五矿证券有限公司 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内 容与格式准则第 26 号—上市公司重大资产重组》等相关规定，本次交易的自查 期间为上市公司就本次交易首次停牌（2025 年 4 月 8 日）前六个月至《深圳市 致尚科技股份有限公司发行股份及支付现金购买资产暨关联交易报告书（草案）》 披露之前一日（2025 年 8 月 11 日）。本次交易的核查对象包括： （1）上市公司及其董事、高级管理人员； （2）上市公司控股股东、实际控制人及其董事、监事、高级管理人员（或 主要负责人）； （3）交易对方及其控股股东、实际控制人、董事、监事、高级管理人员（或 主要负责人）； 关于深圳市致尚科技股份有限公司 本次交易相关主体买卖股票情况的自查报告 之专项核查意见 深圳市致尚科技股份有限公司（以下简称"致尚科技"或"上市公司"）拟 通过发行股份及支付现金的方式向深圳市海纳天勤投资有限公司、深圳市中博文 投资有限公司、深圳市法兰克奇投资有限公司、深圳市恒永诚投资合伙企业（有 限合伙）、深圳市恒永信企业管理合伙企业（有限合伙）及其他 44 名股东（以 下简称"交易对方"）购买其合计持有的深圳市恒 ...

湖南启元律师事务所 关于 深圳市致尚科技股份有限公司 发行股份及支付现金购买资产暨关联交易 相关主体买卖上市公司股票的 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心 63 层 电话：0731-82953778 传真：0731-82953779 邮编：410000 网站：www.qiyuan.com 致：深圳市致尚科技股份有限公司 湖南启元律师事务所（以下简称"本所"）接受深圳市致尚科技股份有限公 司（以下简称"上市公司"或"致尚科技"）委托，担任致尚科技发行股份及支 付现金购买资产暨关联交易项目（以下简称"本次交易"）的专项法律顾问。 本所根据《中华人民共和国证券法》《上市公司重大资产重组管理办法》（以 下简称"《重组管理办法》"）《公开发行证券的公司信息披露内容与格式准则 第26号——上市公司重大资产重组》（以下简称"《26号格式准则》"）《监管 规则适用指引——上市类第1号》等法律、法规和规范性文件的有关规定，对本 次交易的相关机构及人员在股票交易自查期间，即上市公司就本次交易申请股票 停牌前六个月至披露《深圳市致尚科技股份有限公司发行股份及支付现金购买资 产暨关联交易报告书（草案）》（以下简称" ...

证券代码：301486 证券简称：致尚科技 公告编号：2025-084 深圳市致尚科技股份有限公司 发行股份及支付现金购买资产暨关联交易相关主体买卖股 票情况的自查报告 （3）交易对方及其控股股东、实际控制人、董事、监事、高级管理人员（或 主要负责人）； （4）为本次交易提供服务的中介机构及经办人员； 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 深圳市致尚科技股份有限公司（以下简称"致尚科技""上市公司""公司"） 拟通过发行股份及支付现金的方式向深圳市海纳天勤投资有限公司、深圳市中博 文投资有限公司、深圳市法兰克奇投资有限公司、深圳市恒永诚投资合伙企业（有 限合伙）、深圳市恒永信企业管理合伙企业（有限合伙）及其他 44 名股东（以 下简称"交易对方"）购买其合计持有的深圳市恒扬数据股份有限公司 99.8555% 股权（以下简称"本次交易"）。 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露 内容与格式准则第 26 号—上市公司重大资产重组》等文件的规定，公司对本次 交易相关主体买卖上市公司股票的情况进行了自查，具体情况如下： 一、本次 ...

证券之星消息，8月25日消费电子板块较上一交易日上涨2.58%，和而泰领涨。当日上证指数报收于 3883.56，上涨1.51%。深证成指报收于12441.07，上涨2.26%。消费电子板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002402 | 和而泰 | 39.75 | 9.99% | 71.07万 | | 28.08亿 | | 002600 | 领益智造 | 13.56 | 9.98% | 688.54万 | | 89.94亿 | | 300857 | 协创数据 | 107.40 | 9.45% | 32.78万 | | 35.36亿 | | 688775 | 影石创新 | 283.25 | 6.89% | 8.13万 | | 22.69亿 | | 301486 | 致尚科技 | 97.08 | 5.75% | 14.81万 | | 13.83亿 | | 300916 | 朗特智能 | 47.90 | 5.34% | 8.67万 | | 4.12亿 ...

Core Viewpoint - Shenzhen Zhishang Technology Co., Ltd. has approved the use of idle raised funds (including oversubscribed funds) for cash management to enhance fund utilization efficiency and increase cash asset returns, with a limit of up to RMB 1 billion for a period of twelve months [1][6]. Group 1: Cash Management Approval - The company held board and supervisory meetings on April 17, 2025, and a shareholder meeting on May 9, 2025, to approve the cash management proposal [1][2]. - Independent directors and the sponsor institution expressed clear agreement on the cash management plan [2]. Group 2: Cash Management Implementation - The company has redeemed cash management products purchased with idle raised funds and will continue cash management activities [3]. - The total unused balance of idle raised funds for cash management as of the announcement date is RMB 895 million, which is within the approved limit of RMB 1 billion [7]. Group 3: Risk Control Measures - The company will invest only in high-security, liquid financial products with a maturity of no more than 12 months, primarily influenced by macroeconomic policies [3][4]. - Strict adherence to regulatory guidelines and internal management systems will be maintained during cash management operations [4][5]. Group 4: Impact on Company - The cash management initiative will not affect the construction of fundraising projects or the normal operation of the company's main business, ensuring the protection of shareholder interests [6].

Investment Rating - Industry Rating: Outperform the Market (maintained rating) [5] Core Insights - The report discusses the challenges in data center link technologies, emphasizing the trade-offs between transmission distance, power consumption, and reliability. Copper cables offer high efficiency and reliability but are limited to distances of less than 2 meters, while optical links provide longer distances at the cost of higher power consumption and lower reliability [1][11]. - The introduction of the MOSAIC optical transmission technology by Microsoft aims to overcome the limitations of both optical and copper links, achieving long-distance transmission, low power consumption, and high reliability without requiring hardware changes [2][18]. - MOSAIC utilizes a wide-and-slow architecture with numerous parallel channels operating at lower data rates, employing Micro LEDs as transmitters to achieve high data rates [3][26]. Summary by Sections 1. Challenges in Current Link Technologies - Data center networks face fundamental trade-offs in transmission distance, power consumption, and reliability, with copper cables being limited in distance and optical links suffering from high power consumption [1][11]. - The performance of copper cables declines rapidly with increased data rates, while optical links experience significant power increases [12][15]. 2. MOSAIC Technology Overview - MOSAIC is designed to be backward compatible with existing standards and interfaces, allowing seamless integration into current network architectures [2][18]. - The architecture employs a large number of parallel channels, each operating at a lower data rate of 2 Gbps, to achieve higher aggregate speeds [3][26]. - MOSAIC has demonstrated the ability to maintain stable data transmission over distances of up to 30 meters, significantly exceeding traditional copper cable capabilities [32]. 3. Component Increment from MOSAIC - The implementation of MOSAIC is expected to benefit several components, including Micro LEDs, multi-core imaging fibers, TIR lenses, CMOS sensors, and Micro LED optical connectors [4][42]. - The report highlights specific companies that could benefit from this technology, such as Zhaochi Co., Sanan Optoelectronics, and Longfly Fiber [5][64]. 4. Investment Recommendations - The report suggests focusing on companies involved in the MOSAIC supply chain, particularly those producing Micro LEDs and related optical components, as they are likely to see significant growth with the adoption of this technology [4][64].

证券代码：301486 证券简称：致尚科技 公告编号：2025-083 深圳市致尚科技股份有限公司 关于使用部分闲置募集资金（含超募资金）进行现金管理 赎回并继续进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 深圳市致尚科技股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日召开 第三届董事会第四次会议和第三届监事会第三次会议，并于 2025 年 5 月 9 日召 开 2024 年度股东大会，审议通过了《关于使用部分闲置募集资金（含超募资金） 进行现金管理的议案》，为提高公司资金使用效率，增加公司现金资产收益，同 意公司在不影响募集资金投资项目建设和公司正常运营的情况下，使用部分闲置 募集资金（含超募资金）不超过人民币 100,000 万元进行现金管理，使用期限为 自公司股东大会审议通过之日起十二个月内有效。在上述额度及决议有效期内， 资金可以循环滚动使用。 公司独立董事专门会议、保荐机构对上述事项均发表了明确同意的意见。具 体内容详见公司于 2025 年 4 月 18 日在巨潮资讯网（http://www.cninfo ...

证券日报网讯致尚科技8月21日在互动平台回答投资者提问时表示，公司转让福可喜玛股权事项是公司 根据整体战略规划作出的决策，符合公司长远发展规划和利益。本次交易有助于优化公司产业配置，增 强公司资金实力，促进公司高质量发展。 （文章来源：证券日报） ...

Core Viewpoint - The optical communication business of Zhishang Technology is rapidly developing and has become a significant growth driver for the company's performance [2]. Company Summary - Zhishang Technology's optical communication products primarily include optical fiber connectors, such as MTP/MPO optical fiber jumpers, high-density optical fiber jumpers, optical fiber array components, and conventional optical fiber jumpers [2].

Group 1 - The core point of the article is that Zhishang Technology plans to acquire 99.8555% of Hengyang Data for a total price of 1.148 billion yuan, which raises concerns about the underlying issues related to this acquisition [1][18]. - The acquisition appears to be a significant move into the AI computing sector, following a series of rapid capital operations by Zhishang Technology, which previously focused on gaming machine components and later shifted to optical communication [2][18]. - Hengyang Data's revenue from intelligent computing and data processing products is projected to grow significantly, with revenues of 237 million yuan in 2023 and 473 million yuan in 2024, alongside net profits of 37.35 million yuan and 85.47 million yuan respectively [2][3]. Group 2 - Hengyang Data's business structure is changing, with the revenue share from intelligent computing products increasing from 32.83% in 2023 to 57.93% in 2024, while data processing products' share is decreasing [3][5]. - Despite the growth in revenue, Hengyang Data's gross margin is declining sharply, with the gross margin for intelligent computing products dropping from 55.48% in 2023 to 12.65% in Q1 2025 [6][7]. - The company's heavy reliance on major clients is evident, with two clients, A Client and Alibaba Group, accounting for over 86.6% of total revenue in 2024 [12][14]. Group 3 - The valuation of Hengyang Data has fluctuated significantly, with its estimated value rising from 576 million yuan to 983 million yuan within a month due to stock transfers, raising questions about the fairness of the acquisition price [18][19]. - The performance commitments made by Hengyang Data's major shareholders are under scrutiny, as the financial health of the main commitment party, Shenzhen Haina Tianqin Investment Co., is weak, with total assets of only 53.04 million yuan and a net asset of 11.30 million yuan [20][21]. - The article highlights the risks associated with the acquisition, including the potential inability of the performance commitments to be met, which could impact Zhishang Technology's future performance [22].