凤凰网财经讯 12月18日，三大指数集体低开，沪指低开0.34%，深成指低开0.85%，创业板指低开 1.17%，CPO、离境退税、玻纤等板块指数跌幅居前。 | | | | | | 沪深京重要指数 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | *● | 最新 | 米幅% | | 涨跌 涨跌家数 | | | 现手 金额 | | 上证指数 | | 3857.26 | -0.34 | -13.02 | 367/1669 | -0.07 | 470万 | 470万 70.90亿 | | 深证成指 | | 13112.61 | | -0.85 -111.90 | 353/2311 | -0.35 | 6667 | 666万 110.48亿 | | 北证50 | | 1430.92 | -0.56 | -8.10 | 68/187 | -0.07 | 9.07万 | 9.07万 1.96亿 | | 创业板指 | | 3138.66 | -1.17 | -37.25 | 146/1168 | -0.28 | 140万 | 140 ...

Core Insights - The 13th "Dongsheng Cup" International Entrepreneurship Competition was held in Zhongguancun, attracting 2061 innovative projects, a 22.68% increase from last year [1] - Mingzhi Technology (Beijing) Co., Ltd. won the grand prize, receiving a cash reward of 1 million yuan, office space support of 500 square meters, and an empowerment package [1] - The competition's structure has been upgraded to include "4 seasonal competitions + 1 annual competition," aimed at globally sourcing innovative projects throughout the year [1] Group 1 - The event was guided by multiple governmental bodies, including the Beijing Human Resources and Social Security Bureau and the Zhongguancun Science City Management Committee [1] - Since its inception in 2013, the "Dongsheng Cup" has attracted 18,460 projects from over 100 countries and cities, including more than 3,000 overseas projects [2] - The competition has incubated over 3,500 projects and provided more than 30,000 instances of scientific and technological services [2]

Core Viewpoint - Jiangsu Zhanchip Semiconductor Technology Co., Ltd. has received acceptance for its IPO on the Shenzhen Stock Exchange's ChiNext board, aiming to raise 889.5 million yuan [1] Company Overview - Jiangsu Zhanchip focuses on the research, design, testing, and sales of high-reliability analog chips and micro-module products, primarily power management chips, including DC/DC converters, linear voltage regulators (LDO), and load switches [1] - The company is expanding its product line to include signal chain chips, having developed various products such as current detection chips, voltage reference chips, comparators, operational amplifiers, and timing chips [1] - The company's products are recognized by major state-owned military enterprises and are widely used in various equipment platforms [1] Financial Performance - The company's main business revenue for the first half of 2025 is 340.16 million yuan, with a breakdown as follows: - Integrated circuits: 187.44 million yuan (55.10%) - Micro-modules: 118.74 million yuan (34.91%) - Discrete devices: 19.92 million yuan (5.86%) - Others: 14.06 million yuan (4.13%) [2] - Revenue for the years 2022 to 2025 shows fluctuations, with 2022 at 366.76 million yuan, 2023 at 466.00 million yuan, 2024 at 413.00 million yuan, and the first half of 2025 at 340.16 million yuan [3][4] Investment Plans - The company plans to invest the raised funds in several key projects, including: - R&D and industrialization of high-reliability power management and signal chain chips: 449.73 million yuan total, 424.85 million yuan from raised funds - Headquarters and R&D center construction: 223.87 million yuan total, 183.27 million yuan from raised funds - Testing center construction: 177.21 million yuan total, 161.39 million yuan from raised funds - Working capital: 120 million yuan [3] Market Position - The competitive landscape for military power management chip companies includes Jiangsu Zhanchip, Beijing Qixing Huachuang, and several others, but there is currently no publicly available market share data for military electronic integrated circuit manufacturers [2]

苏州元相微科技有限责任公司研发的量子波电子束晶圆检测设备，可实现对晶圆表面缺陷的高速、 高分辨率检测。与传统技术不同，该技术具有大视场、高通量成像的特点，能在不损伤样品的前提下进 行测试。苏州易缆微科技有限公司在全球首发的硅光异质集成薄膜铌酸锂单波400Gbps光芯片，目前实 现小批量生产，今后将在新一代人工智能算力中心落地应用，助力攻克数据中心高速光电传输"卡脖 子"难题。 今年江苏赛区赛事，即第十三届"创业江苏"科技创业大赛，由省科技厅联合9家单位举办，吸引 5905个创业团队和企业报名。117家江苏企业脱颖而出，走上全国赛的赛场。其中，16家获奖企业在靶 向RNA创新药物、硫系全固态电池、高通量电子束晶圆检测、质子膜电解水制氢等前沿产品和技术上 发力，共拥有302件专利；企业负责人平均年龄44岁、最小年龄28岁，博士学历占比70%。 13年来，6万多个创业团队和企业参加"创业江苏"科技创业大赛。参赛之后，4000多个团队落地江 苏发展；近15%的获奖企业上市或挂牌；近40%的获奖企业成长为独角兽企业、瞪羚企业。"创业江 苏"大赛还带动省内外银行、创投机构为参赛企业提供贷款、融资累计900亿元。 12月1 ...

Core Insights - The article highlights the significant growth of cross-border e-commerce in Hainan, driven by the establishment of the Hainan Free Trade Port and supportive government policies [1][2][3] Group 1: Policy Impact - The establishment of the Hainan Free Trade Port has led to a favorable environment for local entrepreneurs, enabling them to expand their businesses beyond the island [1] - Key policies such as zero tariffs and low tax rates have significantly reduced operational costs for e-commerce companies, allowing for increased profitability [2][3] - The approval of cross-border e-commerce comprehensive pilot zones in Haikou and Sanya has facilitated smoother customs processes and logistics [1][2] Group 2: Business Expansion - Companies are leveraging the advantages of the free trade port to set up overseas warehouses, which has improved their profit margins by reducing logistics costs [2] - Local entrepreneurs are now collaborating with Southeast Asian influencers to promote Hainan's unique products, indicating a shift towards a more integrated marketing approach [2][3] - The government has established a 100 million yuan industry guidance fund to support local e-commerce businesses, addressing financing challenges faced by small and medium enterprises [3] Group 3: Future Outlook - The article suggests that the Hainan Free Trade Port's policies will continue to evolve, providing diverse pathways for cross-border e-commerce growth [3] - There is optimism among local entrepreneurs about the potential to sell Hainan's specialty products globally while also bringing international goods to Chinese consumers [3]

刘昼 "科技投资是达晨的主战场，支持专精特新毫不动摇。一直以来，达晨75%的投资均投向以智能制造、 信息技术、新能源、新材料、军工、生物医药为代表的硬科技领域。达晨近三期基金投向'硬科技'领域 比例高达85%。"刘昼介绍说。 刘昼认为，创业投资行业还将肩负"建设现代化产业体系，巩固壮大实体经济根基"与"发展产投融合模 式，促进区域协调发展"两大新使命。 同时，刘昼认为，我国创业投资行业正迎来以下新变化。 首先，创业投资行业经历深度调整，市场步入质量提升阶段。 其次，市场回暖，信心回归。2025年前三季度，我国股权投资市场共有3501只基金完成募集，同比上升 18.3%；募资金额为11614.35亿元，同比上升8.0%。同期，我国股权投资市场共完成8295起投资案例， 同比上升19.8%；披露投资金额约5407.30亿元，同比上升9.0%。 ◎记者 夏子航 "创业投资和股权投资作为科技强国的重要资本和耐心资本，已成为我国推进现代化产业体系建设及发 展新质生产力的一揽子工具箱中的重要组成部分。"12月16日，在2025上证多层次资本市场高质量发展 大会上，达晨财智创始合伙人、董事长刘昼在以《"十五五"规划与创业投 ...

穆荣平 ◎记者 刘一枫 邹传科 12月16日，在2025南通投资大会暨上证多层次资本市场高质量发展大会上，中国科学技术大学科技商学 院研究员、中国高技术产业发展促进会名誉理事长穆荣平表示，创新驱动数字转型是大势所趋，人工智 能等数字技术赋能创新创业发展，秉持求同存异、平等合作、互惠共赢的社会价值观成就未来。 "从21世纪初期企业创新能力相对薄弱，到如今中国企业在全球研发投入前列中占据重要地位，近年 来，以京津冀、长三角、粤港澳大湾区等国际科技创新中心为标志的国家及区域创新枢纽引擎，为各地 创新发展带来重大机遇。"穆荣平表示，关键在于找准自身在国家战略布局中的定位，融入国家创新网 络。 "现代化强国建设需要跨学科、跨领域复合型人才，复合型人才稀缺是当前面临的重要挑战。"穆荣平 说，未来的创新创业、未来产业和战略性新兴产业发展，每一个环节都需要不同知识背景人才的紧密协 作。提升投资者、创业者、科学家等多元主体之间的对话与理解能力，对于推动科技与产业创新深度融 合至关重要，"创新是一个链条，任何一个环节的短板都可能导致整体效率低下甚至归零"。 从吸引人才转向成就英才，穆荣平认为，无论是推动科技创新还是建设多层次资本 ...

Core Viewpoint - Shenzhen Tian Su Measurement Testing Co., Ltd. has received approval for its initial public offering (IPO) of A-shares on the ChiNext board, with a total issuance of 16,304,348 shares at a price of RMB 36.80 per share [1][2]. Group 1: Issuance Details - The IPO will be conducted through a combination of strategic placement, offline issuance to qualified investors, and online issuance to the public [1]. - The initial strategic placement was set at 2,445,651 shares, accounting for 15% of the total issuance, with the final strategic placement adjusted to 1,630,434 shares, representing 10% of the total [2][3]. - The final allocation after the strategic placement resulted in 7,581,414 shares for offline issuance and 7,092,500 shares for online issuance, with a final online subscription rate of 0.0144% [3]. Group 2: Subscription and Payment - The subscription and payment for the new shares concluded on December 16, 2025, with strategic placement investors fulfilling their payment obligations [4][5]. - The total number of shares subscribed by offline investors was 7,580,500, with a total payment amounting to RMB 278,962,400 [10]. Group 3: Underwriting and Fees - The total issuance costs amounted to RMB 75.3686 million, including underwriting fees of RMB 60 million and other associated costs [12]. - The underwriting firm, China Merchants Securities, will underwrite all shares that were not subscribed by investors, totaling 52,370 shares [9][11].

Group 1 - The core viewpoint of the report is that Vietnam's innovation and startup ecosystem has entered a deep development and strong integration phase after over 10 years of formation and growth, with more than 4,000 startups and 2 unicorns [1] - The report highlights the government's initiatives at the central level, including multiple cooperation plans and support policies, such as the issuance of government decrees to encourage private economic development and establish a national innovation and entrepreneurship incentive mechanism [1] - The report identifies eight potential startup sectors in Vietnam, including climate technology, creative economy, aging technology, educational technology, plastic industry innovation, electric vehicles, women-led enterprises, and the overseas Vietnamese entrepreneur community [1] Group 2 - Vietnam aims to add 3 to 4 unicorns by 2030, focusing on 11 strategic technology areas, with artificial intelligence, semiconductors, and green technology being the top three priority sectors [2] - A key highlight of the report is the establishment of a national venture capital fund plan, initially utilizing approximately $20 million in state capital, with a target scale of at least $100 million, while encouraging local governments to establish their own venture capital funds [2]

Core Viewpoint - Suzhou Green Control Transmission Technology Co., Ltd. (referred to as "Green Control Transmission") is attempting to go public on the ChiNext board after withdrawing its previous IPO application for the Sci-Tech Innovation Board over two years ago, with its prospectus recently accepted by the Shenzhen Stock Exchange [1][3] Group 1: IPO Details - Green Control Transmission aims to raise approximately 1.58 billion yuan, with net proceeds intended for a project to produce 100,000 sets of electric drive systems for new energy commercial vehicles and the construction of a research and development center [3] - This is not the first attempt by Green Control Transmission to list on the A-share market; it previously sought to list on the Sci-Tech Innovation Board but withdrew its application in March 2023 after entering the inquiry stage in January [3][4] - The amount targeted for fundraising has increased from 1.072 billion yuan in the previous application to 1.58 billion yuan in the current one, with some investment projects being modified [3] Group 2: Financial Performance - Green Control Transmission has shown steady growth in performance, achieving a turnaround in net profit last year. Revenue figures for 2022, 2023, and projected for 2024 are approximately 712 million yuan, 770 million yuan, and 1.328 billion yuan, respectively, with corresponding net profits of approximately -99.43 million yuan, -12.33 million yuan, and 48.04 million yuan [4] - For the first half of this year, the company reported revenue of approximately 1.219 billion yuan and a net profit of about 68.30 million yuan [4] Group 3: Employee Growth - The number of employees at Green Control Transmission has doubled in the first half of this year, increasing from 643 at the end of last year to 1,397 [1][6] - The distribution of employees by role shows that manufacturing positions account for approximately 66.64%, with management, research and development, and sales positions making up 8.38%, 14.82%, and 10.16%, respectively [6] Group 4: Shareholding Structure - As of the signing date of the prospectus, the controlling shareholder and actual controller of Green Control Transmission is Li Lei, who directly holds 32.23% of the company's total shares and indirectly controls an additional 11.41% through Wujiang Qianqian [7] - After the current issuance, the shareholding ratio of SANY Heavy Industry, a significant customer of Green Control Transmission, will be diluted from 1.89% to 1.51% [6][7]