Group 1 - The core viewpoint of the news is that Tian Su Measurement has shown fluctuations in its stock performance and financing activities, with a notable drop in stock price on January 5, 2025 [1] - On January 5, 2025, Tian Su Measurement's stock price fell by 2.29%, with a trading volume of 381 million yuan [1] - The financing buy-in amount on January 5 was 29.36 million yuan, while the financing repayment was 19.33 million yuan, resulting in a net financing buy-in of 10.03 million yuan [1] Group 2 - As of January 5, 2025, the total balance of margin trading for Tian Su Measurement was 54.57 million yuan, accounting for 4.75% of its circulating market value [1] - The company has not engaged in any short selling activities on January 5, with no shares sold or repaid [1] - Tian Su Measurement, established on June 17, 2009, specializes in measurement calibration, testing, and certification services across various sectors, including biomedicine, automotive, and renewable energy [1] Group 3 - As of December 23, 2025, the number of shareholders for Tian Su Measurement reached 20,200, reflecting a significant increase of 201,920% [2] - For the period from January to September 2025, the company reported a revenue of 648 million yuan, representing a year-on-year growth of 12.12% [2] - The net profit attributable to the parent company for the same period was 92.99 million yuan, showing an increase of 11.62% year-on-year [2]

Core Viewpoint - All 11 companies listed on the ChiNext board have announced positive earnings forecasts for 2025, indicating a strong growth outlook for these firms [1] Group 1: Company Earnings Forecasts - Company Guangku Technology (300620) expects a net profit increase of 162% with a closing price of 151.68 yuan and a year-to-date change of +3.15% [1] - Company Dingtai (301377) anticipates a net profit increase of 91.74% with a closing price of 142.91 yuan and a year-to-date change of +2.74% [1] - Company Taotao Automotive (301345) forecasts a net profit increase of 91.30% with a closing price of 257.60 yuan and a year-to-date change of +2.50% [1] - Company Haiziwang (301078) projects a net profit increase of 66.89% with a closing price of 10.72 yuan and a year-to-date change of +3.38% [1] - Company Ugreen Technology (301606) expects a net profit increase of 49.91% with a closing price of 60.71 yuan and a year-to-date change of +3.35% [1] - Company Group (300428) anticipates a net profit increase of 20.21% with a closing price of 23.53 yuan and a year-to-date change of +0.77% [1] - Company Tiansu (301449) forecasts a net profit increase of 10.31% with a closing price of 82.50 yuan and a year-to-date change of -2.29% [1] - Company C New Guangyi (301687) expects a net profit increase of 10.00% with a closing price of 69.18 yuan and a year-to-date change of -3.00% [1] - Company Nabai Chuan (301667) anticipates a net profit increase of 9.72% with a closing price of 73.58 yuan and a year-to-date change of -8.31% [1] - Company Xinhenghui (301678) projects a net profit increase of 4.66% with a closing price of 68.01 yuan and a year-to-date change of +5.90% [1] - Company Digital (301638) expects a net profit increase of 2.76% with a closing price of 19.63 yuan and a year-to-date change of +4.36% [1]

Core Viewpoint - The company, Tian Su Measurement, provides professional technical services such as measurement calibration, testing, and certification across various sectors including biotechnology, new energy vehicles, information technology, semiconductor integrated circuits, energy conservation and environmental protection, rail transportation, energy and power, and high-end equipment manufacturing [1]. Group 1 - The main business areas of the company include biotechnology, new energy vehicles, information technology, semiconductor integrated circuits, energy conservation and environmental protection, rail transportation, energy and power, and high-end equipment manufacturing [1].

Core Viewpoint - The company, Tian Su Measurement (301449), has established a network of calibration and testing laboratories across multiple regions in China, enhancing its operational capabilities and compliance with national standards [1] Group 1: Company Developments - The company has set up calibration and testing laboratories in Guangdong, Guangxi, Yunnan, Hunan, Hubei, Jiangsu, Henan, Shanxi, Shaanxi, and Xinjiang [1] - The laboratories have received recognition from the China National Accreditation Service for Conformity Assessment (CNAS) and the Certification and Accreditation Administration of the People's Republic of China (CMA) [1] - The Hainan Tianzhong Laboratory has obtained legal metrology certification, further solidifying the company's credentials in the industry [1] Group 2: Certifications and Approvals - The subsidiary, Tian Su International, has received approval from the National Certification and Accreditation Administration (CNCA) as a recognized certification body [1]

Investment Rating - The report does not explicitly provide an investment rating for the industry or companies discussed. Core Insights - The technology industry experienced 196 financing events globally from December 22, 2025, to January 1, 2026, with 181 events in China and 15 abroad, highlighting significant investment activity in advanced manufacturing, artificial intelligence, and enterprise services [9]. - The semiconductor sector is witnessing advancements with the global release of high-purity P-type SiC substrates and the development of the first 12-inch high-quality silicon carbide epitaxial wafer, which are expected to enhance production efficiency and reduce costs in the semiconductor industry [33][38]. - The artificial intelligence sector is advancing with new technologies such as the TurboDiffusion framework for video generation, which can accelerate video creation by up to 200 times, and the introduction of the "Shan Hai" S30FP/S30P SPU IP, which provides comprehensive security solutions for high-performance computing chips [4][41]. Summary by Sections Financing Overview - A total of 196 financing events occurred in the technology sector during the specified period, with advanced manufacturing, artificial intelligence, and enterprise services leading the way in terms of the number of events [9]. IPO Updates - Several companies went public, including: - **InSilico Medicine** listed on the Hong Kong Stock Exchange, focusing on AI-driven drug discovery, significantly reducing the time for drug development from an average of 4.5 years to 12-18 months [11][12]. - **Tiansu Measurement** listed on the Shenzhen Stock Exchange, providing independent third-party measurement and testing services across various industries [15][16]. - **Nobikang** also listed on the Hong Kong Stock Exchange, specializing in AI solutions for railway and power companies [18][19]. Semiconductor Sector Developments - **SuperChip** launched a high-purity P-type SiC substrate, addressing critical impurities that have historically hindered the industry, thus enhancing the reliability of high-voltage IGBT devices [33][36]. - **Hantian Technology** developed the world's first 12-inch high-quality silicon carbide epitaxial wafer, which is expected to significantly improve production efficiency and lower costs in the semiconductor industry [38][40]. - **Arm Technology** introduced the "Shan Hai" S30FP/S30P SPU IP, enhancing security for high-performance computing applications [41][42]. AI and Quantum Technology Innovations - The report highlights advancements in AI, including a collaboration between Shenshu Technology and Tsinghua University to accelerate video generation, and IBM's new framework for large language model planning [4][41]. - In quantum technology, IonQ has established a significant presence in South Korea with its quantum computing capabilities, marking a strategic expansion in the global infrastructure [4][6].

Group 1: New Listings - Jiangsu Xihua New Energy Technology Co., Ltd. listed on the Shanghai Stock Exchange main board on December 23, raising 1.01 billion yuan, with a first-day stock price increase of 264.46% and a market cap of approximately 11.4 billion yuan as of December 29 [3][5] - Ningbo Jianxin Superconducting Technology Co., Ltd. listed on the Shanghai Stock Exchange Sci-Tech Innovation Board on December 24, raising 779 million yuan, with a first-day stock price increase of 212.81% and a market cap of approximately 7.9 billion yuan as of December 29 [3][5] - Shenzhen Tian Su Measurement and Testing Co., Ltd. listed on the Shenzhen Stock Exchange ChiNext on December 23, raising 600 million yuan, with a first-day stock price increase of 174.48% and a market cap of approximately 6.8 billion yuan as of December 29 [4][5] - Nabai Chuan New Energy Co., Ltd. also listed on the Shenzhen Stock Exchange ChiNext on December 23, raising 632 million yuan, with a first-day stock price increase of 408.17% and a market cap of approximately 10.1 billion yuan as of December 29 [4][5] Group 2: Companies Passing Review - Shijiazhuang Vision Technology Co., Ltd. passed the review for listing on the Shanghai Stock Exchange Sci-Tech Innovation Board on December 24, focusing on micro-display solutions [6][8] - Luoyang Shenglong Mining Group Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange main board on December 23, engaged in non-ferrous metal mining [9][10] - Hangzhou Fuen Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange main board on December 26, specializing in eco-friendly fabric [9][10] - Shenzhen Dapu Microelectronics Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange ChiNext on December 25, focusing on enterprise-level SSD products [9][10] - Nanchang Sanrui Intelligent Technology Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange ChiNext on December 26, specializing in drone and robot power systems [9][10] Group 3: Companies Submitting IPO Applications - Tianjin Fujida Bicycle Industrial Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange main board on December 24, planning to raise 773 million yuan [12][14] - Shenyang Compressor Group Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange main board on December 25, planning to raise 2.134 billion yuan [12][19] - Shenzhen Hanno Medical Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 23, planning to raise 1.062 billion yuan [12][23] - Dandong Oriental Measurement and Control Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 25, planning to raise 1.1 billion yuan [12][25] - Suzhou Tongxin Medical Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 26, planning to raise 1.064 billion yuan [12][27] - Shenzhen Deep Blue Ocean Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 26, planning to raise 1.5 billion yuan [12][29] Group 4: Financial Data Highlights - Fujida projected revenues of 4.371 billion yuan, 3.621 billion yuan, and 4.880 billion yuan from 2022 to 2024, with net profits of 348 million yuan, 285 million yuan, and 408 million yuan respectively [17][18] - Shenyang Compressor Group projected revenues of 7.396 billion yuan, 8.206 billion yuan, and 9.309 billion yuan from 2022 to 2024, with net profits of 181 million yuan, 355 million yuan, and 442 million yuan respectively [20][21] - Hanno Medical projected revenues of 0, 298 million yuan, and 493 million yuan from 2022 to 2024, with net losses of 647 million yuan, 3.41 billion yuan, and 1.83 billion yuan respectively [24] - Oriental Measurement and Control projected revenues of 603 million yuan, 521 million yuan, and 567 million yuan from 2022 to 2024, with net profits of 92.5 million yuan, 74.8 million yuan, and 73.1 million yuan respectively [26] - Tongxin Medical projected revenues of 8.611 million yuan, 50.453 million yuan, and 77.351 million yuan from 2022 to 2024, with net losses of 1.89 billion yuan, 3.06 billion yuan, and 3.72 billion yuan respectively [28]

Core Viewpoint - Tian Su Measurement experienced a decline of 2.62% today, with a turnover rate of 41.18% and a total transaction amount of 499 million yuan, indicating significant trading activity and volatility in the stock [2] Trading Activity - The stock was listed on the Shenzhen Stock Exchange due to its turnover rate reaching 41.18%, with institutional investors net buying 1.0852 million yuan [2] - The top five trading departments accounted for a total transaction amount of 124 million yuan, with buying transactions amounting to 56.4821 million yuan and selling transactions amounting to 67.6886 million yuan, resulting in a net selling of 11.2065 million yuan [2] - Among the trading departments, three institutional special seats were involved, with a total buying amount of 38.7898 million yuan and a selling amount of 37.7047 million yuan, leading to a net buying of 1.0852 million yuan [2] Fund Flow - The stock saw a net outflow of main funds amounting to 27.9855 million yuan today, with large single orders experiencing a net outflow of 16.9787 million yuan and large orders a net outflow of 11.0068 million yuan [2] - Over the past five days, the main funds have seen a net outflow of 17.8235 million yuan [2]

Group 1 - The professional services sector increased by 0.33% on December 31, with Beijing Human Resources leading the gains [1] - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1] - Key stocks in the professional services sector showed varied performance, with Beijing Human Resources closing at 18.34, up 3.62%, and other notable stocks like Guolan Testing and Steel Research Nake also showing positive gains [1] Group 2 - The professional services sector experienced a net outflow of 225 million yuan from institutional investors, while retail investors saw a net inflow of 220 million yuan [2] - The trading volume and turnover for key stocks varied, with notable transactions such as Beijing Human Resources achieving a turnover of 174 million yuan [1][2] - The data indicates a mixed sentiment in the market, with institutional investors pulling back while retail investors remained active [2][3]

Market Overview - As of December 31, the Shanghai Composite Index closed at 3968.84 points, up by 3.72 points, with a change of 0.09% [1] - The Shenzhen Component Index closed at 13525.02 points, down by 79.04 points, with a change of -0.58% [1] - The ChiNext Index closed at 3203.17 points, down by 39.73 points, with a change of -1.23% [1] Trading Activity - A total of 94 A-shares had a turnover rate exceeding 20% on the same day [1] - Notably, C Xin Guang Yi and Guang Dao Tui had turnover rates exceeding 50%, indicating significant trading activity [1] Top Stocks by Turnover Rate - C Xin Guang Yi (301687) had a closing price of 71.32 yuan, with a turnover rate of 80.68% and a price increase of 225.22% [1] - Guang Dao Tui (920680) closed at 0.86 yuan, with a turnover rate of 60.23% and a price decrease of -21.82% [1] - Other notable stocks include: - Yu Yin Co., Ltd. (002177) with a turnover rate of 56.99% and a price increase of 10.06% [1] - C Qiang Yi (688809) with a turnover rate of 56.70% and a price increase of 13.62% [1] - C Heng Dong Guang (920045) with a turnover rate of 53.79% and a price increase of 878.16% [1]

一、募集资金的基本情况 经中国证券监督管理委员会《关于同意深圳天溯计量检测股份有限公司首次 公开发行股票注册的批复》（证监许可〔2025〕2424 号）同意注册,公司首次公开 发行人民币普通股（A 股）股票 16,304,348 股，每股面值 1 元，每股发行价格为 人民币 36.80 元，募集资金总额为人民币 600,000,006.40 元，扣除相关发行费用 人民币 75,368,557.86 元（不含税）后，募集资金净额为人民币 524,631,448.54 元。上述募集资金已于 2025 年 12 月 18 日全部到位，众华会计师事务所（特殊 普通合伙）已对公司本次发行募集资金到位情况进行了审验，并出具了《验资报 告》（众会字（2025）第 11809 号）。公司已按规定对上述募集资金进行了专户存 储管理，并与存放募集资金的商业银行、保荐机构签订了《募集资金三方监管协 议》。 二、募集资金投资项目的基本情况 根据公司《首次公开发行股票并在创业板上市招股说明书》（以下简称"招股 说明书"）披露的募集资金投资项目及募集资金使用计划如下： 招商证券股份有限公司 关于深圳天溯计量检测股份有限公司 使用募集资金 ...