蓝思科技为全球领先的智能终端精密制造解决方案提供商，尤其在消费电子、智能汽车及新兴科技领域拥有较强的技术实力和市场地位。在此次招股中，蓝 思科技获得资金簇拥，香港公开发售获得462.76倍的认购，全球发售净筹约46.94亿港元。 港交所的锣不够敲了！7月9日，港股IPO市场迎来狂欢日，5家新贵集体敲钟。 当日在港交所挂牌上市的企业多达5家，现场热闹非凡。这5家企业分别为：蓝思科技(06613.HK)、极智嘉-W(02590.HK)、大众口腔(02651.HK)、 FORTIOR(01304.HK)以及讯众通信(02597.HK)。 | 代码 | 名称 | 米幅。 | 现价 | 上市日期� | | --- | --- | --- | --- | --- | | 1 06613 | 蓝思科技 | +3.41% | 18.800 | 20250709 | | 2 02651 | 大众口腔 | +15.75% | 23.150 | 20250709 | | 3 02597 | 讯众通信 | -0.37% | 13.500 | 20250709 | | 4 02590 | 极智嘉-W | -0.71% | 16.680 ...

大家好，我是佩妮。 昨天晚上突发新闻，智元机器人要约收购科创板公司上纬新材，抢跑"人形机器人第一股"了。 （宇树科技哭晕在厕所 ） 今天上纬新材直接 20cm涨停 ，这保密做的真好啊。 智元机器人 2023 年 2 月才成立，至今不过 2 年多。如果这波成功上岸，可以说 神级操作，教科书 级别…… 想学他的公司不要太多，已经在悄摸摸干的公司更多了，当然这个量级的还是比较少见。 简单来说就是智元花了20亿左右买了上市公司 63% 的股权，（里面智元自己出了 46%，各种出资人LP 出了其他的）。 平价买，没有溢价。对应 PE 约 39 倍。 这家公司原股东 持股比较集中，盈利稳定，风险小。 收完了也没稀释太多，回头上涨了 绝大部分增值收益（如股价上涨、融资便利）还是归团 队所有。 目前宇树在一级市场的估值超过百亿（上一轮约 100 亿），估计在 100-150 亿左右，和目前上纬新材的市值还有 4-5 倍 差距。 （要注意，这个不能作为投资建议，因为首先人家现在还压根没注入资产，其次资产很可能也都是无形资产，你觉得值钱就值钱那种。 最后，一级市场的估值取决于 最乐观 的那个人……） 不过二级市场有意思的地方就在 ...

智元机器人否认拟收购上纬新材63.62%股份为借壳上市 称二者业务协同方案后续会对外公布 智通财经7月9日电，上纬新材昨日发布公告称，智元机器人至少收购其63.62%股份，引发市场广泛关 注。该交易是否构成借壳上市？智元机器人方面回应记者称，"本次行动仅为收购控股权，不构成《重 大资产重组办法》所定义的借壳上市"。另外，就两家公司的主营业务即新材料与机器人，能否达成有 效业务协同的问题，上纬新材证券部相关人员向记者解释称，"公司现有部分业务确实会应用于机器人 领域，后续具体的业务协同方案将在整合一段时间后对外公布。（蓝鲸新闻记者 翟智超） ...

Core Viewpoint - The successful IPO of Beijing Yitang Semiconductor Technology Co., Ltd. marks the beginning of a wave of domestic semiconductor listings, highlighting the growing importance of the semiconductor industry in China [5][7]. Group 1: Company Overview - Yitang Semiconductor officially listed on the STAR Market on July 8, with an initial price of 8.45 yuan per share, experiencing a surge of over 200% at opening, leading to a market capitalization that briefly exceeded 77 billion yuan before settling around 60 billion yuan [5][6]. - The company raised 2.497 billion yuan through its IPO, ranking first in fundraising in Beijing [6]. - Yitang Semiconductor specializes in semiconductor equipment, focusing on the research, production, and sales of wafer processing equipment essential for integrated circuit manufacturing, with three core products: dry stripping equipment, rapid thermal processing equipment, and dry etching equipment [18][19]. Group 2: Financial Performance - Yitang Semiconductor reported revenues of 4.763 billion yuan in 2022, 3.931 billion yuan in 2023, and projected 4.633 billion yuan in 2024, with net profits of 383 million yuan, 310 million yuan, and 540 million yuan respectively [20][21]. - The company has a significant customer base, including major players like TSMC, Samsung, Micron Technology, Intel, SK Hynix, and SMIC, with over 4,600 units of its products installed globally by mid-2024 [22]. Group 3: Industry Trends - The successful IPO of Yitang Semiconductor is seen as a catalyst for a surge in domestic semiconductor IPOs, with several companies like Changxin Storage and Ziguang Zhanrui also initiating their listing processes [25][26]. - The semiconductor sector is witnessing a rush for IPOs, with many companies aiming to capitalize on the current favorable market conditions, as evidenced by the recent acceptance of multiple semiconductor companies' IPO applications by the stock exchanges [27][28]. - The competitive landscape is intensifying, as companies recognize the urgency of going public to secure funding and market positioning amid a challenging investment environment [30][31].

Core Viewpoint - The acquisition of shares in the company by Zhiyuan Hengyue and Zhiyuan Innovation marks a significant shift in control, with Zhiyuan Hengyue becoming the new controlling shareholder and Deng Taihua as the actual controller of the company [2][3][15]. Group 1: Acquisition Details - Zhiyuan Hengyue plans to acquire 101 million shares from SWANCOR Samoa, representing 24.99% of the total share capital, and an additional 1.49 billion shares through a partial tender offer, totaling 37% of the company's shares [2][3]. - After the completion of these transactions, Zhiyuan Hengyue and Zhiyuan Innovation will collectively hold 29.99% of the company's shares and corresponding voting rights [3]. Group 2: Company Background - Zhiyuan Hengyue was established on June 25, 2025, with three shareholders: Zhiyuan Yingfeng (49.50%), Hengyue Dingfeng (49.50%), and Zhiyuan Innovation (0.5%) [5]. - Zhiyuan Yingfeng is a wholly-owned subsidiary of the humanoid robot unicorn Zhiyuan Robot, while Hengyue Dingfeng is led by Deng Taihua, the chairman of Zhiyuan Robot [6]. Group 3: Market Implications - The acquisition is perceived as a reverse merger, allowing Zhiyuan Robot to go public through the existing company, which is seen as a strategic move in the current market environment [7][24]. - The acquisition price is set at 7.78 yuan per share, aligning with the company's pre-suspension price, indicating a market capitalization of 3.1 billion yuan [23]. Group 4: Regulatory Considerations - The acquisition must comply with the regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding major asset restructuring and reverse listings on the Sci-Tech Innovation Board [10][12]. - Key requirements include the target assets having positive net profits for the last two years or meeting specific revenue and cash flow criteria [12][14]. Group 5: Future Outlook - If the acquisition proceeds smoothly, Zhiyuan Robot's core assets could potentially be listed in the capital market within two years [18]. - The trend of companies seeking reverse mergers or similar methods for public listing is expected to grow, providing new exit strategies for investors and startups [24].

名场面。 作者 I 杨继云 刘博 报道 I 投资界PEdaily 此时此刻，港交所人潮涌动。 今 天 （ 7 月 9 日 ） ， 港 股 再 度 上 演 热 闹 一 幕 —— 蓝 思 科 技 、 极 智 嘉 、 峰 岹 科 技 、 讯 众 通 信、大众口腔，5家企业集体鸣锣。 其中，蓝思科技一举引入1 0名基石投资者，开盘市值一度突破1 0 0 0亿港元； 极智嘉也登 顶港股机器人IPO规模之最，市值2 20亿港元 ；峰岹科技、讯众通信、大众口腔则开盘大 涨。 放眼望去，赴港IPO队伍人头攒动。这一幕注定将载入港股史册。 蓝 思 科 技 此 次 赴 港 IPO ， 从 今 年 3 月 31 日 向 港 交 所 递 交 招 股 书 ， 到 6 月 20 日 迎 来 上 市 聆 讯，再到今天正式挂牌上市，用时只有1 0 0天时间。速度之快，堪称港股IPO市场的生动 写照。 备受瞩目的还有机器人独角兽极智嘉。来自北京的极智嘉，创始人郑勇是学霸出身，他本 硕毕业于清华大学，也是德国亚琛工业大学硕士，后来曾加入了新天域资本。早年郑勇在 考察亚马逊仓库物流项目时被震撼到，于是他与几位好友在2 0 15年创办极智嘉，专注于 ...

国内企业赴美上市面临多方面的挑战，尤其在面对复杂的监管、财务审计、市场环境等挑战时，企业需要谨慎选择专业的服务机构。 本文将梳理国内企业赴美上市的六大关键挑战，并提出相应的应对策略，助力企业顺利跨越上市关卡。 壹、监管与法律合规挑战 （一）面临挑战 上市备案制：自2023年起，中国实施境外上市备案制，要求提交详尽材料，增加时间成本，且存在备案不成无法上市的风险。 美国SEC审查：美国SEC要求严格的信息披露，特别是中概股的审计底稿问题，尽管中美已达成审计监管合作协议，但长期合规仍是挑战。 行业限制：房地产、教育、互联网等行业受国内政策收紧影响，业务模式可能受质疑。 法律风险：包括《外国公司问责法案》退市风险和FCPA合规挑战，需建立合规体系。 （二）应对策略 提前规划：企业应在筹备上市之初，就深入了解并适应美国的监管要求。 加强内控：建立完善的内部控制体系，确保财务报告的准确性和透明度。 （二）应对策略 转换会计准则：在上市前，企业应按照GAAP对财务报表进行调整，以满足美国监管要求。 贰、中美会计准则差异 （一）面临挑战 选择国际审计机构：聘请PCAOB（美国公众公司会计监督委员会）认可的审计机构进行审计， ...

以下文章来源于光子星球 ，作者郝鑫 光子星球 . 细微之处，看见未来 将投中网设为"星标⭐"，第一时间收获最新推送 处在上市前夜的AI六小虎，却各有各的难。 作者丨 郝鑫 编辑丨 吴先之 来源丨 光子星球 隔壁阿里Qwen3刷新模型记录，字节豆包全家桶打折甩卖。资本和市场就像两个无形的手，让大模 型六小虎们（月之暗面、智谱AI、MiniMax、阶跃星辰、百川智能、零一万物）不敢再沉寂下去。 智谱宣布获得浦东创投集团和张江集团联合10亿元人民币的战略投资，并开源新一代视觉语言大模 型GLM-4.1V-Thinking和全新的生态平台"Agent应用空间"；月之暗面开源代码模型Kimi-Dev， 上市这个选择，既关乎"面子"也关乎"里子"，一方面是靠融资上市续命，缓解"吞金"的压力，另一 方面是争夺行业话语权，撕掉"掉队"的标签。 不过，处在上市前夜的AI六小虎，却各有各的难，能否一举成功上市尚未可知，上市之后仍是挑战重 重。 各有各的难处 首个AI Agent项目Kimi Researcher（深度研究）开启内测；MiniMax"五连更"，涵盖推理模型、 视频生成模型、智能体、音色设计。 截至目前，六小虎中的两 ...

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) is becoming a crucial platform for domestic lithium battery companies to connect with international capital, especially as restrictions from overseas exchanges and tightening domestic policies increase the trend of companies seeking secondary listings in Hong Kong [1] Group 1: Market Trends - There is a noticeable increase in lithium battery companies transitioning to the HKEX, with successful listings from companies like BYD, CATL, and others [1] - EVE Energy announced its intention to initiate an IPO in Hong Kong to support overseas factory construction and global capacity layout [1] Group 2: Company Developments - Star Materials, a leading separator manufacturer, submitted its application for H-share listing on July 7, 2025, and is the first in the industry to achieve mass export of lithium-ion battery separators [1] - Star Materials has a diverse customer base including LG Energy, Samsung SDI, and CATL, with a global footprint across nine production bases [1] Group 3: Financial Plans - The IPO proceeds for Star Materials will be used to expand its overseas network, including a production base in Malaysia with an investment of approximately HKD 54.62 billion, a base in the USA costing about HKD 6.32 billion, and a research center in Singapore with an investment of around HKD 2.1 billion [2] Group 4: Competitive Landscape - Tinci Materials, a leading electrolyte manufacturer, plans to issue H-shares and is expanding its global strategy, with a projected sales volume of over 500,000 tons of electrolyte in 2024, marking a 26% increase from 2023 [3] - Tinci Materials is also investing in Morocco to establish an integrated production base for electrolytes and key raw materials, with an annual production capacity of 150,000 tons [3] Group 5: Legal Challenges - Tinci Materials is currently involved in a legal dispute with Yongtai Technology over commercial secrets, with mutual claims exceeding 900 million yuan [3][4] - The ongoing patent disputes in the lithium battery sector highlight the need for companies to strengthen their R&D capabilities to navigate global competition [4]

上海印发《上海市促进高成长企业加快发展三年行动方案(2025-2027年)》。其中提到，支持企业上市发 展。将独角兽企业纳入上市培育库，研究推出独角兽企业上市服务举措，为独角兽企业上市募投项目落 地提供全方位支持。持续举办未来产业之星大赛、"浦江之光"百家企业改制上市系列培训、上市沙龙等 系列活动，开展独角兽企业"一月一链"投融资路演，进行动态对接、精准服务，及时解决企业上市诉 求。 ...