Core Insights - The article presents a ranking of the most profitable new stocks since the implementation of the comprehensive irrigation system on February 17, 2023, highlighting their first-day performance [2][3]. Summary by Sections Stock Performance - The top-performing new stock is C沐曦-U, which had an issuance price of 104.66 and closed at 829.90, achieving a closing increase of 692.95% and a peak increase of 755.15% [3]. - The second-ranked stock, 暨尔线程-U, was issued at 114.28 and closed at 600.50, with a closing increase of 425.46% and a peak increase of 502.03% [3]. - 长联科技, ranked third, had an issuance price of 21.12 and closed at 381.00, resulting in a closing increase of 1,703.98% and a peak increase of 1,831.82% [3][4]. - Other notable mentions include 红四方, 诺瓦星云, and 中国瑞林, which also demonstrated significant first-day performance with closing increases ranging from 202.62% to 1,917.42% [4]. Market Trends - The article indicates a trend of substantial returns for new stocks, particularly in the 科创板 and 创业板 segments, suggesting a robust market environment for new listings [2][3][4].

Core Insights - The article discusses the performance of newly listed stocks since February 17, 2023, highlighting the significant price increases on their first trading days [3][4]. Group 1: Stock Performance - The top-performing new stock is C沐園-U, which had an initial price of 104.66 and closed at 829.90, marking a closing increase of 692.95% [4]. - 摩尔线程-U follows with an initial price of 114.28 and a closing price of 600.50, resulting in a 425.46% increase [4]. - 长联科技, with an initial price of 21.12, closed at 381.00, reflecting a remarkable increase of 1,703.98% [4]. - 红四方 saw its stock rise from an initial price of 7.98 to a closing price of 160.99, achieving a closing increase of 1,917.42% [4]. - 中国瑞林's stock increased from 20.52 to 99.90, resulting in a closing increase of 386.84% [5]. Group 2: Trading Volume and Price Fluctuations - The highest intraday price increase was observed in 托普云农, which had a maximum price of 170.00, reflecting an intraday increase of 1,072.41% from its initial price of 14.50 [6]. - The stock with the highest trading volume was C沐園-U, with 395,170 shares traded on its first day [4]. - The stock with the second-highest trading volume was 摩尔线程-U, with 286,860 shares traded [4].

格隆汇12月11日丨苏州天脉(301626.SZ)公布，公司于2025年12月11日收到深圳证券交易所（以下简 称"深交所"）出具的《关于受理苏州天脉导热科技股份有限公司向不特定对象发行可转换公司债券申请 文件的通知》（深证上审〔2025〕254号）。深交所对公司报送的向不特定对象发行可转换公司债券的 申请文件进行了核对，认为申请文件齐备，决定予以受理。 ...

苏州天脉公告，公司于2025年12月11日收到深圳证券交易所出具的《关于受理苏州天脉导热科技股份有 限公司向不特定对象发行可转换公司债券申请文件的通知》。深交所对公司报送的向不特定对象发行可 转换公司债券的申请文件进行了核对，认为申请文件齐备，决定予以受理。公司本次向不特定对象发行 可转换公司债券事项尚需通过深交所审核，并获得中国证券监督管理委员会作出同意注册的决定后方可 实施。 ...

Group 1: Market Overview - The global vapor chamber market is projected to reach USD 1.24 billion in 2024, representing a growth of 56.57% compared to 2022, and is expected to reach USD 3.59 billion by 2032, with a CAGR of 14.21% from 2024 to 2032 [1] - The demand for vapor chambers is increasing due to the rising cooling needs in emerging fields such as smartphones, electric vehicles, and 5G base stations, alongside advancements in manufacturing technology [1] Group 2: Company Developments - The company plans to invest in two new projects to expand its high-end vapor chamber production capacity, including a project in Suzhou with a total investment of CNY 1.7 billion, which will add an annual production capacity of 30 million units [1] - Another project in Suzhou will utilize existing facilities with a planned investment of CNY 600 million, aiming to add an annual production capacity of 18 million units [1] Group 3: Strategic Partnerships - The company has formed a joint venture with Jianzhun Electric to establish Tianmai Jianzhun Cooling Technology (Suzhou) Co., Ltd., focusing on the development, production, and sales of micro fans for consumer electronics [2] - The joint venture will leverage both companies' strengths in thermal management technology, with the company holding a 65% stake and Jianzhun Electric holding 35% [2] Group 4: Financial Projections - The company is expected to achieve revenues of CNY 1.13 billion, CNY 3 billion, and CNY 5 billion in 2025, 2026, and 2027 respectively, with net profits of CNY 180 million, CNY 500 million, and CNY 840 million for the same years [3]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the benchmark index within the next six months [8][14]. Core Insights - The company is focusing on the high-end uniform temperature plate market, with plans to invest in the construction of production capacity for 30 million and 18 million PCS of high-end uniform temperature plates. The global market for uniform temperature plates is projected to grow from $1.24 billion in 2024 to $3.59 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14.21% [3][4]. - The company is currently in the sample testing phase with North American clients, and it has made significant progress in its development of uniform temperature plate technology since 2017 [3]. - The company has established a joint venture with Jianzhun Motor to expand its product offerings in ultra-thin micro fans, which are essential for active cooling solutions in smartphones and other consumer electronics [4][7]. Financial Projections - Revenue projections for the company are as follows: 2025 expected revenue of 1.13 billion yuan, 2026 expected revenue of 3.01 billion yuan, and 2027 expected revenue of 5.01 billion yuan. Corresponding net profits are projected to be 180 million yuan, 500 million yuan, and 840 million yuan for the same years [8][10]. - The report outlines a significant growth trajectory, with revenue growth rates expected to reach 165.44% in 2026 and 66.52% in 2027 [10][13]. Market Position - The company is recognized as one of the few high-tech enterprises capable of mass production of both mid-to-high-end thermal materials and high-performance thermal components, such as heat pipes and uniform temperature plates. Its products are widely used in smartphones, laptops, automotive electronics, and security monitoring [7][8].

Core Viewpoint - The establishment of a joint venture, Tianmai Jianzhun, between Suzhou Tianmai and Jianzhun Electric focuses on the research and production of cooling products, leveraging both companies' technological and resource advantages to potentially enter NVIDIA's liquid cooling supply chain [2]. Group 1: Joint Venture Details - The joint venture, Tianmai Jianzhun, was established on November 14, 2025, with a registered capital of 13 million yuan, where Suzhou Tianmai holds a 65% stake and Jianzhun Electric holds a 35% stake [2]. - Tianmai Jianzhun will primarily engage in the research, production, and sales of micro fans, targeting applications in consumer electronics such as smartphones and tablets [2]. Group 2: Company Backgrounds - Suzhou Tianmai is recognized as a high-tech enterprise with capabilities in mass production of high-performance thermal management components, including mid-to-high-end thermal materials, heat pipes, and uniform temperature plates [2]. - Jianzhun Electric, established in 1980, specializes in energy-saving motor technology and has developed innovative products such as the world's first MagLev magnetic levitation motor fan and the smallest millimeter-scale micro fan [2]. Group 3: Market Applications - The products from both companies are widely used in various sectors, including smartphones, laptops, automotive electronics, and security monitoring [2]. - The collaboration aims to integrate resources and strengths to position Tianmai Jianzhun as a leading thermal management technology provider in the industry [2].

资料显示，苏州天脉导热科技股份有限公司位于苏州市吴中区甪直镇汇凯路68号，成立日期2007年7月 25日，上市日期2024年10月24日，公司主营业务涉及导热散热材料及元器件的研发、生产及销售。主营 业务收入构成为：热管理材料及器件98.37%，其他1.63%。 苏州天脉所属申万行业为：电子-消费电子-消费电子零部件及组装。所属概念板块包括：宁德时代概 念、高派息、融资融券、中盘、次新股等。 截至9月30日，苏州天脉股东户数1.08万，较上期增加6.39%；人均流通股2407股，较上期减少6.00%。 2025年1月-9月，苏州天脉实现营业收入8.18亿元，同比增长18.42%；归母净利润1.43亿元，同比增长 1.54%。 11月20日，苏州天脉盘中下跌2.07%，截至13:16，报165.99元/股，成交1.41亿元，换手率1.59%，总市 值192.02亿元。 资金流向方面，主力资金净流出166.27万元，特大单买入1596.87万元，占比11.31%，卖出1637.93万 元，占比11.60%；大单买入2709.65万元，占比19.19%，卖出2834.85万元，占比20.08%。 苏州天脉今年以来股 ...

证券代码：301626 证券简称：苏州天脉 公告编号：2025-054 苏州天脉导热科技股份有限公司 关于变更保荐机构后重新签订募集资金三方及四方监管协 议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 苏州天脉导热科技股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开第三届董事会第十四次会议，审议通过了《关于公司向不特定对象发行可 转换公司债券方案的议案》等相关议案（以下简称"本次发行"）。公司聘请了 国泰海通证券股份有限公司（以下简称"国泰海通"）担任公司本次发行的保荐 机构，根据《证券发行上市保荐业务管理办法》的相关规定，国泰海通作为公司 新聘请的保荐机构，将完成原保荐机构国投证券股份有限公司未完成的持续督导 工作。具体内容详见公司于 2025 年 10 月 29 日在巨潮资讯网（www.cninfo.com.cn） 披露的《关于变更保荐机构及保荐代表人的公告》（公告编号：2025-044）。 一、募集资金三方及四方监管协议签署情况 鉴于公司保荐机构已更换，为保证募集资金督导工作的正常进行，保护投资 者权益，根据《深圳证券交 ...

Core Insights - Suzhou Tianmai's stock increased by 1.42% on November 17, with a trading volume of 443 million yuan, indicating positive market sentiment [1] - The company reported a financing net purchase of 27.68 million yuan on the same day, reflecting strong investor interest [1] - As of November 17, the total financing and securities lending balance for Suzhou Tianmai reached 1.038 billion yuan, which is at a high level compared to the past year [1] Financing Summary - On November 17, Suzhou Tianmai had a financing purchase amount of 88.69 million yuan, with a current financing balance of 1.037 billion yuan, accounting for 10.93% of its market capitalization [1] - The financing balance is above the 90th percentile level for the past year, indicating a high level of leverage [1] - In terms of securities lending, the company had a securities lending balance of 558,900 yuan, with a remaining quantity of 3,100 shares, also at a high level compared to the past year [1] Financial Performance - For the period from January to September 2025, Suzhou Tianmai achieved an operating income of 818 million yuan, representing a year-on-year growth of 18.42% [2] - The net profit attributable to the parent company was 143 million yuan, with a year-on-year increase of 1.54% [2] - As of September 30, 2025, the number of shareholders increased by 6.39% to 10,800, while the average circulating shares per person decreased by 6.00% to 2,407 shares [2] Dividend and Shareholding - Since its A-share listing, Suzhou Tianmai has distributed a total of 64.78 million yuan in dividends [3] - As of September 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 312,600 shares, a decrease of 260,400 shares from the previous period [3] - The Southern CSI 1000 ETF has exited the list of the top ten circulating shareholders [3]