Group 1 - The core viewpoint of the article highlights the successful IPO of Heilongjiang Tianyouwei Electronic Co., Ltd., a leading domestic automotive instrument manufacturer, which raised approximately 3.74 billion yuan by issuing 40 million A-shares at a price of 93.50 yuan per share [1][3] - Tianyouwei was established in 2003 and has focused on automotive instruments, gradually becoming a market leader with a strong presence in the industry [2] - The company has seen a significant increase in sales of its products, particularly full LCD combination instruments and dual-screen instruments, while traditional electronic combination instruments have seen a decline in sales [2] Group 2 - The funds raised from the IPO will be used for the construction of automotive electronic smart factories, smart cockpit production bases, and R&D centers, as well as to supplement working capital [3] - The automotive industry in China is experiencing robust growth, with production and sales expected to reach 31.28 million and 31.44 million vehicles in 2024, respectively, marking year-on-year increases of 3.7% and 4.5% [4] - Tianyouwei's financial performance has shown rapid growth, with revenues increasing from 1.972 billion yuan in 2022 to 4.464 billion yuan in 2024, and net profits rising from 397 million yuan to 1.136 billion yuan during the same period [7]

4月24日，黑龙江天有为电子股份有限公司（股票代码：603202 简称：天有为）成功在上交所主板上市。招股书 显示，天有为主要从事汽车仪表的研发设计、生产、销售和服务，通过不断地研发创新，公司产品结构持续优 化，加速向智能座舱领域拓展，目前已成为国产汽车电子细分领域的代表性企业之一。 国产汽车仪表领先者，产品市占率位居前列 汽车电子是车身电子控制系统和车载电子系统的总称，对整车制造具有重要意义。上世纪70年代，汽车电子成 本在整车成本中的占比仅为3%，而到2015年，这一比例已增长至约40%，预计到2025年将达到60%。 仪表盘是汽车电子的重要组成部分之一，是集成了多种显示和指示信息的关键组件。 但目前国内汽车电子市场主要被外企占据，汽车仪表市场也不例外，根据盖世汽车研究院和平安证券的数据， 2020年国内液晶仪表市场中，博世、电装、大陆等企业合计占据约67%的市场份额，本土企业市场份额只占 33%。 自2003年成立以来，天有为聚焦汽车仪表行业，并在长期的发展中具备了为汽车整车厂商同步研发及批量供货 能力。当前公司产品已覆盖中外多家头部整车厂商及汽车零部件供应商，主要包括现代汽车集团、比亚迪、长 安汽车、 ...

证券时报·数据宝统计，截至（4月24日）收盘，沪指报3297.29点，涨0.93点，涨幅为0.03%；深成指报 9878.32点，跌57.48点，跌幅为0.58%；创业板指报1935.86点，跌13.30点，跌幅为0.68%。个股方面， 今日96只A股换手率超过20%，其中，C江顺科、C天有等5只个股换手率达五成以上，半数筹码易主。 （数据宝） 4月24日两市换手率居前个股一览 | 证券代码 | 证券简称 | 收盘价（元） | 换手率（%） | 涨跌幅（%） | | --- | --- | --- | --- | --- | | 001400 | C江顺科 | 66.70 | 72.39 | 78.53 | | 603202 | C天有 | 116.00 | 70.35 | 24.06 | | 920066 | 科拜尔 | 48.65 | 59.97 | -14.47 | | 002094 | 青岛金王 | 9.14 | 57.39 | 2.24 | | 603205 | 健尔康 | 43.75 | 53.69 | 10.01 | | 301277 | 新天地 | 13.27 | 48.54 | 3.75 | ...

Summary of Key Points Core Viewpoint - Tianyouwei (603202.SH) experienced a significant stock price increase, closing at 116.00 yuan with a rise of 24.06% on April 24 [1]. Trading Activity - The trading data indicates that the top five sellers of Tianyouwei included four institutional proprietary seats, with a net selling amount of 196.10 million yuan by institutional seats [2][3]. - The total trading volume for Tianyouwei was 22.89 million shares, with a total transaction value of 2,831.69 million yuan [3]. Institutional Buying and Selling - The largest institutional buyers included multiple branches of Dongfang Caifu Securities, with the highest individual buy amount being 33.80 million yuan, accounting for 1.19% of the total transaction [3]. - The largest institutional sellers were also primarily proprietary seats, with the highest individual sell amount reaching 64.22 million yuan, representing 2.27% of the total transaction [3].

Group 1 - The stock of Tianyouwei (603202) increased by 24.06%, with a trading volume of 2.832 billion yuan and a turnover rate of 70.35% [1] - After trading hours, the dragon and tiger list showed that four institutional special seats net sold 196 million yuan [1] Group 2 - The top five buying institutions were all from Dongfang Caifu Securities, with total buying amounting to approximately 162.5 million yuan [2] - Institutional special seats had a total selling amount of approximately 245 million yuan, resulting in a net selling difference of about 82.5 million yuan [2]

Core Viewpoint - Tianyouwei Electronics Co., Ltd. has successfully entered the capital market with its IPO, achieving a high issuance price and significant market capitalization, reflecting its strong performance and growth potential in the automotive electronics sector [1][10]. Company Overview - Tianyouwei is a leading player in the automotive electronics instrument sector in China, recently listed on the Shanghai Stock Exchange with an issuance price of 93.5 yuan per share, the highest for new stocks in the A-share market this year [1]. - The company reported revenues of 19.72 billion yuan, 34.37 billion yuan, and 44.65 billion yuan for 2022 to 2024, with net profits of 3.97 billion yuan, 8.43 billion yuan, and 11.36 billion yuan respectively, indicating significant growth [1]. Market Position - Tianyouwei has established partnerships with numerous well-known automotive manufacturers, including Hyundai, BYD, and Changan, and has seen its domestic market share increase from 9.78% in 2022 to 12.16% in 2024 [2]. - The company’s international sales revenue as a percentage of main business income has grown from 47.06% in 2022 to 53.60% in 2024, with global market share increasing from 3.71% in 2021 to 5.31% in 2023 [2]. Technological Development - The company has invested heavily in R&D, with expenditures rising from 84.58 million yuan in 2022 to 163.57 million yuan in 2024, and has built a strong team of 1,220 R&D personnel [4][5]. - Tianyouwei has developed 134 domestic patents and has achieved significant technological advancements, including a complete design process from microcontroller architecture to full LCD instruments [5]. Cost Management - The company benefits from lower land and labor costs in its production base in Heilongjiang Province, which helps reduce overall production costs and expand profit margins [6]. Industry Trends - The automotive electronics market in China is projected to grow from 110.4 billion USD in 2021 to 148.6 billion USD by 2026, with the automotive instrument market expected to reach 32 billion yuan by 2025 [7][9]. - The shift towards smart cockpits and the integration of IT and AI technologies in vehicles is anticipated to drive further growth in the automotive electronics sector, with the smart cockpit market expected to exceed 160 billion yuan by 2030 [9]. Future Plans - The company plans to use over 3.5 billion yuan raised from its IPO to invest in five major projects, including the construction of a smart cockpit production base [10][11].

王文博、吕冬芳夫妇分别直接持有公司53.60%和32.54%股份。吕冬芳为方缘合伙的执行事务合伙人并 可控制方缘合伙；王文博的姐姐(八姐)王佩娟为天有为咨询的执行事务合伙人并可控制天有为咨询，王 文博的姐姐王佩艳(七姐)为喜瑞合伙的执行事务合伙人并可控制喜瑞合伙；天有为咨询和喜瑞合伙与王 文博和吕冬芳属于《上市公司收购管理办法》第八十三条第二款第(十)项规定的一致行动人情形，基于 谨慎性原则认定彼此构成一致行动人。因此，王文博、吕冬芳合计控制公司91.49%股份的表决权，王 文博、吕冬芳为公司实际控制人。 天有为于2024年12月6日首发过会，上市委会议现场问询的主要问题： 1.请发行人代表结合与国内可比公司的收入、销量、净利润、市占率、产品核心技术以及终端客户和应 用技术路线对比情况等，说明公司所处行业地位情况、是否具有行业代表性。请保荐代表人发表明确意 见。 2.请发行人代表说明职工社会保险费和住房公积金缴纳比例与同行业可比公司相比偏低的原因，缴纳情 况是否符合相关法律法规的规定，会计处理是否符合企业会计准则规定，相关内部控制制度和执行情 况。请保荐代表人发表明确意见。 中国经济网北京4月24日讯今日，黑 ...

在技术创新方面，天有为始终走在行业前列。截至2024年12月31日，公司拥有境内专利134项，其中发 明专利52项、实用新型专利70项、外观设计专利12项，还拥有国际专利1项和软件著作权18项。这些技 术成果不仅提升了产品的性能和质量，还为公司开拓市场奠定了坚实基础。例如，公司的复合屏技术在 全液晶组合仪表和双联屏仪表中得到广泛应用，有效提升了产品的显示效果，同时降低了生产成本，增 强了产品在市场上的竞争力。 随着汽车智能化、网联化的发展趋势日益显著，天有为精准把握行业脉搏。在仪表盘数字化及智能座舱 发展的浪潮下，公司提前布局，于2015-2019年间成功研发出全液晶组合仪表、双联屏仪表等产品，并 迅速获得了市场的认可，陆续取得多家客户订单。从产品单价来看，全液晶组合仪表及双联屏仪表的单 价相对较高，随着市场对这些产品需求的不断增加，将进一步推动公司的经营业绩向好发展。 此次上市，天有为募集的资金将用于汽车电子智能工厂建设、智能座舱生产基地建设、汽车电子研发中 心建设以及信息化系统建设等项目，并补充流动资金。这些项目的实施，将有助于公司进一步扩大生产 规模，提升产品产能，优化产品结构，增强研发实力，从而更好地 ...

2025年4月24日，汽车仪表"隐形冠军"——天有为正式登陆上交所主板（证券代码：603202），以93.5元/股的发行价，为目前A股市场年内发行价最高的新 股，也是近14个月来发行价最高的新股。首日开盘股价即飙升至140元，涨幅达49.73%，市值突破220亿元。 从仪表供应商到智能座舱整合者 天有为的第二曲线想象空间 随着中美贸易摩擦长期化，中国制造业正加快"自主可控"步伐，核心技术国产替代步伐显著提速。汽车电子作为车用信息化的中枢系统，是汽车"智能化大 脑"的核心。天有为在液晶仪表、光学贴合、双联屏等方向不断打破海外技术垄断，逐步实现国产替代。 天有为深耕汽车仪表行业20年，积累了丰富的行业经验和技术优势，凭借其深厚的技术积累、优质的客户资源以及精准的战略布局，正逐渐崭露头角，成为 行业内备受瞩目的企业。 作者：七佰 天有为在技术研发方面投入巨大，拥有三大研发中心和EMC实验室。截至2024年6月30日，其已取得专利135项，其中发明52项、国际专利1项，获得软件著 作权18项，年均申请专利超50项，转化成700余种产品，研发人员占比达31%，技术密度在国产汽车电子企业中位列前15%。 尤其在复合屏技术 ...

Core Viewpoint - The A-share market experienced a narrow fluctuation with certain sectors such as electricity, CXO, and vitamins showing strength despite overall market weakness [2][3]. A-share Market Performance - The A-share market showed a slight decline with the Shanghai Composite Index down by 0.1%, Shenzhen Component down by 0.66%, North Star 50 Index down by 2.8%, and ChiNext Index down by 0.68% [3]. - Key performing sectors included daily chemicals, coal, paper, and agriculture, while software services, internet, mineral products, and IT equipment sectors faced declines [3]. Sector Highlights Electricity Sector - The electricity sector saw significant gains with multiple stocks hitting the daily limit up, including Huayin Power (600744) up by 10% to 3.85, Xichang Power (600505) up by 9.97% to 17.31, and Chenzhou International (600969) up by 9.95% to 8.07 [4]. - Other notable performers included Shaoneng Co. (000601) up by 9.93% and Guangxi Energy (600310) up by 8.24% [4]. CXO Sector - The CXO sector exhibited strong performance with Jin Kai Biotechnology (301509) hitting the daily limit up, and Hehua Co. (000953), Kailaiying A-shares, and Lingkang Pharmaceutical (603669) also reaching the limit up [5]. - Kailaiying's Hong Kong shares surged by over 19% during the session [5]. Vitamin Sector - The vitamin concept sector showed notable strength, contributing to the overall positive performance of the market [4]. New Stock Listings - Two new stocks were listed in the A-share market, both experiencing significant increases [9]. - Jiangshun Technology (001400) saw a peak increase of over 120% during trading, focusing on aluminum profile extrusion molds and related equipment [10]. - Tianyouwei (603202) also performed well, with a peak increase nearing 50%, specializing in automotive instrument development and production [11]. Hong Kong Market Performance - The Hong Kong market experienced a decline, with the Hang Seng Index dropping over 1% [12][13]. - Notable declines were observed in major stocks such as Meituan-W and JD.com [13]. - However, New Oriental-S saw a rise of over 6% following the release of its financial results for the third quarter of the 2025 fiscal year, reporting a slight decrease in net revenue but an increase in operating profit [14].