格隆汇1月12日丨宏华数科(688789.SH)公布，近日，杭州宏华数码科技股份有限公司控股子公司天津宏 华数码新材料有限公司(以下简称"宏华新材料")于近日收到由天津市科学技术局、天津市财政局、国家 税务总局天津市税务局联合颁发的《高新技术企业证书》，证书编号为GR202512001995，发证日期： 2025年12月8日，有效期三年。宏华新材料本次获得高新技术企业证书系首次认定。 ...

格隆汇1月12日丨宏华数科(688789.SH)公布，近日，杭州宏华数码科技股份有限公司控股子公司天津宏 华数码新材料有限公司(以下简称"宏华新材料")于近日收到由天津市科学技术局、天津市财政局、国家 税务总局天津市税务局联合颁发的《高新技术企业证书》，证书编号为GR202512001995，发证日期： 2025年12月8日，有效期三年。宏华新材料本次获得高新技术企业证书系首次认定。 ...

Investment Rating - The report rates the mechanical industry as "Overweight" [5] Core Insights - The mechanical equipment index increased by 5.98% during the week of January 5 to January 9, 2026, outperforming the CSI 300 index, which rose by 2.79% [8] - China has submitted applications for 203,000 new satellites covering 14 satellite constellations, indicating a significant expansion in the commercial space sector [5] - The CES 2026 showcased advancements in humanoid robots, with companies like Upward and Boston Dynamics unveiling new models, highlighting the industry's shift towards diversification and automation [5] Summary by Sections Weekly Market Summary - The mechanical equipment sector's performance was ranked 10th among 31 first-level industries, with a weekly increase of 5.98% [8] - The mechanical industry index has risen by 53.09% since the beginning of 2025, compared to a 24.57% increase in the CSI 300 index [10] Key Macro Data - The manufacturing PMI for December 2025 was reported at 50.1%, indicating stable growth in the sector [15] - The production index and order index for December 2025 were 50.8% and 51.7%, respectively, suggesting positive trends in manufacturing activity [21] Sub-industry Data Summary Engineering Machinery Industry - Excavator sales in December 2025 reached 23,095 units, a year-on-year increase of 19.2% [36] Machine Tool and Industrial Robot Industry - Industrial robot production in November 2025 was 70,188 units, reflecting a year-on-year growth of 20.6% [41] Rail Transit Industry - The cumulative production of EMUs from January to November 2025 was 1,722 units, with November production showing a year-on-year increase of 24.1% [45] Oilfield Equipment Industry - The global active drilling rig count was 1,813 units as of November 2025, with Brent crude oil averaging $63.34 per barrel on January 9, 2026 [53] Semiconductor Equipment Industry - Semiconductor sales in November 2025 reached $75.28 billion, with a month-on-month increase of 3.53% [76] Key Company Earnings Forecast - The report recommends several companies for investment, including: - Humanoid Robots: Hengli Hydraulic, Changying Precision, and others [5] - Chip Equipment: Keri Technology [5] - Commercial Aerospace: Plit [5] - AI Infrastructure: Ice Wheel Environment, Hanzhong Precision, and others [5] - Engineering Machinery: Sany Heavy Industry, XCMG, and others [5] - Export Chain: Honghua Digital Science, Juxing Technology, and others [5]

Core Viewpoint - The consumption of disperse ink in China is expected to grow significantly from 6,300 tons in 2015 to 36,000 tons by 2024, with a compound annual growth rate (CAGR) of 21%, driven by the increasing penetration of digital printing technology and the optimization of disperse ink performance [1][7]. Industry Overview - Disperse ink is primarily made from disperse dyes and is mainly used for printing on polyester fabrics, offering advantages such as vibrant colors, excellent wash fastness, and short dyeing times [3][6]. - The market is divided into two main segments: sublimation ink, which accounts for 90% of the market, and high-temperature disperse ink, which is expected to gain market share due to its environmental benefits [1][7]. Market Segmentation - Sublimation ink is the most widely used due to its efficiency and ability to detect defects during the transfer process, thus reducing production costs [1][7]. - High-temperature disperse ink, while currently holding a smaller market share, is more environmentally friendly as it eliminates the need for transfer paper, which is expected to enhance its market presence in the future [1][11]. Competitive Landscape - The disperse ink market has seen a shift from foreign dominance to a more competitive landscape with domestic companies like Zhejiang Lanyu Digital Technology Co., Ltd. and Zhengzhou Hongsheng Digital Technology Co., Ltd. gaining significant market share [2][9]. - Companies are focusing on R&D and local production to meet the growing demand for high-quality disperse inks [9][10]. Industry Development Trends 1. **Increase in High-Temperature Disperse Ink Market Share** - High-temperature disperse ink is becoming a preferred choice due to its compliance with environmental regulations and its ability to solve issues related to color migration in sublimation inks [11][12]. 2. **Product Functionalization and Value Addition** - Companies are integrating additional functionalities into disperse inks, such as flame retardancy and UV resistance, to meet diverse market needs, particularly in sportswear and outdoor applications [12][13]. 3. **Market Consolidation and Focus on Leading Enterprises** - The industry is moving towards consolidation, with leading companies expanding their market share while smaller firms face challenges due to rising costs and regulatory pressures [13].

Core Viewpoint - The demand for active ink in China's market is increasing due to the growth in downstream applications, innovations in digital inkjet printing technology, and stricter environmental policies promoting sustainable alternatives to traditional dyes [1][7]. Industry Overview - The active ink industry in China has seen a rise in consumption from 1,400 tons in 2015 to an expected 8,100 tons by 2024, indicating a stable growth trend [1][7]. - Active ink is primarily used in digital inkjet printing, which includes dye-based and coating inks, with active dye ink being a significant component due to its superior performance [3][4]. Industry Chain - The upstream of the active ink industry includes raw materials such as active dyes, surfactants, and deionized water, while the midstream involves the manufacturing of active ink products, and the downstream focuses on applications in textiles and printing [4][5]. Competitive Landscape - The high-end market for active ink is dominated by companies from Europe, the United States, Japan, and South Korea, while China's industry is characterized by smaller firms with varying capabilities, although some strong domestic manufacturers are emerging [8]. Related Companies - Key players in the active ink market include Blue Universe Co., Ltd., Honghua Digital Technology Co., Ltd., and Zhejiang Longsheng Group, among others, which are involved in the research, production, and sales of digital printing inks [9][10]. Development Trends - The active ink industry is expected to expand beyond textile printing into flexible electronics and smart packaging, with a focus on multifunctionality and environmental sustainability [12][13].

格隆汇12月30日丨宏华数科(688789.SH)公布，近日，公司收到了新湖智脑出具的《关于减持计划完成 的通知》，截至2025年12月29日，新湖智脑通过集中竞价方式累计减持了公司股份179.44万股，通过大 宗交易方式累计减持了公司股份269.17万股，占公司当前总股本的2.49%。截至本公告披露日，本次减 持计划减持时间区间届满，减持计划已实施完毕。 ...

证券代码：688789 证券简称：宏华数科 公告编号：2025-060 杭州宏华数码科技股份有限公司 关于持股 5%以上股东减持股份计划时间届满暨减 持股份结果公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况 本次减持实施前，浙江新湖智脑投资管理合伙企业（有限合伙）（以下简称 "新湖智脑"）持有杭州宏华数码科技股份有限公司（以下简称"公司"或"宏 华数科"）15,702,226 股股份，占公司总股本的 8.75%。上述股份来源为公司首 次公开发行股票并上市前取得及上市后以资本公积转增股本取得的股份，且已于 2022 年 7 月 8 日起上市流通。 减持计划的实施结果情况 2025 年 9 月 9 日，公司在上海证券交易所网站（www.sse.com.cn）披露了 《杭州宏华数码科技股份有限公司持股 5%以上股东减持股份计划公告》（公告 编号：2025-039），公司股东新湖智脑因自身资金需求，拟自减持计划公告披露 之日起 15 个交易日之后的 3 个月内通过上海证券交易所 ...

Core Viewpoint - The company, Hangzhou Honghua Digital Technology Co., Ltd., has provided a guarantee for its associate company, Zhejiang Honghua Baijin Qianyin Home Textile Technology Co., Ltd., to support its financing needs, which is expected to enhance operational efficiency and align with the company's strategic interests [1][9]. Group 1: Guarantee Details - The company signed a syndicate loan guarantee contract on April 15, 2024, to provide a guarantee of up to RMB 140 million for Baijin Qianyin [1]. - The total loan amount has been reduced from RMB 400 million to RMB 385 million due to the repayment of RMB 15 million by Baijin Qianyin [2]. - The company plans to provide a guarantee amount not exceeding RMB 134.75 million, with the guarantee being a joint responsibility with other shareholders based on their shareholding ratios [2][8]. Group 2: Internal Decision-Making Process - The board of directors approved the guarantee proposal during the fifth meeting of the eighth board on December 25, 2025, and this decision does not require shareholder approval [3][9]. Group 3: Financial and Operational Status of the Guaranteed Entity - Baijin Qianyin is not classified as a dishonest entity, has clear ownership, and is free from any significant litigation or arbitration issues [6]. - The financial condition of Baijin Qianyin is reported to be good, and the associated financial risks are considered manageable [8]. Group 4: Board and Sponsor Opinions - The board believes that providing the guarantee is beneficial for the operational development of Baijin Qianyin and aligns with the company's overall interests, with controllable risks [9]. - The sponsor has confirmed that the guarantee complies with relevant regulations and does not harm the interests of the company or its shareholders [10].

中信证券股份有限公司 关于杭州宏华数码科技股份有限公司 为参股公司提供担保的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为杭州宏 华数码科技股份有限公司（以下简称"宏华数科"或"公司"）持续督导的保荐 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》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等 有关规定，对宏华数科为参股公司提供担保事项进行了核查，具体情况及核查意 见如下： 一、担保情况概述 （一）担保的基本情况 为满足参股公司经营和发展需求，提高其决策效率，公司于 2024 年 4 月 15 日与湖州银行股份有限公司长兴支行、北京银行股份有限公司杭州分行签署了 《银团贷款保证合同》，公司为参股公司浙江宏华百锦千印家纺科技有限公司（以 下简称"百锦千印"）向湖州银行股份有限公司长兴支行、北京银行股份有限公 司杭州分行申请总额为人民币 14,000 万元的担保额度而签订的《银团贷款保证 合同》所产生的所有债务承担连带保证责任。具体内容详见公司于 2024 年 4 月 17 日披露于上海证券交易所网站（www.sse.com.cn）的《 ...

证券代码：688789 证券简称：宏华数科 公告编号：2025-059 杭州宏华数码科技股份有限公司 关于为参股公司提供担保的公告 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、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | 实际为其提供的 担保余额（不含 | | 是否在前期预 | 本次担保 是否有反 | | --- | --- | --- | --- | --- | --- | | | | | | 计额度内 | | | | | 本次担保金额） | | | 担保 | | 浙江宏华百锦 | | | | 不适用：_本次 | | | 千印家纺科技 | 13,475.00 万元 | 10,219.13 | 万元 | 为审议新的担 | 否 | | 有限公司 | | | | 保额度_ | | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股子公司对外担保总额（万元） | 63,475.00 | | 对外担保总额占上市公司最近一期经审计净 ...