Core Insights - A total of 51 new companies were listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange from January to June 2025, raising a total of 37.3 billion yuan [1] - Among these, 7 companies were listed on the Sci-Tech Innovation Board, collectively raising 5.619 billion yuan [1] Listing Details - The 7 companies that chose the first set of listing standards include: - Ying Shi Innovation (688775.SH) listed on June 11, 2025, raising 1.93807 billion yuan with underwriting fees of 158.3475 million yuan [1] - Han Bang Technology (688755.SH) listed on May 16, 2025, raising 500.94 million yuan with underwriting fees of 37.2891 million yuan [1] - Sheng Ke Nano (688757.SH) listed on March 25, 2025, raising 366.21 million yuan with underwriting fees of 43.9448 million yuan [1] - Hai Bo Si Chuang (688411.SH) listed on January 27, 2025, raising 861.1 million yuan with underwriting fees of 66.4722 million yuan [1] - Xing Fu Electronics (688545.SH) listed on January 22, 2025, raising 1.168 billion yuan with underwriting fees of 82.0755 million yuan [1] - Si Kan Technology (688583.SH) listed on January 15, 2025, raising 568.82 million yuan with underwriting fees of 46.0744 million yuan [1] - Sai Fen Technology (688758.SH) listed on January 10, 2025, raising 215.89 million yuan with underwriting fees of 25.283 million yuan [1] Listing Standards - The listing standards for the Sci-Tech Innovation Board require either: - An expected market value of no less than 1 billion yuan, positive net profits for the last two years, and a cumulative net profit of no less than 50 million yuan, or - An expected market value of no less than 1 billion yuan, positive net profit for the last year, and operating revenue of no less than 100 million yuan [1]

Investment Rating - The report maintains a "Recommended" rating for the mechanical industry, emphasizing the importance of robot application scenarios and AI-related equipment [2][7]. Core Insights - The mechanical industry is expected to enter a new recovery cycle driven by monetary and fiscal policies, with a focus on AI and automation technologies [7][20]. - Key companies in the industry are projected to experience significant revenue growth, with specific recommendations for companies like 汇川技术 (Inovance Technology), 信捷电气 (Xinjie Electric), and others [3][20]. - The demand for high-performance servers, GPUs, and advanced PCB equipment is surging due to the rapid iteration of AI models and smart hardware applications [7][20]. Summary by Sections Industry Overview - The mechanical industry comprises 633 listed companies with a total market capitalization of approximately 50,973.14 billion yuan [4]. - The industry has shown a 27.6% absolute performance increase over the past 12 months [5]. Key Company Earnings Forecasts - 汇川技术 (Inovance Technology): Expected EPS growth from 2.12 yuan in 2025 to 3.01 yuan in 2027, with a strong buy rating [3]. - 信捷电气 (Xinjie Electric): Projected EPS of 1.83 yuan in 2025, increasing to 2.78 yuan by 2027, rated as a strong buy [3]. - 法兰泰克 (Falan Tech): Anticipated EPS growth from 0.60 yuan in 2025 to 0.94 yuan in 2027, also rated as a strong buy [3]. Investment Recommendations - The report highlights the importance of focusing on companies involved in AI and robotics, particularly those with established partnerships and innovative solutions [7][20]. - Specific recommendations include companies like 柯力传感 (Keli Sensor), 东华测试 (Donghua Testing), and others in the robotics and automation sectors [7][20]. Market Trends - The report notes a significant increase in demand for automation and AI-related equipment, particularly in sectors such as automotive manufacturing and smart logistics [7][20]. - The mechanical industry is experiencing a shift towards more automated solutions, with a clear trend towards the commercialization of humanoid robots and AI applications [7][20].

Group 1 - The core viewpoint of the articles highlights the fundraising activities of companies listed on the STAR Market, with a total of 7 companies raising 7.901 billion yuan this year, averaging 1.129 billion yuan per company [1][2] - The company with the highest fundraising amount is Yitang Co., Ltd., which raised 2.497 billion yuan primarily for technology development and reserve funds [1] - Other notable companies include Yingshi Innovation, which raised 1.938 billion yuan for its R&D center and production base, and Xingfu Electronics, which raised 1.168 billion yuan [1] Group 2 - The average initial offering price for STAR Market stocks this year is 21.73 yuan, with Yingshi Innovation having the highest price at 47.27 yuan [1] - The issuance price of Yitang Co., Ltd. is the lowest at 8.45 yuan, while other companies like Sikan Technology and Hanbang Technology have initial prices of 33.46 yuan and 22.77 yuan respectively [1] - The issuance price-earnings ratio for the listed companies ranges from 6.14 to 51.55, with an average of 30.03 and a median of 26.35 [2] Group 3 - Geographically, the majority of the issued STAR Market companies are concentrated in Beijing, Jiangsu, and Hubei, with fundraising amounts led by Beijing at 3.359 billion yuan [2] - The companies with issuance price-earnings ratios above the industry average include Yitang Co., Ltd. and two others, while five companies fall below the industry average [2] - The detailed fundraising data for the listed companies includes their codes, names, issuance dates, prices, price-earnings ratios, and total funds raised [2]

Summary of Key Points from Conference Call Records Industry and Company Overview - **Yingshi Innovation**: Leading global provider of panoramic cameras with a market share of 67.2%. The handheld smart imaging device market reached RMB 36.47 billion in 2023, growing at 14.3% annually. The panoramic camera market is valued at RMB 5.03 billion, with future growth expected from the integration of panoramic and action cameras and emerging applications [1][5]. - **Sikang Technology**: Dominates the industrial-grade 3D laser scanner market, holding the top position in China and second globally. Revenue projections for 2022-2024 are RMB 210 million, RMB 270 million, and RMB 330 million, with an annual growth rate of 20%-30% [1][12]. - **Hanshuo Technology**: The third-largest electronic shelf label supplier globally, with a domestic market share of approximately 12%. The global electronic shelf label market is expected to reach RMB 35 billion by 2028 [1][14]. - **Taihe Co., Ltd.**: A leading pesticide manufacturer in China, with core products like Bacillus thuringiensis accounting for over 50% of global capacity. Revenue projections for 2022-2024 are RMB 5.1 billion, RMB 3.87 billion, and RMB 4.24 billion [1][20]. Core Insights and Arguments - **Yingshi Innovation**: The company maintains a strong position in the smart imaging device market, with a balanced online and offline sales strategy. The introduction of the X5 series panoramic camera has seen high demand due to its advanced features [3][8]. - **Sikang Technology**: The company has established strong partnerships with major automotive and aerospace firms, indicating a solid competitive advantage in high-precision markets [11]. - **Hanshuo Technology**: The company is well-positioned to benefit from the increasing penetration of electronic shelf labels in retail, driven by rising labor costs and inflation [16][15]. - **Taihe Co., Ltd.**: The company has a robust international presence through long-term collaborations with multinational corporations, enhancing its market position [21]. Financial Performance - **Yingshi Innovation**: Revenue is projected to grow from RMB 2.04 billion in 2022 to RMB 5.57 billion in 2024, with an average growth rate exceeding 50%. The expected revenue for the first half of 2025 is between RMB 3.2 billion and RMB 3.8 billion [10]. - **Sikang Technology**: Revenue is expected to grow steadily, with net profits increasing significantly in the first quarter of 2025 [12]. - **Hanshuo Technology**: Revenue is projected to increase from RMB 2.8 billion in 2022 to RMB 4.49 billion in 2024, despite a slight decline in Q1 2023 [19]. - **Taihe Co., Ltd.**: Revenue is expected to stabilize despite slight declines in 2023, with a significant increase in net profit in Q1 2025 [25]. Potential Risks - **Sikang Technology**: Faces risks related to its small revenue base and the competitive landscape, as well as macroeconomic factors affecting industrial clients [13]. - **Taihe Co., Ltd.**: Risks include price volatility in agricultural products, uncertainties in the promotion of new varieties, and potential trade policy fluctuations [26]. Additional Important Insights - **Emerging Applications**: Yingshi Innovation is exploring new fields such as VR real estate viewing, panoramic news broadcasting, and security monitoring, which could provide additional growth opportunities [9]. - **Market Trends**: The electronic shelf label market is expected to grow significantly, with a current penetration rate of only 15% globally, indicating substantial room for growth [15].

Industry Overview - The 3D visual digitalization product industry in China is entering a golden development period, with a projected market size of approximately 2.9 billion yuan in 2024, representing a year-on-year growth of 34.72% [1][13] - Growth is driven by multiple factors, including explosive growth in the new energy vehicle supply chain, increasing industrial demand for battery module testing and automotive body measurement, and the continuous release of demand for 3D detection in the clean energy sector [1][13] - The integration of AI and 3D visual technology is creating new applications in non-industrial fields such as medical orthodontics and cultural relic reconstruction [1][13] Industry Development History - The industry has experienced four main stages: 1. **Incubation Period (1980-2000)**: Emergence of 3D scanning technology with limited precision and efficiency, primarily used in research and high-end manufacturing [4] 2. **Market Cultivation Period (2001-2010)**: Commercial breakthroughs in laser scanning and structured light technology, expanding into industrial inspection [5] 3. **Diversified Application Period (2011-2020)**: Integration of AI with 3D visual technology, expanding applications into non-industrial fields [6] 4. **Ecosystem Construction Period (2021-Present)**: Multi-technology integration and the popularity of portable devices, driving the industry towards intelligence and automation [6] Industry Value Chain - The upstream of the industry includes raw materials and components, software services, and production equipment [8][9] - The midstream focuses on the research and development of 3D visual digitalization products [8] - The downstream applications span various sectors, including automotive, industrial machinery, aerospace, energy, healthcare, education, cultural relics, 3D printing, virtual reality, and gaming [8] Market Size - The market for 3D visual digitalization products in China is projected to reach approximately 2.9 billion yuan in 2024, with a year-on-year growth of 34.72% [1][13] - The explosive growth in the new energy vehicle supply chain and the national strategy promoting clean energy are key drivers of this growth [1][13] Key Companies' Performance - The industry has formed a competitive landscape characterized by "dual super and multiple strong" players, with Sikan Technology and Xianlin 3D as the dual super leaders [15] - Sikan Technology leads in handheld laser scanning technology, serving major national projects like the C919 aircraft and the Chinese space station [15] - Xianlin 3D specializes in high-precision industrial 3D scanning, with a significant market share in dental digitalization and automotive reverse engineering [15] Industry Development Trends 1. **Technological Integration**: The integration of 3D visual technology with AI, 5G, and IoT is accelerating the penetration of applications into non-industrial fields [20] 2. **Domestic Substitution**: Significant progress has been made in domestic substitution of core components, reducing reliance on imports [21][22] 3. **Globalization**: Leading companies are restructuring the global market through technology output and localized operations, enhancing China's influence in international standards [23]

特此公告。 思看科技（杭州）股份有限公司董事会 联系部门：董事会办公室 联系电话：0571-86362816 证券代码：688583 证券简称：思看科技 公告编号：2025-023 思看科技（杭州）股份有限公司 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。 重要内容提示： ? 股权登记日：2025 年 6 月 18 日 ? 除权日：2025 年 6 月 19 日 ? 本次上市无限售股份数量：3,834,104股 ? 上市日期：2025 年 6 月 19 日 ? 是否涉及差异化分红送转：否 一、 新增无限售流通股上市情况 （一） 权益分派方案简述： 本次利润分配及转增股本以方案实施前的公司总股本68,000,000股为基数，每 股派发现金红利0.55元（含税），以资本公积金向全体股东每股转增0.3股，共计派 发现金红利37,400,000元，转增20,400,000股，本次分配后总股本为88,400,000股。 （二） 股权登记日、除权日 本次权益分派的股权登记日为：2025 年 6 月 18 日。 本次权益分派的除权日为： ...

证券代码：688583 证券简称：思看科技 公告编号：2025-023 思看科技（杭州）股份有限公司 2024年年度权益分派实施结果暨股份上市公告 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。 重要内容提示： 一、 新增无限售流通股上市情况 （一） 权益分派方案简述： 本次利润分配及转增股本以方案实施前的公司总股本68,000,000股为基数，每 股派发现金红利0.55元（含税），以资本公积金向全体股东每股转增0.3股，共计派 发现金红利37,400,000元，转增20,400,000股，本次分配后总股本为88,400,000股。 （二） 股权登记日、除权日 本次权益分派的股权登记日为：2025 年 6 月 18 日。 本次权益分派的除权日为：2025 年 6 月 19 日。 股权登记日：2025 年 6 月 18 日 除权日：2025 年 6 月 19 日 本次上市无限售股份数量：3,834,104股 上市日期：2025 年 6 月 19 日 是否涉及差异化分红送转：否 （三） 上市数量 本次上市无限售股份数量为：3,8 ...

思看科技（杭州）股份有限公司 2024年年度权益分派实施公告 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。 重要内容提示： | 股权登记日 | 除权（息）日 | 新增无限售条件流 | 现金红利发放日 | | --- | --- | --- | --- | | | | 通股份上市日 | | | 2025/6/18 | 2025/6/19 | 2025/6/19 | 2025/6/19 | 一、 通过分配、转增股本方案的股东大会届次和日期 证券代码：688583 证券简称：思看科技 公告编号：2025-022 本次利润分配及转增股本方案经公司2025 年 5 月 27 日的2024年年度股东大会 审议通过。 公司存在首发战略配售股份，首发战略配售股份未全部上市流通 是否涉及差异化分红送转：否 每股分配比例，每股转增比例 每股现金红利0.55元 每股转增0.3股 相关日期 二、 分配、转增股本方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司 ...

Core Points - The company announced a profit distribution and capital increase plan, which was approved at the annual shareholders' meeting on May 27, 2025 [2] - The profit distribution includes a cash dividend of 0.55 RMB per share and a capital increase of 0.3 shares for every share held [1][2] - The total cash dividend distributed will amount to 37.4 million RMB, and the capital increase will result in an additional 20.4 million shares, bringing the total share capital to 88.4 million shares [2][8] Distribution and Capital Increase Plan - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the registration date [2] - The cash dividend will be paid out through the clearing system of the China Securities Depository and Clearing Corporation [2][3] - The capital increase will be directly credited to shareholders' accounts based on their holdings as of the registration date [3] Tax Implications - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax, resulting in a net cash dividend of 0.55 RMB per share [3][4] - For shares held for less than one year, the tax will be calculated upon transfer, with the actual cash dividend remaining at 0.55 RMB per share until the transfer occurs [4][5] - For foreign institutional investors, a withholding tax of 10% will apply, resulting in a net cash dividend of 0.495 RMB per share [6][7] Share Capital Structure - The company’s total share capital before the distribution was 68 million shares, which will increase to 88.4 million shares after the capital increase [8] - The diluted earnings per share for the fiscal year 2024, after the capital increase, is projected to be 1.82 RMB [8]

思看科技（杭州）股份有限公司 证券代码：688583 证券简称：思看科技 公告编号：2025-022 2024年年度权益分派实施公告 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。 重要内容提示： | 股权登记日 | 除权（息）日 | 新增无限售条件流 | 现金红利发放日 | | --- | --- | --- | --- | | | | 通股份上市日 | | | 2025/6/18 | 2025/6/19 | 2025/6/19 | 2025/6/19 | 一、 通过分配、转增股本方案的股东大会届次和日期 本次利润分配及转增股本方案经公司2025 年 5 月 27 日的2024年年度股东大会 审议通过。 公司存在首发战略配售股份，首发战略配售股份未全部上市流通 是否涉及差异化分红送转：否 每股分配比例，每股转增比例 每股现金红利0.55元 每股转增0.3股 相关日期 二、 分配、转增股本方案 1. 发放年度：2024年年度 四、 分配、转增股本实施办法 1. 实施办法 （1）公司全部 A 股股东的现金红利由公司委托中国结算 ...