2025 年 5 月 25 日 总量研究 静待交易新主线 ——金融工程市场跟踪周报 20250524 要点 资金面跟踪： 机构调研来看，本周受到机构关注程度最高的前 5 大个股依次为汇川技术（352 家）、富创精密（109 家）、博众精工（106 家）、博思软件（102 家）和盛美 上海（101 家）。 本周南向资金净流入 189.59 亿港元，其中沪市港股通净流入 190.55 亿港元， 深市港股通净流出 0.97 亿港元。 股票型 ETF 本周收益中位数为-0.40%，资金净流出 113.43 亿元。港股 ETF 本 周收益中位数为 1.13%，资金净流出 45.47 亿元。跨境 ETF 本周收益中位数为 -1.50%，资金净流出 12.95 亿元。商品型 ETF 本周收益中位数为 3.74%，资金 净流出 4.70 亿元。 截至 2025 年 5 月 23 日，基金抱团分离度环比下降。最近一周抱团股和抱团基 金超额收益上升。 本周市场核心观点与市场复盘： 本周（2025.05.19-2025.05.23，下同）A 股缩量震荡，主要宽基指数周度收跌。 量能指标方面，缩量背景下，主要宽基指数择时指标维持谨慎 ...

2025 年 5 月 25 日 总量研究 静待交易新主线 ——金融工程市场跟踪周报 20250524 要点 本周市场核心观点与市场复盘： 本周（2025.05.19-2025.05.23，下同）A 股缩量震荡，主要宽基指数周度收跌。 量能指标方面，缩量背景下，主要宽基指数择时指标维持谨慎观点。周内主题表 现仍呈现较快轮动，贵金属、汽车周度占优。 4 月以来，市场在主题快速轮动特征下，呈现"红利+微盘"显著占优特征。本 周"红利+微盘"在创出年内高点之后出现短线快速调整的反转变化，短期需警 惕"红利+微盘"持续调整带来的交易偏好下降。中长期角度，流动性宽松叠加 风险偏好上行仍将驱动 A 股震荡上涨；短线调整结束后，"红利+小盘"杠铃组 合仍是配置优选。 本周上证综指下跌 0.57%，上证 50 下跌 0.18%，沪深 300 下跌 0.18%，中证 500 下跌 1.10%，中证 1000 下跌 1.29%，创业板指下跌 0.88%，北证 50 指数 下跌 3.68%。 截至 2025 年 5 月 23 日，宽基指数来看，创业板指处于估值分位数"安全"等 级，其余各大宽基指数处于估值分位数"适中"等级。 中信一 ...

Investment Overview - The company announced a joint investment to acquire equity in Zhejiang Poxin Electronics Technology Co., Ltd. [1] - The company plans to invest RMB 600 million to hold a 27.65% stake in Shenyang Zhengxin Semiconductor Technology Co., Ltd. [1] - The total investment from all parties involved amounts to RMB 2.17 billion, with the company contributing RMB 600 million and joint investors contributing RMB 1.57 billion [1][2] Progress of Investment - As of the announcement date, the company has paid the agreed investment amount of RMB 600 million, and joint investors have paid the equity transfer amount of RMB 1.57 billion [2] - Wuxi Zhengxin has secured a special acquisition loan of RMB 1 billion from a bank [2] - The acquisition of 64.42% equity in Zhejiang Poxin has been completed, and Wuxi Zhengxin has gained control over the company [3] Future Actions - Wuxi Zhengxin is participating in the bidding for additional equity from state-owned transfer parties, with the total potential acquisition price being approximately RMB 3.07 billion for 80.81% of the equity [2][3] - The company will continue to disclose information regarding the investment's progress in accordance with legal regulations [3]

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。 一、对外投资事项概述 沈阳富创精密设备股份有限公司（以下简称"公司"）于 2025 年 4 月 1 日 披露了《关于联合投资人共同对外投资暨收购浙江镨芯电子科技有限公司股权的 公告》（公告编号：2025-013），公司拟联合共同投资人对沈阳正芯半导体科技有 限公司（以下简称"沈阳正芯"）投资，其中公司拟向沈阳正芯投资人民币 6 亿 元（以下称"本次投资"），并持有该公司 27.65%股权。共同参与本次收购的投 资人（以下合称"共同投资人"）合计出资 15.7 亿元，沈阳正芯将以公司和共同 投资人的全部出资 21.7 亿元向无锡正芯半导体科技有限公司（以下简称"无锡 正芯"）增资。无锡正芯作为本次收购浙江镨芯电子科技有限公司（以下简称"浙 江镨芯"或"目标公司"）股权的收购主体，将向银行申请并购贷款，连同沈阳 正芯增资款一并支付本次收购对价。 证券代码：688409 证券简称：富创精密 公告编号：2025-032 沈阳富创精密设备股份有限公司 关于联合投资人共同对外投资收购股权 ...

中信证券股份有限公司 关于沈阳富创精密设备股份有限公司 2024 年度持续督导工作现场检查报告 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，中信证券股份有限公司（以下简称"中信证券"或"保荐 人"）作为正在对沈阳富创精密设备股份有限公司（以下简称"富创精密""公司" "上市公司"）进行持续督导工作的保荐人，对 2024 年度（以下简称"本持续督 导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报告如下： 一、本次现场检查的基本情况 （一）保荐人 中信证券股份有限公司 （二）保荐代表人 张欢、张明慧 （三）现场检查人员 张欢、于棚土 于棚土：2025 年 5 月 14 日—15 日 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与控股股东、实际控制人及其他关联方资金往来情况、 募集资金使用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面 进行了现场检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 1 （六）现场检查手段 本次现场检查的手段主要包括资料查阅、访谈、 ...

中信证券股份有限公司 关于沈阳富创精密设备股份有限公司 2024 年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为沈阳富 创精密设备股份有限公司（以下简称"富创精密"或"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人。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》等相关规定，中信证券履行持续 督导职责，并出具本持续督导年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 4 月 21 日和 2025 年 5 月 14 日—15 日对公司进行 了现场检查。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制 ...

Core Viewpoint - The resignation of CFO Cui Jing from Fuchuang Precision poses challenges for the company's financial management and strategic planning, raising concerns about the stability of its financial team [1][2]. Financial Performance - In Q1 2025, Fuchuang Precision reported a revenue of 762 million yuan, reflecting a year-on-year growth of 8.62%, but incurred a net loss of 22.16 million yuan, compared to a profit of 60.43 million yuan in the same period last year [2]. - The company faced regulatory penalties for failing to disclose related party transactions, which has further pressured its stock performance [2]. Management Transition - Following Cui Jing's departure, General Manager Zhang Xuan will temporarily assume the CFO responsibilities, despite lacking financial experience, which raises concerns about the continuity of financial management [1][2]. - The company emphasizes the need to quickly appoint a suitable CFO to ensure stability in financial management and to maintain investor confidence [3]. Investor Relations - Fuchuang Precision must enhance communication with investors and provide timely updates on its operational and financial status to rebuild trust and confidence in the company's future prospects [3].

Core Viewpoint - The legal opinion letter confirms that the 2024 annual shareholders' meeting of Shenyang Fuchuang Precision Equipment Co., Ltd. was convened and conducted in accordance with relevant laws and regulations, ensuring the legality and validity of the meeting and its resolutions [1][10]. Group 1: Meeting Procedures - The board of directors announced the 2024 annual shareholders' meeting on April 30, 2025, detailing the time, location, participants, and agenda [2]. - The meeting was scheduled for May 21, 2025, with specific time slots for online voting [3]. Group 2: Attendance and Voting - A total of 105 representatives attended the meeting, representing 176,790,990 shares, which accounted for 58.0509% of the total voting shares [4]. - The legal opinion confirms that the qualifications of the attendees and the convenor were valid and in compliance with relevant laws and company regulations [5]. Group 3: Voting Results - The following resolutions were passed with significant majority votes: - The 2024 annual report was approved with 99.9590% in favor [6]. - The 2024 financial settlement report was also approved with 99.9590% in favor [6]. - The 2024 board work report received 99.9648% approval [6]. - The profit distribution plan for 2024 was approved with 99.9707% in favor [6]. - The authorization for the board to conduct mid-year dividends for 2025 was approved with 99.9750% in favor [6]. - The expected related party transactions for 2025 were approved with 99.9383% in favor [7]. - The expected external guarantees for 2025 were approved with 99.9544% in favor [8]. - The 2025 board remuneration proposal was approved with 99.9286% in favor [9]. - The 2024 supervisory board work report was approved with 99.9590% in favor [9]. - The 2025 supervisory remuneration proposal was approved with 99.9549% in favor [10]. Group 4: Conclusion - The legal opinion concludes that all aspects of the shareholders' meeting, including the convening, procedures, qualifications, and voting results, were in compliance with the law and the company's articles of association, rendering the resolutions valid [10].

Meeting Overview - The shareholders' meeting of Shenyang Fuchuang Precision Equipment Co., Ltd. was held on May 21, 2025 [1] - The meeting took place at the company's conference room located at No. 18 Jia-1, Feiyun Road, Hunnan District, Shenyang [1] - A total of 105 ordinary shareholders attended the meeting, holding 176,790,990 voting rights, which accounts for 58.0509% of the total voting rights [1] Voting Results - All non-cumulative voting proposals were approved with significant majority support [2] - The voting results for the proposals showed that the approval rates were consistently above 99%, with the highest being 99.9750% for one of the proposals [2] - The voting breakdown indicated that the majority of ordinary shareholders voted in favor, with minimal opposition and abstentions across all proposals [2][3] Legal Compliance - The meeting's procedures, including the qualifications of attendees and the voting process, complied with the relevant laws and the company's articles of association [3] - The resolutions passed during the meeting were deemed legally valid and effective [3]

北京市中伦律师事务所 关于沈阳富创精密设备股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年五月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦律师事务所 关于沈阳富创精密设备股份有限公司 2024 年年度股东大会的 法律意见书 致：沈阳富创精密设备股份有限公司 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证 券法》（以下简称《证券法》）、中国证券监督管理委员会发布的《上市公司股东 会规则》（以下简称《股东会规则》）的规定，北京市中伦律师事务所（以下简 ...