相较于海外同行，深圳硬件企业的产品迭代速度很快——半年到一年即可完成一次迭代。乐其创新是一 家为全球影像创作活动提供解决方案的公司，有上千个在售SKU（最小存货单位），这些商品要高频迭 代，更需要一个强大产业链支撑。 证券时报记者：如何平衡"用户个性化需求"与"规模化生产效率"？ 周阳：平衡核心源于三大系统的协同发力。一是需求管理系统，通过社媒专业社群、VOC（用户声 音）采集、线下展会等多渠道收集需求，再按"场景共性""可产品化程度""影像场景生态适配性"分级筛 选，避免需求碎片化造成资源浪费；二是资源管理系统，依托"壹起创Co-Create"平台搭建创新机构、创 客、供应链伙伴资源库，快速匹配筛选后的需求，联动产业协同创新中心实现产品转化；三是"快制 造"系统，凭借标准化生产流程与柔性供应链，实现日均1.6款新品研发、21天产品开发闭环，年创新产 品超500款。通过"自建工厂组装+核心零部件分布式供应"模式，兼顾个性化定制与规模化量产。 证券时报记者：深圳及大湾区的制造业配套，对企业发展起到多大作用？ 周阳：大湾区制造业配套是"快创新、快制造"的核心支撑。"一键全开"液压三脚架的落地就是典型案 例。曾有户 ...

中国—东盟创新创业大赛自2022年以来已成功举办三届，吸引了35个国家和地区的752个团队及初创企 业踊跃参与。依托中国—东盟技术转移中心平台资源，大赛推动了一批优秀项目实现从"赛场"到"市 场"、从"创意"到"产业"的实质性转化，助力中国企业扬帆出海，东盟项目落地中国。其中，中国企 业"好活科技"通过赛事落地广西，深化东盟AI业务布局；泰国"纳米涂层技术"项目借势开拓中国大湾区 市场；马来西亚"集成AI与物联网系统的现场氢能发电设备"项目入驻南宁。(完) 中国—东盟创新创业大赛是由中国科技部和东盟秘书处共同主办，中国科技部国际合作司、东盟科技创 新委员会、广西壮族自治区科学技术厅(中国—东盟技术转移中心)具体承办的国际性赛事，旨在深化中 国与东盟国家间的科技创新交流合作，提升区域创新能力。 本届大赛以"创新合作、成就梦想"为主题，聚焦AI技术创新应用，涵盖工业、农业、医疗、金融、教 育、物流、文化等场景。参赛队伍分为团队组和企业组，各支队伍核心成员3人至6人，中国或东盟国籍 的成员合计占比应不少于50%(含50%)。报名时间从即日起至3月31日。决赛将于6月上旬在东盟国家举 行。 【东盟专线】第四届中国—东 ...

Core Viewpoint - Hangzhou Gaote Electronics Co., Ltd. has received approval for its initial public offering (IPO) and listing on the ChiNext board, indicating strong market confidence in the company's growth potential in the energy storage sector [1] Group 1: Company Overview - Gaote Electronics is a national high-tech enterprise focused on the research, production, and sales of Battery Management Systems (BMS) for new energy storage [2] - The company has shown steady growth in revenue and net profit from 2022 to 2025, with revenues of 346 million yuan, 779 million yuan, 919 million yuan, and 507 million yuan, and net profits of 53.75 million yuan, 88.23 million yuan, 98.42 million yuan, and 51.42 million yuan respectively [2] Group 2: R&D Investment and Competitive Edge - The company has consistently increased its R&D investment, with expenditures of 23.89 million yuan, 38.64 million yuan, 63.78 million yuan, and 32.28 million yuan from 2022 to 2025, representing 6.91%, 4.96%, 6.94%, and 6.36% of revenue respectively [3] - R&D efforts focus on enhancing the safety, stability, and operational efficiency of BMS, supporting product performance improvements and business sustainability [3] Group 3: Industry Trends - The new energy storage industry is experiencing rapid growth, driven by increasing demand for energy storage systems that enhance power system regulation and support renewable energy integration [4] - BMS plays a critical role in energy storage systems, acting as the "nervous system" for data collection, state diagnosis, safety management, and proactive maintenance [4] Group 4: Future Growth and Investment Plans - The IPO proceeds will be used for the construction of an intelligent manufacturing center for BMS and to supplement working capital, with a total investment of approximately 674 million yuan [6] - The new manufacturing center will enhance production capacity and automation, allowing the company to better meet growing customer demand and optimize cost structures [6][7] - The investment is expected to strengthen Gaote Electronics' competitive position in the new energy storage BMS market and support its long-term development [7]

Core Viewpoint - Gaote Electronics has successfully passed the IPO meeting for the ChiNext board, aiming to raise 850 million yuan for its battery management system (BMS) products in the new energy sector [1] Group 1: Company Overview - Established in 1998, Gaote Electronics is a national high-tech enterprise and a "specialized and innovative" small giant, focusing on innovative technology [1] - The company aims to become a leading global supplier of safety and value enhancement solutions for new energy storage systems [1] - Gaote Electronics has maintained a leading position in the shipment volume of BMS products in the large-scale energy storage sector for three consecutive years [1] Group 2: Product and Market Position - The main products include energy storage BMS modules and related products, with applications in various fields such as large high-voltage energy storage power stations, commercial energy storage, and backup power systems [1][2] - The company is recognized as the top BMS manufacturer in China for 2023, according to the CESA's white paper on the new energy storage industry [2] - Key clients include major companies such as China Southern Power Grid, China Petroleum, and CATL [2] Group 3: Financial Performance - Revenue for the years 2022, 2023, and 2024 is reported as approximately 346 million yuan, 779 million yuan, and 919 million yuan respectively, with a net profit of 53.75 million yuan, 88.23 million yuan, and 98.42 million yuan for the same years [4] - As of June 2025, total assets are projected to reach approximately 137.4 billion yuan, with a debt-to-asset ratio of 38.02% [6] - The company has maintained a research and development expense ratio of around 6.36% to 6.94% of its revenue over the past few years [6]

Group 1 - The core business of Guangdong Hengying Energy Technology Co., Ltd. (referred to as "Hengying Energy") is the research, production, and sales of core equipment and overall solutions for lithium battery post-processing systems [1] - Hengying Energy's IPO has entered the inquiry stage on the Shenzhen Stock Exchange, with the application accepted on December 28, 2025 [1] - The company aims to raise approximately 839 million yuan, which will be used for the intelligent manufacturing base project for lithium battery equipment, the construction of a research and development center, and to supplement working capital [1]

Core Viewpoint - Shenzhen Hongfucheng New Materials Co., Ltd. has entered the inquiry stage for its IPO on the ChiNext board, aiming to raise approximately 1.22 billion yuan for various projects and working capital [1] Group 1: Company Overview - Hongfucheng is a national-level specialized and innovative "little giant" enterprise focused on the research and industrialization of advanced electronic functional materials and devices, including thermal management, electromagnetic shielding, and wave-absorbing materials [1] - The company's main products consist of thermal interface materials, electromagnetic shielding, and wave-absorbing materials [1] Group 2: IPO Details - The IPO application was accepted on December 26, 2025, and is currently in the inquiry phase [1] - The funds raised from the IPO will be allocated to the construction of an advanced electronic functional materials base, a research and development center, marketing service network, headquarters construction, and to supplement working capital and technology reserve funds [1]

Core Insights - The A-share market experienced a significant adjustment with a trading volume exceeding 3.6 trillion yuan, marking a new high [1][8] - The AI sector showed a mixed performance, with AI applications like GEO rising while the computing power sector, particularly light modules and IDC, faced declines [1][8] AI Applications - AI applications continue to gain market recognition, with a strong focus on commercial validation and growth potential [10][11] - Recent developments include financing rounds for overseas AI companies and the implementation of domestic policies promoting "AI + manufacturing," which are expected to drive new growth in AI applications [11] Computing Power Sector - The focus is shifting towards low-position IDC opportunities as the computing power sector undergoes adjustments [10][11] - Major domestic companies like ByteDance are increasing capital expenditures, leading to a revival in data center bidding activities, indicating a potential investment window for the IDC sector [11][4] ETF Insights - The ChiNext AI ETF (159363) has been included in the Stock Connect program, which is expected to enhance liquidity and trading activity [10][12] - As of January 12, the ChiNext AI ETF had a total size of 4.731 billion yuan, with an average daily trading volume exceeding 700 million yuan over the past six months, ranking first among similar ETFs [12] Investment Opportunities - The ChiNext AI ETF offers a dual exposure to both computing power and AI applications, making it a strategic investment tool as AI technology commercializes [5][12] - Approximately 60% of the ETF's holdings are allocated to computing power (light modules + IDC), while 40% are focused on AI applications, representing a balanced approach to investment in the AI sector [12]

本次冲击上市，理奇智能拟募集资金约10.08亿元，扣除发行费用后，拟有序投资于物料自动化处理设 备智能制造生产基地项目、研发中心项目、补充营运资金。 北京商报讯（记者 马换换 李佳雪）1月13日晚间，深交所官网显示，无锡理奇智能装备股份有限公司 （以下简称"理奇智能"）创业板IPO将于1月20日上会迎考。 据了解，理奇智能专注于物料自动配料、分散乳化、混合搅拌等物料自动化处理领域，提供专业的物料 智能处理系统整体解决方案。公司创业板IPO于2025年6月26日获得受理，并于当年7月11日进入问询阶 段。 ...

Group 1 - The ChiNext index fell by 2.0%, the ChiNext Mid 200 index decreased by 2.2%, and the ChiNext Growth index dropped by 2.4% [1] - China Securities believes that the A-share market is currently in a "market continuation" phase, with institutional benefits expected from mid-2026, alongside a recovery in price levels, domestic demand, and profit growth driven by industrial innovation [1] - The current A-share market is experiencing a spring market rally driven by a combination of liquidity and policy expectations, which is anticipated to be a significant investment window for the year [1] Group 2 - The E Fund ChiNext ETF tracks the ChiNext index, which consists of 100 stocks with large market capitalization and good liquidity, with a high proportion of emerging industries [3] - The index has seen a decline of 2.0% today, with a rolling price-to-earnings ratio of 43.4 times, compared to 42.5 times since its inception [3]

Core Viewpoint - Zhuhai Saiwei Electronic Materials Co., Ltd. has withdrawn its IPO application, leading to the termination of its listing review by the Shenzhen Stock Exchange [1] Company Overview - Zhuhai Saiwei specializes in the R&D, production, and sales of lithium-ion battery electrolytes, which are critical materials used in electric vehicles, energy storage, and consumer electronics [1] - The company has established stable partnerships with high-quality clients such as CATL, EVE Energy, Aulton, and others [1] - Founded in 2007, Zhuhai Saiwei is one of the early developers of electrolyte materials in China's lithium battery sector and has received various accolades [1] Industry Analysis - The lithium-ion battery electrolyte industry in China has not yet formed a monopolistic competition structure, with a noticeable concentration among leading companies [2] - In 2022, the top five companies in China's lithium-ion battery electrolyte market accounted for less than 50% of the total shipment volume, with Tianqi Materials leading at 35.8% [2] - In the first half of 2023, the market share of the top five companies remained below 50%, with Tianqi Materials at 36.0% and Zhuhai Saiwei ranked fifth [2] Financial Performance - Zhuhai Saiwei's revenue from 2021 to the first half of 2023 was as follows: 1.266 billion yuan in 2021, 1.835 billion yuan in 2022, and 593 million yuan in the first half of 2023, with net profits of 56 million yuan, 210 million yuan, and 58 million yuan respectively [2] - The company has shown a high customer concentration, with the top five customers accounting for 56.21%, 60.34%, and 66.14% of total revenue from 2020 to 2022 [3] - Accounts receivable have been increasing, with the proportion of accounts receivable to total current assets at 57.44%, 32.66%, and 25.51% over the same period [3] IPO Journey - In September 2022, Zhuhai Saiwei's IPO was accepted, with plans to raise 1 billion yuan for various projects [3] - The IPO was approved in September 2023, but the company did not submit a registration application, leading to the withdrawal of its listing application after nearly two and a half years [3]