Core Viewpoint - On August 14, 2023, brokerage firms provided target prices for listed companies, with notable increases in target prices for companies such as Haishike, Wancheng Group, and Weixing New Materials, indicating strong potential in the chemical pharmaceuticals, leisure food, and decoration materials industries [1][2]. Target Price Increases - The companies with the highest target price increases were: - Haishike with a target price increase of 48.00% [2] - Wancheng Group with a target price increase of 41.16% [2] - Weixing New Materials with a target price increase of 38.89% [2] - Other notable companies included: - China Unicom with a target price increase of 31.97% [2] - Kweichow Moutai with a target price increase of 31.81% [2] Brokerage Recommendations - A total of 52 listed companies received brokerage recommendations on August 14, with Weixing New Materials receiving the highest number of recommendations at 5 [3]. - Satellite Chemical received 3 recommendations, while Wanhua Chemical also received 3 [3]. Rating Adjustments - Two companies had their ratings raised: - Shuanghui Development's rating was upgraded from "Hold" to "Buy" by Kaiyuan Securities [4] - United Imaging Healthcare's rating was upgraded from "Hold" to "Buy" by Cinda Securities [4] Rating Downgrades - Two companies had their ratings lowered: - Jian Sheng Group's rating was downgraded from "Buy" to "Hold" by Dongwu Securities [5] - Aisheng Co.'s rating was downgraded from "Buy" to "Hold" by Zhongtai Securities [5] First-Time Coverage - On August 14, 10 companies received first-time coverage from brokerages, including: - Baoneng New Energy with a "Buy" rating from Huatai Securities [6] - Beiqi Blue Valley with an "Increase" rating from Western Securities [6] - Jian Sheng Group with an "Increase" rating from Dongwu Securities [6] - Emei Mountain A with a "Buy" rating from Huaxin Securities [6] - Jingxin Pharmaceutical with a "Recommended" rating from Huachuang Securities [6]

金融界消息 截至2025年8月12日收盘，绿联科技（301606）报收于61.69元，上涨4.56%，换手率 2.35%，成交量5.15万手，成交金额3.08亿元。 天眼查商业履历信息显示，深圳市绿联科技股份有限公司，成立于2012年，位于深圳市，是一家以从事 零售业为主的企业。企业注册资本41490.9806万人民币，实缴资本25000万人民币。公司法定代表人为 何梦新。 通过天眼查大数据分析，深圳市绿联科技股份有限公司共对外投资了9家企业，参与招投标项目1495 次，知识产权方面有商标信息212条，专利信息1380条，此外企业还拥有行政许可21个。 来源：金融界 资金流向方面，今日主力资金净流出1092.74万元，占比成交额3.54%。其中，超大单净流出352.70万 元、占成交额1.14%，大单净流出740.04万元、占成交额2.4%，中单净流出流出623.10万元、占成交额 2.02%，小单净流入1715.84万元、占成交额5.56%。 绿联科技最新一期业绩显示，截至2025一季报，公司营业总收入18.24亿元、同比增长41.99%，归属净 利润1.50亿元，同比增长47.18%，扣非净利润1.43亿 ...

Core Insights - The consumer electronics sector experienced a decline of 1.51% on August 1, with Dingjia Precision leading the drop [1] - The Shanghai Composite Index closed at 3559.95, down 0.37%, while the Shenzhen Component Index closed at 10991.32, down 0.17% [1] Stock Performance - 隆扬电子 (Longyang Electronics) saw a significant increase of 12.06%, closing at 43.10 with a trading volume of 297,700 shares and a transaction value of 1.29 billion [1] - 可川科技 (Kechuan Technology) rose by 9.99%, closing at 30.29 with a trading volume of 171,500 shares and a transaction value of 515 million [1] - 鼎佳精密 (Dingjia Precision) led the decline with a drop of 14.56%, closing at 55.22 with a trading volume of 98,100 shares and a transaction value of 561 million [2] - 工业富联 (Industrial Fulian) decreased by 4.65%, closing at 33.00 with a trading volume of 2,194,000 shares and a transaction value of 7.29 billion [2] Capital Flow - The consumer electronics sector saw a net outflow of 1.188 billion from main funds, while retail investors contributed a net inflow of 1.256 billion [2]

Core Viewpoint - The recent ESG Annual Forum recognized Ugreen Technology for its outstanding practices in product quality, safety, and sustainability, highlighting the integration of economic efficiency and social responsibility in its operations [1][2]. Group 1: Awards and Recognition - Ugreen Technology received the "Product Responsibility Award" at the 2025 ESG Annual Forum, which aims to identify and honor companies excelling in product dimensions [1]. - The award is backed by authoritative institutions, emphasizing the importance of integrating economic and social responsibilities [1]. Group 2: Quality Control and Innovation - Ugreen Technology has deeply integrated the ISO9001 quality management system across its R&D, production, and after-sales processes, investing 304 million yuan in R&D and employing a technical team of 819 people, which constitutes 22.57% of its workforce [4]. - The company has established a comprehensive product recall mechanism and a VOC customer feedback system, achieving a 100% resolution rate for 356 customer complaints throughout the year [4]. - Ugreen's NAS private cloud team emphasizes the principle of AI as an assistant rather than a decision-maker, providing localized AI model training and options to disable AI features [4]. Group 3: Environmental Responsibility - Ugreen Technology has embedded environmental concepts into its product design, achieving a 20% increase in charging efficiency through innovative charging technology [5]. - The company has begun using FSC-certified materials for packaging, with over 90% of new products made from these materials since July 2024 [5]. - Ugreen has implemented a product carbon footprint management system, effectively managing 5,676 tons of greenhouse gas emissions associated with its 6.17 billion yuan revenue [5]. Group 4: Corporate Philosophy - Ugreen Technology's approach to product responsibility encompasses quality, safety, and sustainability, positioning itself as a brand that values social responsibility and technological advancement [5]. - The recognition from the ESG award reflects the company's commitment to becoming a valuable and compassionate global brand, aligning with the ethos of "technology for good" [5].

Core Viewpoint - The announcement details the listing and circulation of shares for Shenzhen Luguan Technology Co., Ltd. following its initial public offering (IPO), including the number of shares released from restrictions and the commitments made by shareholders regarding share transfers [1][2][11]. Summary by Sections 1. Overview of Share Changes - The total share capital of the company is 414,909,806 shares, with 381,707,890 shares still under restriction, representing 92.00% of the total [2]. - A total of 185,814,393 restricted shares will be released, accounting for 44.7843% of the total share capital, with a restriction period of 12 months from the IPO date [2][11]. 2. Shareholder Commitments - Shareholders have committed not to transfer or manage their shares for 12 months post-IPO, ensuring compliance with relevant laws and regulations [3][4][5]. - Specific measures are in place for shareholders who violate these commitments, including a prohibition on selling shares for 6 months following any violation [4][10]. 3. Listing and Circulation Arrangements - The release of restricted shares involves 10 shareholders for pre-IPO shares and 2 shareholders for strategic placement shares [11][12]. - The total number of shares released includes 8,298,084 shares from strategic placements, which will no longer be restricted [14]. 4. Changes in Share Capital Structure - Following the release of restricted shares, the structure of the company's share capital will reflect the changes, with the total share capital remaining at 414,909,806 shares [14][15]. - The proportion of restricted shares will decrease significantly post-release, indicating a shift towards a higher percentage of freely tradable shares [14]. 5. Verification by Sponsors - The sponsors have confirmed that the release of restricted shares complies with all relevant regulations and shareholder commitments, ensuring the accuracy and completeness of the information disclosed [15].

证券代码：301606 证券简称：绿联科技 公告编号：2025-025 深圳市绿联科技股份有限公司 3、本次解除限售股份上市流通日期为 2025 年 7 月 28 日（星期一）（因 2025 年 7 月 26 日为非交易日，故顺延至下一交易日）。 4、本次解除股份限售的股东请勿在解限期间办理转托管、质押式回购等会 导致托管单元发生变更的业务，否则可能导致相应股东解除限售失败。 一、首次公开发行前已发行股份和上市后股份变动概况 经中国证券监督管理委员会《关于同意深圳市绿联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〔2024〕402 号）同意注册，并经深圳证券 交易所同意，公司首次公开发行人民币普通股（A 股）股票 41,500,000 股，并于 2024 年 7 月 26 日在深圳证券交易所创业板上市。首次公开发行股票前，公司总 股本为 373,409,806 股，首次公开发行股票完成后，公司总股本为 414,909,806 战略配售股份上市流通提示性公告 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。 特别提示： 1、本次上市流通的限售股份为深圳 ...

核查意见 华泰联合证券有限责任公司 关于深圳市绿联科技股份有限公司 限售股份上市流通事项的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作 为深圳市绿联科技股份有限公司（以下简称"绿联科技"或"公司"）首次公开 发行股票并在创业板上市持续督导阶段的保荐人，根据《证券发行上市保荐业务 管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司 自律监管指引第 2 号——创业板上市公司规范运作》及《深圳证券交易所上市公 司自律监管指引第 13 号——保荐业务》等有关规定，对绿联科技限售股份持有 人持有的限售股份将上市流通情况进行了认真、审慎的核查，并发表本核查意见， 具体情况如下： 一、公司首次公开发行股票并上市及之后的股本变化情况 经中国证券监督管理委员会《关于同意深圳市绿联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〔2024〕402 号）同意注册，并经深圳证券交 易所同意，公司首次公开发行人民币普通股（A 股）股票 41,500,000 股，并于 2024 年 7 月 26 日在深圳证券交易所创业板上市。首次公开发行股票前，公司总 股本为373,409,8 ...

Core Viewpoint - The charging treasure market is facing significant turmoil due to safety concerns, leading to recalls and regulatory actions, with Ugreen Technology caught in the controversy over product safety and consumer complaints [1][5]. Group 1: Market and Regulatory Actions - Major brands like Romoss and Anker have recalled large quantities of charging treasures due to issues with Ampre's faulty battery cells [1]. - The Civil Aviation Administration of China has prohibited passengers from carrying charging treasures without clear 3C certification or those that have been recalled, effective June 28 [1]. Group 2: Ugreen Technology's Response - Ugreen Technology, a leading brand in the charging treasure market, did not participate in the recall but claims all its products on sale have obtained CCC certification [2]. - The company launched a "trade-in" program for customers who purchased non-compliant charging treasures, offering up to 500 yuan in subsidies for exchanges [2]. - However, the implementation of the trade-in program faces challenges, particularly in the logistics of returning old products [2][5]. Group 3: Consumer Complaints and Quality Issues - Ugreen has received 1,436 complaints on Black Cat Complaints, primarily concerning product quality, after-sales service, and misleading advertising [1][3]. - The company has a high reliance on outsourced production, with over 70% of its revenue coming from this model, which has led to quality control issues [4]. - Ugreen has faced regulatory penalties in the past for product quality violations, indicating ongoing concerns about its manufacturing practices [4]. Group 4: Brand Image and Trust Issues - The current crisis reflects deeper challenges within Ugreen's outsourcing model, as consumer trust is eroded by quality issues and ineffective customer service [5]. - The volume of complaints highlights a collective skepticism regarding Ugreen's commitment to quality and compliance with safety standards [5].

Group 1: Stock Performance and Risks - *ST Guandao (839680) experienced a significant price increase, with a cumulative rise of over 250% in six days, reaching a peak price of 9.42 yuan and a daily increase of 29.66% on July 16 [1][3] - The stock is classified as a high-risk delisting stock due to previous financial fraud revelations, with warnings issued about the potential for mandatory delisting [3] Group 2: Regulatory Actions - On July 15, the Beijing Stock Exchange imposed self-regulatory measures on two accounts involved in trading *ST Guandao, restricting their trading activities for one month due to abnormal trading behaviors that misled other investors [3] Group 3: Charging Industry Developments - The Ministry of Industry and Information Technology is soliciting opinions on the revision of the "Mobile Power Safety Technical Specifications," which will establish stricter technical standards for mobile power sources, including power banks [8][9] - The domestic power bank market is projected to reach approximately 10.46 billion USD (about 74.7 billion yuan) by July 2025, accounting for over 30% of the global market [9] Group 4: Company Performance in Charging Sector - Anker Innovations (300866) is expected to achieve revenue of 12.667 billion yuan in its charging and energy storage business in 2024, representing a year-on-year growth of 47.23% [10] - Ugreen Technology (301606) reported that charging-related products accounted for 38.08% of its total revenue in 2024 [10] - Companies like Anker Innovations and Ugreen Technology have shown strong stock performance, with year-to-date increases exceeding 26% [11]

Core Insights - Ugreen Technology has built a billion-dollar revenue empire through consumer electronics accessories but faces significant challenges due to supply chain issues, technological hollowing, and channel imbalances [1] Group 1: Supply Chain Issues - Ugreen relies on over 75% external production, creating a fragile foundation that exposes the company to multiple risks [2] - The recent incident involving Ampre's material changes highlighted Ugreen's lack of technical oversight and inability to monitor supplier changes, leading to a crisis of trust [2] - Quality control issues are prevalent, with over 770 complaints on platforms citing problems like overheating chargers and broken data cables, indicating a reliance on low-cost materials [2] - The gross margin has declined from 49.74% in 2019 to 37% due to rising raw material costs and shipping prices, exacerbated by the reliance on external production [2] Group 2: Innovation Challenges - Ugreen's R&D investment remains low at 4.9%, limiting its ability to innovate and build a strong technological foundation [3] - The company has been criticized for its high number of utility patents without significant advancements in core technologies like chips and algorithms [3] - The pursuit of new markets has led to fragmented resources, with increased competition in both charging and storage products, further complicating Ugreen's growth strategy [3] Group 3: Strategic Recommendations - To overcome its challenges, Ugreen needs to enhance supply chain transparency and establish its own safety laboratories to mitigate risks [4] - Increasing R&D investment is crucial for creating a technological moat, particularly in advanced fields like GaN fast charging and solid-state batteries [4] - Ugreen should shift its focus from being a mere participant in e-commerce to becoming a standard setter in the industry, thereby reducing reliance on traffic-driven sales [4]