Core Viewpoint - Hanhigh Group successfully listed on the Shenzhen Stock Exchange, marking a significant addition of a high-growth and scarce asset in the A-share market, with a strong position in the domestic home hardware and outdoor furniture sectors [1] Company Performance - Hanhigh Group's revenue is projected to grow from 1.62 billion yuan in 2022 to 2.86 billion yuan in 2024, with a compound annual growth rate (CAGR) of 32.78%. The net profit attributable to the parent company is expected to rise from 199 million yuan to 520 million yuan during the same period, with a CAGR of 61.83% [1] - The company has established itself as a leading player in the home hardware industry, ranking among the top five according to the China Hardware Products Association [2] Product and Market Position - Hanhigh Group's product categories include storage hardware, basic hardware, kitchen and bathroom hardware, and outdoor furniture, with its kitchen pull-out basket products ranking first in sales on major e-commerce platforms for three consecutive years [2] - The company has a higher gross margin compared to its A-share peers, with gross margins of 31.89% in 2022 and 34.58% in 2023, compared to the industry average of 24.18% and 27.87% [3] Brand and Innovation - The brand's recognition is supported by its commitment to quality, with significant investments in research and development, resulting in 1,173 patents held by the company, surpassing industry averages [4] - Hanhigh Group has received multiple design awards, enhancing its brand image and market acceptance [4] Expansion and Future Plans - The company plans to utilize funds from its IPO to enhance its production capacity and establish a smart home hardware automation manufacturing base, which will improve its production efficiency and market competitiveness [7] - Hanhigh Group aims to expand its product line to include full-house hardware solutions and strengthen its presence in international markets, particularly in Southeast Asia, Western Europe, and North America [8] Market Trends - There is a clear trend of mid-to-high-end home hardware products replacing low-end alternatives in the domestic market, with the penetration rate of smart damping and electric lifting kitchen pull-out baskets reaching 21.4% in 2023, an increase of 13.8 percentage points since 2020 [9] - Hanhigh Group is well-positioned to benefit from this trend, potentially replacing foreign high-end brands in the long term [9]

Core Viewpoint - Han Gao Group officially listed on the Shenzhen Stock Exchange on July 30, 2023, marking it as the first main board listed company in Foshan this year, with a significant increase in market value on its debut [1][3]. Company Overview - Han Gao Group, founded in 2004 and headquartered in Shunde District, Foshan, specializes in the research, design, production, and sales of home hardware and outdoor furniture, with a strong focus on storage hardware [3][4]. - The company has achieved the highest domestic sales in the storage hardware sector in 2022, confirming its leading position in the industry [3]. IPO and Market Performance - The initial public offering (IPO) price was set at 15.43 yuan per share, with a total share capital of 400 million shares, of which 34.92 million shares were available for trading, accounting for 10% of the total [3][4]. - On the first trading day, the stock opened at 47.01 yuan, representing a 204.67% increase, and reached a peak of 110 yuan, marking a 612.9% rise before closing at 80 yuan, a 418.47% increase [3][4]. - As of July 31, 2023, the stock price settled at 60.19 yuan, reflecting a 24.76% decline, with a total market capitalization of 24.1 billion yuan [3]. Financial Performance - Han Gao Group's revenue for 2022, 2023, and 2024 is projected to be 1.62 billion yuan, 2.22 billion yuan, and 2.86 billion yuan, respectively, with corresponding net profits of 199 million yuan, 329 million yuan, and 520 million yuan [7]. - For the first half of 2025, the company anticipates revenue between 1.39 billion yuan and 1.50 billion yuan, indicating a year-on-year growth of 17.04% to 26.77% [7]. Ownership and Control - The actual controllers of Han Gao Group are siblings Ou Jinfeng and Ou Jinli, holding a combined 83.74% of the company's shares and 89.76% of the voting rights, ensuring absolute control [5]. - Following the IPO, their direct and indirect shareholding decreased to 81.79%, resulting in an estimated wealth increase of approximately 20 billion yuan on the listing day [5]. Industry Context - The overall performance of the home furnishing industry has been declining, with a reported 3.9% decrease in revenue for large-scale furniture enterprises in the first five months of 2023 [10]. - Despite the downturn in the industry, Han Gao Group's significant revenue growth raises questions about its sustainability and market positioning [10]. Employee Compensation - The salaries of the actual controllers, Ou Jinfeng and Ou Jinli, are projected to exceed 6 million yuan in 2024, with Ou Jinfeng's salary increasing by 112.3% to 4.08 million yuan [11]. - The average salary for all employees in 2024 is reported to be 126,700 yuan, which is higher than the average salaries in the local market [19].

Group 1 - The company focuses on the home hardware and outdoor furniture sectors, aligning with the trend of systematic development in home hardware [1] - The company plans to leverage its years of technological accumulation and market experience to manage the entire product lifecycle in a market-oriented manner [1] - The company aims to enhance its smart manufacturing capabilities, improve production efficiency, ensure product quality, and continuously expand production capacity to solidify the market position of its core products [1] Group 2 - Currently, the company has no business cooperation with the Yaxia Hydropower Station [1]

证券时报·数据宝统计，截至（7月31日）收盘，沪指报3573.21点，跌42.51点，跌幅为1.18%；深成指报 11009.77点，跌193.26点，跌幅为1.73%；创业板指报2328.31点，跌39.37点，跌幅为1.66%。个股方 面，今日102只A股换手率超过20%，其中，鼎佳精密、C悍高等5只个股换手率达五成以上，半数筹码 易主。（数据宝） 7月31日两市换手率居前个股一览 | 证券代码 | 证券简称 | 收盘价（元） | 换手率（%） | 涨跌幅（%） | | --- | --- | --- | --- | --- | | 920005 | 鼎佳精密 | 64.63 | 89.34 | 479.12 | | 001221 | C悍高 | 60.19 | 74.46 | -24.76 | | 301357 | 北方长龙 | 102.95 | 66.12 | 17.22 | | 832662 | 方盛股份 | 30.97 | 58.24 | 15.13 | | 839680 | *ST广道 | 12.24 | 51.63 | 29.94 | | 002570 | 贝因美 | 7.65 | 46.20 ...

格隆汇7月31日丨悍高集团(001221.SZ)在互动平台表示，公司一直专注于家居五金与户外家具领域，未 来将顺应系统化家居五金的发展趋势，利用多年技术积累和市场沉淀，以市场为导向进行产品的全生命 周期管理，进一步提升智能制造水平，提高生产效率，保障产品质量，持续扩大产能，巩固核心产品的 市场地位。目前，公司未与雅下水电站有业务合作。 ...

Group 1 - The company is focused on the home hardware and outdoor furniture sectors [1] - There is currently no business cooperation between the company and the Yaxia Hydropower Station [1]

悍高集团本次发行费用总额(具体发行费用均不含增值税)为10,673.17万元，其中保荐及承销费用 6,000.00万元。 中国经济网北京7月31日讯悍高集团(001221.SZ)今日收报60.19元，跌幅24.76%，总市值240.77亿元。跌 幅位居A股首位。 悍高集团7月30日在深市主板上市，本次公开发行股票4,001.0000万股，占发行后总股本的比例为 10.00%，本次发行股份均为新股，无老股转让，公司股东不进行公开发售股份，发行价格为15.43元/ 股。悍高集团的保荐机构(主承销商)是国泰海通证券股份有限公司，保荐代表人是强强、曾晨。 悍高集团本次发行募集资金总额61,735.43万元，扣除发行费用后的募集资金净额为51,062.26万元，公司 募集资金净额比原计划多9062.26万元。悍高集团2025年7月25日披露的招股书显示，公司拟募集资金 42,000.00万元，用于悍高智慧家居五金自动化制造基地、悍高集团研发中心建设项目公司、悍高集团信 息化建设项目。 ...

Group 1 - The core viewpoint of the article highlights the successful IPO of Hanhigh Group, a leading company in the home hardware industry, on the Shenzhen Stock Exchange, raising a total of 617 million yuan with an oversubscription rate of 46.99% [1] - Hanhigh Group, founded in 2004, has evolved into a diversified innovative enterprise focusing on home hardware, offering a comprehensive high-end hardware solution for global users, and has won over 30 international design awards [3] - The company has achieved a compound annual growth rate (CAGR) of 32.78% in revenue and 61.83% in net profit from 2022 to 2024, indicating rapid growth in performance [3] Group 2 - Hanhigh Group is the first company to be listed on the main board of the Shenzhen Stock Exchange after the merger of Guotai Junan, showcasing the firm's capability in supporting the listing process [6] - Guotai Junan has successfully assisted multiple private enterprises in entering the capital market this year, demonstrating its commitment to supporting the high-quality development of the private economy [8] - The financial support provided by Guotai Junan to Hanhigh Group is part of a broader strategy to empower private enterprises and enhance their growth potential [8]

Market Overview - The Shanghai Composite Index rose by 0.17% to close at 3615.72 points, with a daily high of 3636.17 points [1] - The Shenzhen Component Index fell by 0.77% to close at 11203.03 points, reaching a high of 11307.62 points [1] - The ChiNext Index decreased by 1.62%, closing at 2367.68 points, with a peak of 2395.89 points [1] Margin Trading and Securities Lending - The total margin trading and securities lending balance in the Shanghai and Shenzhen markets was 19784.07 billion yuan, with a financing balance of 19642.55 billion yuan and a securities lending balance of 141.52 billion yuan [2] - The margin trading balance increased by 21.0 billion yuan compared to the previous trading day [2] - The Shanghai market's margin trading balance was 10111.96 billion yuan, up by 3.91 billion yuan, while the Shenzhen market's balance was 9672.1 billion yuan, increasing by 17.08 billion yuan [2] Fund Issuance - Five new funds were launched yesterday, including: - Changxin CSI 300 Index Quantitative Enhancement C - Southern CSI General Aviation Theme ETF - Changxin CSI 300 Index Quantitative Enhancement A - Ping An CSI All-Index Free Cash Flow ETF Link A - Ping An CSI All-Index Free Cash Flow ETF Link C [4] Top Margin Buying Stocks - The top three stocks by margin buying amount were: - Xinyi Sheng (300502.SZ) with 18.92 billion yuan - Northern Rare Earth (600111.SH) with 17.93 billion yuan - Dongfang Fortune (300059.SZ) with 16.97 billion yuan [3] Top Net Buying Stocks on the Dragon and Tiger List - The top ten net buying stocks on the Dragon and Tiger list included: - Yingweike (002837.SZ) with a net buying amount of 573.86 million yuan - Baogang Co. (600010.SH) with 373.76 million yuan - Tibet Tianlu (600326.SH) with 217.90 million yuan [6]

智能制造是悍高集团提升竞争力的关键。公司正构建由星际总部、六角大楼、独角兽三大生产基地组成 的数字化生产基地群，总规模达60万平方米。其中，星际总部作为研发与创新中枢，集成产品研发中 心、全球销售中心等功能区；六角大楼聚焦高度自动化生产，其铰链导轨工厂按"黑灯工厂"标准建设， 实现24小时全自动化作业；独角兽超级工厂建筑面积超25万平方米，预计2027年竣工。通过智造升级， 悍高集团生产效率显著提升，单位成本降低，推动毛利率从2022年的31.67%提升至2024年的35.84%。 此次募资中，3.7亿元将用于自动化制造基地建设，进一步推动传统制造向智能制造转型。 研发设计与信息化升级是悍高集团的另一核心支撑。近三年，公司研发投入累计达2.69亿元，截至2025 年3月4日，已拥有境内外专利1173项，形成多轨迹拉篮转动技术、PVD纳米封油技术等核心壁垒。同 时，公司重视原创设计，累计斩获17项德国iF设计奖、13项红点设计奖及中国设计红星奖等国内外奖 项，其中2025年汉诺威工业设计论坛上更获5项iF设计奖，印证其在工业设计领域的领先地位。此外， 悍高集团通过ERP、PLM等数字化系统实现研发、生产、营销全 ...