Group 1: Company Performance - Wanchen Group reported a net profit of 855 million yuan for the first three quarters, a year-on-year increase of 917.04% [4] - China Telecom achieved a revenue of 394.27 billion yuan in the first three quarters, a year-on-year growth of 0.59%, with a net profit of 30.77 billion yuan, up 5.03% [4] - Yingboer reported a revenue of 9.89 billion yuan in the third quarter, a year-on-year increase of 69.4%, with a net profit of 1.12 billion yuan, up 580.62% [4] Group 2: Major Transactions - Zhuhai Mian Group plans to transfer 100% equity of Zhuhai Gree Real Estate Co., Ltd. to Zhuhai Toujie Holdings, which is expected to constitute a major asset restructuring [5] - Yingxin Development signed an agreement to acquire 81.8091% equity of Guangdong Changxing Semiconductor Technology Co., Ltd., which will result in controlling interest [6] - Xiechuang Data announced a server procurement plan totaling up to 4 billion yuan, which is expected to significantly enhance its cloud computing services [7] Group 3: Industry Insights - The internet industry is shifting from competition in large model technologies to the penetration of application scenarios, with a focus on basic cloud infrastructure service providers and advertising sectors [8] - The textile and apparel manufacturing sector is seeing increased attention on "small but beautiful" companies, which are experiencing operational changes and potential valuation re-evaluations due to market normalization and efficiency improvements [8]

Group 1: Dana Biological - Dana Biological, established on March 10, 2014, focuses on early diagnosis of invasive fungal diseases and other pathogen microbiological in vitro diagnostic products [2] - The company is recognized as a national high-tech enterprise and a key specialized "little giant" enterprise supported by the state [2] - The initial public offering (IPO) price is set at 17.10 CNY per share, with a projected earnings per share (EPS) of 11.75, significantly lower than the industry average of 31.59 [3] - In 2022, Dana Biological held approximately 30% market share in China's invasive fungal disease diagnostic reagent market [4] - The company’s main products include reagents for invasive fungal disease diagnosis, with reagent products accounting for 90.52% of its main business revenue in 2024 [4] - Dana Biological has sufficient inventory of horseshoe crab blood cells to meet production needs for over five years and is actively exploring overseas procurement channels [5] Group 2: Marco Polo - Marco Polo specializes in the research, production, and sales of building ceramics, being one of the largest manufacturers in China [6] - The IPO price is set at 13.75 CNY per share, with a market capitalization of 164.30 billion CNY [7] - The company’s revenue from 2022 to 2024 is projected to be 86.61 billion CNY, 89.25 billion CNY, and 73.24 billion CNY respectively, maintaining its position as the top player in the building ceramics industry [6][10] - Marco Polo's main business includes glazed and unglazed tiles, with glazed tile revenue increasing from 82.95 billion CNY in 2022 to 71.50 billion CNY in 2024, while unglazed tile revenue is decreasing [10] - The company has a dual sales model of "distribution + direct sales," with significant clients including major real estate companies [9][10] - Marco Polo's revenue is closely tied to the real estate market, which has shown volatility, impacting its performance [11]

Group 1: Company Overview - Danah Biotechnology, established on March 10, 2014, focuses on early diagnosis of invasive fungal diseases and other pathogenic microorganisms, recognized as a national high-tech enterprise and a key specialized "little giant" enterprise supported by the state [2] - The main products include diagnostic reagents and instruments, with reagents accounting for 90.52% of revenue in 2024, while instruments contribute 6.06% [2] - Danah holds a market share of approximately 30% in China's invasive fungal disease diagnostic reagent market as of 2022 [2] Group 2: Product and Supply Chain - The core raw material for Danah's main product, the (1-3)-β-D-glucan test kit, is horseshoe crab blood, which accounted for 21.34% to 32.57% of revenue from 2022 to June 2025 [3] - Horseshoe crabs are classified as a national second-level protected animal, leading to stricter regulations on their utilization, creating uncertainty regarding future supply [3] - Danah has sufficient inventory of horseshoe crab blood to meet production needs for over five years and has begun exploring overseas procurement channels [3] Group 3: Market Position and Financial Performance - Marco Polo, a leading manufacturer and seller of building ceramics, has production bases in multiple locations, with revenues of 8.661 billion, 8.925 billion, and 7.324 billion from 2022 to 2024 [4] - The company ranks first in the domestic building ceramics industry in terms of revenue from 2022 to 2024, indicating strong market presence [4] - Marco Polo's sales model includes both distribution and direct sales, with a significant portion of revenue coming from glazed tiles, which have seen an increasing trend in sales [4][6] Group 4: Revenue Trends and Risks - Marco Polo's main business revenue is projected to decline by 17.95% in 2024 compared to 2023, attributed to changing consumer preferences towards glazed tiles [6] - The company faces potential risks related to fluctuations in the real estate market, which is closely tied to its industry, as indicated by a declining real estate development prosperity index from 2022 to 2024 [6] - Marco Polo also highlights risks associated with raw material and energy price volatility, which could significantly impact profitability if costs cannot be passed on to customers [7]

Company Overview - Marco Polo is a leading company in the domestic building ceramics industry, primarily engaged in the research, production, and sales of building ceramics [1][2] - The company has two major brands: "Marco Polo Tiles" and "Vimel L&D Ceramics," with the "Marco Polo" trademark recognized as a famous Chinese trademark [1][2] - Marco Polo has maintained the highest revenue in the domestic building ceramics industry for three consecutive years, confirming its leading position [1][2] Industry Context - The ceramics industry is experiencing a decline due to the real estate cycle, with national ceramic tile production expected to decrease from 67.30 billion square meters in 2023 to 59.1 billion square meters in 2024, a drop of 12.18% [2] - Despite the shrinking new housing market, there is a structural shift in the building ceramics industry, with increasing demand for home renovations and cross-industry applications [2] - The market share is increasingly concentrating among leading enterprises due to advantages in scale, technology, and brand recognition [2] Financial Performance - For the fiscal year 2024, Marco Polo is projected to achieve revenue of 7.324 billion yuan, a decrease of 17.93% year-on-year, and a net profit of 1.327 billion yuan, down 1.92% year-on-year [3] - The company anticipates a revenue range of 4.850 billion to 5.100 billion yuan for the first nine months of 2025, representing a year-on-year decrease of 7.25% to 11.79% [3] - The net profit for the same period is expected to be between 1 billion and 1.050 billion yuan, reflecting a year-on-year decline of 7.66% to 12.06% [3] IPO and Market Expectations - Marco Polo's IPO involves issuing 11.949 million shares, raising 1.643 billion yuan, with funds allocated to five projects aimed at enhancing production capabilities [3][4] - The company's dynamic price-to-earnings ratio is 12.93, significantly lower than the average of comparable companies at 25.8, indicating a valuation advantage [5] - The IPO price is set at 13.75 yuan per share, which is considered relatively low within the main board context, where new stocks have averaged a 300% increase on their first trading day [5] Market Performance Predictions - Based on recent trends, Marco Polo's first-day performance could see an increase in the range of 220.7% to 234.4%, aligning with the average performance of newly listed stocks [4][5] - Despite the positive brand recognition and valuation advantages, the high fundraising amount and the impact of the real estate cycle may limit the stock's performance on its debut [5]

证券代码：001386 证券简称：马可波罗 公告编号：2025-001 马可波罗控股股份有限公司 上市首日风险提示公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 经深圳证券交易所《关于马可波罗控股股份有限公司人民币普通股股票上市 的通知》（深证上〔2025〕1099 号）同意，马可波罗控股股份有限公司（以下 简称"公司"或"本公司""马可波罗"）首次公开发行的人民币普通股股票在 深圳证券交易所上市，证券简称为"马可波罗"，证券代码为"001386"。本次 公开发行的 11,949.20 万股人民币普通股股票全部为新股发行，不涉及股东公开 发售股份的情形。本公司首次公开发行股票中的 97,861,204 股人民币普通股股票 自 2025 年 10 月 22 日起可在深圳证券交易所上市交易，其余股票的可上市交易 时间按照有关法律法规规章、深圳证券交易所业务规则及公司相关股东的承诺执 行。 根据该审计报告，公司报告期内主要财务数据如下： | 单位：万元 | 年 | 年 | 年 | 2024 | 2023 | 2022 | | | | | | | | --- | ...

保荐人（主承销商） （深圳市福田区福田街道福华一路 111 号） 二〇二五年十月 股票简称：马可波罗 股票代码：001386 马可波罗控股股份有限公司 MarcoPolo Holdings Co., Ltd. （住所：广东省东莞市高埗镇北王路高埗段 102 号） 首次公开发行股票并在主板上市 之 上市公告书 特别提示 马可波罗控股股份有限公司（以下简称"马可波罗""公司""本公司" 或"发行人"）股票将于 2025 年 10 月 22 日在深圳证券交易所主板上市。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在 新股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 马可波罗控股股份有限公司 上市公告书 本上市公告书"报告期"指：2022 年度、2023 年度和 2024 年度。 1 如无特别说明，本上市公告书中的简称或名词的释义与本公司首次公开发 行股票并在主板上市招股说明书中的相同。如本上市公告书中合计数与各加数 直接相加之和在尾数上存在差异，系四舍五入所致。 | 六、发行方式及认购情况 33 | | --- | | （十一）未履行相关承诺事项的约束措施的承诺 67 | | --- ...

马可波罗控股股份有限公司 首次公开发行股票并在主板上市之 上市公告书提示性公告 保荐人（主承销商）：招商证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 经深圳证券交易所审核同意，马可波罗控股股份有限公司（以下简称"马可 波罗"、"发行人"或"公司"）发行的人民币普通股股票将于2025年10月22日在深 圳证券交易所主板上市，上市公告书全文和首次公开发行股票的招股说明书全文 披露于巨潮资讯网（www.cninfo.com.cn）、中证网（www.cs.com.cn）、中国证券 网（www.cnstock.com）、证券时报网（www.stcn.com）、证券日报网（www.zqrb. cn）、经济参考网（www.jjckb.cn）、中国金融新闻网（www.financialnews.com.cn） 、中国日报网（www.chinadaily.com.cn），供投资者查阅。 所属网页二维码：巨潮资讯网 一、上市概况 二、风险提示 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在 新股上市初期应当充分了解风险，审慎决策、理性投资。具 ...

国浩律师（北京）事务所 关于马可波罗控股股份有限公司 首次公开发行股票并在主板上市 之 法律意见书 北京 ·上海 ·深圳 ·杭州 ·广州 ·昆明 ·天津 ·成都 ·宁波 ·福州 ·西安 ·南京 ·南宁 ·济南 ·重庆 ·苏州 ·长沙 ·太原 ·武汉 ·贵阳 · 乌鲁木齐 ·郑州 ·石家庄 ·合肥 ·海南 ·青岛 ·南昌 ·大连 ·银川·拉孜·香港 ·巴黎 ·马德里 ·斯德哥尔摩 ·纽约 北京市朝阳区东三环北路 38 号泰康金融大厦 9 层 邮编：100026 9/F, Taikang Financial Tower, 38 North Road East Third Ring, Dongsanhuan Road, Beijing 100026, China 电话/Tel: (+86)(10) 6589 0699 传真/Fax: (+86)(10) 6517 6800 网址/Website: www.grandall.com.cn 国浩律师（北京）事务所 法律意见书 国浩律师（北京）事务所 关于马可波罗控股股份有限公司 首次公开发行股票并在主板上市之 法律意见书 国浩京证字 2025 第 0560 号 致：马可 ...

招商证券股份有限公司 关于马可波罗控股股份有限公司 首次公开发行股票并在主板上市 之 上 市 保 荐 书 保荐机构（主承销商） （深圳市福田区福田街道福华一路 111 号） 马可波罗控股股份有限公司首次公开发行股票并在主板上市申请文件 上市保荐书 声 明 本保荐机构及相关保荐代表人已根据《中华人民共和国公司法》（下称"《公 司法》"）、《中华人民共和国证券法》（下称"《证券法》"）、《首次公开 发行股票注册管理办法》（下称"《首发办法》"）、《证券发行上市保荐业务 管理办法》（下称"《保荐管理办法》"）、《深圳证券交易所股票上市规则》 （下称"《上市规则》"）等有关法律、行政法规和中国证券监督管理委员会（下 称"中国证监会"）、深圳证券交易所（下称"深交所"）的有关规定，诚实守 信，勤勉尽责，严格按照依法制定的业务规则和行业自律规范出具上市保荐书， 并保证所出具文件真实、准确、完整。 在本上市保荐书中，除非另有说明，所用简称与《马可波罗控股股份有限公 司首次公开发行股票并在主板上市招股说明书》保持一致。 3-1-3-1 马可波罗控股股份有限公司首次公开发行股票并在主板上市申请文件 上市保荐书 一、公司基本情况 ...