Core Viewpoint - The acquisition of a controlling stake in Upwind New Materials by Zhiyuan Robotics marks a significant move towards establishing a humanoid robotics company on the STAR Market, potentially positioning it as the first humanoid robot stock in A-shares [3][4][15]. Group 1: Acquisition Details - On July 9, Upwind New Materials announced that Zhiyuan Robotics, through its controlled entity Zhiyuan Hengyue, will acquire at least 63.62% of its shares for no less than 1.996 billion yuan [1][2]. - Following the transaction, the controlling shareholder and actual controller of Upwind New Materials will change to Zhiyuan Hengyue and Deng Taihua [2]. - The market reacted positively, with Upwind New Materials hitting the daily limit up on the announcement day [6]. Group 2: Future Listing Potential - If the acquisition is successful, Upwind New Materials could become the first humanoid robotics company listed on the STAR Market [3]. - There is speculation about whether Upwind New Materials will serve as a future listing platform for Zhiyuan Robotics, enhancing its position in the A-share market [4][15]. - Zhiyuan Robotics has a valuation of 15 billion yuan, significantly higher than Upwind New Materials' 3.1 billion yuan market cap, creating substantial market expectations [13][14]. Group 3: Paths to Listing - Three potential paths for Zhiyuan Robotics to achieve a public listing through Upwind New Materials are identified: reverse merger, restructuring after a 36-month waiting period, and gradual asset injection [11][28]. - The reverse merger path faces challenges, including stringent financial requirements and a lack of precedents in the STAR Market [19][21]. - The restructuring option would require a waiting period of 36 months, raising concerns about the future market conditions for the robotics industry [23][27]. - Gradual asset injection could avoid the classification of a reverse merger, but it also presents challenges regarding the timing and industry synergy [28][38]. Group 4: Financial Implications - The acquisition involves a total consideration of approximately 1.1 billion yuan, funded through Zhiyuan Robotics' own capital and acquisition loans [50]. - Although leveraging is involved, the transaction is expected to enhance Zhiyuan Robotics' financing capabilities post-acquisition [52]. - The potential for stock pledge financing could arise as Upwind New Materials' value increases, providing low-cost financing options for Zhiyuan Robotics [53]. Group 5: Market Context - The current stringent IPO review process in the A-share market may lead early-stage tech companies to consider similar acquisition strategies as a viable path to public listing [54]. - Recent cases of innovative acquisitions in the market suggest a growing trend towards such strategies, although the success of these operations remains uncertain [55].

对此，7月10日下午，智元机器人向笔者独家回应称：不属实，智元暂无赴港上市明确计划。 据悉，智元机器人成立于2023年2月，致力于打造领先的通用具身机器人产品及应用生态。 7月10日消息，智元机器人及其核心团队近期拟总价约21亿元收购上纬新材(688585.SH)至少63.62%股份，入主科创板上市公司"上纬新材"引发关注。 e // d state t 具身智能头部公司智元机器人否认赴港上市传闻。 早前有媒体爆料称，智元机器人的投资方认为此次收购交易将帮助智元完善多层次资本市场布局。多位智元机器人的投资方确认，公司(智元机器人)赴港上 市目标不变。 如今，智元机器人再次行动惊人，拿下科创板上市公司控股权，不走IPO，但完成了通向公开资本市场的关键一步。 针对"借壳上市"传闻，智元机器人方面向笔者回应称，本次收购为通过"协议转让+主动要约"方式收购上市公司的控股权，不构成《重大资产重组办法》中 的重组上市。 智元机器人方面强调，智元机器人暂无在未来12个月内对上市公司主营业务做出重大改变或调整的明确计划，以及暂无在未来12个月内对上市公司及其子公 司的资产和业务进行重大资产重组的明确计划，或上市公司拟购买或置 ...

智元机器人回应拟港股IPO：不属实 《科创板日报》10日讯，今日有消息称智元机器人上市目的地为港股，并在推进港股IPO事宜。对此， 智元机器人回应《科创板日报》记者称，不属实，智元机器人暂无赴港上市明确计划。7月8日晚间，智 元机器人宣布收购科创板上市公司上纬新材控股权。（记者 黄心怡） ...

证券代码：688585 证券简称：上纬新材 公告编号：2025-051 1 公司股票交易于 2025 年 7 月 9 日、2025 年 7 月 10 日连续两个交易日内日 收盘价格涨幅偏离值累计达到 30%，根据《上海证券交易所交易规则》《上海证 券交易所科创板股票异常交易实时监控细则》的有关规定，属于股票交易异常波 动。 上纬新材料科技股份有限公司 股票交易异常波动公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 上纬新材料科技股份有限公司（以下简称"公司"或"上纬新材"）股 票交易于2025年7月9日、2025年7月10日连续两个交易日内日收盘价格涨幅偏离 值累计达到30%，根据《上海证券交易所交易规则》《上海证券交易所科创板股 票异常交易实时监控细则》的有关规定，属于股票交易异常波动。 公司自查并向控股股东核实，截至本公告披露日，除公司已披露信息外， 公司、公司控股股东SWANCOR IND.CO.,LTD.（Samoa）（以下简称"SWANCOR 萨摩亚"）不存在应披露而未披露的重大信息。 公司 ...

证券代码：688585 证券简称：上纬新材 上纬新材料科技股份有限公司 2025 年第二次临时股东会会议资料 2025 年 7 月 1 | | | 上纬新材料科技股份有限公司 2025 年第二次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会会议秩序和议事效率，保证股东 会的顺利召开，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》"）《上市公司股东会规则》《上纬新材 料科技股份有限公司章程》（以下简称"《公司章程》"）及《上纬新材料科技股份 有限公司股东会议事规则》等相关规定，特制定上纬新材料科技股份有限公司（以 下简称"公司"）2025 年第二次临时股东会会议须知： 一、为保证本次会议的严肃性和正常秩序，切实维护与会股东及股东代理人 的合法权益，除出席会议的股东及股东代理人、公司董事、监事、高管人员、见 证律师及董事会邀请的人员外，公司有权依法拒绝其他无关人员进入会场。 二、出席会议的股东及股东代理人须在会议召开前 30 分钟到会议现场办理 签到手续，并请按规定出示身份证明文件或营业执照复印件、授权委托书等，上 述登记材料均需提供复印件一份， ...

两市涨停股一览 | 代码 | 简称 | 收盘价（元） | 换手率（%） | 涨停板封单（万股） | 封单资金（万元） | 行业 | | --- | --- | --- | --- | --- | --- | --- | | 688585 | 上纬新材 | 11.21 | 0.23 | 10736.54 | 120356.61 | 基础化工 | | 605122 | 四方新材 | 17.26 | 1.02 | 3936.22 | 67939.21 | 建筑材料 | | 600111 | 北方稀土 | 27.01 | 8.21 | 1551.85 | 41915.45 | 有色金属 | | 002121 | 科陆电子 | 6.26 | 2.27 | 3942.05 | 24677.23 | 电力设备 | | 600962 | 国投中鲁 | 19.67 | 0.72 | 1103.90 | 21713.75 | 农林牧渔 | | 000607 | 华媒控股 | 6.00 | 7.05 | 3523.65 | 21141.87 | 传媒 | | 601908 | 京运通 | 3.84 | 3.46 | 4788.13 ...

Core Viewpoint - The acquisition of control over Upwind New Materials by Zhiyuan Robotics is a strategic move that has sparked significant discussion in the capital market, highlighting the potential for both investment opportunities and risks associated with the transaction [1] Group 1: Acquisition Structure - The acquisition will be executed in three steps, with Zhiyuan Hengyue and its action group Zhiyuan New Venture committing approximately 2.1 billion yuan to acquire about 69.99% of Upwind New Materials [2][6] - The first step involves a share transfer agreement where Zhiyuan Hengyue will acquire 24.99% of Upwind New Materials' total shares, while Zhiyuan New Venture will acquire an additional 5% [2][3] - The second step includes the relinquishment of voting rights by the current shareholders, allowing Zhiyuan Hengyue to become the controlling shareholder of Upwind New Materials [4] Group 2: Financial Details - The share transfer is priced at 7.78 yuan per share, totaling approximately 941 million yuan for the initial transfer [3] - The final step involves a partial tender offer to acquire an additional 37% of shares, estimated to cost around 1.16 billion yuan [5][6] - Upon completion of all transactions, Zhiyuan Hengyue and Zhiyuan New Venture will collectively hold approximately 66.99% of Upwind New Materials, with the total transaction amounting to about 2.1 billion yuan [6] Group 3: Strategic Implications - The acquisition is designed to enhance control over Upwind New Materials, with potential synergies in business operations, particularly in the fields of new materials and robotics [10][11] - Upwind New Materials specializes in high-performance corrosion-resistant materials and has applications in energy conservation and new energy sectors, which may align with Zhiyuan Robotics' strategic goals [10][11] - The transaction has raised questions about whether it constitutes a "backdoor listing," but Zhiyuan Robotics has clarified that it is a control transfer rather than a major asset restructuring [13][21] Group 4: Market Reaction and Future Prospects - Following the announcement, Upwind New Materials' stock price experienced significant increases, indicating strong market interest and speculation regarding the potential for future growth [22] - The transaction includes performance commitments from the sellers, ensuring that Upwind New Materials achieves specific profit targets over the next three years [21] - The strategic design of the acquisition allows for flexibility in capital operations, potentially enabling Zhiyuan Robotics to navigate market fluctuations effectively [20][23]

Market Overview - The Shanghai Composite Index increased by 0.36% as of the morning close, with a trading volume of 783.11 million shares and a transaction amount of 934.47 billion yuan, a decrease of 3.50% compared to the previous trading day [1] Industry Performance - Real estate, banking, and oil & petrochemicals sectors showed the highest gains, with increases of 1.53%, 1.42%, and 1.23% respectively [1] - The automotive, defense, and electronics sectors experienced the largest declines, with decreases of 0.93%, 0.92%, and 0.76% respectively [2] Leading Stocks - In the real estate sector, Yuhua Development led with a gain of 9.94% [1] - In the banking sector, Minsheng Bank rose by 5.12% [1] - In the oil & petrochemicals sector, *ST Xinchao increased by 5.08% [1] - In the steel sector, Jinling Mining surged by 10.02% [1] - In the non-bank financial sector, Nanhua Futures also rose by 10.02% [1] - In the pharmaceutical sector, Qianyuan Pharmaceutical saw a significant increase of 19.98% [1] Sector Summary - The real estate sector had a transaction amount of 117.03 billion yuan, up 26.74% from the previous day [1] - The banking sector recorded a transaction amount of 266.82 billion yuan, up 36.61% [1] - The oil & petrochemicals sector had a transaction amount of 80.95 billion yuan, up 36.47% [1] - The automotive sector had a transaction amount of 389.36 billion yuan, down 16.50% [2] - The defense sector recorded a transaction amount of 316.85 billion yuan, down 23.79% [2] - The electronics sector had a transaction amount of 1,036.63 billion yuan, down 10.88% [2]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Composite Index decreased by 0.09% as of July 10, 2025, with mixed performance among constituent stocks [1] - Shanghai Zhi Yuan New Technology Co., Ltd. plans to acquire at least 63.62% of the shares of Shangwei New Materials, with a total transaction value exceeding 2.1 billion yuan [1] - The market is concerned about the business synergy between the acquiring company, valued at 15 billion yuan, and the target company, with a market value of approximately 4.52 billion yuan [1] Group 2 - The Sci-Tech Innovation Board's outlook is positive, with increasingly diverse investment tools available [2] - The Huaxia Sci-Tech Innovation Index ETF (589000) has been actively traded, leading its peers with an average daily transaction of 134 million yuan over the past week [2] - The previously launched Sci-Tech 50 ETF (588000) and Sci-Tech 100 ETF Huaxia (588800) have also gained market recognition, with the latter being positioned as a tool for capturing rebounds in a bull market [2]

上纬新材20cm涨停，智元机器人通过其持股平台将收购该公司至少63.62%、至多66.99%的股份，控股 股东变更为智元恒岳。资本市场目前将其视为"人形机器人第一股"。 ...