然而，市场对i8认知有偏差，该行认为，纯电i系列并非理想投资价值的最大核心，增程L系列的潜力仍 巨大。该两个因素至少使公司拓展30-50%的潜在市场空间。因此，该行认为不必对理想汽车太过悲 观，大幅撤后是逐步长线买入机会。 另外，该行认为i8为高端慢热产品，预计九月发布的i6才是纯电系列真正走量产品，短期交付不会有强 劲的拉动效应。该行估计i8月销为3000-5000辆，主以验证纯电产品，走稳后为i6开路。 招商证券国际发布研报称，理想汽车-W(02015)公布新车i8定价，基本符合预期，且油电同价超预期。 故维持目标价138港元及"增持"评级。 ...

智通财经APP获悉，招商证券国际发布研报称，理想汽车-W(02015)公布新车i8定价，基本符合预期， 且油电同价超预期。故维持目标价138港元及"增持"评级。 另外，该行认为i8为高端慢热产品，预计九月发布的i6才是纯电系列真正走量产品，短期交付不会有强 劲的拉动效应。该行估计i8月销为3000-5000辆，主以验证纯电产品，走稳后为i6开路。 然而，市场对i8认知有偏差，该行认为，纯电i系列并非理想投资价值的最大核心，增程L系列的潜力仍 巨大。该两个因素至少使公司拓展30-50%的潜在市场空间。因此，该行认为不必对理想汽车太过悲 观，大幅撤后是逐步长线买入机会。 ...

Group 1: Economic Outlook - The meeting emphasized the importance of maintaining stability and continuity in economic policies, with a focus on achieving high-quality development and addressing risks effectively [2][3] - The overall tone of the meeting was more positive compared to previous assessments, with a commitment to achieving the annual economic growth target despite external uncertainties [3][4] Group 2: Monetary Policy - The meeting called for sustained macroeconomic policy efforts, including proactive fiscal policies and moderately loose monetary policies to enhance policy effectiveness [4][6] - There is potential for further interest rate cuts, as the emphasis on reducing comprehensive financing costs suggests room for monetary easing [4][5] Group 3: Consumption and Investment - The meeting highlighted the need to effectively unleash domestic demand, focusing on both goods and service consumption, and implementing special actions to boost consumption [7][8] - The importance of expanding effective investment and stimulating private investment was also underscored, with specific measures to support consumer spending [7][8] Group 4: Market Competition - The meeting stressed the need to promote a unified national market and optimize market competition, addressing issues of disorderly competition among enterprises [9][10] - Policies aimed at regulating competition and eliminating unfair practices were reiterated, with a focus on enhancing the overall business environment [11][12]

Group 1 - The report from China Merchants Securities highlights the introduction of new isostatic equipment and UV printing technology in the solid-state battery manufacturing process to address core interface challenges [1] - UV printing technology is favored for its high precision and automation, making it suitable for the stringent production requirements of solid-state batteries, and is currently a primary choice for leading battery manufacturers [1][2] - The overall cycle time of the solid-state battery production line is currently a bottleneck, with precise control required over various parameters such as laser settings, dispensing speed, adhesive viscosity, and UV curing energy [2] Group 2 - The production of solid-state batteries imposes higher requirements on UV adhesives, particularly in terms of tensile strength, flexibility, and puncture resistance, due to their use in insulating the electrodes [3] - New formulations of solid-state battery UV adhesives are reported to have significant barriers to entry, as they must not react with sulfur-based electrolytes, indicating a specialized market for these materials [3] - Leading companies in the UV adhesive sector, such as Songjing Co., have made significant advancements in solid-state UV adhesive products and equipment [3]

Core Viewpoint - The article highlights the performance of new IPOs in the A-share market from January to July 2025, indicating a significant increase in both the number of new listings and the total funds raised compared to the same period last year [1]. Group 1: IPO Performance - A total of 59 new companies were listed in the A-share market from January to July 2025, representing an 18.00% increase from 50 companies in the same period last year [1]. - The net fundraising amount for these 59 new listings reached 544.21 billion yuan, which is a 63.83% increase compared to 332.18 billion yuan in the previous year [1]. Group 2: Underwriting Institutions Ranking - 26 underwriting institutions participated in the IPOs of the 59 new companies, with a total of 60 deals due to dual appointments for some companies [2]. - The top three underwriting institutions by the number of deals are: - First: Guotai Junan with 7 deals - Second: Huatai United and CITIC Securities, each with 6 deals [2]. Group 3: Legal and Accounting Firms Ranking - 25 law firms provided legal services for the 59 new IPOs, with the top three being: - First: Shanghai Jintiancheng with 9 deals - Second: Beijing Zhonglun with 6 deals - Third: Guangdong Xinda with 4 deals [5]. - 15 accounting firms provided auditing services for the IPOs, with the top three being: - First: Rongcheng with 13 deals - Second: Lixin and Tianjian, each with 9 deals [5].

Core Viewpoint - The Federal Reserve maintained the federal funds target rate at 4.25%-4.50% during the meeting on July 30, indicating ongoing concerns about stagflation risks and the challenges in lowering interest rates as long as the inflation gap exceeds the employment gap [1] Group 1: Federal Reserve Actions - The Federal Reserve's decision to keep the interest rate unchanged reflects its cautious stance on inflation and employment dynamics [1] - The current pace of balance sheet reduction remains unchanged, signaling a steady approach to monetary policy [1] Group 2: Inflation and Tariffs - New tariffs set to take effect on August 1 will not be reflected in import data until September, which may lead to a delayed inflation impact observed in October and November [1] - The potential for tariff-induced inflation could prolong the timeline for any interest rate cuts by the Federal Reserve [1] Group 3: Market Expectations - The market is currently pricing in a 45.2% probability of a rate cut in September, suggesting that investors are preparing for the possibility of no rate reduction [1] - The absence of a rate cut in September could indicate that the risk-free interest rate will no longer serve as a positive factor for the market [1]

广东省建筑科学研究院集团股份有限公司 首次公开发行股票 参与战略配售的投资者专项核查报告 保荐人（主承销商） （深圳市福田区福田街道福华一路 111 号） 招商证券股份有限公司关于 由招商证券股份有限公司（以下简称"招商证券"、"保荐人（主承销商）"或 "主承销商"）承销的广东省建筑科学研究院集团股份有限公司（以下简称"广东 建科"、"发行人"或"公司"）首次公开发行股票（以下简称"本次发行"）并在创业 板上市申请文件已于 2023 年 8 月 17 日经深圳证券交易所（以下简称"深交所"） 上市委会议审核同意，并获中国证券监督管理委员会（以下简称"中国证监会"） 证监许可〔2025〕1275 号文注册同意，批文签发日期为 2025 年 6 月 17 日。 本次发行的参与战略配售的投资者为招商证券投资有限公司（或有，按照《深 圳证券交易所首次公开发行证券发行与承销业务实施细则》规定实施跟投的，保 荐人依法设立的另类投资子公司或者实际控制该保荐人的证券公司依法设立的 另类投资子公司，简称"招商投资"）、与发行人经营业务具有战略合作关系或 长期合作愿景的大型企业或其下属企业（科学城（广州）投资集团有限公司（简 称 ...

致：招商证券股份有限公司（主承销商） 一、引言 由招商证券股份有限公司（以下简称"招商证券"、"保荐人（主承 销商）"或"主承销商"）承销的广东省建筑科学研究院集团股份有限公 司（以下简称"广东建科"、"发行人"或"公司"）首次公开发行股票 （以下简称"本次发行"）并在创业板上市申请文件已于 2023 年 8 月 17 日经深圳证券交易所（以下简称"深交所"）上市委会议审核同意，并获 中国证券监督管理委员会（以下简称"中国证监会"）证监许可〔2025〕 本次发行的参与战略配售的投资者为招商证券投资有限公司（或有， 按照《深圳证券交易所首次公开发行证券发行与承销业务实施细则》规定 实施跟投的，保荐人依法设立的另类投资子公司或者实际控制该保荐人的 证券公司依法设立的另类投资子公司，简称"招商投资"）、与发行人经 第 2 页 共 27 页 参与战略配售的投资者适格性的专项法律意见书 广东广和律师事务所 关 于 广东省建筑科学研究院集团股份有限公司 首次公开发行股票并在创业板上市 发行见证之参与战略配售的投资者适格性 专项法律意见书 深圳市福田区深南中路 1006 号国际创新中心 A 座 8 层、10 层 电话：07 ...

（文章来源：每日经济新闻） 传化智联（SZ 002010，收盘价：6.17元）发布公告称，2025年7月29日，传化智联接受招商证券调研， 公司证券事务代表赵磊、投资者关系管明锋参与接待，并回答了投资者提出的问题。 2024年1至12月份，传化智联的营业收入构成为：物流占比59.87%，专业化学产品制造业占比40.06%， 其他业务占比0.07%。 ...

| BILI 哔哩哔哩 | | 503 | | --- | --- | --- | | 22.440 ↓ -0.395 -1.73% | | 收盘价 07/29 15:59 美东 | | 22.750 ↑ 0.310 +1.38% | | 盘前价 07/30 04:00 美东 | | 暨 ½ 24 号 Ｓ ９ 同 ○ | | ● 快捷交易 | | 最高价 22.830 | 开盘价 22.830 | 成交量 194.42万 | | 最低价 22.370 | 昨收价 22.835 | 成交额 4389.42万 | | 平均价 22.576 | 市盈率TM 亏损 | 总市值 92.63亿(m) | | 振 幅 2.01% | 市盈率(静) | 总股本 4.13亿 | | 换手率 0.69% | 市净率 4.621 | 流通值 63.66亿 | | 52周最高 31.770 | 委 比 89.19% | 流通股 2.84亿 | | 52周最低 12.720 | 量 比 0.64 | 色 手 1股 | | 历史最高 157.660 股息TIM -- | | 换股比率 1.00 | | 历史最低 8.230 | | | ...