Group 1: New Listings - Jiangsu Xihua New Energy Technology Co., Ltd. listed on the Shanghai Stock Exchange main board on December 23, raising 1.01 billion yuan, with a first-day stock price increase of 264.46% and a market cap of approximately 11.4 billion yuan as of December 29 [3][5] - Ningbo Jianxin Superconducting Technology Co., Ltd. listed on the Shanghai Stock Exchange Sci-Tech Innovation Board on December 24, raising 779 million yuan, with a first-day stock price increase of 212.81% and a market cap of approximately 7.9 billion yuan as of December 29 [3][5] - Shenzhen Tian Su Measurement and Testing Co., Ltd. listed on the Shenzhen Stock Exchange ChiNext on December 23, raising 600 million yuan, with a first-day stock price increase of 174.48% and a market cap of approximately 6.8 billion yuan as of December 29 [4][5] - Nabai Chuan New Energy Co., Ltd. also listed on the Shenzhen Stock Exchange ChiNext on December 23, raising 632 million yuan, with a first-day stock price increase of 408.17% and a market cap of approximately 10.1 billion yuan as of December 29 [4][5] Group 2: Companies Passing Review - Shijiazhuang Vision Technology Co., Ltd. passed the review for listing on the Shanghai Stock Exchange Sci-Tech Innovation Board on December 24, focusing on micro-display solutions [6][8] - Luoyang Shenglong Mining Group Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange main board on December 23, engaged in non-ferrous metal mining [9][10] - Hangzhou Fuen Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange main board on December 26, specializing in eco-friendly fabric [9][10] - Shenzhen Dapu Microelectronics Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange ChiNext on December 25, focusing on enterprise-level SSD products [9][10] - Nanchang Sanrui Intelligent Technology Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange ChiNext on December 26, specializing in drone and robot power systems [9][10] Group 3: Companies Submitting IPO Applications - Tianjin Fujida Bicycle Industrial Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange main board on December 24, planning to raise 773 million yuan [12][14] - Shenyang Compressor Group Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange main board on December 25, planning to raise 2.134 billion yuan [12][19] - Shenzhen Hanno Medical Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 23, planning to raise 1.062 billion yuan [12][23] - Dandong Oriental Measurement and Control Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 25, planning to raise 1.1 billion yuan [12][25] - Suzhou Tongxin Medical Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 26, planning to raise 1.064 billion yuan [12][27] - Shenzhen Deep Blue Ocean Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 26, planning to raise 1.5 billion yuan [12][29] Group 4: Financial Data Highlights - Fujida projected revenues of 4.371 billion yuan, 3.621 billion yuan, and 4.880 billion yuan from 2022 to 2024, with net profits of 348 million yuan, 285 million yuan, and 408 million yuan respectively [17][18] - Shenyang Compressor Group projected revenues of 7.396 billion yuan, 8.206 billion yuan, and 9.309 billion yuan from 2022 to 2024, with net profits of 181 million yuan, 355 million yuan, and 442 million yuan respectively [20][21] - Hanno Medical projected revenues of 0, 298 million yuan, and 493 million yuan from 2022 to 2024, with net losses of 647 million yuan, 3.41 billion yuan, and 1.83 billion yuan respectively [24] - Oriental Measurement and Control projected revenues of 603 million yuan, 521 million yuan, and 567 million yuan from 2022 to 2024, with net profits of 92.5 million yuan, 74.8 million yuan, and 73.1 million yuan respectively [26] - Tongxin Medical projected revenues of 8.611 million yuan, 50.453 million yuan, and 77.351 million yuan from 2022 to 2024, with net losses of 1.89 billion yuan, 3.06 billion yuan, and 3.72 billion yuan respectively [28]

Summary of Key Points Core Viewpoint - The A-share market will see four new stocks listed during the last three trading days of 2025, with no new stock subscriptions available for investors during this period. The recent trend shows a strong "profit effect" from new stocks, with significant gains reported on their first trading days. Group 1: Upcoming New Stock Listings - Four new stocks will be listed on the A-share market: Yufan Technology (001396), Qiangyi Semiconductor (688809), Shuangxin Environmental Protection (001369), and Hengdong Optical Communication Technology (920045) [1][3] - Yufan Technology will be listed on December 30, 2025, while Hengdong Optical Communication will be listed on December 31, 2025 [3] Group 2: Recent New Stock Performance - Last week, five new stocks were listed, with four of them achieving significant first-day gains. Notably, Nabai Chuan's stock saw a first-day profit of 46,200 yuan per subscription [1][10] - Jiangsu Xihua New Energy Technology's stock had a first-day closing price of 36.81 yuan, up 264.46% from its issue price of 10.1 yuan, resulting in a profit of 13,352 yuan per subscription [11] - Nabai Chuan's stock closed at 115 yuan, a 408.18% increase from its issue price of 22.63 yuan, yielding a profit of 46,200 yuan per subscription [12] Group 3: Company Profiles of New Listings - Yufan Technology focuses on underground pipeline detection and has over 60 relevant qualifications and certifications [4][5] - Qiangyi Semiconductor specializes in semiconductor design and manufacturing, particularly in the development and production of MEMS probe cards, breaking the foreign monopoly in this field [6] - Shuangxin Environmental Protection is engaged in the production and sales of polyvinyl alcohol (PVA) and related chemical materials, with a complete PVA industry chain [7] - Hengdong Optical Communication develops and manufactures passive optical devices, with a focus on AI data center networks and long-term partnerships with major clients [9]

Group 1 - The new stock and newly listed sector continues to exhibit a speculative trend, with localized highlights becoming more pronounced. The current adjustment cycle has lasted nearly four months, and the negative impact from the failure to reach a bottom in early December is expected to have been digested over the past few weeks. A turning point for this adjustment cycle may be approaching [1][2][13] - The average increase in the new stock sector since the beginning of 2024 is approximately 1.2%, with about 60.1% of stocks achieving positive returns, indicating a recovery from the previous week’s average decline of -2.0% [1][13][28] - External catalysts are increasing, including the central bank's encouragement to raise long-term capital investment in A-shares, which may boost overall market risk appetite. Additionally, the Shanghai Stock Exchange's new listing standards for commercial aerospace companies may enhance trading enthusiasm in current popular themes [2][13] Group 2 - The focus remains on technology sectors, particularly in areas such as AI computing power, robotics, and commercial aerospace, which have significant long-term growth potential. Continuous attention and active search for emerging hotspots within these sectors are recommended [3][13] - For sectors that are currently popular, it is advised to manage the rhythm of adjustments and consider rotational investments, including innovative pharmaceuticals, new energy, new consumption, and non-ferrous chemicals [3][13] Group 3 - Upcoming new stocks include Qiangyi Co., Yufan Technology, Shuangxin Environmental Protection, and Hengdong Light [4][33] - Last week, three new stocks were available for online subscription, with an average issuance price-earnings ratio of 18.7X and an average subscription success rate of 0.0210% [5][21] - The average first-day increase for newly listed stocks last week was approximately 265%, indicating sustained high trading enthusiasm, although this was a slight decrease from the previous week’s average of 343% [5][25][26]

国泰海通证券股份有限公司 关于江苏锡华新能源科技股份有限公司 调整募投项目拟投入金额的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为江 苏锡华新能源科技股份有限公司（以下简称"锡华科技"、"公司"或"发行人"） 首次公开发行股票并在沪市主板上市的保荐人，根据《证券发行上市保荐业务管 理办法》《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》《上海证券交易所股票上市规则》等有关法律法规和规范 性文件的要求，就锡华科技调整募投项目拟投入金额的事项进行了审慎核查，并 发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意江苏锡华新能源科技股份有限公司首 次公开发行股票注册的批复》（证监许可〔2025〕2102 号）核准，公司首次公开 发行股票 10,000.0000 万股，每股发行价格为人民币 10.10 元，募集资金总额为 人民币 101,000.00 万元，扣除各项发行费用后实际募集资金净额为人民币 92,576.57 万元。上述募集资金到位情况已经立信会计师事务所（特殊普通合伙） 验证，并由其出具信会师报字[2025]第 ...

国泰海通证券股份有限公司 关于江苏锡华新能源科技股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为江 苏锡华新能源科技股份有限公司（以下简称"锡华科技"、"公司"或"发行人"） 首次公开发行股票并在沪市主板上市的保荐人，根据《证券发行上市保荐业务管 理办法》《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》《上海证券交易所股票上市规则》等有关法律法规和规范 性文件的要求，就锡华科技使用暂时闲置募集资金进行现金管理的事项进行了审 慎核查，并发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意江苏锡华新能源科技股份有限公司首 次公开发行股票注册的批复》（证监许可〔2025〕2102 号）核准，公司首次公开 发行股票 10,000.0000 万股，每股发行价格为人民币 10.10 元，募集资金总额为 人民币 101,000.00 万元，扣除各项发行费用后实际募集资金净额为人民币 92,576.57 万元。上述募集资金到位情况已经立信会计师事务所（特殊普通合伙） 验证，并由其出具 ...

国泰海通证券股份有限公司 关于江苏锡华新能源科技股份有限公司 使用自有资金、银行承兑汇票、信用证等方式支付募投项目 款项并以募集资金等额置换的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为江 苏锡华新能源科技股份有限公司（以下简称"锡华科技"、"公司"或"发行人"） 首次公开发行股票并在沪市主板上市的保荐人，根据《证券发行上市保荐业务管 理办法》《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》《上海证券交易所股票上市规则》等有关法律法规和规范 性文件的要求，就锡华科技使用自有资金、银行承兑汇票、信用证等方式支付募 投项目款项并以募集资金等额置换的事项进行了审慎核查，并发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意江苏锡华新能源科技股份有限公司首 次公开发行股票注册的批复》（证监许可〔2025〕2102 号）核准，公司首次公开 发行股票 10,000.0000 万股，每股发行价格为人民币 10.10 元，募集资金总额为 人民币 101,000.00 万元，扣除各项发行费用后实际募集资金净额为人民币 92,576. ...

国泰海通证券股份有限公司 关于江苏锡华新能源科技股份有限公司 使用募集资金向全资子公司借款以实施募投项目的 一、募集资金基本情况 经中国证券监督管理委员会《关于同意江苏锡华新能源科技股份有限公司首 次公开发行股票注册的批复》（证监许可〔2025〕2102 号）核准，公司首次公开 发行股票 10,000.0000 万股，每股发行价格为人民币 10.10 元，募集资金总额为 人民币 101,000.00 万元，扣除各项发行费用后实际募集资金净额为人民币 92,576.57 万元。上述募集资金到位情况已经立信会计师事务所（特殊普通合伙） 验证，并由其出具信会师报字[2025]第 ZF11323 号《验资报告》。 上述募集资金已全部存放于募集资金专户管理，公司及相关子公司与存放募 集资金的商业银行、保荐人签订了募集资金监管协议。 二、募集资金投资项目的基本情况 根据《江苏锡华新能源科技股份有限公司首次公开发行股票并在主板上市招 股说明书》及《关于调整公司募集资金投资项目拟投入募集资金金额的公告》， 公司调整后募集资金投资项目基本情况如下： 1 单位：万元 | 序号 | 项目名称 | 项目总投资 | 拟投入募集资金额 ...

证券代码：603248 证券简称：锡华科技 公告编号：2025-003 江苏锡华新能源科技股份有限公司 关于使用部分闲置募集资金进行现金管理的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 投资种类：安全性高、流动性好的保本型理财产品（单项产品的产品 期限最长不超过 12 个月，包括但不限于结构性存款、通知存款、大额存单、 收益凭证等）。该现金管理产品不得用于质押，不用于以证券投资为目的的投 资行为。 投资金额：不超过人民币 5 亿元（含本数）的闲置募集资金。 已履行的审议程序：公司于 2025 年 12 月 24 日召开第二届董事会审 计委员会第二次会议、第二届董事会第四次会议，分别审议通过了《关于使 用部分闲置募集资金进行现金管理的议案》，保荐人国泰海通证券股份有限公 司对该事项出具了无异议的核查意见，该事项无需提交公司股东会审议。 特别风险提示：尽管公司拟选择安全性高、流动性好的保本型理财产 品，但金融市场受宏观经济的影响较大，不排除该项投资受到市场波动的影 响，公司将根据经济形势以及金融市场的变化 ...

首次公开发行股票 10,000.0000 万股，每股发行价格为人民币 10.10 元，募集资 金总额为人民币 101,000.00 万元，扣除各项发行费用后实际募集资金净额为人 民币 92,576.57 万元。上述募集资金到位情况已经立信会计师事务所（特殊普通 合伙）验证，并由其出具信会师报字[2025]第 ZF11323 号《验资报告》。 上述募集资金已全部存放于募集资金专户管理，公司及相关子公司与存放募 集资金的商业银行、保荐人签订了募集资金监管协议。 二、本次调整募投项目拟投入金额的基本情况及原因 证券代码：603248 证券简称：锡华科技 公告编号：2025-004 江苏锡华新能源科技股份有限公司 关于使用募集资金向全资子公司借款以实施募投 项目的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 江苏锡华新能源科技股份有限公司（以下简称"公司"或"锡华科技"）于 2025 年 12 月 24 日召开第二届董事会审计委员会第二次会议、第二届董事会 第四次会议，分别审议通过了《关于使用募集资金向全资子公司借款以实施募投 ...

证券代码：603248 证券简称：锡华科技 公告编号：2025-002 江苏锡华新能源科技股份有限公司 关于使用自有资金、银行承兑汇票、信用证等方式支 付募投项目款项并以募集资金等额置换的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 江苏锡华新能源科技股份有限公司（以下简称"公司"或"锡华科技"）于 2025 年 12 月 24 日召开第二届董事会审计委员会第二次会议、第二届董事会 第四次会议，分别审议通过了《关于使用自有资金、银行承兑汇票、信用证等方 式支付募投项目款项并以募集资金等额置换的议案》，同意公司及子公司在募投 项目实施期间，根据实际情况并经内部相关审批后使用自有资金、银行承兑汇票、 信用证等方式先行支付募投项目所需资金，并定期以募集资金等额置换，即从募 集资金专户划转等额资金至自有资金账户，该部分等额置换资金视同募投项目使 用资金。公司审计委员会对该事项发表了明确同意的意见，保荐人国泰海通证券 股份有限公司对该事项出具了无异议的核查意见。现将相关情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员 ...