Financial Performance - The net profit attributable to shareholders is expected to be between 21,000 and 26,000 thousand yuan, representing a year-on-year increase of 51.63%[3] - The net profit after deducting non-recurring gains and losses is projected to be between 21,000 and 25,500 thousand yuan, reflecting a year-on-year growth of 39.82%[3] - The basic earnings per share is estimated to be between 0.52 and 0.61 yuan, compared to 0.38 yuan in the same period last year[3] Revenue Growth Drivers - The growth in revenue and net profit is attributed to the high demand for high-layer, high-precision, high-density, and high-reliability PCB products driven by traditional server upgrades and the booming AI server market[5] Cautionary Notes - The performance forecast is based on preliminary estimates and has not been audited by an accounting firm, urging investors to exercise caution[6]

Group 1 - The new stock market activity has decreased, with the first-day price increase of new stocks on the Sci-Tech Innovation Board declining, while the opening board valuation has increased [1][13][17] - In March, the Sci-Tech Innovation Board's Shengke Nano was listed, achieving a first-day price increase of 241.41% and an opening board valuation of 154.01 times [1][17] - The ChiNext Board saw the listing of Zhejiang Huaye, Zhejiang Huayuan, and Xidian shares, with some stocks experiencing significant declines [1][25] Group 2 - The new stock issuance PE ratio for the Sci-Tech Innovation Board increased to 42.64 times in March, compared to 23.30 times in January [19][36] - The ChiNext Board's new stock issuance PE ratio rose to 17.56 times in March, up from 17.14 times in February [26] - The main board's new stock issuance PE ratio increased to 18.17 times in March, compared to 18.88 times in February [36] Group 3 - The report highlights key newly listed stocks since January 2023, including Shengke Nano and Hongjing Optoelectronics, which are recommended for attention [49] - The report lists 19 companies that have received approval from the China Securities Regulatory Commission, including Weigao Blood Purification and Yitang Technology, which are considered promising [45][46] - The report provides a detailed overview of the market position and competitive landscape of Shengke Nano, emphasizing its leading status in the semiconductor testing and analysis industry [56][57]

// 市场要闻 // 国有大行重磅官宣。 3月30日下午，中国银行、中国建设银行、交通银行发布公告称，董事会通过 了向特定对象发行A股股票条件的议案。其中，建设银行拟引入财政部战略投资，募资总额不超过 人民币1050亿元。交通银行拟定增募资不超过1200亿元，发行对象为财政部、中国烟草和双维投 资，其中财政部拟认购金额为1124.2亿元。募资均用于补充核心一级资本。中国银行拟向特定对象 发行A股股票，募集资金总额不超过1650亿元。 社保基金重仓这些股票。 随着上市公司年报密集披露，作为长线资金代表的社保基金 2024 年末重 仓股及持股变动情况浮出水面。 Wind数据显示，截至3月28日，已有938家上市公司披露了2024年年报，其中有133家上市公司（包含2 家未披露年报但已披露2024年末十大流通股东上市公司）的前十大流通股东中出现了社保基金的身影。 2024年四季度，社保基金新进29只个股的前十大流通股东序列，同时对40只个股的持股数量增加。 自由现金流 ETF 近期成为基金行业的一大焦点。 在挖掘基金重仓股上只看净利润不看现金流的策 略，使得许多基金经理在过去三年间积累了大量有关忽视自由现金流的"苦 ...

Group 1: Banking Sector Developments - Four major state-owned banks in China announced plans to raise capital through A-share issuance, with total fundraising amounts reaching up to RMB 105 billion, 165 billion, 120 billion, and 130 billion respectively [2] - The Ministry of Finance will subscribe to all newly issued shares of China Bank and Construction Bank, and over 90% of the new shares of Postal Savings Bank and Transportation Bank, totaling an investment of RMB 500 billion [2] - The banks will hold an investor briefing on March 31, 2025, to discuss the A-share issuance [2] Group 2: Regulatory Changes - The China Securities Regulatory Commission (CSRC) has amended the Securities Issuance and Underwriting Management Measures to include bank wealth management products and insurance asset management products as priority allocation objects for IPOs [3][4] - This change aims to provide equal treatment for bank wealth management and insurance asset management products in new stock subscription standards [3] Group 3: Automotive Industry Initiatives - The State-owned Assets Supervision and Administration Commission (SASAC) plans to strategically restructure central automotive enterprises to enhance industry concentration and resource allocation efficiency [5] - The focus will be on innovation, optimizing layouts, and deepening reforms, particularly in the development of smart connected new energy vehicles [5] Group 4: Consumer Lending Trends - Several banks are set to increase the annual interest rates on credit consumer loans to no less than 3% starting in April, following a competitive pricing environment earlier this year [6] - The consumer loan market has seen rates drop below 3% as banks competed for market share, with some rates as low as 2.4% [6] Group 5: Fundraising and Investment Opportunities - Multiple public funds have launched offerings for index-enhanced funds focused on the Science and Technology Innovation Board, indicating a strong interest in equity fund investments [7][8] - The Science and Technology Innovation Index is seen as a key investment tool for capitalizing on China's technological advancements [8] Group 6: Real Estate Policy Changes - Anhui Province has announced the cancellation of housing restrictions and the opening of inter-city loans to stimulate housing consumption and stabilize the real estate market [10] - The policy includes measures such as promoting housing sales, implementing tax incentives, and expanding the scope of housing provident fund withdrawals [10] Group 7: IPO Activity - The Shanghai Stock Exchange has accepted its first IPO application for a loss-making company this year, indicating a shift towards encouraging high-quality, unprofitable tech firms to go public [11] - The CSRC has approved two IPO registrations, with new stock subscriptions scheduled for the upcoming week [13]

Financial Performance - The company expects a net profit attributable to shareholders of approximately 41,468.57 million CNY, representing a year-on-year increase of 51.92%[3] - The projected net profit after deducting non-recurring gains and losses is estimated to be between 62,500 million CNY and 68,500 million CNY, reflecting a growth of 43.57% to 57.36% compared to the previous year[3] - Basic earnings per share are anticipated to be between 1.53 CNY and 1.67 CNY, up from 1.09 CNY in the same period last year[3] Revenue Growth Drivers - The growth in revenue and net profit is attributed to the ongoing optimization of product structure due to the iteration and upgrade of general servers, as well as the deepening application of AI technology[5] Performance Forecast - The performance forecast is based on preliminary estimates by the company's finance department and has not yet been audited by an accounting firm[4] - Investors are advised to exercise caution as the performance forecast is subject to change and the final financial data will be disclosed in the 2024 annual report[6]

本次发行股票拟在科创板上市，科创板公司具有研发投入大、经营风险高、业 绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投资者应充分了 解科创板的投资风险及本公司所披露的风险因素，审慎作出投资决定。 广东天承科技股份有限公司 Guangdong Skychem Technology Co., Ltd. （珠海市金湾区南水镇化联三路 280 号） 首次公开发行股票并在科创板上市 招股说明书 （注册稿） 本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本 招股说明书不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当 以正式公告的招股说明书作为投资决定的依据。 保荐人（主承销商） （中国(上海)自由贸易试验区浦明路 8 号） 广东天承科技股份有限公司 招股说明书 声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负 ...