证券代码：688133 证券简称：泰坦科技 公告编号：2025-045 2025 年 11 月 29 日 1 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、准确性和完整性依法承担法律责任。 上海泰坦科技股份有限公司（以下简称公司）于2025年8月20日召开第四届 董事会第十八次会议，于2025年9月5日召开2025年度第一次临时股东大会，审议 通过了《关于公司拟申请注册发行短期融资券的议案》。根据公司战略发展规划 及资金需求，公司拟向中国银行间市场交易商协会申请注册发行规模不超过1亿 元（含1亿元）的短期融资券（即科技创新债券）。具体内容详见公司于2025年8 月21日在指定媒体披露的《上海泰坦科技股份有限公司关于公司拟申请注册发行 短期融资券的公告》（公告编号：2025-030）。 公司已于近日完成了上海泰坦科技股份有限公司2025年度第一期科技创新 债券[债券简称：25泰坦科技CP001（科创债）]的发行。本期债券发行额为5,000.00 万元人民币，期限为365日，债券面值为人民币100.00元，发行利率为3.19%。本 期债券由上海农村商业银行股 ...

Core Viewpoint - Titan Technology and its affiliate, Shanghai Titan HeYuan Phase I Private Investment Fund, plan to jointly invest in Titan MicroSource Testing Technology Co., Ltd, increasing its registered capital from 10 million to 50 million yuan, with Titan holding 70% and the fund holding 30% after the investment [2][4]. Group 1: Investment Overview - The investment aims to enhance the overall development strategy and business needs of the company [4]. - The registered capital of MicroSource Testing will increase by 40 million yuan, with Titan contributing 25 million yuan and the fund contributing 15 million yuan [2][4]. - The funding for Titan's investment will come from its own funds [2]. Group 2: Transaction Details - The investment constitutes a related party transaction but does not qualify as a major asset restructuring under relevant regulations [3][8]. - The transaction has been approved by the company's board and does not require shareholder approval [3][8][20]. - In the past 12 months, related party transactions have not exceeded 1% of the company's audited total assets or market value, and have not surpassed 30 million yuan [3][9]. Group 3: Target Company Information - MicroSource Testing was established in February 2025 and focuses on laboratory services, including verification and testing services, equipment leasing, and key component R&D [12]. - The company has not yet commenced operations and will rely on Titan for initial support, including technical management and resources [12]. - As the business expands, MicroSource Testing will develop its own operational and technical teams [12]. Group 4: Investment Rationale and Impact - The joint investment is intended to improve the company's business layout and integrate resources for enhanced competitive advantage [18]. - The investment will not affect the company's normal operations or independence, as both parties are using their own funds [18]. - The transaction is based on voluntary, fair, and reasonable principles, ensuring no harm to the interests of the company or its shareholders [18][20].

Core Viewpoint - Titan Technology announced a joint investment with its affiliate, Shanghai Titan He Yuan Phase I Private Investment Fund Partnership (Limited Partnership), to increase capital in its subsidiary, Shanghai Titan Micro Source Testing Technology Co., Ltd. [1] Group 1: Investment Details - The current registered capital of Micro Source Testing is 10 million yuan, fully owned by Titan Technology [1] - After the capital increase, the registered capital will rise to 50 million yuan, with Titan Technology holding 70% and the Phase I Fund holding 30% [1] - The additional 40 million yuan in registered capital will be contributed by Titan Technology (25 million yuan) and the Phase I Fund (15 million yuan), with Titan Technology using its own funds for this investment [1] Group 2: Transaction Nature - This investment is classified as a related party transaction due to the involvement of an affiliate [1]

Group 1 - Aolide plans to raise no more than 300 million yuan through a simplified procedure for issuing shares to specific targets, with net proceeds allocated to the production base project for OLED display core materials and to supplement working capital [1] - Wanbang's subsidiary has obtained a 10-year exclusive agency for sildenafil oral suspension, which is suitable for patients with swallowing difficulties [2] - Titan Technology and its affiliate plan to jointly invest in increasing capital for its subsidiary, Micro Detection, raising its registered capital from 10 million yuan to 50 million yuan [3] Group 2 - Jindike will not issue new batches of quadrivalent influenza virus split vaccine this year, having produced approximately 1.56 million doses [4] - Aladdin intends to purchase 35% equity of Youke for 61.25 million yuan, funded by its own or raised capital [5] - Gujia Home's application for a private placement of A-shares has been approved by the Shanghai Stock Exchange [7] Group 3 - Honghe Technology's application for a private placement of A-shares has been approved by the China Securities Regulatory Commission [9] - Guangdian Yuntong has won contracts totaling 308 million yuan for the construction of an artificial intelligence application pilot base [10] - Shanghai Mechanical plans to repurchase B-shares worth no more than 278 million yuan [11] Group 4 - Weiling Co. is planning a change of control, with shares representing 7.76% of the total being transferred [14] - Jiugang Hongxing intends to invest 200 million yuan to establish a wholly-owned subsidiary focusing on high-quality special steel materials [16] - Zhongjian Technology has submitted an application for H-share listing [17] Group 5 - Sainuo Medical has received registration approval for its coronary product in Pakistan [18] - Huafeng Aluminum plans to acquire 100% equity of Huafeng Puen for 100 million yuan [20] - Fuda Co. intends to establish a wholly-owned subsidiary with an investment of 30 million yuan [22] Group 6 - Su Yan Jingshen's application for a private placement of shares has been approved by the Shanghai Stock Exchange [24] - Zhongchuang Co. has set the inquiry transfer price at 25.75 yuan per share [25] - Jinpu Garden has had a lawsuit involving 26.557 million yuan accepted by the court [29] Group 7 - ICBC has approved the appointment of Zhao Guid as vice president [30] - Betta Pharmaceuticals has had its drug registration application for ensartinib accepted [32] - Times New Materials plans to invest 6 million euros to establish a wholly-owned subsidiary in Serbia [34] Group 8 - China State Construction has appointed Chen Yong as vice president [36] - Dayang Electric plans to invest 10 million yuan to establish an industrial fund [38] - Advanced Digital has appointed Liu Zhigang as deputy general manager [39] Group 9 - Tianqi Co. plans to transfer 7% equity of Youqi Intelligent for 130 million yuan [40] - Xinguo has submitted an application for H-share issuance and listing [42] - Jinhongshun's shareholder has terminated a share reduction plan [43] Group 10 - Wanrun Co.'s actual controller plans to increase shareholding between 365 million yuan and 730 million yuan [44] - Suzhou High-tech plans to sell 47% equity of its medical device subsidiary for 604 million yuan [45] - Huayou Cobalt's subsidiary has signed a product supply agreement with Yiwei Lithium Energy for approximately 127,800 tons of materials [47] Group 11 - China Communications has won 10 important projects totaling approximately 2.539 billion yuan [49] - Nopushin plans to raise no more than 1.45 billion yuan through a private placement [50] - Yun Aluminum plans to acquire minority stakes in three subsidiaries for a total of 2.267 billion yuan [51] Group 12 - Xiamen Tungsten plans to establish a 500 million yuan merger fund with multiple parties [52] - Aotewei has signed a contract worth approximately 700 million yuan [54] - Hemai Co.'s shareholders plan to reduce their holdings by no more than 3% [56]

证券代码：688133 证券简称：泰坦科技 公告编号：2025-044 上海泰坦科技股份有限公司 关于公司与关联方共同投资暨关联交易的公告 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、准确性和完整性依法承担法律责任。 重要内容提示 上海泰坦科技股份有限公司（以下简称"泰坦科技"或"上市公司"或"公 司"）和关联方上海泰坦合源一期私募投资基金合伙企业（有限合伙）（以下简 称"一期基金"）拟共同投资，对泰坦科技控股子公司上海泰坦微源检测技术有 限公司（以下简称"标的"或"微源检测"）进行增资。增资前，微源检测注册 资本为 1000 万元，泰坦科技 100%持股；增资后，微源检测注册资本为 5000 万元， 其中泰坦科技持股 70%，一期基金持股 30%。微源检测新增的 4000 万元注册资本， 泰坦科技认缴 2500 万元，一期基金认缴 1500 万元，泰坦科技资金来源为自有资 金。 本次投资系与关联方共同投资，构成关联交易，但不构成《上市公司重 大资产重组管理办法》规定的重大资产重组，交易实施亦不存在重大法律障碍。 至本次关联交易为止，过去 12 个月内 ...

Core Viewpoint - Titan Technology (688133.SH) plans to increase capital in MicroSource Detection, reflecting the company's overall development strategy and business needs [1] Group 1: Investment Details - The registered capital of MicroSource Detection before the capital increase was 10 million yuan, fully owned by Titan Technology [1] - After the capital increase, the registered capital will rise to 50 million yuan, with Titan Technology holding 70% and the first-phase fund holding 30% [1] - The additional 40 million yuan in registered capital will be contributed by Titan Technology (25 million yuan) and the first-phase fund (15 million yuan), with Titan Technology using its own funds for this investment [1] Group 2: Company Overview - MicroSource Detection was established in February 2025 and focuses on three core areas: validation and testing services, rental and after-sales of analytical testing instruments, and R&D of key components for analytical testing equipment [1] - The company aims to become a leading independent biochemical laboratory one-stop service platform in China [1] - Currently, MicroSource Detection has not commenced operations and will rely on Titan Technology for initial support, including technical management, industry resources, and some facilities and equipment [1] Group 3: Future Development - As MicroSource Detection expands its business, it plans to establish an independent operational team, technical team, and ERP system, functioning as a wholly-owned subsidiary of Titan Technology [1]

Group 1: Target Price Increases - The target price increases for listed companies from November 17 to November 23 show significant growth, with Wan Feng Ao Wei, Guang Xun Technology, and Tai Chen Guang leading with target price increases of 89.64%, 81.99%, and 71.51% respectively, all belonging to the automotive parts and communication equipment sectors [1][2] - The top three companies with the highest target price increases are as follows: - Wan Feng Ao Wei (89.64%) - Guang Xun Technology (81.99%) - Tai Chen Guang (71.51%) [2] Group 2: Broker Recommendations - A total of 408 listed companies received broker recommendations during the same period, with Yili Co. receiving the highest number of recommendations at 5, followed by Top Group and United Imaging Medical with 4 recommendations each [3] - The companies with the most broker recommendations are: - Yili Co. (5 recommendations) - Top Group (4 recommendations) - United Imaging Medical (4 recommendations) [3] Group 3: Rating Adjustments - During the period, 3 companies had their ratings upgraded, including Huadong Heavy Machinery from "Hold" to "Buy" by Caixin Securities, Sinopec from "Buy" to "Strong Buy" by Huatai Securities, and Hongyuan Electronics from "Buy" to "Strong Buy" by CITIC Securities [4] - The companies with upgraded ratings are: - Huadong Heavy Machinery (from Hold to Buy) - Sinopec (from Buy to Strong Buy) - Hongyuan Electronics (from Buy to Strong Buy) [4] Group 4: Rating Downgrades - In contrast, 7 companies had their ratings downgraded, including Solar Energy from "Strong Buy" to "Buy" by Huachuang Securities, and Source Technology from "Buy" to "Hold" by Western Securities [5] - The companies with downgraded ratings are: - Solar Energy (from Strong Buy to Buy) - Source Technology (from Buy to Hold) - Titan Technology (from Strong Buy to Buy) [5] Group 5: First Coverage - A total of 77 instances of first coverage were reported, with Delijia receiving an "Outperform" rating from Guosen Securities, and YTO Express, Yanjian Co., and Far East Co. receiving "Buy" or "Hold" ratings from various brokers [6] - The companies receiving first coverage include: - Delijia (Outperform) - YTO Express (Buy) - Far East Co. (Buy) [6]

Group 1 - The core viewpoint of the articles highlights significant changes in stock ratings and target prices for various companies, with notable increases for Wan Feng Ao Wei, Guang Xun Technology, and Tai Chen Guang [1] - Wan Feng Ao Wei's target price increased by 89.64%, Guang Xun Technology by 81.99%, and Tai Chen Guang by 71.51%, all within the automotive parts and communication equipment sectors [1] - A total of 408 companies received broker recommendations during the period, with Yili receiving 5 recommendations, and Top Group and United Imaging Medical receiving 4 each [1] Group 2 - Three companies had their ratings upgraded, including Huadong Heavy Machine from "Hold" to "Buy" by Caixin Securities, Sinopec from "Add" to "Buy" by Huatai Securities, and Hongyuan Electronics from "Add" to "Buy" by CITIC Securities [1] - Seven companies had their ratings downgraded, including Solar Energy from "Strong Buy" to "Recommended" by Huachuang Securities, Source Technology from "Buy" to "Add" by Western Securities, and Titan Technology from "Strong Buy" to "Recommended" by Huachuang Securities [1] - During the same period, 77 instances of first-time coverage were reported, with Delijia receiving an "Outperform" rating from Guosen Securities, and YTO Express, Yanjiang Co., and Far East Co. receiving "Add" or "Buy" ratings from various brokers [2]

Investment Rating - The report has downgraded the investment rating to "Recommendation" with a target price of 25.6 CNY, indicating a potential upside of 16% from the current price of 22.15 CNY [2][8]. Core Views - The company is experiencing revenue and profit pressure in Q3 2025, with a year-on-year revenue decline of 13.75% and a significant drop in net profit by 69.57% in the same quarter [2][8]. - Despite short-term performance challenges, the long-term outlook for the scientific services industry remains positive, with expectations of a recovery in downstream demand leading to a performance inflection point [8]. - The company is actively restructuring its business to focus on higher-margin operations, which has resulted in a slight improvement in gross margin to 22.15% [8]. Financial Summary - For the first three quarters of 2025, the company reported a total revenue of 1.848 billion CNY, down 13.06% year-on-year, while net profit attributable to shareholders was 11 million CNY, up 15.04% year-on-year [2][8]. - The projected revenues for 2025 to 2027 are 2.634 billion CNY, 2.812 billion CNY, and 3.072 billion CNY, respectively, with expected growth rates of -8.6%, 6.7%, and 9.2% [4][9]. - The net profit forecast for the same period is 16 million CNY, 36 million CNY, and 59 million CNY, with growth rates of 23.8%, 125.7%, and 64.4% respectively [4][9]. - The company has a current market capitalization of 3.642 billion CNY and a debt-to-equity ratio of 55.3% [5][9].

Company Overview - Titan Technology Co., Ltd. is located at 89 Shilong Road, Xuhui District, Shanghai, established on October 18, 2007, and listed on October 30, 2020 [1] - The company provides integrated technical solutions for scientific services, including research reagents, biological consumables, analytical consumables, laboratory instruments, smart laboratory equipment, research information technology, specialty chemicals, and related comprehensive technical services [1] - The revenue composition of Titan Technology is as follows: research reagents 42.70%, research instruments and consumables 28.42%, specialty chemicals 26.48%, laboratory construction and research information technology 2.37%, and others 0.02% [1] Financial Performance - As of September 30, Titan Technology reported a total revenue of 1.848 billion yuan for the period from January to September 2025, a year-on-year decrease of 13.06% [2] - The net profit attributable to the parent company was 11.1678 million yuan, reflecting a year-on-year increase of 15.04% [2] - Cumulative cash dividends since the A-share listing amount to 86.6205 million yuan, with 40.1089 million yuan distributed over the past three years [3] Stock Performance - On November 20, Titan Technology's stock price decreased by 2.01%, trading at 22.92 yuan per share, with a total market capitalization of 3.769 billion yuan [1] - The stock has seen a year-to-date increase of 26.14%, but has declined by 7.99% over the last five trading days, 8.14% over the last 20 days, and 18.26% over the last 60 days [1] - As of the latest data, the number of shareholders is 9,293, an increase of 20.41% from the previous period, while the average circulating shares per person decreased by 16.95% to 17,694 shares [2] Market Activity - The net outflow of main funds was 4.5418 million yuan, with large orders buying 4.3981 million yuan (16.17% of total) and selling 8.9399 million yuan (32.87% of total) [1] - Titan Technology is categorized under the basic chemicals industry, specifically in the chemical products sector, and is associated with concepts such as buybacks, margin financing, pension concepts, scientific instruments, and electronic chemicals [1]