Core Insights - The report emphasizes a positive outlook for the mechanical industry in 2026, driven by structural transformation and a rebound in external demand [3][4] - The report introduces a "risk排雷" manual to proactively identify potential market misjudgments and challenges within various sectors [3][4] Industry Overview - The mechanical industry is expected to experience a cyclical reversal, with growth in engineering machinery, industrial gases, shipbuilding, photovoltaic equipment, and lithium battery equipment [6][8] - Key assumptions include continued government support for emerging technology industries and a stable macroeconomic recovery [11][16] Engineering Machinery - The engineering machinery sector is witnessing a cyclical upturn, with increased overseas market share and a gradual domestic renewal cycle [17] - Key growth drivers include global market expansion, improved domestic demand due to favorable macro policies, and a stabilizing domestic infrastructure and real estate market [17] Shipbuilding - The shipbuilding industry is on an upward trend, with demand supported by a variety of vessel types and improving profitability for shipyards [19] - The sector is expected to benefit from supply constraints driving up ship prices and a focus on high-end, large-scale, dual-fuel vessels [20] Export Chain - The export chain is optimistic about demand recovery, particularly in the U.S. market, with a focus on strategic exports and emerging markets [22] - Key assumptions include a favorable trade environment and ongoing industrial shifts towards resource-rich countries [22] Industrial Gases - The industrial gases sector is viewed positively, with expectations of volume and price increases leading to improved valuations [27] - The report highlights the importance of leading companies in the sector and recommends focusing on those with operational highlights in niche markets [30] Lithium Battery Equipment - The lithium battery equipment sector is expected to emerge from a downturn, with solid-state battery technology creating significant market opportunities [51] - The report anticipates a substantial increase in market size, projecting a growth from 2.06 billion in 2025 to 33.62 billion by 2030 [51] Wind Power Equipment - The wind power industry is projected to maintain high growth, particularly in offshore wind projects, with significant investments expected [63] - The report recommends focusing on leading manufacturers and components that support the offshore wind market [64] Testing and Inspection - The testing and inspection sector is expected to see upward momentum, driven by increasing demand and a trend towards consolidation among leading firms [71] - The report emphasizes the importance of focusing on emerging fields and the long-term growth potential of comprehensive testing companies [71] Rail Transit Equipment - The rail transit equipment sector is expected to benefit from steady investment in fixed assets and high demand for passenger and freight transport [75] - The report highlights the potential for continued growth in the high-speed train sector and recommends key players in the industry [76] Oil Service Equipment - The oil service equipment sector is anticipated to thrive due to sustained demand driven by oil prices and energy security concerns [79] - The report suggests focusing on companies with strong technical barriers and those benefiting from domestic and international market opportunities [80]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688147 证券简称：微导纳米公告编号：2026-001 转债代码：118058 转债简称：微导转债 江苏微导纳米科技股份有限公司董事会 一、合同的基本情况及补充协议的签订 2024年3月，江苏微导纳米科技股份有限公司（以下简称"公司"）与光伏企业客户（以下简称"客户A"） 签署了设备销售合同，合同金额约为人民币5.2亿元（含税，下同）。具体内容详见公司在上海证券交 易所网站（www.sse.com.cn）披露的《关于签订重大销售合同的公告》（公告编号：2024-009）。合同 执行过程中，经双方协商一致，增加部分设备，合同总金额相应调整为约5.3亿元（以下简称"原合 同"）。 近日，因客户A战略调整，经双方友好协商，依据公司实际交付设备的种类与数量，对原合同内容进行 调整，并签订了补充协议。合同总金额由5.3亿元变更为4.1亿元，变更后合同涉及的设备均已交付。同 时，对剩余货款支付安排进行了约定，后续双方将在约定期限内对剩余尚未支付货款进行结算。 因涉及商业机密，对外披露客户名称、合同具体内容可能不利于公司生产经营活动，从而损害公司及投 资者利益 ...

Group 1 - The semiconductor equipment index has significantly outperformed the market since the beginning of 2025, with a cumulative increase of 62.3% compared to the Shanghai Composite Index's 42.0% [3][13] - The semiconductor industry is experiencing high prosperity, with the global semiconductor market expected to reach a historical high of $760.7 billion in 2026, driven by AI [3][36] - The domestic semiconductor equipment market is seeing a strong recovery in wafer fab capacity utilization and expansion willingness, supported by the AI-driven storage supercycle [3][36] Group 2 - Four key investment directions are recommended: 1. Focus on etching and thin film equipment leaders driven by AI storage supercycle [3] 2. Domestic lithography machine production is expected to achieve mass production in 2026, boosting subsystem and component companies [3] 3. ALD equipment is entering a golden development period, especially in advanced logic and storage fields [3] 4. Advanced packaging continues to follow Moore's Law, providing significant opportunities for domestic equipment manufacturers [3] Group 3 - Investment suggestions include leading companies such as North China Innovation, Zhongwei Company, and TuoJing Technology, as well as high-elasticity targets like XinYuanWei and HuaHaiQingKe [3] - The overall revenue of the semiconductor equipment industry is projected to grow by 36% year-on-year in the third quarter of 2025, with leading companies maintaining high growth rates [15] - The overall net profit of the semiconductor equipment industry is expected to increase by 22% year-on-year in the third quarter of 2025, with significant profit acceleration from companies like Shengmei and TuoJing [15][24] Group 4 - The semiconductor industry is expected to continue its growth trajectory, with AI as the core engine driving the market [36] - The global semiconductor market is projected to grow at a compound annual growth rate of 5.6% from 2004 to 2024, with a significant recovery and expansion phase starting from 2023 [36] - The capital expenditure of the top eight cloud service providers is expected to increase by 40% in 2026, reaching $600 billion, further supporting the semiconductor market growth [36]

| 证券代码：688147 | 证券简称：微导纳米 | 公告编号：2026-001 | | --- | --- | --- | | 转债代码：118058 | 转债简称：微导转债 | | 江苏微导纳米科技股份有限公司 关于重大销售合同的进展公告 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。 一、合同的基本情况及补充协议的签订 2024 年 3 月，江苏微导纳米科技股份有限公司（以下简称"公司"）与光伏 企业客户（以下简称"客户 A"）签署了设备销售合同，合同金额约为人民币 5.2 亿元（含税，下同）。具体内容详见公司在上海证券交易所网站（www.sse.com.cn） 披露的《关于签订重大销售合同的公告》（公告编号：2024-009）。合同执行过程 中，经双方协商一致，增加部分设备，合同总金额相应调整为约 5.3 亿元（以下 简称"原合同"）。 近日，因客户 A 战略调整，经双方友好协商，依据公司实际交付设备的种 类与数量，对原合同内容进行调整，并签订了补充协议。合同总金额由 5.3 亿元 变更为 4.1 亿元，变更后合同涉 ...

Market Overview - The Shanghai Composite Index closed at 3968.84 points, with a slight increase of 0.09% [1] - The total trading volume of A-shares reached 2461.743 billion yuan [1] Technical Analysis - A total of 167 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Sanfu New Science (三孚新科) with a difference of -1.68% [1] - Tianjian Technology (天箭科技) with a difference of -1.66% [1] - Zhongmin Energy (中闽能源) with a difference of -1.30% [1] Individual Stock Performance - Sanfu New Science (688359) decreased by 0.25% with a trading turnover of 1.57% [1] - Tianjian Technology (002977) saw a significant drop of 9.99% with a trading turnover of 2.27% [1] - Zhongmin Energy (600163) declined by 2.17% with a trading turnover of 1.33% [1] - Other notable stocks include: - Hainan Ruize (002596) increased by 0.94% [1] - Weidao Nano (688147) decreased by 1.54% [1] - Eighty Billion (688181) increased by 0.31% [1] Additional Stock Movements - Stocks such as Xiling Information (300588) and Zhaolong Interconnect (300913) also showed minor declines of 0.11% and 1.55% respectively [1] - The performance of ST stocks included: - ST Huaxi (002630) with a decrease of 0.40% [1] - ST Meicheng (300237) with a decline of 1.90% [1]

Group 1 - The company announced a sales contract with photovoltaic client A for equipment worth approximately 520 million yuan, which was later increased to 530 million yuan [1] - Due to a strategic adjustment by client A, a supplementary agreement was signed, reducing the contract amount from 530 million yuan to 410 million yuan [1] - The company stated that the change aligns with the interests of both parties and will not adversely affect the performance of the delivered equipment, with remaining payments to be settled within the agreed timeframe [1]

Group 1 - The core point of the article is the establishment of Weidao Nano Technology (Wuhan) Co., Ltd., which is fully owned by Weidao Nano [1] - The company’s business scope includes new material technology promotion services, manufacturing and sales of semiconductor device specialized equipment, and manufacturing of electronic specialized equipment [1]

| 证券代码：688147 | 证券简称：微导纳米 | 公告编号：2025-101 | | --- | --- | --- | | 转债代码：118058 | 转债简称：微导转债 | | 为规范公司募集资金的管理和使用，保护投资者权益，根据《上海证券交易 所科创板上市公司自律监管指引第 1 号——规范运作》等法律、法规以及规范性 文件和公司《募集资金管理制度》的相关规定，公司与保荐机构中信证券股份有 限公司、各存放募集资金的商业银行分别签订了《募集资金专户存储三方监管协 议》。上述协议与上海证券交易所三方监管协议范本不存在重大差异，公司在使 用募集资金时严格按照协议的具体要求履行义务。 江苏微导纳米科技股份有限公司 关于注销部分募集资金专户的公告 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。 江苏微导纳米科技股份有限公司（以下简称"公司"）2022 年首次公开发行 股票募集资金按照相关法律、法规和规范性文件的规定在银行开立了募集资金专 户。鉴于公司 2022 年首次公开发行股票募投项目"补充流动资金"的募集资金 已按规定使用 ...

Core Viewpoint - Jiangsu Weidao Nano Technology Co., Ltd. announced the completion of its fundraising project for the expansion and upgrade of photovoltaic and flexible electronic devices based on atomic layer deposition technology, with surplus funds of 22.67 million yuan to be permanently supplemented into working capital [1][2]. Project Completion and Fund Surplus Details - The fundraising project reached its intended usable state on December 19, 2025, meeting the completion criteria. The original planned use of raised funds was 250 million yuan, but the actual usage was 217.71 million yuan. After accounting for interest and investment income of 7.52 million yuan and deducting pending contract payments of 1.71 million yuan, a surplus of 22.67 million yuan was formed [2][4]. - The project was initially scheduled for completion in 2024 but was delayed to December 2025. The surplus funds primarily resulted from cost control during project implementation and investment income from idle funds [2][4]. Surplus Fund Usage Arrangement - The company plans to permanently supplement the surplus funds into working capital for daily operations. A dedicated account for the raised funds will be maintained to settle pending contract payments, and any remaining surplus after all payments will also be used to supplement working capital [3][5]. Reasons for Fund Surplus Analysis - The surplus funds were attributed to two main reasons: effective cost control and management during project implementation, and the use of idle funds for cash management, which generated investment income and interest during the fund's holding period [4][5]. Review Procedures and Sponsor Opinions - The matter has been approved by the company's third board of directors' audit committee, strategic committee, and board meeting, and does not require shareholder approval. The sponsor, CITIC Securities Co., Ltd., confirmed that the decision-making and approval processes comply with relevant laws and regulations, ensuring no harm to shareholders' interests [5][6]. Basic Situation of Fundraising - Weidao Nano completed its initial public offering on December 20, 2022, raising a total of 1.1 billion yuan, with a net amount of 1.02 billion yuan. The surplus fund amount is an estimated figure and does not include interest income from deposits that have not yet matured [6].

中信证券股份有限公司 关于江苏微导纳米科技股份有限公司 根据中国证券监督管理委员会于2022 年 11 月 7 日出具的《关于同意江苏微导纳 米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〔2022〕2750 号）， 公司首次公开发行人民币普通股（A 股）4,544.5536 万股，发行价格为每股人民 币 24.21 元，募集资金总额为 1,100,236,426.56 元，扣除发行费用（不含增值税） 人民币 76,765,068.38 元，实际募集资金净额为人民币 1,023,471,358.18 元。上述 资金到位情况已经天职国际会计师事务所（特殊普通合伙）审验，并于 2022 年 12 月 20 日出具天职业字[2022]46404 号验资报告。 部分募投项目结项并将节余募集资金永久补充流动资金的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）作为江苏微 导纳米科技股份有限公司（以下简称"微导纳米"、"公司"）持续督导机构， 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》《上市公 司 ...