1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - The target price of Weidao Convertible Bond on the first day of listing is expected to be between 127 - 130 yuan, and investors are advised to actively subscribe. The expected conversion premium rate on the first - day of listing is in the range of 26% - 29% [3][22]. - The expected first - day new - bond subscription winning rate is around 0.0029% - 0.0057% [4][23]. - The issuance of convertible bonds by Weidao Nano is a necessary choice to conform to the industry development trend, enhance the company's market competitiveness, optimize the company's capital structure, and provide guarantee for the company's development [3][21]. 3. Summary According to the Directory 3.1 Micro - guide Convertible Bond New - bond Analysis and Investment Suggestions 3.1.1 Convertible Bond Basic Terms Analysis - The issuance method of Weidao Convertible Bond is priority placement and online issuance, with a bond and issuer rating of AA. The issuance scale is 1.17 billion yuan, the initial conversion price is 33.57 yuan, the bond parity on August 4, 2025, is 100.63 yuan, the pure bond value is 99.1 yuan. The game terms (down - revision, redemption, and put - back clauses) are normal. The bond has a relatively high issuance scale, good liquidity, acceptable rating, and good bond floor protection. It is easy for institutions to include it in their portfolios, and there is no objection to primary participation [2][18]. 3.1.2 New - bond Initial Price Analysis - The company's main business is the R & D, production, and sales of advanced micron - and nano - scale thin - film deposition equipment, providing cutting - edge thin - film deposition equipment, supporting products, and services to downstream customers. The funds raised from this issuance are mainly used for the "Intelligent Factory Construction Project of Semiconductor Thin - film Deposition Equipment", the "R & D Laboratory Expansion Project", and supplementing working capital [3][21]. - Based on the valuation of similar convertible bonds and considering the current market environment and parity level, the conversion premium rate of Weidao Convertible Bond on the first day of listing is expected to be in the range of 26% - 29%, corresponding to a first - day target price of around 127 - 130 yuan [3][22]. 3.1.3 Convertible Bond New - bond Subscription Winning Rate Analysis - Assuming the old shareholders' placement ratio is 60% - 80%, the scale of Weidao Convertible Bond available to the market is 234 million - 468 million yuan. Assuming the online effective subscription volume is 8.2 million households, the winning rate is around 0.0029% - 0.0057% [4][23]. 3.2 Underlying Stock Fundamental Analysis 3.2.1 Company's Main Business and Industry Up - and Downstream Situation - The company's main business is the R & D, production, and sales of advanced micron - and nano - scale thin - film deposition equipment, providing related equipment, products, and services to downstream customers. The upstream includes component suppliers and外协加工商, and the company has a stable supply relationship. The downstream customers are mainly semiconductor chip manufacturers and photovoltaic cell manufacturers. The thin - film deposition equipment is crucial for the downstream's technology implementation and iteration [24][26]. 3.2.2 Company's Operating Conditions - The company's operating income has grown rapidly in recent years. From 2022 to Q1 2025, the operating income was 685 million yuan, 1.68 billion yuan, 2.7 billion yuan, and 510 million yuan respectively, with year - on - year growth rates of 59.96%, 145.39%, 60.74%, and 198.95% [28]. - The company's comprehensive gross profit margin has shown a slight fluctuation. From 2022 to Q1 2025, it was 42.31%, 43.64%, 39.99%, and 36.14% respectively, and the net profit margins were 7.91%, 16.1%, 8.4%, and 16.48% respectively. The fluctuation is mainly due to changes in product structure [30]. - The company's period expenses have been rising in recent years. From 2022 to Q1 2025, the total of sales, management, and financial expenses was 95 million yuan, 247 million yuan, 282 million yuan, and 57 million yuan respectively, and the period expense ratios were 13.83%, 14.7%, 10.45%, and 11.07% respectively. The R & D expenses have also increased year by year [37]. - The company's accounts receivable have been on the rise. From 2022 to Q1 2025, they were 449 million yuan, 809 million yuan, 1.05 billion yuan, and 1.06 billion yuan respectively. The accounts receivable turnover rate has fluctuated but remained at a good level [41][42]. - The company's net profit attributable to the parent has fluctuated greatly. From 2022 to Q1 2025, it was 54 million yuan, 270 million yuan, 227 million yuan, and 84 million yuan respectively, with year - on - year growth rates of 17.43%, 399.33%, - 16.16%, and 2253.57% respectively. The weighted ROE from 2022 to Q1 2025 was 5.95%, 12.6%, 9.1%, and 3.17% respectively [46]. 3.2.3 Company's Equity Structure and Major Subsidiaries - As of the end of 2024, the company's equity structure was relatively concentrated. The top two shareholders, Wanhaiying Investment and LI WEI MIN, held 233 million and 43 million shares respectively, with a combined shareholding ratio of 60.18%. The top ten shareholders held a combined ratio of 80.66%. The company has no wholly - owned subsidiaries but has two affiliated companies [48]. 3.2.4 Company's Business Characteristics and Advantages - The company has advantages in advanced technology routes, with ALD technology as the core. It also has an excellent R & D team, a complete industrial application center platform, strong technology accumulation and R & D innovation capabilities, a platform - based product matrix layout, high - quality customer resources, and efficient customer service [52][53][54]. 3.2.5 Allocation of Funds Raised in this Issuance - The company plans to issue convertible bonds to raise up to 1.17 billion yuan. Among them, 643 million yuan is planned for the "Intelligent Factory Construction Project of Semiconductor Thin - film Deposition Equipment", 227 million yuan for the "R & D Laboratory Expansion Project", and 300 million yuan for supplementing working capital [16][56].

：中信证券股份有限公司 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。 证券代码：688147 证券简称：微导纳米 公告编号：2025-047 向不特定对象发行可转换公司债券发行提示性公告 保荐人（主承销商） 特别提示 江苏微导纳米科技股份有限公司（以下简称"微导纳米"、"发行人"或 "公司"）向不特定对象发行可转换公司债券（以下简称"可转债"或"微导 转债"，债券代码"118058 "）已获得中国证券监督管理委员会证监许可 〔2025〕1404 号文同意注册。本次发行的保荐人（主承销商）为中信证券股份 有限公司（以下简称"中信证券"、"保荐人（主承销商）"或"主承销 商"）。本次发行的《江苏微导纳米科技股份有限公司向不特定对象发行可转 换公司债券募集说明书摘要》（以下简称"《募集说明书摘要》"）、《江苏 微导纳米科技股份有限公司向不特定对象发行可转换公司债券发行公告》（以 下简称"《发行公告》"）及《江苏微导纳米科技股份有限公司向不特定对象 发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）已于 2025 年 8 ...

特别提示 江苏微导纳米科技股份有限公司（以下简称"微导纳米"、"发行人"或 "公司"）向不特定对象发行可转换公司债券（以下简称"可转债"或"微导 转债"，债券代码"118058"）已获得中国证券监督管理委员会证监许可 〔2025〕1404 号文同意注册。本次发行的保荐人（主承销商）为中信证券股份 有限公司（以下简称"中信证券"、"保荐人（主承销商）"或"主承销 商"）。本次发行的《江苏微导纳米科技股份有限公司向不特定对象发行可转 换公司债券募集说明书摘要》（以下简称"《募集说明书摘要》"）、《江苏 微导纳米科技股份有限公司向不特定对象发行可转换公司债券发行公告》（以 下简称"《发行公告》"）及《江苏微导纳米科技股份有限公司向不特定对象 发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）已于 2025 年 8 月 4 日（T-2 日）在上海证券交易所网站（http://www.sse.com.cn）公告。 公司根据《中华人民共和国证券法》、《证券发行与承销管理办法》（证 监会令〔第 228 号〕）、《上市公司证券发行注册管理办法（2025 年修订）》 （证监会令〔第 227 号〕）、《上海证券交易所上 ...

金融界消息 截至2025年8月5日收盘，微导纳米（688147）报收于34.72元，上涨2.78%，换手率9.96%， 成交量10.08万手，成交金额3.44亿元。 微导纳米最新一期业绩显示，截至2025一季报，公司营业总收入5.10亿元、同比增长198.95%，归属净 利润8410.29万元，同比增长2253.57%，扣非净利润8131.63万元，同比增长525.17%，流动比率1.521、 速动比率0.736、资产负债率67.72%。 天眼查商业履历信息显示，江苏微导纳米科技股份有限公司，成立于2015年，位于无锡市，是一家以从 事专用设备制造业为主的企业。企业注册资本45767.8129万人民币，实缴资本36000万人民币。公司法 定代表人为王磊。 通过天眼查大数据分析，江苏微导纳米科技股份有限公司共对外投资了2家企业，参与招投标项目47 次，知识产权方面有商标信息89条，专利信息524条，此外企业还拥有行政许可68个。 来源：金融界 资金流向方面，今日主力资金净流入1016.09万元，占比成交额2.95%。其中，超大单净流出242.18万 元、占成交额0.7%，大单净流入1258.27万元、占成交额3 ...

截至 2025 年 7 月 31 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购股份 2,901,842 股，占公司总股本 461,157,283 股的比例为 0.63%，购 买的最高价为 30.70 元/股、最低价为 23.66 元/股，已支付的总金额为 79,526,891.92 元（不含交易费用）。 上述回购进展符合既定的回购股份方案。 证券代码：688147 证券简称：微导纳米 公告编号：2025-046 江苏微导纳米科技股份有限公司 关于 2024 年第二期以集中竞价方式回购股份进展公告 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： 回购方案首次披露日 2024/11/15，由实际控制人、董事长王磊提议 回购方案实施期限 2024 年 11 月 15 日~2025 年 11 月 14 日 预计回购金额 4,000万元~8,000万元 □减少注册资本 √用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 □为维护公司价值及股东权益 累计已回购股数 2,901,842股 累计已回 ...

证券日报网讯 8月4日晚间，微导纳米发布公告称，截至2025年7月31日，公司通过上海证券交易所交易 系统以集中竞价交易方式累计回购股份2，901，842股，占公司总股本的比例为0.63%。 （文章来源：证券日报） ...

（文章来源：每日经济新闻） 微导纳米（SH 688147，收盘价：33.78元）8月4日晚间发布公告称，截至2025年7月31日，公司通过上 海证券交易所交易系统以集中竞价交易方式累计回购股份约290万股，占公司总股本约4.61亿股的比例 为0.63%，购买的最高价为30.7元/股、最低价为23.66元/股，已支付的总金额约为7953万元。 ...

证券代码：688147 证券简称：微导纳米 公告编号：2025-046 江苏微导纳米科技股份有限公司 关于 2024 年第二期以集中竞价方式回购股份进展公告 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。 截至 2025 年 7 月 31 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购股份 2,901,842 股，占公司总股本 461,157,283 股的比例为 0.63%，购 买的最高价为 30.70 元/股、最低价为 23.66 元/股，已支付的总金额为 79,526,891.92 元（不含交易费用）。 上述回购进展符合既定的回购股份方案。 三、 其他事项 公司将严格按照《上市公司股份回购规则》《上海证券交易所上市公司自律监 管指引第 7 号——回购股份》等相关规定，在回购期限内根据市场情况择机做出 回购决策并予以实施，同时根据回购股份事项进展情况及时履行信息披露义务， 敬请广大投资者注意投资风险。 | 回购方案首次披露日 | 2024/11/15，由实际控制人、董事长王磊提议 | | | | | | | ...

每经头条（nbdtoutiao）——"我们也深陷残酷价格战"！德资巨头中国区高管警告：智驾绝不能免费， 否则会给全行业带来灾难 （记者 王晓波） 每经AI快讯，微导纳米（SH 688147，最新价：33.31元）8月3日晚间发布公告称，公司第二届第二十四 次董事会会议于2025年8月1日在公司会议室以现场结合通讯表决方式召开。会议审议了《关于公司向不 特定对象发行可转换公司债券上市的议案》等文件。 ...

Meeting Overview - The second meeting of the board of directors of Jiangsu Weidao Nano Technology Co., Ltd. was held on August 1, 2025, with all six directors present, ensuring compliance with relevant laws and regulations [1][2]. Key Resolutions - The board approved the proposal for issuing convertible bonds to unspecified objects, having received approval from the China Securities Regulatory Commission [1][3]. - The total amount of the proposed convertible bonds is RMB 1,170 million, with an issuance of 1,170,000 hands (11,700,000 pieces) [3][12]. - Each bond will have a face value of RMB 100 and will be issued at par [3][12]. - The bonds will have a term of six years, from August 6, 2025, to August 5, 2031 [3][12]. - The coupon rates are set at 0.20% for the first year, 0.40% for the second year, and will be determined for subsequent years [3][12]. Bond Conversion and Interest Payment - The bonds will pay interest annually, with the first payment occurring five trading days after the interest payment date [4][5]. - The initial conversion price is set at RMB 33.57 per share, based on the average trading price of the company's stock over the previous twenty trading days [6][12]. - The conversion period will start six months after the issuance and last until the bond maturity date [5][9]. Redemption and Buyback Provisions - Upon maturity, the company will redeem the bonds at face value plus any accrued interest [10][11]. - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for a specified period or if the unconverted bond balance is below RMB 30 million [10][11]. Shareholder Rights and Fund Management - Shareholders will have the right to participate in the bond issuance, with priority given to existing shareholders on the registration date [13][14]. - The company will establish a special account for the funds raised from the bond issuance and will sign a fund supervision agreement [16][17]. - The company’s credit rating for the bonds is AA, as assessed by a credit rating agency [12][19]. Capital Changes - The company’s registered capital will increase from RMB 457,678,129 to RMB 461,157,283 following the completion of a stock incentive plan [18][19].