Core Viewpoint - The company, Andavil Technology Co., Ltd., is actively engaging with institutional investors to discuss its strategic plans, including low-altitude economy development, gross margin improvement, and international market expansion [1]. Group 1: Investor Activity - The investor activity was a roadshow and site visit held on February 4, 2026, organized by CITIC Securities, with participation from 26 institutional investors [2]. - The company’s management team included key executives such as the Chairman, General Manager, and financial leaders, indicating a strong reception for investor inquiries [2]. Group 2: Business Expansion and Operational Improvement - The event featured a site tour where the management presented the company's strategic planning and the details of a planned private placement [3]. - In the low-altitude economy sector, the company has signed multiple research and development contracts or cooperation intentions with eVTOL manufacturers, indicating substantial progress in business expansion [4]. - The company is currently in technical discussions with commercial aerospace firms, although no revenue has been generated from this sector yet [4]. - The SIPDM industrial software is targeted at "specialized and innovative" small and medium enterprises, with a significant demand expected in this market [4]. Group 3: Financial Outlook - The company anticipates revenue growth in 2025, but a decline in gross margin due to product mix differences; however, gross margin is expected to stabilize and improve in 2026 through enhanced cost control and product optimization [4]. - The overall cash flow situation is secure, with good receivables from civil aviation business, and is expected to improve further in 2026 due to project settlements and supportive national policies [4]. Group 4: International Market Development - The company’s application for EASA (European Union Aviation Safety Agency) certification has been accepted, which will facilitate the development of Airbus supplier relationships and support international market entry [4]. - The Tianjin fundraising project is expected to benefit from the local aviation industry cluster and favorable talent policies, enhancing cost efficiency [4].

| 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | --- | --- | --- | --- | --- | | | 股份數目 | | ( 請參閱上述 * 註 | 有投票權股(日/月/年) 有 | | | | | | 份自分比 | | | | | | 30/0 3 | | CS20260204E00061 | 中信证券-开元单一资产管理计1101(L) | 11,460,000(L) | HKD 3.1835 1,790,129,000(L) | 16.04(L)03/02/2026 | 格隆汇2月4日丨根据联交所最新权益披露资料显示，2026年2月3日，中广核电力(01816.HK)获中信证券-开元单一资产管理计划在场内以每股均价3.1835港元 增持1146万股，涉资约3648.29万港元。 增持后，中信证券-开元单一资产管理计划最新持股数目为1,790,129,000股，持股比例由15.93%上升至16.04%。 | 股份代號: | 01816 | | --- | --- | | 上市法國 ...

"券商一哥"中信证券再发公告。 2月2日晚间，中信证券发布"提质增效重回报"行动方案2025年落实情况报告（简称"落实报告"），其中包含公司2025年业绩快报数据、对于"五篇大文 章"的落实举措、落实"看门人"职责的情况以及分红情况等。 据落实报告，2025年中信证券全年实现营业收入748.30亿元，同比增长28.75%；公司实现归母净利润300.51亿元，同比增长38.46%。对于稳健增长的业 绩，公司派发2025年中期现金分红42.98亿元，让投资者切实收获益处。 截至2025年12月31日，中信证券资产总额为20835.34亿元，较年初增长21.79%；公司归属于母公司股东权益为3199.05亿元，较年初增长 9.14%，经营业绩持续稳健增长。 针对公司业绩水平及分红情况，时代周报记者向中信证券发送了采访提纲，截至发稿公司未作回复。 2025年营收增长近30% 2023年，中信证券业绩水平延续下行状态。全年，中信证券实现营业收入600.68亿元，同比下降7.74%；公司实现归母净利润197.21亿元，同比下降 7.49%。公司上述两项重要指标下降幅度相比2022年有所收窄，但多项主营业务收入均下降。 2 ...

联交所最新资料显示，2月3日，中信证券-开元单一资产管理计划增持中广核电力(01816)1146万股，每 股作价3.1835港元，总金额约为3648.29万港元。增持后最新持股数目约为17.90亿股，最新持股比例为 16.04%。 ...

智通财经APP获悉，联交所最新资料显示，2月3日，中信证券-开元单一资产管理计划增持中广核电力 (01816)1146万股，每股作价3.1835港元，总金额约为3648.29万港元。增持后最新持股数目约为17.90亿 股，最新持股比例为16.04%。 ...

Group 1 - In January 2026, a total of 17 companies were reviewed for A-share IPOs, with 15 approved, resulting in an approval rate of 88.24% [1][6][28] - Two companies, Ningbo Huikang Industrial Technology Co., Ltd. and Zhejiang Xingsheng Technology Co., Ltd., were deferred for review [1][6][28] - Four companies terminated their A-share IPO processes in January, continuing the trend of single-digit terminations per month [11][33] Group 2 - The total amount raised from the 9 companies that went public in January 2026 was 9.053 billion yuan, a significant decrease compared to the previous month [1][39][44] - Among these, Zhenstone Co., Ltd. raised the highest amount at 2.919 billion yuan, while Guoliang New Materials raised the least at 194 million yuan [1][39][44] - The leading underwriter was China International Capital Corporation, which handled 2 IPOs with a total underwriting amount of 4.474 billion yuan [1][22][44] Group 3 - Xingsheng Technology was the first company in 2026 to fail to pass the IPO review, with issues raised regarding the authenticity of its sales revenue [6][28][30] - The company has a significant portion of its revenue (over 50%) coming from overseas markets, making compliance and verification of cross-border fund flows critical [7][29][30] - The underwriter, Guoxin Securities, faced scrutiny over its diligence in the review process, particularly regarding third-party payments [30][31] Group 4 - Huikang Technology was also deferred for review, with questions raised about its competitive position in the ice-making industry and the sustainability of its future performance [8][30][31] - The company must clarify the relationships with its main suppliers and ensure the accuracy of its disclosures [9][31] - Huikang Technology's main suppliers were established shortly before they began collaborating with the company, raising potential concerns about their relationships [10][31] Group 5 - In January, four companies withdrew their IPO applications, with two of them sponsored by Huatai United Securities, indicating a high withdrawal rate for this underwriter [11][14][38] - The companies that withdrew included Guangxi Baifei Dairy Co., Ltd., Nanjing Qinheng Microelectronics Co., Ltd., Jiangsu Yadian Technology Co., Ltd., and Zhuhai Saiwei Electronic Materials Co., Ltd. [11][33] - Zhuhai Saiwei had previously faced rejection in its first IPO attempt and withdrew its application after being approved in a second attempt [13][36] Group 6 - The issuance and underwriting situation showed that the average underwriting fee rate for the companies was relatively high, with Hengyun Chang's fee rate at 7.50%, which is above the industry average [19][42] - Hengyun Chang was the only company with an issuance price-to-earnings ratio exceeding the industry average, raising 1.561 billion yuan [19][42] - The underwriting fees for other companies were significantly lower, indicating a disparity in costs among different IPOs [19][42]

政策端的持续加码则为行业复苏注入强劲动力。餐饮行业凭借高频、日常、单笔消费金额较低且决策链 条短的特征，成为各类消费刺激政策重点关注且受益明确的方向。从政策实践来看，消费券等补贴工具 对餐饮消费的提振效果显著，以上海、北京对比为例，2024 年四季度上海发放餐饮消费券后，当年 10- 11 月住宿餐饮社零收入同比降幅明显收窄，改善幅度显著高于未发放消费券的北京。近年来政策对提 振餐饮消费的重视程度持续强化，且执行效果良好，中信证券认为，后续若有更多消费政策出台，餐饮 行业仍将是高概率受益场景，政策刺激效果有望直接反映在行业短期经营数据改善中。 价格机制的修复则为行业盈利改善打开空间。2025 年四季度以来，居民消费价格指数已呈现改善迹 象，2026 年国家层面明确将 "推动物价合理回升" 作为宏观调控重要目标，餐饮行业价格端有望迎来更 积极的复苏节奏。目前行业内龙头企业已率先通过菜单结构优化、核心单品提价及优惠措施收缩等方式 实现顺价，既验证了终端消费需求的韧性，也体现出龙头企业的定价能力。从历史经验来看，原材料价 格上行对餐饮企业毛利率的影响更多为阶段性扰动，头部企业能够通过价格传导、产品结构调整及供应 链 ...

格隆汇2月4日｜协鑫集成(002506.SZ)今日涨停，换手率25.1%，成交额53.79亿元。龙虎榜数据显示，深股通买入1.32亿元，卖出1.19亿元，净买入1331万 元；中信证券北京建外大街证券营业部位列卖一席位，净卖出6.75亿元。上榜席位全天买入5.94亿元，卖出10.15亿元，合计净卖出4.21亿元。(格隆汇) | 序号 | 交易营业部名称 | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | | 1 | 国泰海通证券股份有限公司武汉紫阳东路证券营业部 | 21次 47.62% 2 | 14866.01 | 2.76% | | 2 | easimoney.com 深股通专用 | 959次 47.55% | 13241.75 | 2.46% | | 3 | 国泰海通证券股份有限公司北京知春路证券营业部 | 74次 51.35% | 10308.23 | 1.92% | | 4 | 机构专用 | 2025次 42.12% | 8202.48 | 1.53% | | 5 | 机构专用 | 2025次 42.12% | 7641.49 | 1.42% ...

智通财经APP获悉，中信证券发布研报称，整体而言，餐饮行业正在过渡至以基本面改善为主线的修复 阶段，中期展望积极。该行推荐如下投资主线：1)高质价比定位适配消费趋势，拓店动能和品牌势能强 劲，同店有充分支撑的成长赛道领先企业;2)主营业务稳中有进，新品牌具发展潜力，提供高股东回报 的行业龙头;3)积极变革，经营触底回升的细分赛道公司。 中信证券主要观点如下： 估值：对标海外发展经验，通胀驱动中枢提升 综合日本及美国市场海外经验，CPI是餐饮板块估值的重要变量。在CPI下行或通缩阶段，尽管原材料 成本压力缓解，但价格竞争加剧、同店增长乏力以及需求预期偏弱，往往压制餐企估值中枢;而随着CPI 回升、通胀预期改善，市场对企业中长期的发展预期提升，推动估值进入修复扩张通道。头部餐企具备 更强的供应链、经营管理能力和定价权，具备穿越周期能力，估值中枢有望在价格环境修复过程中获得 系统性抬升。 餐饮行业正逐步进入由多重因素共同驱动的修复阶段 经营层面，自2H25起，社零餐饮收入及主要餐饮业态同店表现同步改善，同时行业新增供给节奏放 缓，竞争强度边际趋缓。政策层面，服务消费在稳增长框架中的重要性持续提升，餐饮凭借高频消费、 ...

杰华特首次公开发行股票的发行费用总额为16,745.59万元，其中，保荐及承销费用13,332.84万元。 杰华特的实际控制人为ZHOUXUNWEI及黄必亮。ZHOUXUNWEI，美国国籍；黄必亮，中国澳门居 民。 (责任编辑：马欣) 2023年和2024年，杰华特归母净利润分别为-5.314亿元、-6.034亿元，扣非净利润分别为-5.541亿 元、-6.438亿元。 杰华特于2022年12月23日在上交所科创板上市，公开发行人民币普通股（A股）5,808.00万股，发行价 格为38.26元/股，保荐机构（主承销商）为中信证券股份有限公司，保荐代表人为金田、杨波。 杰华特首次公开发行股票募集资金总额222,214.08万元，募集资金净额为205,468.49万元。该公司实际募 资净额比原拟募资多48,373.76万元。据杰华特于2022年12月20日披露的招股说明书，该公司原拟募集资 金157,094.73万元，用于高性能电源管理芯片研发及产业化项目、模拟芯片研发及产业化项目、汽车电 子芯片研发及产业化项目、先进半导体工艺平台开发项目、补充流动资金。 中国经济网北京2月4日讯 杰华特(688141.SH)近 ...