%), 武汉蓝电 (15.96%), and 吉冈精密 (12.82%) [2]. - As of September 22, the average market capitalization of all BSE companies was 3.294 billion yuan, while the average market capitalization of the researched companies was 4.679 billion yuan [2]. Group 3: Company-Specific Data - Audiwei (832491) had 65 institutions participating in its research, with a closing price of 34.06 yuan and a price increase of 6.27% [2]. - 海达尔 (836699) had 64 institutions involved, closing at 65.62 yuan with a 6.70% increase [2]. - 远航精密 (833914) was researched by 59 institutions, with a closing price of 37.31 yuan and a 4.95% increase [2]. - 同力股份 (834599) had 55 institutions participating, closing at 19.74 yuan with a decline of 22.59% [2]. - Other notable companies include 贝特瑞 (15 institutions, 31.42 yuan, up 36.79%) and 开特股份 (25 institutions, 46.15 yuan, up 53.42%) [2][3].

Group 1 - In the past month (from August 20 to September 19), 70 companies listed on the Beijing Stock Exchange (BSE) were investigated by institutions, with Naconor being the most popular, receiving attention from 114 institutions [1] - The types of institutions conducting the investigations include 70 from brokerages, 57 from funds, 49 from private equity, 33 from insurance, and 8 from overseas institutions [1] - The companies investigated belong to 17 different industries, with a concentration in machinery equipment, basic chemicals, and electronics, having 15, 10, and 10 companies respectively [1] Group 2 - The average stock price of the investigated BSE companies fell by 2.06% over the past month, with 23 companies experiencing price increases, notably KAIT and Better Ray, which rose by 53.42% and 34.50% respectively [2] - The average market capitalization of all BSE companies is 3.317 billion yuan, while the average market capitalization of the investigated companies is 4.617 billion yuan [2] - The companies with the highest market capitalization among those investigated include Better Ray, Shuguang Digital Innovation, and Tiangong Co., Ltd. [2] Group 3 - Naconor had the highest number of institutional investigations at 114, followed by Kelong New Materials with 67, Audiwei with 65, and Haidar with 64 [1] - Companies like Yuji Co. and Far航 Precision received the most frequent investigations, with 3 investigations each [1] - The average daily turnover rate for the investigated companies was 6.29%, with Gais Food, Wuhan Blue Electric, and Jiyang Precision leading with turnover rates of 20.17%, 15.12%, and 12.46% respectively [2]

Group 1 - In the past month (from August 13 to September 12), 70 companies listed on the Beijing Stock Exchange (BSE) received institutional research, with Naconor being the most popular, attracting 114 participating institutions [1] - The types of institutions conducting research include 70 brokerages, 59 funds, 53 private equity firms, 36 insurance companies, and 8 overseas institutions [1] - The companies that received the most attention after Naconor are Kelong New Materials, Audiwei, and Haidar, with 67, 65, and 64 participating institutions respectively [1] Group 2 - The average stock price of the companies that received institutional research increased by 6.28% over the past month, with 48 stocks rising, including Better Battery, Shuguang Digital Innovation, and Haineng Technology, which rose by 46.84%, 45.58%, and 45.33% respectively [2] - The average market capitalization of all companies on the BSE is 3.385 billion yuan, while the average market capitalization of the companies that received research is 4.565 billion yuan [2] - The companies with the highest market capitalization among those researched include Better Battery, Shuguang Digital Innovation, and Tiangong Co., Ltd. [2] Group 3 - Among the companies that received institutional research, Yujie Co. had the highest frequency of research with 3 times, while Kelong New Materials, Audiwei, and Haidar were researched 2 times each [1] - The industries with the most companies receiving research include machinery equipment, basic chemicals, and electronics, with 16, 9, and 9 companies respectively [1]

Group 1 - In the past month (from August 12 to September 11), 68 companies listed on the Beijing Stock Exchange (BSE) were investigated by institutions, with Naconor being the most notable, receiving attention from 114 institutions [1] - The types of institutions conducting the research included 68 brokerages, 57 funds, 53 private equity firms, 36 insurance companies, and 8 overseas institutions [1] - The companies that received the most institutional attention after Naconor were Kelong New Materials, Audiwei, and Haidar, with 67, 65, and 64 institutions participating in their investigations, respectively [1] Group 2 - The average stock price of the companies investigated by institutions increased by 7.06% over the past month, with 46 stocks rising, including Shuguang Shuchuang, Better Energy, and Haineng Technology, which saw increases of 63.42%, 53.97%, and 44.79% respectively [2] - The average market capitalization of all companies on the BSE was 3.43 billion yuan, while the average market capitalization of the companies that were investigated was 4.66 billion yuan [2] - The companies with the highest market capitalization among those investigated included Better Energy, Shuguang Shuchuang, and Development Technology [2] Group 3 - The most frequently investigated company was Youji Co., which was researched 3 times, while Kelong New Materials, Audiwei, and Haidar were each investigated 2 times [1] - The industries with the most companies investigated included machinery equipment, basic chemicals, and electronics, with 15, 9, and 9 companies respectively [1]

Market Performance - The home appliance components sector rose by 2.73% on September 11, with Haidar leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Individual Stock Performance - Haidar (83669) closed at 61.95, up 7.50% with a trading volume of 15,700 and a turnover of 95.0046 million [1] - Hanzi Group (300403) closed at 16.83, up 6.59% with a trading volume of 594,300 and a turnover of 970 million [1] - Hongchang Technology (301008) closed at 33.50, up 5.48% with a trading volume of 107,200 and a turnover of 34.6 million [1] - Kangsheng Co. (002418) closed at 4.39, up 4.77% with a trading volume of 1.3 million and a turnover of 564 million [1] - Haili Co. (600619) closed at 20.91, up 4.13% with a trading volume of 616,400 and a turnover of 1.268 billion [1] - Sanhua Intelligent Control (002050) closed at 34.76, up 3.76% with a trading volume of 2.0824 million and a turnover of 7.099 billion [1] Capital Flow Analysis - The home appliance components sector saw a net inflow of 294 million from institutional investors, while retail investors experienced a net outflow of 2.85 billion [2] - The main stocks with significant net inflows include Sanhua Intelligent Control (2.90 billion) and Kangsheng Co. (70.7798 million) [3] - Notable outflows were observed in Hanzi Group (-6500.53 million) and Kangsheng Co. (-7727.49 million) from retail investors [3]

Investment Rating - The report maintains a positive outlook on the mid-term market performance of the Beijing Stock Exchange, indicating a "structural opportunity" in the market [3][4]. Core Insights - The market showed resilience with a trading volume of 37.96 billion yuan on September 4, 2025, an increase of 5.94 billion yuan from the previous trading day. The North Exchange 50 Index closed at 1538.98, down 0.80%, with a PE_TTM of 75.35 times [1][7]. - Among the 274 companies listed on the North Exchange, 191 saw an increase in stock prices, while 82 experienced declines. The top five gainers included Hongyu Packaging, Tianhong Lithium, Lijia Technology, Runpu Food, and Hongzhi Technology, each rising by 30% or more [1][16]. - The report highlights the strong performance of specialized and innovative companies in the new energy materials sector, as well as the resilience of consumer service companies [3]. Summary by Sections Market Review - On September 4, 2025, the North Exchange A-share trading volume reached 37.96 billion yuan, up 5.94 billion yuan from the previous day. The North Exchange 50 Index closed at 1538.98, down 0.80%, with a PE_TTM of 75.35 times. The specialized and innovative index closed at 2666.79, down 1.16% [1][7]. Important News - The Ministry of Industry and Information Technology and the State Administration for Market Regulation announced an action plan to boost the electronic information manufacturing industry, aiming for a revenue growth rate exceeding 5% by 2026 and a server industry scale exceeding 400 billion yuan [2][19]. - The State Council aims for the sports industry to exceed 7 trillion yuan by 2030, fostering world-class sports enterprises and events [2][20]. Key Company Announcements - Haomiao Technology announced the acquisition of a patent for a high-flow multifunctional smoke exhaust device, enhancing its competitive edge [2][21]. - Biyang Technology announced the lifting of restrictions on 45,000 shares, accounting for 0.0261% of its total share capital [2][22]. - Boshun Biological reported using 16 million yuan of idle funds to purchase structured deposit products with an expected annual yield of 1.64% [2][23].

国联民生证券承销保荐有限公司 关于无锡海达尔精密滑轨股份有限公司 2025 年半年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》《北京证券交易所股票上市规则》 等有关法律法规、规范性文件等的规定,国联民生证券承销保荐有限公司(以下 简称"保荐机构""国联民生保荐") 作为无锡海达尔精密滑轨股份有限公司（以 下简称"海达尔"或"公司"）的保荐机构,负责无锡海达尔精密滑轨股份有限 公司的持续督导工作,并出具 2025 年半年度持续督导跟踪报告。 一、持续督导工作概述 (一) 审阅公司信息披露文件情况 保荐机构对海达尔报告期内的信息披露文件及时进行了审阅,公司向交易所 提交的信息披露文件不存在虚假记载、误导性陈述或重大遗漏。 (二) 督导公司建立健全并有效执行规则制度情况 保荐机构已督导海达尔建立健全规章制度(包括但不限于重大信息内部报告 制度、募集资金管理制度、舆情管理制度、关联交易管理制度）。报告期内,公 司相关规章制度有效执行。 (三) 募集资金使用监督情况 保荐机构每月一次对海达尔募集资金专户进行查询,核查公司募集资金是否 存在违规使用情况。2025年半年度,海达尔募集资金项目进展与信息披露文件 ...

证券代码：836699 证券简称：海达尔 公告编号：2025-093 无锡海达尔精密滑轨股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 （投资者线上交流会） 二、 投资者关系活动情况 活动时间：2025 年 9 月 3 日 活动地点：上海浦东丽晶酒店 参会单位及人员：上海合远私募基金管理有限公司、上海岙夏投资管理有限 公司、乾惕投资、国海证券股份有限公司、浦银安盛、中泰证券股份有限公司、 兴业证券股份有限公司、国元证券股份有限公司、首创证券股份有限公司、国投 证券、上海滦海投资管理有限公司、华鑫证券有限责任公司、悦溪投资、红塔证 券股份有限公司、江海证券、利幄基金。（排名不分先后） 上市公司接待人员：董事会秘书朱丽娜女士 三、 投资者关系活动主要内容 问题 1：公司的产品主要应用场景有哪些？ 回答：现阶段，公司滑轨产品的应用场景已覆盖家电、服 ...

证券代码：836699 证券简称：海达尔 公告编号：2025-092 无锡海达尔精密滑轨股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 √其他 （投资者线上交流会） 二、 投资者关系活动情况 活动时间：2025 年 8 月 27 日至 2025 年 8 月 28 日 活动地点：线上会议 参会单位及人员：国泰海通证券投资部、西部证券股份有限公司、民生证券 股份有限公司、联储证券股份有限公司、平安证券股份有限公司、开源证券股份 有限公司、第一创业证券股份有限公司、渤海证券股份有限公司、浙商证券股份 有限公司、北信瑞丰基金管理有限公司、九泰基金管理有限公司、光大保德信基 金管理有限公司、中天汇富基金管理有限公司、朝景投资管理有限公司、泰石投 资管理有限公司、尚诚资产管理有限责任公司、国晖投资有限公司、冰剑投资管 理有限公司、胤胜资产管理有限公司、颐歌资产管 ...

Investment Rating - The investment rating for the company is "Outperform" (maintained) [3] Core Views - The company is focusing on the rapidly growing liquid cooling server market and has introduced new high-value server rail products, which are expected to drive growth [5][6] - The company's revenue for the first half of 2025 was 182 million yuan, a decrease of 0.75% year-on-year, while the net profit attributable to the parent company was 33.05 million yuan, an increase of 3.79% year-on-year [5] - The company maintains its profit forecast for 2025-2027, expecting net profits of 94 million, 108 million, and 124 million yuan respectively, with corresponding EPS of 2.05, 2.36, and 2.71 yuan per share [5] Financial Summary - The total market value of the company is 2.58 billion yuan, with a circulating market value of 1.18 billion yuan [3] - The company's gross profit margin for the first half of 2025 was 28.64%, an increase of 2.05 percentage points year-on-year [5] - The company is projected to achieve a compound annual growth rate (CAGR) of 46.8% in the liquid cooling server market from 2024 to 2029, with the market size expected to reach 16.2 billion USD by 2029 [6] Product Development and Market Position - The company is actively developing new products in the liquid cooling and heavy-duty server rail segments, with five main types of rail products currently available [6] - The automated production base and R&D center are expected to be completed by April 2026, enhancing the company's production capabilities [7] - The company has received three patent authorizations in the first half of 2025, indicating a commitment to innovation [7]