| 证券代码：301297 | 证券简称：富乐德 | 公告编号：2026-008 | | --- | --- | --- | | 债券代码：124025 | 债券简称：富乐定转 | | 安徽富乐德科技发展股份有限公司 1 二、募集资金投资项目情况 关于部分募集资金投资项目延期的公告 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、误导性陈述或重大遗漏。 安徽富乐德科技发展股份有限公司（以下简称"公司"）于2026年01月28 日召开第二届董事会第二十五次会议，审议通过了《关于部分募集资金投资项目 延期的议案》，同意将公司首次公开发行股票的募投项目 "陶瓷熔射及研发中 心项目" 、"研发及分析检测中心扩建项目" 达到预计可使用状态日期延期至 2026年12月31日。本议案在董事会的审批权限内，无需提交公司股东大会审议， 具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意安徽富乐德科技发展股份有限公司首 次公开发行股票注册的批复》（证监许可[2022]2252 号）同意，公司获准首次 公开发行人民币普通股（A 股）股票84,600,000股，每股发行价格为人民币8. ...

东方证券股份有限公司 国泰海通证券股份有限公司 关于安徽富乐德科技发展股份有限公司 使用募集资金置换预先投入募投项目自筹资金及已支付发行 费用的核查意见 东方证券股份有限公司、国泰海通证券股份有限公司（以下简称 "独立财务顾 问"）作为安徽富乐德科技发展股份有限公司（以下简称"富乐德"或"公司"）发 行股份、可转换公司债券购买资产并募集配套资金暨关联交易的独立财务顾问，根 据《上市公司重大资产重组管理办法》《深圳证券交易所创业板股票上市规则》《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 板上市公司规范运作》等有关规定，对公司使用募集资金置换预先投入募投项目自 筹资金及已支付发行费用的事项进行了核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意安徽富乐德科技发展股份有限公司发行 股份和可转换公司债券购买资产并募集配套资金注册的批复》（证监许可〔2025〕 1325 号），公司获准向无锡金筹投资管理有限公司-金筹研究精选一期私募证券投资 基金、华富瑞兴投资管理有限公司、鲁花道生（北京）企业管理发展有限公司、台 州城投沣收一号股权投资合伙企业（有限 ...

Core Insights - The company reported a third-quarter revenue of 211 million, representing a year-on-year growth of 14.38% [1] - The most remarkable figure is the new orders, which surged by 939.58%, reaching a historical high of 13.5489 million [5] - Northbound capital increased its holdings by 28%, indicating strong investor interest in the company [3][12] Company Overview - The company specializes in providing precision cleaning services for semiconductor manufacturing equipment, which is crucial for ensuring the cleanliness required in chip production [4] - It has developed and mass-produced cleaning processes for 14nm semiconductor technology and has a mature 7nm process in reserve [8][11] Financial Performance - The company's gross profit margin reached 30.03%, which is considered high in the manufacturing service sector [7] - The net profit margin stands at 12.00%, reflecting a significant improvement [8] - The accounts receivable turnover period is 58 days, which has accelerated by 35.72% year-on-year, indicating strong cash flow management [9] Market Position and Trends - The surge in orders suggests that downstream semiconductor manufacturers are expanding their production capacity, benefiting the company as a key service provider in the industry [7] - The demand for cleaning services in the semiconductor industry is expected to grow, particularly in advanced process technologies [10] - The company is well-positioned to capitalize on the ongoing domestic semiconductor industry's rapid development [10][11] Investment Insights - The increase in Northbound capital holdings reflects professional investors' recognition of the company's value, particularly in the context of domestic semiconductor localization [12] - The company's strong technical barriers, solid customer relationships, and healthy financial status make it an attractive investment opportunity [12]

Core Insights - The article emphasizes that a company's growth capability, determined by its foresight, adaptability to technological changes, market expansion execution, and competitive landscape shaping, is crucial for future success [1][2] - The latest competitiveness rating data from JIAN Jin Xin highlights the top 100 companies in the A-share market based on their development capabilities, showcasing their strong potential in R&D investment, market expansion, and strategic foresight [1][2] Group 1: Development Capability Assessment - The assessment of "development capability" focuses on several key factors: R&D investment ratio, contribution from new products/markets, patent quantity and quality, strategic foresight, and growth stability [2] - Higher scores indicate stronger growth momentum and greater long-term value potential within their respective sectors [3] Group 2: Key Sectors and Companies - The list is heavily concentrated in sectors such as technology, high-end manufacturing, pharmaceuticals, new energy, and military industry, which are seen as "hardcore growth tracks" [3] - Notable companies in the semiconductor and AI chip sector include Cambricon, Jingjia Micro, and others, which are pivotal for domestic substitution and China's technological self-reliance [3][4] - In the biopharmaceutical sector, companies like Baillie Tenheng and Dize Pharmaceutical have made significant breakthroughs in cancer treatment [4] - The military and aerospace sectors are represented by companies like AVIC Chengfei and China Shipbuilding, which are crucial for national strategic security [4] Group 3: Emerging Technologies and Innovations - New energy and new materials companies are at the forefront of the energy revolution, with firms like Fulede and Gansu Energy rapidly rising due to technological upgrades and innovative models [5] - Emerging tech companies such as Fulede and Cambricon have quickly become market stars due to their disruptive technologies and clear strategic paths [5] Group 4: Development Capability Ratings - A detailed list of companies with their development capability ratings includes top-rated firms like Fulede, Jingjia Micro, and Cambricon, all rated AAA [6][7] - The ratings serve as a roadmap for assessing a company's growth potential and strategic vision [9]

上海三大先导产业母基金再出手！ 1月26日，上海三大先导产业母基金发布第三批子基金遴选结果，共有17只子基金入选，其中集成电路4只、生物医药7只、人 工智能6只。 证券时报记者从上海三大先导产业母基金管理人上海国投先导公司获悉，第三批17只子基金总规模228.9亿元，上海三大先导 产业母基金拟投资47.1亿元，放大倍数4.86倍。 2025年7月28日，第三批子基金遴选公告正式发布，截至申报结束，共有53家机构申报。经过专家评审、立项尽调、现场答 辩、正式投决等流程，筛选出符合"上海方案"的优质子基金。 | 屋号 | 基金项目 | 中选机构 | 机构 | | --- | --- | --- | --- | | 1 | 上海生物医药产业股权投资基金二期合伙企业(有 | 上海上实资本管理有限公司 | 上实资本 | | | 限合伙) (拟) | | | | 2 | 德福上海创新股权投资基金合伙企业(有限合伙) | 广州德福投资咨询合伙企业 | 德福资本 | | | (拟) | (有限合伙) | | | 3 | 上海三生医药产业投资基金合伙企业(有限合伙) | 辽宁三生私募基金管理有限公 | 三生制药 | | | ( ...

Core Viewpoint - The recent policy shift in China's A-share merger and acquisition (M&A) market, as outlined in the "Six Guidelines for M&A," marks a transition from an "audit-oriented" approach to an "efficiency-oriented and industry-oriented" framework, enhancing regulatory inclusiveness and supporting market-driven transactions [1][10]. Group 1: Regulatory Changes - The new guidelines reflect a significant change in regulatory attitude, allowing for greater flexibility in areas such as restructuring valuation, performance commitments, and related party transactions [2]. - The revised "Major Asset Restructuring Management Measures" introduced in the first half of 2025 established a phased payment mechanism for restructuring shares and a simplified review process [2]. - The increase in regulatory inclusiveness has led to a remarkable surge in M&A activity, with a 261% year-on-year increase in the number of major asset restructuring applications in 2025 [2]. Group 2: Market Activity and Trends - The A-share M&A market is experiencing a "quantity and quality improvement," with nearly 80% of newly disclosed asset acquisition restructurings being industrial mergers, particularly in sectors like semiconductors and information technology [2]. - The use of diversified payment methods, such as a combination of shares, convertible bonds, and cash, has increased significantly, enhancing transaction flexibility [2]. - The case of Hongchuang Holdings' acquisition of Hongtu Industrial for approximately 635 billion yuan exemplifies the market's response to the new regulatory environment, marking a record scale for similar transactions in recent years [3][4]. Group 3: Case Study - Hongchuang Holdings - Hongchuang Holdings' acquisition of Hongtu Industrial is a prime example of successful market-driven M&A under the new guidelines, with the transaction amounting to about 635 billion yuan [3]. - Following the announcement of the transaction, Hongchuang Holdings' stock price surged over 146%, indicating strong market approval [7]. - The acquisition allows Hongchuang Holdings to transition from a single aluminum processing business to a full industry chain, significantly enhancing its operational scale and market position [8][9]. Group 4: Future Outlook - The successful implementation of the "Six Guidelines" is seen as a pivotal support for M&A activities, signaling a shift towards a more market-oriented approach that prioritizes industrial logic [9][10]. - The A-share M&A market is expected to evolve from a "policy-driven recovery" to an "internally driven prosperity," as more market-based M&A cases emerge [10].

光大证券股份有限公司（以下简称"光大证券"或"保荐机构"）作为安徽 富乐德科技发展股份有限公司（以下简称"富乐德"或"公司"）首次公开发行 股票并在创业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等相关法规要求对 相关人员进行了现场培训。 现将本次培训相关情况报告如下： 一、出席人员 参加本次培训的富乐德人员包括：公司董事、高级管理人员、控股股东和实 际控制人等。 培训地点：安徽富乐德公司一楼会议室。 培训时间：2025 年 12 月 31 日下午 4:00-5:00。 二、培训内容 现场培训前，光大证券制作了培训讲义，并提前向公司发出了关于本次培训 的通知。 光大证券股份有限公司 关于安徽富乐德科技发展股份有限公司 2025 年度现场培训情况报告 1 增强了公司及上述人员的规范运作意识。本次培训达到了预期的目标，取得了良 好的效果。 （以下无正文） 2 （本页无正文，为《光大证券股份有限公司关于安徽富乐德科技发展股份有限 公司 2025 年度现场培训情况报告》签字盖章页） 保荐代表人： 胡宇翔 刘丽敏 本次现场培训分为上市公司治理准则 ...

新股动态： ①国亮新材今日申购，发行价10.76元。 行业大事： ①国新办今日举行新闻发布会，介绍 2025年全年进出口情况。 ②2025年第七届"碳索"企业家跨年分享会于1月14日至15日举办。 ③"十五五" 钢铁行业 绿色低碳、智能升级交流暨"五新"供需会于1月14日至16日举办。 ④2026高质量数据集与数据 标注产业供需对接活动今日举办。 ⑤欧佩克公布月度原油市场报告。 经济数据公布： ①今日有286亿 元7天期逆回购到期。 ②美国11月零售销售环比，预期0.4，前值0。 ③美国11月PPI同比，预期2.7。 ④ 美国至1月9日当周EIA原油库存。 A股动态： ①1家上市公司迎来股票解禁。 劲旅环境解禁7941.84万 股，占总股本59.17%。 ②多家上市公司派息公告汇总，部分将于今日股权登记，1月15日除权除息。派 息力度较大的为 云路股份(10派5.00元)、 江苏银行(10派3.31元)、 佛燃能源(10派2.50元)、 广东明珠(10 派2.00元)、 广电运通(10派1.70元)。其他公司如 三花智控(10派1.20元)、 富乐德(10派1.05元)、 爱尔眼 科(10派0.80元)、 中 ...

1月13日重点关注的财经要闻与资本市场大事： 1、国新办举行国务院政策例行吹风会，介绍《固体废物综合治理行动计划》有关情况 1月13日上午10时，国新办将举行国务院政策例行吹风会，国家发展改革委副主任周海兵、生态环境部 副部长李高和工业和信息化部、住房城乡建设部、农业农村部有关负责人介绍《固体废物综合治理行动 计划》有关情况，并答记者问。 2、国家卫生健康委将就时令节气与健康（小寒、大寒）有关情况举行发布会 1月13日下午3时，国家卫生健康委将召开新闻发布会，介绍时令节气与健康（小寒、大寒）有关情况， 并回答媒体提问。 （原标题：今日看点｜国新办举行国务院政策例行吹风会，介绍《固体废物综合治理行动计划》有关情 况） 1月13日，9家公司共发布9个股票回购相关进展。其中，4家公司首次披露股票回购预案，5家公司回购 方案已实施完毕。 从首次披露回购预案来看，当日共3家公司股票回购预案金额超千万。天益医疗、康比特、特瑞斯回购 预案金额最高，分别拟回购不超1.2亿元、5000.0万元、2000.0万元。从已完成回购来看，当日共4家公 司回购金额超千万。雅戈尔、理工能科、晓鸣股份已完成回购金额最高，分别回购8.98亿元 ...

Summary of Conference Call Records Industry and Company Overview - **Media Sector**: Companies recommended include Kunlun Wanwei, Meiri Hudong, Huanrui Century, Bona Film, and Zhangyue Technology. Bona Film has a close partnership with ByteDance, with an AI blockbuster expected to release in the first half of the year. Zhangyue Technology is actively developing AI short dramas, showing significant potential despite modest recent price increases [1][4]. - **Hong Kong Stocks**: Recommended stocks include Kingdee International (AI revenue exceeds expectations), Bilibili (benefiting from AI advertising), and Kuaishou (strong data, potential for revaluation). These stocks are considered to have the highest elasticity in the Hong Kong market [1][5]. - **Storage Industry**: Currently in a phase of technological upgrades, price increases, and financing cycles. DRAM and NAND contract prices are expected to rise by 50%-60% and around 30%, respectively, in Q1. Samsung's exit from the MLC NAND market will exacerbate supply-demand imbalances [1][6]. Core Insights and Arguments - **Investment Opportunities in Storage**: Favorable outlook for storage manufacturers and design companies (e.g., Zhaoyi Innovation), storage equipment chains (Changxin, Changcun), and storage foundries and testing (Jinghe Integration, Huahong Hongli). Strong price increase expectations for DRAM and NAND by 2026 [1][7]. - **Supply-Demand Dynamics**: Current supply-demand imbalance in the storage industry, with a projected entry into a "sweet spot" by Q3 2025. Expansion unlikely in the short term due to previous profit pressures [1][8]. - **Recommendations for Storage Companies**: Focus on design companies benefiting from price increases, such as Zhaoyi and Junzheng, and companies in the supply chain like Changxin and Changcun. Also, consider companies involved in key segments like Zhongwei, Tuojing, Weidao Nano, and Huahai Qingke [1][9]. Additional Important Insights - **AI Chip Market**: The entry of H200 into China will not alter the long-term trend of domestic chip replacement. Domestic GPUs have significant potential in inference applications, with expectations for breakthroughs [2][12]. - **Domestic Computing Power Development**: 2026 is a pivotal year for the ramp-up of advanced domestic processes and the commercialization of super points and ASIC products. Demand from cloud vendors for domestic computing power is expected to remain strong [10][11]. - **Key Recommendations for Domestic Computing Power**: Recommended companies include Xingyuan Co. (leading ASIC), Weicai Technology (broad customer base), and Huafeng Technology (strong partnership with Huawei). These companies are positioned well within the industry chain [2][13]. - **Core Logic for Domestic Computing Power Development**: The development logic includes capacity alignment, mature hardware solutions, and an evolving ecosystem. The acceleration of model commercialization will drive industry growth, making 2026 a critical investment period [14][15].