Core Viewpoint - Xintong Electronics (001388.SZ) successfully listed on the Shenzhen Stock Exchange, with its opening price at 60.00 CNY per share, representing a 265.41% increase from the issue price of 16.42 CNY per share [1] Company Overview - Xintong Electronics was established in January 1996 and is located in the Zibo High-tech Zone. The company specializes in providing industrial IoT smart terminals and system solutions, focusing on the power and communication sectors [1] - The company has received several honors, including being recognized as a "National Intellectual Property Demonstration Enterprise" and a "Leading Enterprise in Artificial Intelligence in Shandong Province" [1] Financial Performance - The company's revenue for 2022, 2023, and 2024 is projected to be 782 million CNY, 931 million CNY, and 1.005 billion CNY, respectively. Net profits for the same years are expected to be 117 million CNY, 124 million CNY, and 143 million CNY [2] - In Q1 2025, Xintong Electronics achieved a revenue of 163 million CNY, marking an 11.48% year-on-year increase. The net profit attributable to shareholders was 7.64 million CNY, a 21.19% increase year-on-year [2] Shareholder Structure - Before the issuance, the chairman, Li Quanyong, held 47.27% of the company's shares, making him the controlling shareholder. Other significant shareholders include Wang Legang and Wang Bingyou, holding 11.74% and 9.21% of the shares, respectively [3] Use of Proceeds - The company raised a total of 640 million CNY from the public offering, which will be allocated to projects such as the development and industrialization of a three-dimensional inspection and big data analysis platform for transmission lines, maintenance base and service network construction, and a research and development center [2]

Market Overview - A-shares opened mixed with the Shanghai Composite Index up 0.04%, Shenzhen Component down 0.06%, and ChiNext down 0.18% [1] - The sectors showing strength include photovoltaic, military industry, semiconductors, online gaming, and electric power [1] External Market - The Dow Jones Index rose by 0.63% to 44,094.77 points, the S&P 500 Index increased by 0.52% to 6,204.95 points, and the Nasdaq Index gained 0.47% to 20,369.73 points [2] - Most popular Chinese concept stocks declined, with the Nasdaq Golden Dragon China Index down 0.49%. Notable declines include Alibaba down 0.59%, JD.com down 1.30%, and NIO down 0.87%. However, NetEase rose by 1.45% [2] Industry Insights - **Wind Power**: Everbright Securities maintains a positive outlook on the wind power equipment sector, expecting stable pricing and improved profitability by 2026 due to larger turbine sizes and cost reductions in components. The recent policy changes are anticipated to revitalize wind power development and sales [3] - **eSIM Technology**: China International Capital Corporation (CICC) highlights the potential resurgence of eSIM technology, which offers advantages such as compact size, low cost, and high security. This technology is expected to gain traction with the rise of consumer electronics miniaturization and the Internet of Things [4] - **Battery Supply Chain**: Huatai Securities is optimistic about the battery segment, noting a marginal improvement in supply and demand. The production forecast for July indicates a battery output of 108.3 GWh, a 1.9% increase month-on-month. The growth is driven by the increasing penetration of electric commercial vehicles in the domestic market [5]

7月1日，有一只新股申购，为创业板的同宇新材（301630.SZ）。另一只新股上市，为深市主板的信通 电子（001388.SZ）。 一只新股申购 同宇新材系领先的覆铜板领域电子树脂本土供应商，公司主营业务系电子树脂的研发、生产和销售，主 要应用于覆铜板生产；目前，产品主要包括MDI改性环氧树脂、DOPO改性环氧树脂、高溴环氧树脂、 BPA型酚醛环氧树脂、含磷酚醛树脂固化剂等系列。 | 发行价(元/股) | 机构报价(元/股) | 市值(亿元) | 所属行业 | | --- | --- | --- | --- | | 84.00 | | 25.20 | 计算机、通信和其 他电子设备制造业 | | 发行市盈率 | 行业市盈率 | 可比公司 | 可比公司动态市盈率 | | 23.94 | | 圣泉集团 | 25.10 | | | 38.62 | 宏昌电子 | 159.38 | | | | 东材科技 | 37.74 | | 募集资金投资方向 | 拟投入募集资金金额 (亿元) | 日比 | | --- | --- | --- | | 江西同宇新材料有限公司年产20万吨 电子树脂项目(一期) | 12.00 | 92.3 ...

二〇二五年六月二十七日 京东方科技集团股份有限公司 www.lhratings.com 联合〔2025〕4433 号 联合资信评估股份有限公司通过对京东方科技集团股份有限公 司主体及其相关债券的信用状况进行跟踪分析和评估，确定维持京 东方科技集团股份有限公司主体长期信用等级为 AAA，维持"25 京 东方集 MTN001（科创票据）"和"25 京东方集 MTN002（科创债）" 信用等级为 AAA，评级展望为稳定。 特此公告 联合资信评估股份有限公司 九、任何机构或个人使用本报告均视为已经充分阅读、理解并同意本声 明条款。 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响，本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受京东方科技集团股份有限公司（以下简称 "该公司"）委托所出具 ...

Group 1 - As of June 30, 2025, a total of 163 public fund institutions conducted research on 1,943 A-share listed companies, with a total of 40,093 research instances [1] - Public fund institutions are able to gain deeper insights into companies' operational conditions, development strategies, and industry positions through research, aiding in more accurate assessments of future profitability and growth potential [1] - There were 233 stocks that received at least 50 instances of research, with 189 stocks receiving between 50 to 99 instances, 41 stocks receiving between 100 to 199 instances, and 3 stocks receiving over 200 instances [1] Group 2 - The electronic industry led with a total of 7,376 research instances across 229 stocks, significantly outperforming other industries [2] - The pharmaceutical and biological industry and the mechanical equipment industry ranked second and third, with 5,150 and 4,958 research instances respectively [2] - The electronic industry is experiencing significant development opportunities driven by the acceleration of emerging technologies such as artificial intelligence, IoT, and 5G, supported by government policies [2] Group 3 - Other industries with high research frequency include computer, electric equipment, basic chemicals, automotive, telecommunications, national defense, and textile and apparel [3] - A total of 113 public fund institutions conducted more than 100 research instances, with leading institutions like Bosera Fund and Huaxia Fund conducting 971 and 870 instances respectively [3] - Public fund institutions are increasing research efforts to identify potential investment targets by focusing on technological barriers, industry synergy potential, and sustainable development capabilities [3]

中新社北京6月30日电 (记者 刘育英)"下载速度突破10Gbps，比现有千兆宽带快10倍。"随着今年来电信 运营商在中国多个城市推出"万兆套餐"，万兆光网的商业部署加快，城市宽带从千兆向万兆迈进。 在近日举行的2025年世界移动通信大会(上海)，万兆光网(F5G)与5G-A(5G网络的演进和增强版本)组成 的"双万兆"网络成为热点之一。会议信息显示，全球已有超过70家运营商发布了"万兆套餐"。 中国的三大电信运营商今年纷纷推出"万兆套餐"，主要面向高端家庭和企业用户。 在北京，中国移动推出"双万兆AI家庭套餐"试点，每月资费为1399元(人民币，下同)。上海电信推 出"美好家万兆融合套餐"，资费为每月999元。杭州移动本月正式发布"万兆套餐"，首批覆盖20个小区 和园区，并将万兆业务覆盖至杭州全区。 那么，什么是万兆光网？中国电信研究院网络技术所总监张德智近日接受中新社记者采访时表示，万兆 光网是下一代光网络的升级方向，指用户接入互联网时，带宽可达到10Gbps(千兆的10倍)的超高速光纤 网络。 除应用于家庭场景，张德智介绍，万兆光网还可用于工业场景，助力智能制造升级，如在高精度质检场 景，需通过网络实时 ...

Core Viewpoint - The semiconductor industry faces critical challenges in data transmission speed and security, driven by the explosive growth of AI, connected vehicles, 5G, and IoT, leading to increased demand for high-performance computing and low-power chips [1] Group 1: Industry Challenges and Innovations - The bottlenecks in memory bandwidth and data processing security are becoming increasingly prominent [1] - Interface IP and security IP technologies are identified as core drivers for breakthroughs in the industry, directly impacting chip performance, compatibility, and attack resistance [1] - Rambus, established in 1990, is a pioneer in this field, redefining data transmission standards between memory and systems with innovative high-speed interface technologies [1] Group 2: Rambus Solutions - Rambus offers solutions such as DDR memory interfaces, HBM3/4, and PCIe 5/6, significantly enhancing performance limits in data centers and edge computing [1] - The company provides a range of security IP solutions, including root of trust technology, security protocol engines, inline cryptographic engines, and post-quantum cryptography accelerators [1] - These comprehensive security and interface IP solutions contribute to a robust product portfolio for Rambus [1] Group 3: Upcoming Event - Rambus will host a technology discussion on July 9, 2025, in Beijing, focusing on AI and automotive sectors, featuring industry partners and technical experts [2][3] - The morning session will cover the latest interface and security IP solutions for AI and advanced applications, including quantum-safe encryption and various memory technologies [6] - The afternoon session will delve into automotive safety solutions, addressing trends and challenges faced by hardware and software designers in smart connected vehicles [7]

其中，石头科技市场份额提升至16.4%，连续两季度排名全球第一，在北美及亚太市场出现了显著增 长，尤其在美国电商平台取得关键突破；小米全球份额小幅上涨，以10.3%的份额排在第四，在欧洲市 场主要针对中端市场进行产品升级；追觅以7.6%份额排在第五，出货量同比上涨39.7%，是全球前五中 出货增长最快的厂商，尤其在高端市场，其有多个型号在西欧、日本、美国表现出色。可以预见，国内 扫地机器人相关产业链厂商也将因此受益，迎来新一轮发展契机。 作为光学头部厂商，欧菲光凭借在光学光电领域技术优势，抓住新兴市场机遇，将产业布局延伸到了机 器人领域。欧菲光微电子团队2019年进入机器人赛道，推出ToF避障模块，出货量kk级别。2024年推出 双光源ToF专利架构方案，实现"避障+定位导航技术"、10米探测距离、低功耗、高采样率、低算力等 优势，创新引领行业技术革新。 据欧菲光微信公众号刊载，石头科技先锋旗舰自清洁扫拖机器人V20首次搭载了新型3D-ToF双光源发射 技术，该技术由石头科技、英飞凌、pmd以及欧菲光共同研发、量产。方案通过发射两种不同模式的激 光，让机器人能够通过双光源ToF技术往同样的方向，以不同的感知面 ...

《横琴粤澳深度合作区产业发展规划（2025-2029 年）》日前印发。其中提出，建设人工智能协同创新 生态。支持建设新一代类脑人工智能公共算力开放创新平台，推动智能网联汽车道路测试和示范应用全 域开放，为人工智能在智能驾驶、医疗健康、政务服务、智慧城市等重点领域建设测试沙盒及应用场 景。依托澳门接轨国际的监管环境和合作区应用场景，推动大数据、人工智能、物联网等赋能实体经济 和城市发展。 ...

文|恒心 来源|博望财经 | [编纂]的[编纂]數目 | .. | [编纂]股日股(視乎[编纂] | | --- | --- | --- | | 行使與否而定) | | | | [编纂]數目 | | [编纂]股H股(可予重新分配) | | [编纂]數目 | | 【编纂】股H股(可予重新分配及視乎 | | [编纂]行使與否而定) | | | | 最高 编纂] | | : 每股H股[编纂]港元,另加1.0%經紀佣金、 | | 0.0027%證監會交易徵費、0.00015% | | | | 會財局交易徴費及0.00565%聯交所交易費 | | | | (須於[編纂]時以港元繳足,多繳款項可予 | | | | 張賞) | | | | 面值 | : | 每股H股人民幣1.00元 | | 【编纂】 | .. | 【编纂】 | | 聯席保薦人、整體協調人、[編纂] | | | | 1 @ I Dollar | | 0 4 1 | 全球安卓端BIoT龙头商米科技要冲击港股IPO了。 代工模式虽降低重资产投入，却导致毛利率长期受制于上游供应链。2024年28.9%的毛利率虽较前两年有所回升，但仍显著低于具备自主生产能力的新大 ...