Group 1 - On September 29, a total of 19 companies had their restricted shares unlocked, with a total unlock volume of 4.644 billion shares, equating to a market value of 32.275 billion yuan based on the latest closing price [1] - Nine companies had unlock volumes exceeding 10 million shares, with Ningbo Port, Zhaoxun Media, and Deep Expressway leading in unlock volume at 3.647 billion shares, 304 million shares, and 281 million shares respectively [1] - In terms of unlock market value, nine companies had unlock values exceeding 100 million yuan, with Ningbo Port, Wankai New Materials, and Jiao Cheng Ultrasonic leading at 13.202 billion yuan, 4.665 billion yuan, and 4.374 billion yuan respectively [1] Group 2 - Six companies had an unlock ratio exceeding 10% of their total share capital, with Zhaoxun Media, Fujilai, and Wankai New Materials having the highest unlock ratios at 75.0%, 60.26%, and 40.9% respectively [1]

Core Viewpoint - The company has established a comprehensive ultrasonic solution in the power semiconductor field, with successful mass production of various ultrasonic welding machines and equipment [1] Group 1: Product Offerings - The company offers a full range of ultrasonic solutions including ultrasonic terminal welding machines, ultrasonic PIN needle welding machines, ultrasonic bonders, and ultrasonic scanning microscopes [1] - All products have achieved mass production, indicating strong operational capabilities [1] Group 2: Partnerships - The company maintains good cooperation with well-known enterprises such as SAIC Infineon, CRRC Times, Zhenhua Technology, Hongwei Technology, Silan Microelectronics, and Chiplink Integration [1]

Market Overview - On September 24, the Shanghai Composite Index rose by 0.83%, the CSI 300 increased by 1.02%, the STAR 50 surged by 3.49%, the CSI 1000 climbed by 1.7%, the ChiNext Index went up by 2.28%, and the Hang Seng Index gained 1.37% [3][4] - The best-performing sectors on September 24 were Power Equipment (+2.88%), Electronics (+2.76%), Media (+2.59%), Computers (+2.52%), and Real Estate (+2.25%). The worst-performing sectors included Banking (-0.36%), Coal (-0.29%), Telecommunications (-0.01%), Food & Beverage (+0.08%), and Composite (+0.27%) [3][4] - The total trading volume for the A-share market on September 24 was 23,471.54 billion yuan, with a net inflow of 13.705 billion HKD from southbound funds [3][4] Key Recommendations - The report highlights the company "Jiao Cheng Ultrasound" (688392) with a focus on advanced packaging breakthroughs and the emergence of a platform layout [2][5] - The recommendation logic is based on the accelerated breakthroughs in advanced packaging, with the order acquisition speed and volume for ultrasonic scanning microscopes exceeding expectations [5] - Revenue projections for the company from 2025 to 2027 are estimated at 742.54 million yuan, 1,045.22 million yuan, and 1,424.44 million yuan, with growth rates of 27.03%, 40.76%, and 36.28% respectively. Net profit is projected to be 152.61 million yuan, 242.40 million yuan, and 357.18 million yuan, with growth rates of 77.72%, 58.84%, and 47.35% respectively [5] - Earnings per share are forecasted to be 1.32 yuan, 2.09 yuan, and 3.09 yuan, with price-to-earnings ratios of 67.34, 42.40, and 28.77 [5] - Catalysts for growth include successful delivery of current orders for ultrasonic scanning microscopes, acquisition of new customer orders, and breakthroughs in orders from solid-state batteries, high-level HDI, and liquid cooling sectors [5]

Market Performance - The battery sector increased by 3.55% compared to the previous trading day, with a notable rise in the Shanghai Composite Index, which closed at 3853.64, up 0.83% [1] - The Shenzhen Component Index also saw an increase, closing at 13356.14, up 1.8% [1] Top Gainers in Battery Sector - Key stocks in the battery sector included: - Jiao Cheng Ultrasonic (688392) with a closing price of 98.20, up 10.59% and a trading volume of 73,900 shares, totaling 728 million yuan [1] - China Huang'an (000009) closed at 11.32, up 10.01% with a trading volume of 982,900 shares, totaling 1.073 billion yuan [1] - Huijie Co., Ltd. (002812) closed at 44.59, up 9.99% with a trading volume of 385,800 shares, totaling 1.647 billion yuan [1] Decliners in Battery Sector - Notable decliners included: - Yema Battery (605378) closed at 28.01, down 3.08% with a trading volume of 165,900 shares, totaling 456 million yuan [2] - Defu Technology (301511) closed at 36.24, down 2.66% with a trading volume of 388,100 shares, totaling 1.39 billion yuan [2] - Yihua Road (688339) closed at 27.70, down 2.64% with a trading volume of 107,400 shares, totaling 299 million yuan [2] Capital Flow in Battery Sector - The battery sector experienced a net inflow of 3.22 billion yuan from main funds, while retail funds saw a net outflow of 1.497 billion yuan [2][3] - Main funds showed a significant presence in stocks like Ningde Times (300750) and Yiwei Lithium Energy (300014), with net inflows of 989 million yuan and 421 million yuan respectively [3] Summary of Key Stocks - The following stocks had significant capital flows: - Ningde Times (300750) had a main fund net inflow of 989 million yuan, with a main fund占比 of 6.91% [3] - Yiwei Lithium Energy (300014) had a main fund net inflow of 421 million yuan, with a main fund占比 of 5.69% [3] - Enjie Co., Ltd. (002812) had a main fund net inflow of 335 million yuan, with a main fund占比 of 20.32% [3]

Investment Rating - The report maintains a "Recommendation" rating for the lithium battery equipment industry [2] Core Viewpoints - The lithium battery equipment sector is experiencing a recovery in demand, driven by both traditional lithium battery needs and new solid-state battery technologies, leading to a significant rebound in stock prices [5][10] - The overall revenue for the lithium battery equipment sector in Q2 2025 reached 12.347 billion, marking a year-on-year increase of 9.93%, while net profit attributable to shareholders was 434 million, a decrease of 12.76% [14][19] - The report highlights a fundamental turning point in the industry, with new orders beginning to recover after a downturn [9][14] Summary by Sections 1. Overview of Lithium Battery Equipment Mid-Year Report 2025 - The report analyzes the operational performance of 13 key listed companies in the lithium battery equipment sector, confirming a turning point in the fundamentals and a recovery in new orders [9] 2. Market Performance - The lithium battery equipment index has outperformed the broader market, with a year-to-date increase of 130.14% compared to a 17.84% rise in the CSI 300 index [10] - The sector's performance is attributed to fundamental changes, advancements in solid-state battery technology, and favorable policy expectations [10] 3. Mid-Year Report Summary - The lithium battery equipment sector achieved a total revenue of 21.476 billion in H1 2025, a slight decrease of 0.35% year-on-year, while net profit was 920 million, down 37.20% [14][16] - The report notes that the revenue growth in Q2 2025 ended a four-quarter decline, indicating a recovery in the revenue stream [14][19] 4. Future Outlook - The solid-state battery industry is approaching commercialization, with significant implications for equipment demand and value [5][43] - The report anticipates that the global market for semi-solid battery equipment could reach 62.44 billion by 2030, with a CAGR of 59% from 2024 to 2030 [5] - The solid-state battery market is projected to reach 45.50 billion by 2030, with a CAGR of 159% from 2024 to 2030 [5] 5. Investment Recommendations - The report suggests focusing on companies involved in the "selling shovel" logic, particularly those engaged in the upstream dry process equipment [5] - Key companies to watch include Naconoer, Xinyuren, Honggong Technology, and Mannester for their potential in the new technology segment [5] - The report also highlights leading companies with established relationships with major battery manufacturers, such as Xian Dao Intelligent, Yinghe Technology, Liyuanheng, and Hangke Technology [5]

人民财讯9月23日电，据骄成超声消息，近日，骄成超声成功获得头部飞机制造公司订单。公司表示， 这是公司首获航空订单，标志着公司的超声波技术在飞机制造领域的应用得到了权威认可。未来，骄成 超声将持续深化与航空制造商的合作。 ...

Group 1 - The core viewpoint of the news is that Jiangcheng Ultrasonic experienced a decline in stock price, with a drop of 5.24% to 86.20 CNY per share, and a total market capitalization of 9.976 billion CNY [1] - Jiangcheng Ultrasonic, established on February 13, 2007, specializes in the research, design, production, and sales of ultrasonic welding and cutting equipment, as well as providing automation solutions for the new energy battery manufacturing sector [1] - The company's main business revenue composition includes: 31.42% from accessories, 25.86% from ultrasonic equipment for new energy batteries, 18.51% from services and others, 13.92% from harness connector ultrasonic equipment, 8.03% from semiconductor ultrasonic equipment, 2.09% from non-metal ultrasonic equipment, and 0.18% from other sources [1] Group 2 - From the perspective of fund holdings, Western Benefit Fund has a significant position in Jiangcheng Ultrasonic, with its Carbon Neutral Mixed Fund A holding 411,400 shares, accounting for 3.21% of the fund's net value, ranking as the tenth largest holding [2] - The Carbon Neutral Mixed Fund A, established on August 9, 2021, has a latest scale of 619 million CNY and has achieved a year-to-date return of 35.33%, ranking 2181 out of 8172 in its category [2] - The fund manager, Chen Baoguo, has been in position for 5 years and 219 days, overseeing a total asset scale of 1.3 billion CNY, with the best fund return during his tenure being 160.14% and the worst being -21.47% [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 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： ● 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为44,981,239股。 ● 本次股票上市流通总数为44,981,239股。 ● 本次股票上市流通日期为2025年9月29日（因2025年9月27日为非交易日，故上市流通日顺延至下一交 易日）。 ● 基于对上海骄成超声波技术股份有限公司（以下简称"公司"、"骄成超声"或"发行人"）未来持续发展 的坚定信心和对公司长期价值的认可，为促进公司持续、稳定、健康发展，增强广大投资者信心，公司 控股股东江苏阳泰企业管理有限公司（以下简称"阳泰企管"）和实际控制人、董事长兼总经理周宏建先 生分别自愿承诺，除向上海交通大学教育发展基金会捐赠的300,000股股份外，自2025年9月29日起12个 月内不以任何方式减持所持有的公司股份，包括承诺期间该部分股份因资本公积转增股本、派送股票红 利、配股、增发等事项产生的股份。 一、本次上市流通的限售股类型 根据中国证 ...

Core Viewpoint - The announcement details the upcoming listing and circulation of restricted shares for Shanghai Jiao Cheng Ultrasonic Technology Co., Ltd., with a total of 44,981,239 shares set to be released on September 29, 2025, following a 36-month lock-up period since the company's initial public offering [2][3][17]. Group 1: Listing Details - The total number of shares to be listed is 44,981,239, which represents 38.87% of the company's total share capital [4][17]. - The listing date is confirmed as September 29, 2025, due to the preceding non-trading day on September 27, 2025 [3][17]. - The shares being released are part of the initial public offering, which had a total of 82 million shares, with 6,455,265.2 million shares under lock-up conditions [4][5]. Group 2: Shareholder Commitments - The controlling shareholder, Jiangsu Yangtai Enterprise Management Co., Ltd., and the actual controller, Zhou Hongjian, have voluntarily committed not to reduce their holdings for 12 months post the release date, except for a donation of 300,000 shares to Shanghai Jiao Tong University [3][13]. - Other shareholders have also made similar commitments to not transfer or manage their shares for 36 months from the listing date [8][9]. Group 3: Capital Changes - The company's total share capital increased from 82 million to 114.8 million shares following a cash dividend distribution and a capital reserve conversion plan approved on May 30, 2023 [5]. - Following the completion of the first vesting period of the 2024 restricted stock incentive plan on May 28, 2025, the total share capital further increased to 115,733,360 shares [6]. Group 4: Regulatory Compliance - The underwriting institution, Guotai Junan Securities Co., Ltd., has confirmed that all shareholders have adhered to their commitments regarding the restricted shares, and the listing complies with relevant regulations [16].

Core Viewpoint - The announcement from Jiao Cheng Ultrasonic regarding the listing of restricted shares indicates a significant step in the company's capital market activities, with a total of 44,981,239 shares set to be released for trading on September 29, 2025 [1] Summary by Categories - **Company Announcement** - Jiao Cheng Ultrasonic has released a notice about the public offering of restricted shares, marking its first public issuance [1] - The total number of shares to be listed for circulation is 44,981,239 [1] - The shares will be available for trading starting from September 29, 2025 [1] - **Stock Offering Details** - The type of stock being listed is classified as initial restricted shares [1] - The method of subscription for these shares is through offline channels [1]