超额配售选择权实施情况的核查意见 江苏天工科技股份有限公司（以下简称"天工股份"、"发行人"、"公司"） 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（以下简称"本次发 行"）超额配售选择权已于 2025 年 6 月 11 日行使完毕。申万宏源证券承销保荐 有限责任公司（以下简称"申万宏源承销保荐"、"保荐机构（主承销商）"） 担任本次发行的保荐机构（主承销商），为本次发行具体实施超额配售选择权操 作的获授权主承销商（以下简称"获授权主承销商"）。 申万宏源承销保荐就本次超额配售选择权的实施情况核查说明如下： 一、本次超额配售情况 根据《江苏天工科技股份有限公司向不特定合格投资者公开发行股票并在北 京证券交易所上市发行公告》（以下简称"《发行公告》"）公布的超额配售选 择权机制，申万宏源承销保荐已按本次发行价格 3.94 元/股于 2025 年 4 月 28 日 （T 日）向网上投资者超额配售 900.00 万股，占初始发行股份数量的 15.00%。 超额配售股票全部通过向本次发行的战略投资者延期交付的方式获得。 申万宏源证券承销保荐有限责任公司 关于江苏天工科技股份有限公司 向不特定合格投资者公开发 ...

证券代码：920068 证券简称：天工股份 公告编号：2025-040 江苏天工科技股份有限公司 超额配售选择权实施公告 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。 江苏天工科技股份有限公司（以下简称"天工股份"、"发行人"或"公司"） 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（以下简称"本次发 行"）超额配售选择权已于 2025 年 6 月 11 日行使完毕。申万宏源证券承销保荐 有限责任公司（以下简称"申万宏源承销保荐"、"保荐机构（主承销商）"）担任 本次发行的保荐机构（主承销商），为具体实施超额配售选择权操作的获授权主 承销商（以下简称"获授权主承销商"）。 本次超额配售选择权的实施情况具体如下： 一、本次超额配售情况 根据《江苏天工科技股份有限公司向不特定合格投资者公开发行股票并在北 京证券交易所上市发行公告》（以下简称"《发行公告》"）公布的超额配售选择权 机制，申万宏源承销保荐已按本次发行价格 3.94 元/股于 2025 年 4 月 28 日（T 日）向网上投资者超额配售 ...

Investment Rating - The report maintains an "Outperform" rating for the industry [5] Core Insights - The North Exchange 50 Index reached a historical high, indicating increased institutional interest and market activity [1][3] - The total number of listed companies on the North Exchange is 266, with a total market capitalization of 795.622 billion yuan, reflecting a quarter-on-quarter increase of 7.8% [1][12] - The average daily margin balance for May reached 5.367 billion yuan, remaining at a historically high level [1][24] Market Overview - The trading volume for May was 28.481 billion shares, with a total transaction value of 604.999 billion yuan, showing a quarter-on-quarter decrease of 8.0% and 4.1% respectively [1][18] - The North Exchange 50 Index exhibited significant volatility, with a peak of 1500.31 before a notable decline [3][32] - The only sector to decline this month was the communication sector, while transportation, defense, beauty care, non-ferrous metals, and pharmaceutical industries saw median gains of over 13% [3][38] Valuation Metrics - As of May 31, the North Exchange 50 Index had a price-to-earnings ratio (PE-TTM) of 47.71, placing it in the 98.14th percentile over the past two years [2][28] - The price-to-book ratio (PB-MRQ) was 9.15, in the 95.46th percentile, and the dividend yield was 0.62, in the 0.83rd percentile [2][28] - The highest median PE ratios by industry were in computing (134), telecommunications (111), and building materials (96) [2][28] Industry Performance - The report highlights that the transportation, defense, beauty care, non-ferrous metals, and pharmaceutical sectors performed well, with no sectors experiencing declines when weighted by market capitalization [3][38] - The top ten stocks by gain this month included Tian Gong Co., Luqiao Information, and Qifeng Precision [3][42] New Listings and Market Dynamics - One new company, Tian Gong Co. (920068.BJ), was listed this month, bringing the total to 266 [1][4] - The report notes ongoing policy initiatives aimed at supporting the high-quality development of innovative small and medium-sized enterprises [4][13]

（文章来源：证券时报网） 佳合科技 | 301501 | 恒鑫生活 | 78.88 | 35.12 | -6.79 | | --- | --- | --- | --- | --- | | 603014 | C威高 | 37.11 | 34.65 | -4.53 | | 688755 | C汉邦 | 46.83 | 34.54 | -4.82 | | 920068 | 天工股份 | 20.90 | 33.73 | -7.11 | | 870299 | 灿能电力 | 23.78 | 33.65 | -5.63 | | 001206 | 依依股份 | 24.35 | 33.46 | 6.15 | | 300040 | 九洲集团 | 8.10 | 33.26 | -4.48 | | 301488 | 豪恩汽电 | 76.00 | 32.75 | -2.25 | | 600610 | 中毅达 | 15.79 | 32.63 | -5.11 | | 300703 | 创源股份 | 18.58 | 32.49 | -2.31 | | 837023 | 芭薇股份 | 29.28 | 32.19 | -4.38 | | 301 ...

Summary of Key Points Core Viewpoint - The Beijing Stock Exchange (BSE) has seen significant trading activity and new listings, indicating a growing market with increased investor interest and participation. Trading Activity - As of May 18, 2025, there are 266 companies listed on the BSE with a total share capital of 36.498 billion shares and a circulating share capital of 23.096 billion shares [2] - For the week of May 12 to May 18, the trading volume reached 8.072 billion shares, a week-on-week increase of 42.28%, while the trading amount was 173.488 billion yuan, up 39.35% from the previous week [3] - The average trading price during this period was 21.49 yuan, reflecting a decrease of 2.06% [3] - The BSE 50 Index rose by 3.13% to 1422.43 points, with 25 stocks increasing, none remaining flat, and 25 declining [3] New Listings - One company successfully listed on the BSE during the week, bringing the total to 266 [6] - Tian Gong Co., Ltd. (stock code: 920068) was the latest addition, listed on May 13, 2025, and is the first company to split from a Hong Kong stock to list on the BSE [7] - On its first trading day, Tian Gong's stock peaked with a 498.98% increase, closing at 20.17 yuan, a rise of 411.93% with a trading volume of 1.076 billion yuan [7] - As of May 19, 2025, Tian Gong's stock price reached 22.99 yuan, with a total market capitalization of 14.9 billion yuan, reflecting a 4.45% increase from its listing day [7] Upcoming Listings and Applications - As of May 18, 2024, there are 62 companies awaiting approval for listing on the BSE, including 5 under review, 48 in inquiry, and 8 submitted for registration [5] - One company, Youli Intelligent Equipment Co., Ltd. (stock code: 874325), passed the listing committee meeting during this period [12] - Youli Intelligent plans to raise 358 million yuan for the construction of a production base for photovoltaic support components and other projects [13] Financial Performance of Listed Companies - Tian Gong's revenue for 2022 to 2024 was 383 million yuan, 1.035 billion yuan, and 801 million yuan, with net profits of 70.31 million yuan, 175 million yuan, and 174 million yuan respectively [9] - For the first quarter of 2025, Tian Gong expects to achieve revenue of 192 million yuan [10] - Youli Intelligent's revenue for the same period was 433 million yuan, 658 million yuan, and 729 million yuan, with net profits of 42.19 million yuan, 78.17 million yuan, and 90.05 million yuan [14] Other Companies in the Pipeline - Several companies, including Yuelong Technology, Kelairedi, and Kanghua Co., have passed the counseling acceptance process, indicating their readiness for potential listing [20][21][24] - These companies are involved in various sectors, including medical devices, chemical pharmaceuticals, and tourism services, showcasing the diversity of industries represented on the BSE [24][26][27]

天工股份（920068）今日上涨1.59%，全天换手率35.72%，成交额5.11亿元，振幅8.77%。龙虎榜数据显 示，营业部席位合计净卖出69.35万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交7620.66万元，其中，买入成交额为 3775.66万元，卖出成交额为3845.00万元，合计净卖出69.35万元。 具体来看，今日上榜营业部中，第一大买入营业部为东方财富证券股份有限公司拉萨团结路第二证券营 业部，买入金额为878.09万元，第一大卖出营业部为平安证券股份有限公司福州长乐北路证券营业部， 卖出金额为982.46万元。（数据宝） 北交所公开信息显示，当日该股因日换手率达35.72%上榜，营业部席位合计净卖出69.35万元。 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 东方财富证券股份有限公司拉萨团结路第二证券营业部 | 878.09 | 569.33 | | 买二 | 华泰证券股份有限公司上海武定路证券营业部 | 865.78 | 33.96 | | 买 ...

Group 1 - Jiangsu Tiangong Technology Co., Ltd. successfully listed on the Beijing Stock Exchange on May 13 [1] - The company, established in 2010, specializes in the research, production, and sales of titanium and titanium alloy materials, focusing on precision alloying and advanced processing techniques [3] - Tiangong's main products include titanium and titanium alloy wire, plates, and pipes, which are widely used in various sectors such as consumer electronics, chemical energy, sports leisure, and additive manufacturing [3] Group 2 - Chairman Zhu Zefeng expressed strong confidence and ambition for the future, stating that the listing is a new starting point for the company [9] - The company aims to seize strategic opportunities in the titanium alloy industry, focusing on technological innovation, product high-end development, diversified applications, and internationalization [9] - Tiangong plans to increase investment in core areas such as consumer electronics, aerospace, and healthcare, while promoting green and intelligent manufacturing to enhance its competitive advantages [9]

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、募集资金情况概述 证券代码：920068 证券简称：天工股份 公告编号：2025-039 江苏天工科技股份有限公司 关于签署募集资金三方监管协议的公告 江苏天工科技股份有限公司（以下简称"公司"）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申请已于 2024 年 11 月 1 日经北京证券交易所上 市委员会审核通过，并于 2025 年 4 月 3 日收到中国证券监督管理委员会于 2025 年 3 月 31 日出具的《关于同意江苏天工科技股份有限公司向不特定合格投资者 公开发行股票注册的批复》（证监许可[2025]635 号）。 公司本次公开发行股票 6,000.00 万股（超额配售选择权行使前），每股发行价 格为人民币 3.94 元，募集资金总额为人民币 236,400,000.00 元（超额配售选择权 行使前），扣除不含税的发行费用人民币 30,083,350.96 元（超额配售选择权行使 前），实际募集资金净额为人民币 206,316,6 ...

Summary of Key Points Core Viewpoint - On May 15, the Beijing Stock Exchange (BSE) saw a total trading volume of 1.834 billion shares and a trading value of 38.191 billion yuan, marking an increase of 4.862 billion yuan compared to the previous trading day. A total of 131 stocks closed higher, while 130 stocks closed lower [1]. Trading Performance - The trading performance on the BSE included 131 stocks that closed higher, accounting for 49.25% of the tradable stocks. Notable gainers included WanDe Co., TianGong Co., and Wuxi Jinghai, with increases of 28.12%, 20.29%, and 17.44% respectively [1]. - Conversely, 130 stocks closed lower, with the largest declines seen in ZhiSheng Information, FangDa New Materials, and LingGe Technology, which fell by 12.08%, 11.64%, and 7.63% respectively [1]. Trading Volume and Turnover - A total of 116 stocks had a trading value exceeding 10 million yuan, with the highest trading values recorded for GuoHang YuanYang (1.890 billion yuan), TianGong Co. (1.089 billion yuan), and HuaGuang YuanHai (934 million yuan) [1]. - The trading activity indicated high liquidity, with 88 stocks having a turnover rate exceeding 10%, and 28 stocks exceeding 20%. The highest turnover rates were observed in TianGong Co. (75.59%), HuaGuang YuanHai (62.28%), and Bawei Co. (54.19%) [1]. Notable Stocks - The following stocks were highlighted for their performance: - GuoHang YuanYang: Closing price of 13.43 yuan, up 8.74%, turnover rate of 46.24%, trading value of 1.889 billion yuan [1]. - TianGong Co.: Closing price of 24.54 yuan, up 20.29%, turnover rate of 75.59%, trading value of 1.089 billion yuan [1]. - Bawei Co.: Closing price of 35.39 yuan, up 29.97%, turnover rate of 54.19%, trading value of 606.64 million yuan [1]. Market Dynamics - The overall market dynamics reflected a mixed sentiment, with a significant number of stocks experiencing both gains and losses. The increase in trading volume and value suggests heightened investor interest and activity in the BSE [1].

Core Viewpoint - Jiangsu Tiangong Technology Co., Ltd. successfully went public on the Beijing Stock Exchange, raising a total of 236 million yuan through the issuance of 60 million shares at a price of 3.94 yuan per share, with a price-to-earnings ratio of 14.98 times [1][3]. Group 1: Company Overview - Tiangong Co. specializes in the research, production, and sales of titanium and titanium alloy materials, utilizing sponge titanium and other metal elements through various processes to create high-performance products [3]. - The company has been recognized as a national-level specialized and innovative "little giant" enterprise and a high-tech enterprise, with its technology center certified as a provincial enterprise technology center in Jiangsu [3]. - As of December 31, 2024, Tiangong Co. has obtained 51 patents, including 14 invention patents, which support its market leadership in high-end product manufacturing and cost control [3]. Group 2: Financial Performance - From 2022 to 2024, Tiangong Co.'s operating revenue increased from 383 million yuan to 801 million yuan, while the net profit attributable to shareholders after deducting non-recurring gains and losses rose from 64 million yuan to 170 million yuan [3]. Group 3: Fundraising and Future Plans - The funds raised will be invested in the construction of a production line for 3,000 tons of high-end titanium and titanium alloy bars and wires, aimed at expanding production capacity and enhancing product performance to improve market competitiveness [4]. - The successful listing marks a significant milestone in Tiangong Co.'s development, enabling it to leverage capital market resources to advance its core business and explore new fields in high-end titanium and titanium alloy materials [6]. Group 4: Underwriter's Role - Shenwan Hongyuan Securities acted as the lead underwriter and sponsor for the issuance, conducting thorough due diligence and receiving full recognition from the client for its efficient and high-quality service [8]. - Since 2015, Shenwan Hongyuan has closely accompanied Tiangong Co.'s growth, successfully facilitating its entry into the domestic capital market and gaining high recognition from both the market and the enterprise [8].