Core Points - The Shanghai Composite Index closed at 3867.04 points, above the annual line, with an increase of 1.10% [1] - The total trading volume of A-shares reached 1.367165 trillion yuan [1] - A total of 74 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates include Hanxin Technology (10.28%), Jiaying Pharmaceutical (8.17%), and Runpu Food (6.44%) [1] - Other stocks that just crossed the annual line include ST Qibu, Yinghuatech, and Jiangxi Changyun, which have lower deviation rates [1] Trading Data - The trading performance of selected stocks shows significant daily changes, with Hanxin Technology leading with a daily increase of 13.96% and a turnover rate of 26.99% [1] - Jiaying Pharmaceutical and Runpu Food also showed strong daily increases of 9.96% and 9.35%, respectively [1] Additional Stock Information - Other notable stocks with positive performance include Yongji Co. (7.50%), Kaiwang Technology (13.86%), and Chuanhuan Technology (7.57%) [1] - The table lists various stocks with their respective trading data, including daily change percentages, turnover rates, annual line prices, latest prices, and deviation rates [1][2]

证券代码：300378 证券简称：鼎捷数智 公告编号：2025-12160 鼎捷数智股份有限公司 向不特定对象发行可转换公司债券中签号码公告 保荐人（主承销商）：兴业证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和 完整，没有虚假记载、误导性陈述或重大遗漏。 特别提示 本次向不特定对象发行可转换公司债券在发行流程、申购、缴款和投资者 弃购处理等环节的重点提示如下： 1、网上投资者申购可转债中签后，应根据《鼎捷数智股份有限公司向不 特定对象发行可转换公司债券中签号码公告》履行缴款义务，确保其资金账户 在 2025 年 12 月 17 日（T+2 日）日终有足额的认购资金，投资者款项划付需遵 守投资者所在证券公司的相关规定。投资者认购资金不足的，不足部分视为放 弃认购，由此产生的后果及相关法律责任，由投资者自行承担。根据中国结算 深圳分公司的相关规定，放弃认购的最小单位为 1 张。网上投资者放弃认购的 部分由保荐人（主承销商）包销。 2、当原股东优先认购的可转债数量和网上投资者申购的可转债数量合计 不足本次发行数量的 70%时，或当原股东优先认购的可转债数量和网上投资者 缴款认购的可转债数量 ...

鼎捷数智股份有限公司（以下简称"公司"或"发行人"）和兴业证券股 份有限公司（以下简称"保荐人（主承销商）"）根据《中华人民共和国证券 法》《证券发行与承销管理办法》（证监会令〔第 228 号〕）、《上市公司证 券发行注册管理办法》（证监会令〔第 227 号〕）、《深圳证券交易所上市公 司证券发行与承销业务实施细则（2025 年修订）》（深证上〔2025〕268 号）、《深圳证券交易所上市公司自律监管指引第 15 号——可转换公司债券 （2025 年修订）》（深证上〔2025〕223 号）和《深圳证券交易所创业板上市 公司自律监管指南第 1 号——业务办理（2025 年修订）》（深证上〔2025〕 398 号）等相关规定向不特定对象发行可转换公司债券（以下简称"可转换公 司债券"、"可转债"或"鼎捷转债"）。 本次向不特定对象发行的可转换公司债券将向发行人在股权登记日（2025 年 12 月 12 日，T-1 日）收市后中国证券登记结算有限责任公司深圳分公司 （以下简称"中国结算深圳分公司"）登记在册的原股东优先配售，原股东优 先配售后余额部分（含原股东放弃优先配售部分）通过深圳证券交易所（以下 简称"深交所 ...

Group 1 - The core point of the article is that Dingjie Zhizhi (300378) has approximately 54,000 shareholders as of December 10 [1]

1. Report Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core Viewpoints of the Report - Last week (December 8 - December 12), the A - share market was volatile. Two important meetings boosted market risk appetite, and trading volume increased. AI hardware and commercial aerospace led the gains, while coal and petroleum and petrochemical sectors lagged. The bond market slightly recovered, with the 10 - year Treasury bond yield at 1.84% on Friday, down 0.84bp from the previous week. The convertible bond market had most individual bonds closing lower, with the CSI Convertible Bond Index up 0.20% for the week, the median price up 0.10%, and the calculated arithmetic average parity down 0.35%. The overall conversion premium rate increased by 2.20% compared to the previous week [1][6][7]. - Some issuers showed a strong willingness to convert. The convertible bond market followed the stock market's volatility last week. Despite the significant adjustment of the micro - cap stock index, the CSI Convertible Bond Index closed slightly higher, showing strong resilience and improved trading volume. Several issuers of near - maturing convertible bonds proposed downward revisions, and the pricing after the proposed downward revisions varied based on the remaining term and industry fundamentals [2][15]. - Looking ahead, with the end - of - year important meetings and the Fed's rate cut settled, the market will enter a policy vacuum period. Relative return investors are advised to make small - position balanced allocations of non - redeemable and appropriately - priced equity - biased convertible bonds in sectors such as power, storage, semiconductor equipment and materials for domestic substitution, commercial aerospace, and humanoid robots. Absolute return investors should focus on high - volatility stocks under 130 yuan or industry leaders with historically low valuations in sectors like two - wheeled vehicles, cosmetics, and breeding [2][15]. 3. Summaries by Related Catalogs Market Focus (December 8 - December 12) Stock Market - A - shares were volatile. The trading volume exceeded 2 trillion on Monday and Friday. The Shanghai Composite Index rose 0.54% on Monday, fell 0.37% on Tuesday, fell 0.23% on Wednesday, fell 0.7% on Thursday, and rose 0.41% on Friday. The Shenzhen Component Index rose 1.39% on Monday, fell 0.39% on Tuesday, rose 0.29% on Wednesday, fell 1.27% on Thursday, and rose 0.84% on Friday. The ChiNext Index rose 2.6% on Monday, rose 0.61% on Tuesday, fell 0.02% on Wednesday, fell 1.41% on Thursday, and rose 0.97% on Friday [1][6]. - Most Shenwan primary industries closed lower. Communication (6.27%), national defense and military industry (2.80%), electronics (2.63%), machinery and equipment (1.38%), and power equipment (1.19%) led the gains, while coal (-3.64%), petroleum and petrochemical (-3.52%), steel (-2.89%), and real estate (-2.62%) lagged [7]. Bond Market - After the Politburo meeting and the Central Economic Work Conference, the moderately loose monetary policy remained unchanged, and inflation data showed a continued price improvement trend. The bond market slightly recovered, with the 10 - year Treasury bond yield at 1.84% on Friday, down 0.84bp from the previous week [1][7]. Convertible Bond Market - Most individual convertible bonds closed lower. The CSI Convertible Bond Index rose 0.20% for the week, the median price rose 0.10%, and the arithmetic average parity fell 0.35%. The overall conversion premium rate increased by 2.20%. The arithmetic average conversion premium rates of convertible bonds with parities in [90,100), [100,110), and [110,120) changed by +2.09%, -1.73%, and +0.20%, respectively, and were at the 94%, 96%, and 89% quantiles since 2023 [1][7]. - Most convertible bond industries closed lower. Building materials (+6.14%), national defense and military industry (+4.27%), power equipment (+1.25%), and beauty care (+0.94%) led the gains, while social services (-2.32%), coal (-2.12%), commercial and retail (-1.52%), and basic chemicals (-1.31%) lagged [8]. - The top - rising individual convertible bonds were Zai 22 (commercial aerospace), Huamao (computing power), Weidao (semiconductor equipment), Jize (green alcohol), and Hangyu (commercial aerospace). The top - falling individual convertible bonds were Yingbo (low - altitude economy & announced strong redemption), Hongtu (satellite application), Huarui (CNC cutting tools), Sanfang (polyester chips), and Yake (automobile aluminum) [1][10]. - The total trading volume of the convertible bond market last week was 285.692 billion yuan, with an average daily trading volume of 57.138 billion yuan, an increase from the previous week [13]. Valuation - As of December 12, 2025, for equity - biased convertible bonds, the average conversion premium rates for parities in the ranges of 80 - 90 yuan, 90 - 100 yuan, 100 - 110 yuan, 110 - 120 yuan, 120 - 130 yuan, and above 130 yuan were 45.18%, 34.97%, 27.88%, 20.1%, 10.88%, and 13.62%, respectively, at the 94%/90%, 94%/95%, 94%/95%, 91%/90%, 70%/53%, and 97%/98% quantiles since 2010/2021. - For debt - biased convertible bonds, the average YTM for parities below 70 yuan was -3.48%, at the 2%/6% quantiles since 2010/2021. - The average implied volatility of all convertible bonds was 43.46%, at the 88%/91% quantiles since 2010/2021. The difference between the convertible bond's implied volatility and the stock's long - term actual volatility was 2.31%, at the 84%/85% quantiles since 2010/2021 [16]. Primary Market Tracking New Issuance and Listing - Last week (December 8 - December 12), Aohong, Shenyu, Tianzhun, and Dingjie convertible bonds announced issuance, while Maolai and Ruike convertible bonds were listed. - Aohong Convertible Bond (111024.SH): The underlying stock is Aohong Electronics (605058.SH), in the electronics industry. The issuance scale is 580 million yuan, with a credit rating of AA -. The funds will be used for the construction of a production base in Thailand [23]. - Shenyu Convertible Bond (123262.SZ): The underlying stock is Shenyu Co., Ltd. (300563.SZ), in the communication industry. The issuance scale is 500 million yuan, with a credit rating of AA -. The funds will be used for the construction of data lines in the intelligent field [24]. - Tianzhun Convertible Bond (118062.SH): The underlying stock is Tianzhun Technology (688003.SH), in the machinery and equipment industry. The issuance scale is 872 million yuan, with a credit rating of AA -. The funds will be used for R & D and industrialization projects in industrial vision equipment, semiconductor metrology equipment, and intelligent driving and embodied intelligent controllers [25][26]. - Dingjie Convertible Bond (123263.SZ): The underlying stock is Dingjie Digital Intelligence (300378.SZ), in the computer industry. The issuance scale is 828 million yuan, with a credit rating of AA. The funds will be used for the Dingjie Digital Intelligence Ecological Empowerment Platform project and to supplement working capital [27]. - Maolai Convertible Bond (118061.SH): The underlying stock is Maolai Optics (688502.SH), in the electronics industry. The issuance scale is 563 million yuan, with a credit rating of A+. The funds will be used for ultra - precision optical production and processing projects, ultra - precision optical technology R & D centers, and to supplement working capital [28]. - Ruike Convertible Bond (118060.SH): The underlying stock is Ruike Da (688800.SH), in the electronics industry. The issuance scale is 1 billion yuan, with a credit rating of AA -. The funds will be used for the renovation and upgrade of high - frequency and high - speed connection systems, intelligent energy connection systems, and to supplement working capital [29]. Future Issuance and Listing - As of December 12, there were no announcements of convertible bond issuances or listings for the next week (December 15 - December 19). - Last week, one company (Shuangle Co., Ltd.) was approved for registration, two companies (Tonglian Precision and Xianghe Industry) passed the listing committee review, three companies (Suzhou Tianmai, Baoti Co., Ltd., and Zhongqi Co., Ltd.) were accepted by the exchange, and two companies (Hubei Yihua and Zhaomin Technology) passed the shareholders' meeting. There were no new board - proposed enterprises. - As of now, there are 92 convertible bonds waiting to be issued, with a total scale of 146.43 billion yuan, including 3 approved for registration with a total scale of 2.5 billion yuan and 9 that have passed the listing committee review with a total scale of 9.99 billion yuan [30].

保荐人（主承销商）：兴业证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和 证券代码：300378 证券简称：鼎捷数智 公告编号：2025-12158 鼎捷数智股份有限公司 向不特定对象发行可转换公司债券发行提示性公告 完整，没有虚假记载、误导性陈述或重大遗漏。 1 定。 本次向不特定对象发行可转换公司债券在发行流程、申购和缴款、投资者 弃购处理等环节的重点提示如下： 1、本次可转债发行原股东优先配售日与网上申购日同为 2025 年 12 月 15 日（T 日），网上申购时间为 T 日 9:15-11:30，13:00-15:00。原股东参与优 先配售的部分，应当在 2025 年 12 月 15 日（T 日）优先配售申购时在其优先配 售额度之内根据其优先配售认购的可转债数量足额缴付资金。原股东及社会公 众投资者参与优先配售后余额部分的网上申购时无需缴付申购资金。 2、投资者应结合行业监管要求及相应的资产规模或资金规模，合理确定 申购金额，不得超资产规模或资金规模申购。保荐人（主承销商）发现投资者 不遵守行业监管要求，超过相应资产规模或资金规模申购的，保荐人（主承销 商）有权认定该投资者的申 ...

Group 1 - Dingjie Smart (SZ 300378) announced that it will hold an online roadshow for its A-share convertible bond issuance on December 12, 2025, from 15:30 to 16:30, with participation from the company's chairman and president, Ye Zizhen, among others [1] - For the first half of 2025, Dingjie Smart's revenue composition is entirely from the manufacturing sector, accounting for 100.0% [1] - As of the report date, Dingjie Smart has a market capitalization of 11.4 billion yuan [1]

Funding and Investment Projects - The company plans to invest ¥68,766.42 million in the "Dingjie Intelligent Ecosystem Empowerment Platform Project," which includes the establishment of a research and training base and platform project development [2] - An additional ¥14,000 million will be allocated to supplement working capital to support daily operations and business development [2] Relationship with Existing Business - The platform project development is an upgrade based on the company's existing platform research, enhancing product functionality and application areas [3] - The training base will serve as a research facility and a center for client training and demonstrations, aiding in customer maintenance and expansion [3] Industry Development and Policy Support - The industrial sector is experiencing strong policy support for AI applications, as highlighted by the Ministry of Industry and Information Technology's initiative to implement "Artificial Intelligence + Manufacturing" actions [3] - This initiative aims to enhance industrial production efficiency, optimize processes, and promote the integration of industrial software with AI [3] Management Efficiency Measures - The company is enhancing internal management by leveraging AI technology to optimize operations, research, delivery, and marketing processes, thereby improving overall operational efficiency [3] Future Development Strategy - The company will adhere to the "Intelligent +" strategy, focusing on innovating productivity through data and intelligent technology [3] - Plans include transitioning to a platform ecosystem model, further developing the Dingjie Athena platform and new applications to provide high-value tools and environments for ISV partners and clients [3]

Core Viewpoint - Dingjie Zhizhi, a leading domestic industrial software company, is accelerating its expansion with a new convertible bond issuance approved by the China Securities Regulatory Commission, aiming to raise 8.28 billion yuan for strategic projects [1][2]. Group 1: Financial Performance - For the first three quarters of 2025, Dingjie Zhizhi reported revenue of 1.614 billion yuan, a year-on-year increase of 2.63%, and a net profit attributable to shareholders of 51.09 million yuan, up 2.40% [1][4]. - The company's total assets grew by 15.68% year-on-year to 3.556 billion yuan in the first three quarters of 2025, providing solid capital support for its digital ecosystem layout [1][5]. - From 2020 to 2024, the company's revenue increased from 1.496 billion yuan to 2.331 billion yuan, a total growth of 55.82%, while net profit rose from 121 million yuan to 156 million yuan, a growth of 28.93% [4]. Group 2: Convertible Bond Issuance - The approved convertible bond issuance totals 8.28 billion yuan, with 6.88 billion yuan allocated to the "Dingjie Digital Ecosystem Empowerment Platform Project," representing 83.09% of the total funds raised [2][3]. - The project is expected to generate an average annual revenue of 701 million yuan and a net profit of 195 million yuan during its operational phase, with an internal rate of return of 12.57% and a payback period of 8.64 years [2]. Group 3: Strategic Development - The establishment of the digital ecosystem empowerment platform is aimed at enhancing the company's core competitiveness and transitioning from a "software supplier" to an "ecosystem enabler" [3]. - The company is focusing on a comprehensive layout of "technology + products + services + ecosystem" to solidify its leading position in the industry [3]. Group 4: AI Business Growth - Dingjie Zhizhi has launched AI applications such as design generation and formula creation, with AI business revenue growing by 125.91% year-on-year in the first half of 2025, indicating accelerated growth potential [5]. - The company's total assets have steadily increased, reaching 3.556 billion yuan in the first three quarters of 2025, supporting its ongoing development [5]. Group 5: Market Performance - As of December 11, 2025, Dingjie Zhizhi's stock price closed at 41.85 yuan per share, with a total market capitalization of 11.36 billion yuan, reflecting a year-to-date stock price increase of nearly 62% [1][5].

Core Viewpoint - Dingjie Intelligent Co., Ltd. plans to issue convertible bonds to raise up to 828 million yuan for investment in its digital empowerment platform and to supplement working capital [2] Group 1: Fundraising and Investment - The total amount to be raised through the issuance of convertible bonds is not more than 828 million yuan [2] - The net proceeds from the fundraising will be allocated to the Dingjie Intelligent Ecological Empowerment Platform project and to supplement working capital, with total project investment amounting to 1.151 billion yuan [2] - The planned investment from the raised funds is 688 million yuan for the platform project and 140 million yuan for working capital [2] Group 2: Company Overview and Financial Performance - Dingjie Intelligent is a data and intelligent solution provider, focusing on innovation in productivity through data and intelligent technology [2] - The company offers comprehensive digital solutions across four major industrial software categories: R&D design, digital management, production control, and AIoT [2] - For the first three quarters of 2025, Dingjie Intelligent reported revenue of 1.614 billion yuan, a year-on-year increase of 2.63%, and a net profit attributable to shareholders of 51.088 million yuan, up 2.40% year-on-year [2]