Core Viewpoint - The company relies heavily on overseas markets for revenue, with domestic income accounting for only about 2% of total revenue, which poses multiple potential risks such as customer concentration, trade policies, and exchange rate fluctuations [1] Group 1: Company Strategy - The company plans to enhance its modern enterprise system and optimize its governance structure to improve operational efficiency and reduce risks and costs [1] - The company aims for high-speed growth through a "1+2+3+4" development strategy, focusing on audio as the main business line and driving innovation through technology and product development [1] - The company will invest in research and development to ensure continuous upgrades in high-performance audio signal processing, transmission technologies, and smart audio systems, while also deepening research in artificial intelligence applications [1] Group 2: Market Development - The company intends to strengthen its domestic market presence, creating a dual-engine development model alongside its overseas market [1] - The company will enhance its competitive advantage across the entire audio technology chain by developing three main business areas: audio IoT modules, ODM audio systems, and smart audio-visual systems [1] Group 3: Product Innovation - The company emphasizes product innovation and aims to expand its application fields for products and system solutions, targeting new growth areas [1] - The company will focus on four key segments: home audio products, commercial audio products, personal audio products, and automotive audio products [1]

Core Viewpoint - The recent performance of Hansang Technology's stock highlights the volatility and risks associated with newly listed stocks, with significant losses experienced by investors shortly after the IPO. Group 1: Stock Performance - Hansang Technology issued 32.25 million shares at an initial price of 28.91 CNY per share, opening at 91.5 CNY on the first day, a 216.5% increase from the issue price [3] - The stock peaked at 110 CNY, representing a maximum gain of 280.49%, but closed the first day at 82.89 CNY, leading to immediate losses for many investors [3][6] - By the second trading day, the stock opened at 76.66 CNY, falling 7.52% and closing down 12.97% at 72.14 CNY [6] - The stock continued to decline, reaching 64.73 CNY on August 12 and 64.03 CNY on August 13, marking a significant drop from its initial high [6][10] Group 2: Investor Sentiment - Many investors expressed frustration and regret over their losses, feeling misled by the initial surge in stock price and subsequently becoming "bag holders" [9][12] - The rapid decline in stock price has led to a general reluctance among investors to engage with new IPOs in the future, reflecting a loss of confidence in the market [9][12] - The pattern of new stocks experiencing initial spikes followed by steep declines has become a concerning trend, with investors feeling trapped in their positions [12]

Group 1 - The core viewpoint of the article highlights that Hansang Technology's stock has seen a significant increase of 119.65% over the last 10 trading days, with a daily rise of 1.2% on August 15 [1] - The trading volume on August 15 was 236 million yuan, with a turnover rate of 13.78% [1] - The net inflow of main funds was 6.33 million yuan, accounting for 2.69% of the trading volume, while large orders experienced a net outflow of 967,200 yuan, representing 0.41% of the trading volume [1] Group 2 - Hansang Technology's main business focuses on high-end audio products and comprehensive audio technology solutions [1] - As of March 31, 2025, the company reported total operating revenue of 251 million yuan, a year-on-year decrease of 13.39%, and a net profit attributable to shareholders of 37.63 million yuan, down 15.18% year-on-year [1] - The company's liquidity ratios are 3.841 for the current ratio and 3.110 for the quick ratio, with a debt-to-asset ratio of 28.11% [1]

格隆汇8月14日丨汉桑科技(301491.SZ)在互动平台表示，公司目前无芯片研发，但在芯片技术领域，公 司在通用芯片应用方面积累了深厚的经验，基于各通用型芯片开发了各种功能模块，并应用于各种产品 中。此外，公司曾成功研发了具有语音交互、流媒体、物联网功能的 Mavid SIP 芯片，在此过程中，公 司积累了丰富的物联网和流媒体连接、信号传输等领域芯片相关开发经验，相关技术未来可应用于个人 穿戴领域音频等产品中。 ...

Group 1 - The core viewpoint of the article highlights the significant acceleration of IPO processes in the A-share market, particularly driven by companies from Jiangsu province, which leads the nation in several IPO metrics [1][7] - As of August 13, 2023, Jiangsu has seen 17 new A-share listings, the highest in the country, followed by Guangdong with 13 and Zhejiang with 10 [1] - Jiangsu also leads in the number of approved IPO applications with 16 out of 59, accounting for nearly 30% of the total [1][4] Group 2 - The newly listed companies from Jiangsu show strong market performance, with 5 companies having a market capitalization exceeding 10 billion yuan, and the top company, Tianfulong, valued at 19.584 billion yuan [4] - The first-day stock performance of the 17 newly listed companies was impressive, with 15 companies seeing their stock prices double, and two companies, Dingjia Precision and Tiangong Co., both increasing by over 400% [4] - Jiangsu's IPOs cover a diverse range of industries, including traditional chemicals and electronic technology, with three companies each in basic chemicals, machinery, and power equipment sectors [4] Group 3 - The rapid IPO approval process in Jiangsu is notable, with companies like Hansan Technology receiving approval in just 5 days, significantly faster than the industry average [4][8] - The strong performance of Jiangsu's IPOs is attributed to local government support and an optimized capital market ecosystem, which has been a focus of Jiangsu's provincial policies since 2021 [7][8] - Initiatives such as strategic cooperation agreements between Jiangsu's regulatory bodies and local governments aim to enhance the quality of listed companies and support high-quality economic development [7][8]

证券代码：301491 证券简称：汉桑科技 公告编号：2025-001 汉桑（南京）科技股份有限公司 关于签订募集资金三方监管协议的公告 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。 一、募集资金的情况概述 经中国证券监督管理委员会《关于同意汉桑（南京）科技股份有限公司首次 公开发行股票注册的批复》（证监许可〔2025〕644号）同意，汉桑（南京）科 技股份有限公司（以下简称"公司"）首次公开发行人民币普通股（A股）3,225.0000 万股，发行价格为28.91元/股，募集资金总额为人民币93,234.75万元，扣除相关 发行费用（不含增值税）后，实际募集资金净额为人民币86,489.52万元。募集资 金已于2025年7月31日划至公司指定账户。天健会计师事务所（特殊普通合伙） 对募集资金到位情况进行了审验，并出具了《验资报告》（天健验〔2025〕226 号）。 二、《募集资金三方监管协议》的签订和募集资金专户的开立、存储情况 为规范公司募集资金管理，保护投资者权益，根据《上市公司募集资金监管 规则》《深圳证券交易所上市公司自律监管指引第2号——创业板上 ...

Core Viewpoint - Hansang Technology (301491) successfully held an online roadshow for its initial public offering (IPO) on July 24, with subscription starting on July 25 at a price of 28.91 yuan per share [1][8]. Group 1: Company Performance - During the reporting period, the company achieved operating revenues of 1,386.33 million yuan, 1,031.38 million yuan, and 1,454.04 million yuan, with net profits attributable to shareholders of 189.57 million yuan, 135.99 million yuan, and 253.65 million yuan respectively, indicating strong operational capabilities [5]. - The company has over 20 years of experience in audio technology and product development, establishing core technological capabilities in high-performance audio signal processing, transmission, and intelligent audio systems [5][6]. Group 2: Research and Development - Hansang Technology has invested significantly in R&D, with over 200 personnel in research teams across centers in Nanjing, India, and Denmark, and holds more than 100 domestic and international patents [6]. - The company has been recognized as a high-tech enterprise in Jiangsu Province and was awarded the provincial engineering technology research center title in 2022 [6]. Group 3: Future Strategy - The company has outlined a development strategy of 1+2+3+4, focusing on audio business, expanding core module, complete machine, and smart audio system revenues, and developing products for personal, home, commercial, and automotive audio systems [7].

Core Viewpoint - Hansang Technology is leveraging its IPO and listing on the ChiNext board as an opportunity to enhance its technological and product innovation, aiming to maintain its leading position in the audio industry and continuously develop high-quality products and solutions to meet market demands [3][5]. Company Overview - Hansang Technology specializes in the smart audio industry, driven by technological innovation, with capabilities in core technology, product innovation, and full-process production [3]. - The company offers a comprehensive range of audio solutions, including personal smart speakers, home audio systems, commercial audio systems, and automotive audio systems [3]. Financial Performance - The company reported overseas sales revenues of 1,346.13 million yuan, 1,002.22 million yuan, and 1,404.34 million yuan for the respective reporting periods, with overseas sales accounting for over 97% of total revenue [7]. - Research and development expenses for 2022, 2023, and 2024 were 72.42 million yuan, 74.26 million yuan, and 82.87 million yuan, respectively, showing an overall upward trend [8]. Strategic Goals - The company aims to expand its market share in China for its own brands Tivoli, Primare, and Rongyu, creating a positive dual circulation between domestic and international markets [7]. - The company has set a strategic framework of 1+2+3+4 to increase investment in the Chinese market [7]. IPO Details - The IPO price for Hansang Technology is set at 28.91 yuan per share, with subscription starting on July 25 [9].

证券日报网讯汉桑科技8月11日在互动平台回答投资者提问时表示，公司已经与NAD、Tonies等众多品 牌达成合作。 ...

Core Viewpoint - The company, Hansan Technology, confirmed that it currently does not have any collaboration with Apple or related industry chains [1] Company Summary - Hansan Technology responded to an investor inquiry on August 11, indicating no existing partnerships with Apple [1]