中国经济网北京2月4日讯 聚水潭集团股份有限公司（以下简称"聚水潭"，06687.HK）今日港股收 报21.94港元，跌幅11.604%，今日盘中最低价21.60港元，创上市以来最低价。该股港股目前处于破发 状态。 聚水潭2025年10月21日在港交所上市。配发结果公告显示，聚水潭全球发售项下发售股份数目 68,166,200股股份（视乎超额配股权行使与否而定），香港发售股份数目6,816,700股发售股份，国际 发售股份数目61,349,500股发售股份。 聚水潭的发售价30.60港元，所得款项总额2,085.89百万港元，扣除按发售价计算之估计应付上市 开支148.27百万港元，所得款项净额1,937.62百万港元。招股书显示，聚水潭计划将全球发售所得款项 作以下用途：约55%将用于强化公司的研发能力，以丰富公司于未来五年的产品矩阵；约25%将用于 在未来五年加强公司的销售及营销能力；约10%将在未来五年用于战略投资；约10%将用于一般公司 用途。 (责任编辑：徐自立) 聚水潭的联席保荐人、整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人为中国国 际金融香港证券有限公司、J.P.MorganSe ...

AI新技术冲击软件股，聚水潭(06687)今早跌近13%，低见21.6港元创上市以来新低。截至发稿，跌 12.81%，报21.64港元，成交额764.17万港元。 公开资料显示，聚水潭是全球电商SaaS市场的领军企业。该公司主要面向在各电商平台开设店铺的商 家，产品以电商SaaS ERP 为核心，构筑起覆盖电商运营各领域的一站式电商SaaS解决方案。截至2025 年6 月30 日，聚水潭服务9.3 万个SaaS 客户。 消息面上，周二，由AI初创巨头Anthropic推出的新型自动化工具引发了市场对软件股的恐慌性抛售， 创下去年4月以来跌幅最大的一天。分析师指出，AI进展的预期已发生质变：从最初认为AI能"助力增 长"，转向质疑AI是否会"彻底取代"传统订阅模式。Jefferies股票交易部门的Jeffrey Favuzza将当前局面 描述为"SaaS末日"，指出目前的交易风格完全是"无论如何让我离场（get me out）"式的恐慌性抛售，且 尚未看到任何止跌企稳的迹象。 ...

Group 1 - The core viewpoint of the article highlights a significant decline in software stocks, particularly affecting companies like 聚水潭, which saw a nearly 13% drop, reaching a new low since its listing at 21.6 HKD [1] - The market reaction was triggered by the launch of a new automation tool by AI startup Anthropic, leading to the largest drop in software stocks since April of the previous year [1] - Analysts have noted a shift in expectations regarding AI, moving from viewing it as a growth enhancer to questioning whether it could completely replace traditional subscription models [1] Group 2 - Jeffrey Favuzza from Jefferies described the current market situation as a "SaaS apocalypse," indicating a panic sell-off with no signs of stabilization [1] - 聚水潭 is recognized as a leading player in the global e-commerce SaaS market, primarily serving merchants operating on various e-commerce platforms [1] - The company offers a comprehensive e-commerce SaaS ERP solution, covering all aspects of e-commerce operations, and as of June 30, 2025, it serves 93,000 SaaS customers [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 聚水潭集團股份有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06687 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | 本月底法定/註冊股本總 ...

Group 1 - The core viewpoint of the report is that 聚水潭 (Jushuitan) is a leading player in the global e-commerce SaaS market, with significant competitive advantages and a clear growth strategy, expected to enter a phase of steady revenue growth and rapid profit release [1] - 中金 (CICC) initiates coverage of 聚水潭 with an "outperform industry" rating and sets a target price of 41 HKD [1] - The company is projected to achieve earnings per share of 0.25, 0.86, and 1.38 RMB for the years 2025 to 2027, respectively, with a compound annual growth rate of 135% from 2024 to 2026 [1]

Group 1 - The core viewpoint of the article is that CICC has initiated coverage on Jushuitan (06687) with an "outperform" rating and a target price of HKD 41 [1] - Jushuitan is recognized as a leading player in the global e-commerce SaaS market, showcasing significant competitive advantages and a clear growth strategy [1] - The firm anticipates that Jushuitan's earnings per share for 2025, 2026, and 2027 will be RMB 0.25, RMB 0.86, and RMB 1.38 respectively, with a compound annual growth rate of 135% from 2024 to 2026 [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 聚水潭集團股份有限公司 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06687 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | 本月底法定/註冊股本 ...

Core Insights - The integration of front-end e-commerce platforms like JuShuiTan and back-end financial systems like Kingdee Cloud is crucial for operational efficiency and data accuracy in businesses [1][18] - The article emphasizes the need for seamless collaboration between purchasing and sales processes to enhance business performance and reduce risks associated with manual data handling [1][18] Integration Challenges - Many companies initially rely on manual data export and import, which is time-consuming and prone to errors, leading to data chaos [3] - Scheduled API polling for data synchronization results in poor real-time performance and resource wastage, especially during peak sales periods [4] - Custom point-to-point development for each document type increases maintenance complexity and costs, as changes in one system require adjustments in multiple interfaces [5] Ideal Integration Capabilities - Effective integration should focus on "process fusion" rather than just "data transfer," ensuring that business workflows are streamlined [6] - KPaaS integration platform enables efficient document flow by automating processes such as purchase order creation and sales order confirmation, ensuring real-time updates across systems [6][18] Event-Driven Synchronization - KPaaS allows for immediate synchronization of document status changes, reducing delays and ensuring timely financial entries [11] - The platform supports two-way status synchronization, enabling feedback from Kingdee to JuShuiTan, which helps in error handling and alerts [7] Visual Workflow Design - KPaaS provides a graphical process designer that allows users to easily create and manage cross-system workflows, reducing the need for extensive coding [8] - The platform supports customizable data mapping and validation rules to ensure accurate document processing [10][13] Monitoring and Maintenance - KPaaS includes features for document tracking and operational support, allowing administrators to monitor processing status and manage exceptions effectively [16] - The system can send alerts for overdue tasks, enhancing operational efficiency and responsiveness [16] Conclusion - The integration between JuShuiTan and Kingdee Cloud should focus on achieving consistency in business actions, real-time financial data, and reliable management decision-making [18] - The KPaaS platform transforms complex system interactions into configurable and observable business process assets, essential for digital transformation in the e-commerce and manufacturing sectors [18]

Core Viewpoint - The "Annual Outstanding Growth IPO" award recognizes companies with strong financing capabilities, market performance, profitability, financial security, and market capitalization management, highlighting their potential for sustainable profit and expansion [4] Group 1: Award Announcement - The "Annual Outstanding Growth IPO" award was presented to five companies: JuShuiTan (06687.HK), Moore Threads (688795.SH), WeRide (00800.HK/WRD.US), Pony.ai (02026.HK/PONY.US), and Yuanbao (YB.US) [1] - The ranking of the awarded companies is in alphabetical order and does not indicate any specific order of merit [1] Group 2: Evaluation Criteria - The award is based on a comprehensive evaluation of various indicators, including financing scale, future performance, profitability, financial safety, and market capitalization management [4] - The selection process involved quantitative data analysis and an expert review panel to determine the final results [4] Group 3: Purpose and Scope - The purpose of the award is to identify new listed companies that contribute significantly to economic development and social progress while demonstrating the ability to achieve sustained profitability and scale expansion [4] - The evaluation covers all listed companies and unicorns on major exchanges, including the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [4]

Group 1 - The "Annual Outstanding Growth IPO" award recognizes five companies: 聚水潭 (06687.HK), 摩尔线程 (688795.SH), 文远知行 (00800.HK/WRD.US), 小马智行 (02026.HK/PONY.US), and 元保 (YB.US) for their financing scale, market performance, profitability, financial security, and market value management [1] - The award aims to identify new listed companies that demonstrate the ability and potential for sustained profitability and scale expansion, contributing significantly to economic development and social progress [1] - The evaluation process involved quantitative data analysis and expert review to determine the final results [1] Group 2 - The "金格奖" selection aims to create a valuable reference list of listed companies and unicorns in the investment community, covering all listed companies on major exchanges including HKEX, SSE, SZSE, NYSE, AMEX, and NASDAQ [2]