格隆汇1月18日丨拓斯达(300607.SZ)发布公告，公司于2026年1月16日向香港联合交易所有限公司(以下 简称"香港联交所")递交了发行H股股票并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网 站刊登了本次发行上市的申请材料。该申请材料为公司按照香港证券及期货事务监察委员会(以下简 称"香港证监会")及香港联交所的要求编制和刊发，为草拟版本，其所载资料可能会适时作出更新及修 订，投资者不应根据其中的资料作出任何投资决定。 ...

证券代码：300607 证券简称：拓斯达 公告编号：2026-005 广东拓斯达科技股份有限公司 关于向香港联交所递交 H 股发行上市申请 并刊发申请资料的公告 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。 广东拓斯达科技股份有限公司（以下简称"公司"）于 2026 年 1 月 16 日向香港联合交易所有限公司（以下简称"香港联交所"） 递交了发行 H 股股票并在香港联交所主板挂牌上市（以下简称"本 次发行上市"）的申请，并于同日在香港联交所网站刊登了本次发 行上市的申请材料。该申请材料为公司按照香港证券及期货事务监 察委员会（以下简称"香港证监会"）及香港联交所的要求编制和 刊发，为草拟版本，其所载资料可能会适时作出更新及修订，投资 者不应根据其中的资料作出任何投资决定。 本次发行上市如果最终实施，发行对象将仅限于符合相关条件 的境外投资者及依据中国相关法律法规有权进行境外证券投资的境 内合格投资者，公司将不会在境内证券交易所的网站和符合监管机 构规定条件的媒体上刊登该申请资料，但为使境内投资者及时了解 该等申请资料披露的本次发行上市以及公司的其他相关信息 ...

拓斯达公告，公司于2026年1月16日向香港联合交易所有限公司递交了发行H股股票并在香港联交所主 板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的申请材料。本次发行上市如果最 终实施，发行对象将仅限于符合相关条件的境外投资者及依据中国相关法律法规有权进行境外证券投资 的境内合格投资者。 ...

Core Viewpoint - Guangdong Tosstar Technology Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange after over eight years since its A-share market debut, aiming to become a global leader in embodied intelligence technology [1] Group 1: Company Overview - Founded in 2007, Tosstar focuses on embodied intelligence, industrial robots, CNC machine tools, and injection molding machines, leveraging core technologies in control, servo, and vision [1] - The company recently launched a quadruped robot dog named "Xingzai," expanding its product offerings in the field of embodied intelligence [1] Group 2: Financial Performance - Tosstar's revenue for 2023 and 2024 is projected to be 4.553 billion and 2.872 billion RMB, respectively, indicating a 36.9% decline in 2024 compared to 2023 [2] - For the first nine months of 2025, the company reported revenue of 1.688 billion RMB, a 24.5% decrease from 2.235 billion RMB in the same period the previous year [3] - The company's profit for 2023 was 106 million RMB, but it is expected to incur a loss of 239 million RMB in 2024 [4] Group 3: Business Challenges - The revenue contribution from the smart energy and environmental management system business line dropped from 59.0% in 2023 to 30.5% in the first nine months of 2025, leading to gross losses and negative gross margins [3] - The company faces risks related to outdated inventory, with inventory values reported at 699 million RMB, 630 million RMB, and 878 million RMB for the years ending December 31, 2023, 2024, and September 30, 2025, respectively [5] Group 4: Regulatory Issues - Prior to the IPO, Tosstar and its executives received warning letters due to inaccurate revenue accounting and other violations [7] - The company prematurely recognized revenue of 7.97 million RMB in 2023, leading to a misstatement of profits [8] Group 5: Shareholder Activity - Two major shareholders recently liquidated nearly 300 million RMB in shares, with one shareholder selling approximately 4.35 million shares for about 131 million RMB [9] - Another shareholder sold around 5.64 million shares for approximately 164 million RMB [10]

(於中華人民共和國註冊成立的股份有限公司) [編纂] 「編纂]項下[編纂]數目 : [編纂]股H股(視乎[編纂]行 使與否而定) 据港交所文件，1月16目，广东拓斯达科技股份有限公司向港交所递交上市申请，华泰国际为独家保荐 人。 TOPSTP ł6則方 Guangdong Topstar Technology Co., Ltd. 廣東拓斯達科技股份有限公司 [編纂] ： [編纂] [编纂]及[编纂] 「編纂]數目 : [編纂]股H股(可予[編纂]) 「編纂]數目 : ［编纂］股H股(可 予[編纂]及視 乎[编纂] 行使與否而定) 最高 [ 編 纂] : 每 股 [ 編 纂] 編 纂] 港 元,另 加 1% 經 紀 佣 金、0.0027% 證 監 會 交 易 徵 費 、 0.00565% 聯 交 所交 易 費 及 0.00015% 會財局交易徵費(須於申請時以港 元 悉數 繳 足,多 繳 款 項 可 予 退 還) 面值 : 每股H股人民幣[1.00]元 獨家保薦人、[編纂]、[編纂]·[編纂]· ...

Core Viewpoint - ST Huilun has been heavily fined for concealing related party fund occupation and committing financial fraud for two consecutive years, reflecting a broader issue of compliance among companies in Dongguan [1][4][5]. Group 1: Regulatory Actions and Penalties - ST Huilun was fined a total of 11.4 million yuan for failing to disclose fund occupation issues and for inflating revenue by 25.49 million yuan in 2021 and 62.33 million yuan in 2022 [4]. - ST Quanwei received a regulatory letter for related party fund occupation amounting to 1.3 million yuan and significant internal control deficiencies [2][3]. - Tuo Si Da was issued a warning for inaccurate revenue recognition, leading to inflated profits in 2023 [3]. - Shang Ji Technology was penalized for multiple financial disclosure violations, including inaccurate revenue recognition and insufficient bad debt provisions [3]. Group 2: Broader Industry Implications - The regulatory actions against ST Huilun and other companies indicate a stringent stance on financial misconduct and the importance of compliance among listed companies [5][7]. - Companies like Guang Bo Laser and Dongguan Securities have also faced warnings for internal governance and compliance issues, highlighting systemic problems in the region [5][6]. - The penalties serve as a reminder for companies to enhance compliance awareness and ensure accurate and reliable information disclosure to protect investor interests [5][7].

Core Viewpoint - The article highlights the increasing regulatory scrutiny and penalties faced by companies in Dongguan, particularly ST Huilun, for financial misconduct and inadequate internal controls, indicating a broader trend of compliance issues among listed companies in the region [1][5]. Group 1: Regulatory Actions and Penalties - ST Huilun was fined 11.4 million due to concealing related party fund occupation and committing financial fraud for two consecutive years [1][4]. - ST Quanwei received a regulatory letter for related party fund occupation and internal control deficiencies, with a loan of 1.3 million from a related party identified as a significant issue [2][3]. - Guangdong TuoStar was issued a warning for inaccurate revenue recognition, including prematurely recognizing 7.9686 million in revenue, leading to inflated profits [3][5]. Group 2: Internal Control Issues - ST Huilun failed to disclose fund occupation matters, with a total fund occupation of 28.33 million, representing 5.12% of net assets, and inflated revenues by 25.49 million and 62.33 million in 2021 and 2022 respectively [4][5]. - Entropy Technology was warned for multiple financial disclosure violations, including inaccurate revenue recognition and insufficient bad debt provisions [3][5]. - Guangbo Laser faced regulatory measures for internal control deficiencies, including improper revenue recognition and failure to disclose related party transactions accurately [5][6]. Group 3: Broader Implications - The regulatory actions reflect a growing emphasis on compliance and the need for companies to enhance their governance and internal controls to protect investor interests [5][6]. - The penalties serve as a warning to other companies about the consequences of non-compliance, emphasizing the importance of accurate and reliable information disclosure [6].

Core Viewpoint - ST Huilun has been heavily fined 11.4 million due to concealing related party fund occupation and committing financial fraud for two consecutive years, reflecting a broader issue of compliance failures among companies in Dongguan [2][5][6]. Group 1: Regulatory Actions and Penalties - ST Huilun was penalized for failing to disclose fund occupation issues, with a total fund occupation amounting to 28.33 million, which constituted 5.12% of its net assets [5][6]. - ST Quanwei received a regulatory letter for related party fund occupation and internal control deficiencies, including a loan of 1.3 million from a related party that was not properly disclosed [3][4]. - Guangdong TuoStar was issued a warning for inaccurate revenue recognition, including prematurely recognizing 7.9686 million in revenue, leading to inflated profits [4][6]. Group 2: Internal Control Issues - ST Quanwei was found to have significant internal control deficiencies, including a lack of proper approval procedures for external guarantees and vulnerabilities in seal management [3][4]. - Huanji Technology faced multiple financial disclosure violations, including inaccurate revenue recognition and insufficient bad debt provisions, leading to a warning from the regulatory authority [4][6]. - Guangbo Laser was warned for financial internal control defects, including improper revenue recognition and failure to disclose related party transactions accurately [7]. Group 3: Broader Industry Implications - The regulatory actions against these companies signal a strict stance on information disclosure issues, emphasizing the need for companies to adhere to compliance and governance standards [8]. - The penalties highlight the importance of corporate governance and internal controls, urging companies to maintain accurate and reliable disclosures to protect investor trust [8].

Group 1 - The core point of the article highlights the recent performance of TuoSiDa, which saw a 5.72% increase in stock price, reaching 34.03 yuan per share, with a trading volume of 5.09 billion yuan and a turnover rate of 4.70%, resulting in a total market capitalization of 16.231 billion yuan [1] - TuoSiDa, established on June 1, 2007, and listed on February 9, 2017, is based in Dongguan, Guangdong Province, and specializes in providing industrial automation solutions and related equipment to downstream manufacturing clients. The revenue composition includes: smart energy and environmental management systems (31.50%), industrial robots and automation application systems (29.39%), injection molding machines and supporting equipment (21.05%), CNC machine tools (15.07%), and others (3.00%) [1] Group 2 - From the perspective of TuoSiDa's top circulating shareholders, E Fund's ETF, the E Fund National Robot Industry ETF (159530), increased its holdings by 9.0576 million shares in the third quarter, holding a total of 10.8108 million shares, which accounts for 3.26% of the circulating shares. The estimated floating profit today is approximately 19.8918 million yuan [2] - The E Fund National Robot Industry ETF (159530) was established on January 10, 2024, with a latest scale of 13.315 billion yuan. Year-to-date returns are 2.74%, ranking 4122 out of 5531 in its category; the one-year return is 37.21%, ranking 2157 out of 4215; and since inception, the return is 62.79% [2] Group 3 - The fund managers of the E Fund National Robot Industry ETF (159530) are Li Shujian and Li Xu. As of the report, Li Shujian has a cumulative tenure of 2 years and 131 days, with total fund assets of 19.758 billion yuan, achieving a best fund return of 134.11% and a worst return of -1.94% during his tenure [3] - Li Xu has a cumulative tenure of 3 years and 53 days, managing total fund assets of 26.538 billion yuan, with a best fund return of 164.04% and a worst return of 0.25% during his tenure [3] Group 4 - From the perspective of the fund's top holdings, the E Fund National Robot Industry ETF (159530) has TuoSiDa as its tenth largest holding, with an increase of 9.0576 million shares in the third quarter, holding a total of 10.8108 million shares, which represents 2.91% of the fund's net value. The estimated floating profit today is approximately 19.8918 million yuan [4]

Core Viewpoint - TuoStar's stock price increased by 5.72% to 34.03 CNY per share, with a trading volume of 502 million CNY and a market capitalization of 16.231 billion CNY as of January 16 [1] Company Overview - Guangdong TuoStar Technology Co., Ltd. is located in Dongguan, Guangdong Province, and was established on June 1, 2007, with its IPO on February 9, 2017 [1] - The company specializes in providing industrial automation solutions and related equipment to downstream manufacturing clients [1] - Revenue composition includes: Smart Energy and Environmental Management Systems (31.50%), Industrial Robots and Automation Application Systems (29.39%), Injection Molding Machines and Supporting Equipment (21.05%), CNC Machine Tools (15.07%), and Others (3.00%) [1] Shareholder Insights - Tianhong Fund's Tianhong CSI Robot ETF (159770) is among TuoStar's top ten circulating shareholders, having increased its holdings by 642,500 shares to a total of 3.6695 million shares, representing 1.11% of circulating shares [2] - The estimated floating profit from this investment is approximately 6.7519 million CNY [2] - The Tianhong CSI Robot ETF was established on October 26, 2021, with a current size of 9.078 billion CNY, yielding 6.39% this year and 34.3% over the past year [2] Fund Manager Performance - The fund managers of Tianhong CSI Robot ETF are Liu Xiaoming and Qi Shichao [3] - Liu Xiaoming has a tenure of 7 years and 114 days, managing assets totaling 19.894 billion CNY, with the best fund return of 81.74% and the worst return of -46.54% during his tenure [3] - Qi Shichao has a tenure of 360 days, managing assets of 32.53 billion CNY, with the best return of 69.89% and the worst return of 10.28% during his tenure [3] Fund Holdings - Tianhong CSI Robot ETF Initiated Link A (014880) holds 2,200 shares of TuoStar, ranking as the tenth largest holding, with an estimated floating profit of approximately 4,048 CNY [4] - This fund was established on July 11, 2023, with a current size of 509 million CNY, yielding 6.1% this year and 31.87% over the past year [4]