北交所定期报告 20260315 证券研究报告·北交所报告·北交所定期报告 石油或面临严重工业梗阻，市场情绪承压 2026 年 03 月 15 日 [Table_Tag] [Table_Summary] [Table_Summary] 北交所市场表现 行业重要新闻： 证券分析师 易申申 执业证书：S0600522100003 yishsh@dwzq.com.cn 证券分析师 余慧勇 执业证书：S0600524080003 yuhy@dwzq.com.cn 本周新股及即将上市新股： 观点: 证券分析师 朱洁羽 执业证书：S0600520090004 zhujieyu@dwzq.com.cn 研究助理 武阿兰 执业证书：S0600124070018 wual@dwzq.com.cn 研究助理 陈哲晓 执业证书：S0600124080015 sh_chenzhx@dwzq.com.cn 相关研究 《东吴北交所医美行业策略》 2026-03-13 《中美经贸磋商即将举行，北证 50 下跌 1.03%》 2026-03-13 东吴证券研究所 1 / 11 请务必阅读正文之后的免责声明部分 ◼ 行情回顾：截至 2026 ...

证券代码：920036 证券简称:觅睿科技 公告编号：2026-022 杭州觅睿科技股份有限公司股票交易异常波动公告 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、股票交易异常波动的具体情况 公司股票最近 3 个有成交的交易日 2026 年 3 月 10 日至 2026 年 3 月 12 日以内收盘价涨 幅偏离值累计达到 48.42%，根据《北京证券交易所交易规则（试行）》的有关规定，属于股 票交易异常波动情形。 1、 核实对象： 公司控股股东、实际控制人及一致行动人，持股 5%以上股东，在任的董事及高级管理 人员。 2、 核实方式： 电话询问、口头询问及微信询问等方式。 3、 核实结论： 前期公告的事项不存在需要更正、补充之处；未发现可能或已经对本公司股票交易价格 产生较大影响的媒体报道或市场传闻，不涉及热点概念事项；近期公司经营情况及内外部经 营环境未发生重大变化；公司、控股股东和实际控制人不存在关于本公司的应披露而未披露 的重大事项，或处于筹划阶段的重大事项；不存在其他可能对股价产生较大影响的 ...

Core Viewpoint - The article emphasizes the growing importance of smart network cameras in various sectors, driven by technological advancements and increasing market demand, highlighting the potential for further market expansion and innovation [1]. Group 1: Company Overview - MiRui Technology, established in 2017, focuses on the research, design, production, and sales of smart network cameras and IoT video products, with all related embedded software and AI algorithms developed in-house [2]. - The company has a strong emphasis on R&D, with 208 R&D personnel accounting for 39.25% of its workforce, and cumulative R&D investment reaching 230 million yuan, with R&D expenses consistently exceeding 9% of revenue [2][3]. - MiRui Technology has received multiple accolades, including being recognized as a national "specialized, refined, and innovative" small giant enterprise and ranking 27th in the "2025 Global Security 50" list [3]. Group 2: Market Strategy - The company has expanded its global presence by targeting the overseas civil security market through both ODM partnerships and its own brand, successfully entering major markets in North America, Europe, Asia, and Oceania [4]. - MiRui Technology has established a robust sales model that combines online and offline strategies, with significant sales through platforms like Amazon and Walmart, and has seen its foreign sales revenue grow from 355.30 million yuan in 2022 to 185.71 million yuan in the first half of 2025 [5]. Group 3: Product Development and Financial Performance - The company has seen a steady increase in revenue, with main business income rising from 548.55 million yuan in 2022 to 801.68 million yuan in 2025, driven by a higher proportion of high-end products and value-added services [6]. - MiRui Technology's gross margin improved from 26.42% in 2022 to 35.38% in the first half of 2025, reflecting enhanced profitability as the company scales its operations [6]. - The company plans to raise 320.16 million yuan through its IPO, with funds allocated for headquarters and brand development, as well as R&D center construction to strengthen its technological capabilities [10][12]. Group 4: Industry Trends - The global civil security market is projected to grow significantly, with an estimated market size of approximately 23.68 billion USD in 2024, expected to reach 35.95 billion USD by 2028, reflecting a compound annual growth rate of 15.16% [8]. - The number of global smart civil security household users is anticipated to increase from 228 million in 2024 to 631 million by 2028, indicating a robust growth trend in the sector [10]. - Advancements in hardware technologies and AI capabilities are expected to drive the development of civil video surveillance products towards higher resolution, intelligence, and cloud integration [10].

2026 年 03 月 08 日 策略类●证券研究报告 海外扰动冲击板块短期表现，但局部结构性活跃或依然可期 新股专题 投资要点 新股周观点：上周受到海外突发事件扰动，资金做多热情受阻，新股次新板块波动 显著加剧。短期来看，由于海外局势复杂化，可能暂时板块整体风险偏好依然将受 到抑制，甚至不排除偶发性冲击可能；但可能无须悲观，三月政策和科技大事件催 化预期逐渐增多，叠加新股本轮震荡向上活跃周期未改，局部结构性亮点或依然可 期；同时，略微拉长，本次因外部突发事件带来的扰动或许将成为优质新股次新标 的配置良机。建议适度灵活，海外局势未明朗前强调重视节奏和风险控制。 （1）上周新股次新板块波动加剧；假设以 2025 年以来上市的沪深新股次新板块 比较来看，期间板块平均涨幅-3.3%，实现正收益占比约 17.0%。 （2）短期，由于海外局势复杂化，海外局势变化或依然是全球市场关注焦点；预 计在海外扰动暂未有趋势性消退背景下，整体市场风险偏好将继续受到抑制，新股 次新板块或也难以独善其身、偶发性冲击或还是需要警惕。但假设回到新股次新板 块自身所处的周期阶段，可能也无须悲观，板块结构性活跃还是相对可期；首先， 本轮新股周 ...

Group 1 - The report indicates that the new stock market is experiencing increased volatility due to overseas disturbances, but there are still potential structural opportunities within specific sectors [1][2][12] - The average decline of new stocks listed since 2025 is approximately -3.3%, with only about 17.0% of these stocks showing positive returns, a significant drop from the previous week's 75.8% [1][29] - Despite the current market challenges, there is an expectation for structural activity in the new stock sector, particularly as external policies and events are anticipated to increase in March [2][12] Group 2 - The report highlights that the focus remains on sectors with long-term growth potential, such as AI, commercial aerospace, and energy exports, suggesting that investors should seek out sub-sectors with higher elasticity to new developments [3][12] - The upcoming new stocks include MiRui Technology, which is involved in the development and sales of intelligent network cameras and IoT video products, indicating a focus on technology-driven sectors [4][38] - The report suggests a flexible investment approach, emphasizing the importance of rhythm and risk control in light of external disturbances, while still identifying potential investment opportunities in both new and existing stocks [8][39]