一、证券事务代表任命的基本情况 常州通宝光电股份有限公司（以下简称"公司"）于 2026 年 3 月 24 日召开第四届 董事会第十三次会议，审议通过了《关于聘任公司证券事务代表的议案》。表决结果： 同意 9 票，反对 0 票，弃权 0 票。 聘任宦霞女士为公司证券事务代表，任职期限自本次董事会审议通过之日起至公司 第四届董事会任期届满之日止，自 2026 年 3 月 24 日起生效。该人员持有公司股份 0 股，占公司股本的 0%，不是失信联合惩戒对象。 （上述人员简历详见附件） 常州通宝光电股份有限公司证券事务代表任命公告 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。 证券代码：920168 证券简称：通宝光电 公告编号：2026-022 二、合规性说明及影响 （一）人员变动的合规性说明 董事会 2026 年 3 月 26 日 宦霞女士具备履行职责所必需的工作经验及相关素质，能够胜任相关岗位职责的要 求，其任职资格符合《中华人民共和国公司法》《北京证券交易所股票上市规则》等相 关法律法规的规定。 （二 ...

Market Overview - As of February 28, 2026, the number of listed companies on the Beijing Stock Exchange (BSE) reached 295, with a total market capitalization of 942.59 billion, and an average market value of 3.195 billion per company. The proportion of national-level specialized and innovative enterprises is approximately 61.02%, while high-tech enterprises account for 91.19% [6][8]. Index Performance - The BSE 50 Index and the Specialized and Innovative Index closed at 1537.13 and 2581.02 points respectively by the end of February 2026. The BSE 50 Index experienced a monthly fluctuation of 0.36%, while the Specialized and Innovative Index had a fluctuation of 0.39% [2][12]. - The PE (TTM, excluding negative values) for the BSE 50 Index was 48.65 times, while the Specialized and Innovative Index had the lowest PE (TTM, excluding negative values) among similar indices at 69.79 times [23][27]. Industry Performance - In February 2026, only the power equipment industry (2.97%) and the computer industry (2.08%) showed positive average fluctuations, while other industries had negative average fluctuations. Year-to-date, the power equipment and computer industries had impressive average fluctuations of 16.06% and 7.35% respectively, while the automotive industry had the lowest at -5.87% [39][44]. - The PE (TTM, excluding negative values) for the computer and electronics industries was notably high at 149.12 times and 73.42 times respectively, while other industries ranged from 32.79 times to 46.55 times [44]. Liquidity Situation - The trading volume for the BSE 50 Index fluctuated between 16.379 billion and 22.508 billion, while the Specialized and Innovative Index ranged from 4.983 billion to 6.477 billion. The turnover rates for the BSE 50 Index and the Specialized and Innovative Index were maintained at 1.59% to 2.84% and 2.40% to 2.97% respectively [31][33]. Company Announcements and Regulatory Dynamics - The BSE 50 sample stocks underwent periodic adjustments, with three stocks including Jikang Technology being added, while three stocks including Aweit were removed. Several key companies reported their 2025 performance forecasts, with Bianxing Technology showing a revenue and net profit growth of 69.56% and 80.91% year-on-year, respectively [60][62].

Financing & Review - In February 2026, the Beijing Stock Exchange (BSE) issued 6 new stocks, raising a total of 1.635 billion yuan; the cumulative amount raised in January-February 2026 reached 3.414 billion yuan[5] - The average review cycle for companies was 251 days, with 6 companies passing the review and 2 terminating their applications[5] Subscription & Issuance - The median first-day price increase for the 3 new stocks listed in February was +142.31%, with individual increases of +202.96%, +142.31%, and +82.12% for Ai De Technology, Hai Sheng Medical, and Tong Bao Optoelectronics respectively[3] - The cumulative subscription yield for new stocks in January-February 2026 was +0.53%, while the total yield for 2025 was +3.31%[3] New Stock Subscription Yield & Rate Predictions - The expected total number of new stock issuances for 2026 has been raised to 50, with a total fundraising target of 14.375 billion yuan[5] - The median first-day increase for directly priced new stocks is projected at 250%, with various scenarios considered[5] Investment Analysis - The BSE is accelerating new stock issuance, with 11 new stocks issued in January-February 2026, nearing half of the total issuance for the previous year[5] - The report highlights a significant reduction in individual stock returns due to increased initial valuations, with the average price-earnings ratio for newly issued stocks at 14.99 times[5] Risk Factors - Potential risks include slower-than-expected issuance rates, lower-than-expected stock price increases, changes in the BSE's issuance system, and rapid growth in new stock subscription accounts[5]

证券代码：920168 证券简称：通宝光电 公告编号：2026-014 常州通宝光电股份有限公司 关于签署募集资金三方监管协议的公告 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、募集资金资本情况 常州通宝光电股份有限公司（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 2025 年 11 月 13 日经北京证券交易 所上市委员会审议通过，并由中国证券监督管理委员会于 2025 年 12 月 30 日出 具《关于同意常州通宝光电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〕3020 号）同意注册，公司股票于 2026 年 2 月 26 日 在北京证券交易所上市。公司本次向不特定合格投资者发行股票 18,793,400 股， 每股发行价格为人民币 16.17 元，募集资金总额为人民币 303,889,278.00 元，扣 除不含税的发行费用 36,068,566.36 元，募集资金净额为人民币 267,820,711.64 元，募集资 ...

Group 1 - The average first-day increase for new stocks in February 2026 was 140%, indicating a slight cooling in market enthusiasm compared to 2025, where the average was 368% [2][24][28] - In February 2026, three companies were listed, raising a total of 7 billion yuan, continuing a rapid IPO pace [3][19][23] - The average revenue for newly listed companies in the first two months of 2026 was 8.1 million yuan, with an average net profit of 1.0 million yuan, reflecting an improvement in company quality compared to previous years [41][42][61] Group 2 - The average online subscription funds in February 2026 reached 8.039 billion yuan, maintaining high investor interest despite a slight decrease from previous months [31][29] - The average expected return for top-tier subscriptions in February 2026 was 11,000 yuan, with a total expected return of 78,000 yuan for the year to date [37][40] - The average subscription limit for new stocks in February 2026 was 1.01 million yuan, indicating a trend towards higher subscription capacities [32][36] Group 3 - In February 2026, five companies passed the IPO review, covering high-end manufacturing and intelligent equipment sectors, with several expected to raise over 400 million yuan [52][49] - As of the end of February 2026, 200 companies were preparing for IPOs, with an average review cycle of 386 days, showing a slight improvement in the speed of the IPO process [57][53] - The new three-board market saw 18 companies listed in February 2026, with an average revenue of 6.0 million yuan and a net profit of 0.6 million yuan, indicating a trend of higher quality listings [59][61]

Core Insights - The North Exchange 50 index experienced a slight increase of +0.48% this week, with 193 out of 295 listed companies showing positive weekly growth, led by Tongbao Optoelectronics (+61.41%) and *ST Yunchuang (+29.55%) [3][11] - The average daily trading volume on the North Exchange was approximately 17.96 billion yuan, with a total trading volume of 71.82 billion yuan over four trading days [4][5] - The overall price-to-earnings (P/E) ratio for the North Exchange is around 47.37 times, showing a slight increase from the previous week [22][25] - The number of market makers on the North Exchange has expanded to 21, enhancing market liquidity and trading mechanisms [3][42] Market Overview - The North Exchange's daily average trading volume was approximately 17.96 billion yuan, with a total trading volume of 71.82 billion yuan and a trading volume of 2.919 billion shares this week [4][5] - The North Exchange's turnover rate was 13.40%, higher than that of the Sci-Tech Innovation Board and the Shanghai and Shenzhen main boards [5][6] - The North Exchange has a total of 295 listed companies, with a total market capitalization of 942.59 billion yuan [6][22] Industry Performance - The sectors with the highest weekly growth included petroleum and petrochemicals (+21.8%), environmental protection (+8.0%), and transportation (+6.1%), while the media sector saw a decline of -15.6% [11][12] - The average P/E ratio for the non-ferrous metals sector is the highest at 129.6 times, followed by petroleum and petrochemicals (92.6 times) and telecommunications (90.4 times) [25][26] Investment Strategy - The report recommends focusing on two main investment directions for 2026: 1. A top-down approach targeting new productive forces in the North Exchange, particularly in emerging industries such as new energy (hydrogen and nuclear fusion), embodied intelligence (robotics), biomanufacturing, mobile communications, and new consumption [28] 2. A bottom-up approach based on financial indicators, focusing on companies with high growth rates, strong R&D investment, significant capacity release potential, and strong growth prospects [28] Company Announcements - Important announcements from North Exchange companies this week included asset restructuring, major contracts, foreign investments, and new patents [30][31]

Group 1 - The core viewpoint of the report indicates that the North Exchange 50 Index has increased by 0.48%, but the average daily trading volume has decreased by 3.3% after the Spring Festival, suggesting a weak trading atmosphere [6][10][11] - The report highlights that the main trading theme in the A-share market is "real asset re-inflation," with a focus on cyclical and military-related stocks, particularly in light of the escalating US-Iran tensions [7][10] - The North Exchange 50 Index will undergo a new adjustment, with companies such as Guangxin Technology being added, effective from March 16 [7][10] Group 2 - The report notes that the North Exchange's trading volume for the week was 2.917 billion shares, a decrease of 18.41% compared to the previous week, and the trading amount was 71.825 billion yuan, down 22.66% [14][15] - The report states that 193 stocks on the North Exchange rose, while 96 fell, resulting in a rise-to-fall ratio of 2.01, with *ST Yunchuang and Keli Co., Ltd. leading the gains [26][34] - The report mentions that the average PE (TTM) for the North Exchange is 94.68 times, with a median of 46.13 times, indicating a slight increase [12][17] Group 3 - The report details that one new stock, Tongbao Optoelectronics, was listed this week, with a first-day price increase of 70.01% and a trading volume of 5.54 billion yuan [19][33] - The report indicates that three companies were newly listed on the New Third Board, while seven were delisted, with no new financing planned or completed during the week [36][38] - The report highlights that the strong stock proportion on the North Exchange has risen to 38% [13]

Group 1 - The core viewpoint of the report indicates that the North Exchange 50 index rose by 0.48% during the week, but the average daily trading volume decreased by 3.3%, suggesting a weak trading atmosphere post the Spring Festival [8][12]. - The report highlights that the main trading theme in the A-share market is "real asset re-inflation," with a focus on cyclical and military-related stocks, especially in light of the escalating US-Iran tensions which are expected to boost commodity prices [9][12]. - The North Exchange 50 index will undergo a new adjustment, with Guangxin Technology, Tiangong Co., and Jikang Technology being added, effective from March 16 [9][12]. Group 2 - The report notes that 193 stocks on the North Exchange rose, while 96 fell, resulting in a rise-to-fall ratio of 2.01, with *ST Yunchuang and Keli Co. leading the gains [28]. - The average PE (TTM) for the North Exchange is reported at 94.68 times, with a median of 46.13 times, indicating a relatively high valuation compared to other exchanges [14][19]. - The trading volume for the North Exchange was 2.917 billion shares, a decrease of 18.41% week-on-week, with a total trading value of 71.825 billion yuan, down 22.66% [16][17]. Group 3 - This week, one new stock, Tongbao Optoelectronics, was listed on the North Exchange, with a first-day price increase of 70.01% [21]. - The report mentions that three companies were newly listed on the New Third Board, while seven were delisted, with no new financing planned or completed during the week [39][41]. - The report emphasizes the importance of monitoring stocks such as Litong Technology, Zhongyu Technology, and others in the cyclical and military sectors due to the current market conditions [9][12].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The technology industry experienced a total of 90 financing events globally from February 21 to February 27, 2026, with 60 events in the domestic market and 30 abroad. The leading sectors for financing in the domestic market were advanced manufacturing, artificial intelligence, and automotive transportation, with 28, 18, and 6 events respectively [9][10] - The overall market indices showed positive performance, with the Shanghai Composite Index rising by 1.98% to 4163 points, the Shenzhen Component Index increasing by 2.80% to 14495 points, and the ChiNext Index up by 1.05% to 3310 points. The semiconductor, automotive electronics, artificial intelligence, and metaverse indices also saw gains of 2.30%, 4.46%, 1.72%, and 2.19% respectively [26][30] - The report highlights significant advancements in various technology sectors, including breakthroughs in quantum technology, artificial intelligence, and advanced semiconductors, indicating a robust innovation landscape [34][39] Summary by Sections Financing Overview - A total of 90 financing events occurred in the technology sector during the specified week, with advanced manufacturing leading the domestic market [9] - The report details the distribution of financing events across different sectors, emphasizing the dominance of advanced manufacturing and AI [9] IPO Updates - Tongbao Optoelectronics was listed on the Beijing Stock Exchange, focusing on automotive electronic components, including LED lighting systems [10][11] - Shenghong Technology, Huayi Technology, Qunkong Technology, and Taidong Technology submitted IPO applications to the Hong Kong Stock Exchange, indicating a trend of companies seeking public listings in the technology sector [14][17][20][23] Market Performance Tracking - The report tracks the performance of major market indices, noting an overall upward trend in the technology sector, with specific indices showing significant weekly gains [26][30] - High turnover rates were observed in the semiconductor and metaverse indices, indicating active trading and investor interest [26] NextX Technology Tracking - The report discusses advancements in the advanced semiconductor sector, including the development of oxide semiconductor gain cell-embedded memory and breakthroughs in ferroelectric materials [34][39] - In the AI sector, significant findings were reported regarding the performance of AI diagnostic tools and improvements in reinforcement learning stability [34] - Quantum technology advancements were highlighted, including a new framework for quantum error correction and significant improvements in quantum dot LED efficiency [34][39]

Group 1 - The report indicates that after the Spring Festival, the new stock market has shown signs of increased activity, with an average increase of approximately 3.7% for new stocks listed since 2025, and about 75.8% of these stocks achieving positive returns [1][13][5] - The current new stock cycle is expected to continue its upward trend, although the pricing indicators for new stocks have shifted higher, leading to a relatively weaker valuation drive for this cycle [2][13][1] - The report emphasizes the importance of external policies and events in catalyzing the activity of new stocks, suggesting that high-frequency rotation and differentiation will be the norm in this cycle [2][13][1] Group 2 - The report notes that last week, there were three new stocks available for online subscription, with an average issuance price-earnings ratio of 19.3X and a subscription success rate of 0.0206% [4][25] - The performance of newly listed stocks showed a significant drop in first-day trading enthusiasm, with an average first-day increase of about 70% for new stocks on the North Exchange, compared to 175% in the previous week [4][30] - The report highlights that the average increase for new stocks listed since 2025 on the North Exchange was 1.2%, with 67.6% of these stocks also showing an increase [5][33] Group 3 - The report identifies key sectors for investment, including technology themes such as AI, commercial aerospace, and energy export, which are expected to have significant long-term growth potential [3][13][1] - It also suggests that investors should consider sectors with temporary popularity but relatively stable performance, such as innovative pharmaceuticals, new consumption, and robotics, for potential rotation opportunities [3][13][1] - The report lists specific upcoming new stocks, including Tongling Technology and Haifiman, which are expected to be listed soon [4][3]