Core Viewpoint - Fengcai Technology (688279.SH), a BLDC motor driver control chip design company, has successfully completed its A+H listing, with H shares priced at HKD 120.5, set to begin trading on July 9, 2024 [1][3]. Group 1: Listing Details - Fengcai Technology announced its plan for a secondary listing in Hong Kong in December 2024, aiming to enhance its global brand recognition and competitiveness [2]. - The company submitted its application for the H share issuance to the Hong Kong Stock Exchange on January 15, 2025 [2]. - The total number of H shares for global offering is 16.2995 million, with 1.63 million shares allocated for public offering in Hong Kong [3]. Group 2: Financial Performance - In 2024, Fengcai Technology achieved a revenue of CNY 600 million, representing a year-on-year growth of 45.94%, and a net profit of CNY 222 million, up 27.18% [6]. - The company reported a significant increase in its net profit after deducting non-recurring items, reaching CNY 188 million, a growth of 59.17% [6]. - The revenue from overseas markets reached CNY 37.1308 million in 2024, marking a 125.19% increase year-on-year [5]. Group 3: Investment and R&D Strategy - The company plans to allocate approximately 34% of the net proceeds from the H share issuance to enhance R&D and innovation capabilities [5]. - In 2024, Fengcai Technology's R&D investment amounted to CNY 117 million, a year-on-year increase of 37.86%, accounting for 19.44% of its revenue [6]. - The company aims to become a leading global supplier of motor driver control chips and systems, with ongoing efforts to expand its product offerings and applications in various sectors [5].

Core Viewpoint - Several listed companies in the Shanghai and Shenzhen markets have announced significant developments, including management changes, stock trading fluctuations, and major contracts, which may present investment opportunities and risks for investors [2]. Group 1: Management Changes and Legal Issues - Scanda's chairman and general manager, Li Yuejie, along with director Zhu Chuncheng, have been subjected to criminal coercive measures due to alleged violations related to information disclosure [3]. - Longhong High-Tech is planning to acquire 100% equity of Guangxi Changke, leading to a stock suspension for up to 10 trading days [6]. Group 2: Stock Trading and Performance - New Asia Electronics reported abnormal stock trading with a cumulative price deviation exceeding 20% over three days, while confirming that its operations are normal and consistent with previously disclosed share reduction plans [5]. - ST Tiexin announced the removal of risk warnings and a name change, which will increase the trading limit from 5% to 10% [8]. Group 3: Financial Performance Forecasts - Industrial Fulian expects a net profit increase of 36.84% to 39.12% year-on-year for the first half of 2025, driven by a surge in AI-related business [18]. - Huayou Cobalt anticipates a net profit increase of 55.62% to 67.59% for the same period, benefiting from integrated operations and rising cobalt prices [19]. - Guoli Co. forecasts a staggering net profit increase of 130.91% to 158.08% for the first half of 2025, attributed to new product and market expansions [20]. - Bangji Technology expects a net profit increase of 166.77% to 200.91%, driven by increased sales from direct sales channels [21]. - Lier Chemical predicts a net profit increase of 185.24% to 196% due to rising product sales and cost reduction efforts [25]. Group 4: Major Contracts and Projects - Huadian Science and Technology signed significant contracts worth approximately RMB 25.16 billion for coal handling and transportation systems [41]. - Aerospace Engineering is the first candidate for a project with a bid of RMB 23.92 billion for a coal gasification facility [43].

证券代码：688279 证券简称：峰岹科技 公告编号：2025-034 峰岹科技（深圳）股份有限公司 关于境外上市股份（H 股）公开发行价格的公告 本公司董事会及全体董事保证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。 峰岹科技（深圳）股份有限公司董事会 2025 年 7 月 8 日 峰岹科技（深圳）股份有限公司（以下简称"公司"）正在进行发行 H 股股 票并在香港联合交易所有限公司（以下简称"香港联交所"）主板上市（以下简 称"本次发行上市"）的相关工作。 本次拟发行的 H 股股份的认购对象仅限于符合相关条件的境外投资者及依 据中国相关法律法规有权进行境外证券投资的境内合格投资者。因此，本公告仅 为境内投资者及时了解本次发行上市的相关信息而作出，并不构成也不得视作对 任何个人或实体收购、购买或认购公司任何证券的要约或要约邀请。 公司已确定本次 H 股发行的最终价格为每股 120.5 港元（不包括 1%经纪佣 金、0.0027%香港证券及期货事务监察委员会交易征费、0.00565%香港联交所交 易费及 0.00015%香港会计及财务汇报局交易征费） ...

Company Overview - Fengcai Technology (Shenzhen) Co., Ltd. was established in 2010 and specializes in motor drive chip semiconductors, providing high-quality drive and control chips for various motor systems, as well as consulting services in motor technology [1] Stock Performance - Fengcai Technology has experienced a decline in stock price, with a cumulative drop of -17.13% over five consecutive trading days [1] - The performance of the Jiashi Fund's Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF, which is among the top ten shareholders of Fengcai Technology, shows a year-to-date return of 2.90%, ranking 1496 out of 3221 in its category [1] Fund Management - The fund manager of Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF is Tian Guangyuan, who has a background in quantitative research and has held various managerial positions in different funds since joining Jiashi Fund in April 2017 [3] Company Structure - Jiashi Fund Management Co., Ltd. was founded in March 1999 and is led by Chairman An Guoyong and General Manager Jing Lei. The company has three shareholders: Zhongcheng Trust Co., Ltd. (40%), Lixin Investment Co., Ltd. (30%), and DWS Investments Singapore Limited (30%) [4]

证券代码：688279 证券简称：峰岹科技 公告编号：2025-033 峰岹科技（深圳）股份有限公司 关于刊发 H 股招股说明书、H 股发行价格区间 本公司董事会及全体董事保证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。 峰岹科技（深圳）股份有限公司（以下简称"公司"）正在进行发行 H 股股 票并在香港联合交易所有限公司（以下简称"香港联交所"）主板上市（以下简 称"本次发行上市"）的相关工作。 日在香港联交所网站刊登了申请资料。具体内容详见公司于 2025 年 1 月 16 日在 上海证券交易所网站（www.sse.com.cn）及指定媒体披露的《峰岹科技（深圳） 股份有限公司关于向香港联交所递交 H 股发行并上市的申请并刊发申请资料的 公告》（公告编号：2025-003）。 监会"）出具的《关于峰岹科技（深圳）股份有限公司境外发行上市备案通知书》 （国合函〔2025〕930 号），中国证监会对公司本次发行上市备案信息予以确认。 具体内容详见公司 2025 年 5 月 30 日在上海证券交易所网站（www.sse.com.cn） 及指定媒体披露的 ...

Core Viewpoint - The Hong Kong stock market is experiencing a surge in IPO activity, with multiple companies set to list in the coming days, indicating a robust market environment for new listings [1][3][18]. Group 1: Upcoming IPOs - On June 30, six companies announced their IPOs, with plans to list between June 30 and July 4, 2025 [1][3]. - The companies planning to list include Lens Technology, Fortior, Xunzhong Communication, Jizhi Jia, Dazhong Oral, and Shougang Longze, with Lens Technology and Fortior being A-share listed companies [1][3]. - Three companies, including Taide Pharmaceutical, Yunzhisheng, and IFBH, successfully listed on June 30, 2025, with Taide Pharmaceutical's share price set at 30.6 HKD [1][4]. Group 2: Financial Performance of Listed Companies - Yunzhisheng reported revenues of approximately 601 million RMB, 727 million RMB, and 939 million RMB for 2022, 2023, and 2024, respectively, with net losses of 375 million RMB, 376 million RMB, and 454 million RMB [4][6]. - Taide Pharmaceutical raised approximately 514 million HKD, with a net amount of about 429 million HKD after expenses, and secured two cornerstone investors contributing a total of 10 million USD [8]. - IFBH raised around 1.158 billion HKD, with a net amount of approximately 1.074 billion HKD, and is recognized as the second-largest coconut water beverage company globally [8]. Group 3: Market Trends and Future Outlook - The Hong Kong stock exchange has seen over 40 new listings in the first half of 2025, a significant increase compared to the same period in 2024, with total fundraising exceeding 100 billion HKD [17]. - The market is expected to remain active, with more companies preparing for IPOs, including those that have already submitted applications [17][18]. - The trend indicates a growing interest from A-share listed companies to enter the Hong Kong market, with over 70 companies submitting applications in June 2025 alone [17].

Core Viewpoint - Fengcai Technology (688279.SH, 01304.HK) is set to launch its IPO in Hong Kong from June 30 to July 4, 2025, with an expected listing date of July 9, 2025, under the sponsorship of China International Capital Corporation (CICC) [4][5]. Group 1: IPO Details - The company plans to issue 16,299,500 H-shares, with a maximum offering price of HKD 120.50 per share, plus various fees [2][5]. - The total fundraising amount is estimated to be approximately HKD 19.64 billion, with the potential to reach HKD 25.97 billion if the overallotment option is fully exercised [5][6]. - The IPO will involve 90% of shares allocated for international offering and 10% for public offering, with a 15% overallotment option [5][6]. Group 2: Use of Proceeds - Approximately 34% of the net proceeds will be allocated to enhancing research and innovation capabilities, while 10% will be used to enrich the product portfolio and expand downstream applications [6][7]. - About 16% is earmarked for expanding the overseas sales network and promoting products in international markets, and 30% will be directed towards strategic investments and/or acquisitions [7]. - The remaining 10% will be utilized for working capital and general corporate purposes [7]. Group 3: Shareholder Structure - Post-IPO, the controlling shareholders, including Mr. Bi Lei and Dr. Bi Chao, will hold approximately 33.59% of the shares, representing 33.65% of the voting rights [8][9]. - The shareholder structure includes various other investors, with significant stakes held by institutional investors [9]. Group 4: Company Overview - Fengcai Technology specializes in the design and development of BLDC motor driver control chips, covering all major components of general motor drive control systems [9]. - The company is recognized as the only Chinese enterprise among the top ten in the BLDC motor control and driver chip market, holding a market share of 4.8% as of 2023 [9].

Group 1 - Fengcai Technology is conducting an H-share issuance with a maximum price of 120.50 HKD per share, aiming to raise funds for its specialized chip business [1] - The global offering consists of 16.3 million shares, with 1.63 million shares available for public offering in Hong Kong [1] - Zijin Mining plans to acquire the Raygorodok gold mine project in Kazakhstan for 1.2 billion USD, enhancing its resource portfolio [1][2] Group 2 - Mindray Medical's shareholder plans to reduce holdings by up to 5 million shares, approximately 0.41% of the total share capital, due to personal funding needs [3] - Degute is planning to acquire control of Haowei Technology through a combination of cash and share issuance, leading to a temporary suspension of its stock [4] - New Dairy's controlling shareholder intends to reduce its stake by up to 3% of the total share capital, also for funding purposes [5] Group 3 - Yueyang Xinchang has resumed production after completing maintenance on its main production facilities, positively impacting its operations [6] - Chengdu Xian Dao has terminated its major asset restructuring plan due to failure to reach agreement on key terms [7] - Maglev Technology's shareholder plans to reduce its stake by up to 3% of the total share capital for personal financial arrangements [9] Group 4 - Zhongyan Dadi announced a cash dividend of 2.82 CNY per 10 shares and a capital increase of 3.99 shares per 10 shares [10] - Yunda Co. plans to distribute a cash dividend of 0.6 CNY per 10 shares, totaling approximately 47.22 million CNY [12] - Victory Co. intends to distribute a cash dividend of 0.42 CNY per 10 shares, amounting to around 36.06 million CNY [13] Group 5 - Shagang Group has invested 2.67 billion CNY in financial products while planning to use up to 8 billion CNY of idle funds for further investments [14] - Jiuyuan Yinhai's subsidiary won an 8.43 million CNY project contract, constituting a related party transaction [15] - China Railway Signal & Communication has announced the resignation of a board member due to personal reasons [16] Group 6 - China Rare Earth clarified that recent management changes have not affected its operations, ensuring stability in production [17] - Qixiang Tengda plans to conduct routine maintenance on its 60,000-ton acetone plant for 60 days to enhance operational safety [19] - ST King Kong's subsidiary signed a 399 million CNY contract for computing power services, indicating growth in its service offerings [20] Group 7 - Ziguang Guowei repurchased 775,500 shares for approximately 49.62 million CNY, reflecting confidence in its market position [22] - Qin Port's major shareholder plans to reduce its stake by up to 2% of the total share capital for development needs [22] - Longqi Technology has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange, expanding its market presence [24]

证券代码：688279 证券简称：峰岹科技 公告编号：2025-033 中文： 峰岹科技（深圳）股份有限公司 关于刊发 H 股招股说明书、H 股发行价格区间 及 H 股香港公开发售等事宜的公告 本公司董事会及全体董事保证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。 峰岹科技（深圳）股份有限公司（以下简称"公司"）正在进行发行 H 股股 票并在香港联合交易所有限公司（以下简称"香港联交所"）主板上市（以下简 称"本次发行上市"）的相关工作。 2025 年 1 月 15 日，公司向香港联交所递交了本次发行上市的申请，并于同 日在香港联交所网站刊登了申请资料。具体内容详见公司于 2025 年 1 月 16 日在 上海证券交易所网站（www.sse.com.cn）及指定媒体披露的《峰岹科技（深圳） 股份有限公司关于向香港联交所递交 H 股发行并上市的申请并刊发申请资料的 公告》（公告编号：2025-003）。 2025 年 5 月 28 日，公司收到中国证券监督管理委员会（以下简称"中国证 监会"）出具的《关于峰岹科技（深圳）股份有限公司境外发行上市备案通 ...

Core Viewpoint - Fengfan Technology (688279.SH) is set to become a dual-listed chip design company on both A-shares and H-shares, with recent stock price fluctuations reflecting market sentiment and the company's upcoming capital expansion plans [1]. Company Overview - Fengfan Technology specializes in the design and research of BLDC motor drive control chips, holding a 4.8% market share in China's BLDC motor control and drive chip market, ranking sixth overall and being the only Chinese company among the top ten [2][5]. - The company has a comprehensive product matrix covering core components of motor drive control systems, including MCU, ASIC, HVIC, and MOSFET [5]. Financial Performance - Revenue is projected to grow from 322.973 million RMB in 2022 to 600.325 million RMB in 2024, with a compound annual growth rate (CAGR) of 36.4% [7][8]. - Net profit is expected to increase from 142 million RMB in 2022 to 222 million RMB in 2024, with a CAGR of 25.1% [7][8]. Market Dynamics - The global and Chinese BLDC motor market is experiencing significant growth, with projected CAGRs of 22.6% and 24.9% from 2019 to 2023, respectively [11]. - The company faces intense competition from international firms, which hold 54.1% of the market share, prompting Fengfan Technology to adopt a "price-for-volume" strategy to expand its customer base [12]. Research and Development - High R&D investment is a key driver of the company's growth, with R&D expenses increasing from 64 million RMB in 2022 to 116.73 million RMB in 2024, representing 19.4%-20.6% of revenue [11]. - The company has accumulated 110 patents, including 68 invention patents, focusing on core algorithms and chip design [11]. Sales Strategy - The company has seen a rise in sales and distribution expenses, from 12.605 million RMB in 2022 to 24.670 million RMB in 2024, reflecting efforts to optimize customer structure and expand into new markets [12][13]. - The concentration of revenue from the top five customers has decreased from 56.6% in 2022 to 46.8% in 2024, indicating progress in diversifying its customer base [13]. Future Outlook - Fengfan Technology's growth potential is supported by the high demand in the BLDC motor drive control chip sector and its innovative product offerings, as it prepares for A+H share capital expansion [14]. - The company must balance pricing strategies and expenditure to optimize profitability while navigating potential risks related to customer concentration and R&D investment returns [14].