中经实习记者朱会珊记者杜丽娟北京报道 2024年6月19日，证监会发布《关于深化科创板改革服务科技创新和新质生产力发展的八条措施》（以 下简称"科创八条"），其中在支持硬科技企业上市、优化发行承销制度、再融资、并购重组、指数产品 及市场生态等八个方面，提出了30余项支持和优化举措。 科创八条发布一年来，通过制度创新和市场机制完善，科创板服务硬科技企业的能力得到显著提升。 安永北京主管合伙人杨淑娟表示，在资本市场方面，2025年2月证监会发布了《关于资本市场做好金 融"五篇大文章"的实施意见》，再次强调支持优质科技型企业发行上市，并更强调精准性。"在全球科 技竞赛倒逼和产业升级双重影响下，科技创新企业上市融资动力增强，对于科技属性强、满足上市条件 的优质企业来说，未来或将更先开启上市程序。" 安永发布的《中国内地和香港IPO市场》报告指出，截至2025年6月11日，上半年A股共有50家企业实现 首发上市，其中上市企业以中小规模为主，上市筹资金额超过371亿元，IPO数量和筹资额实现双增 长，均同比上升14%。从具体行业来看，工业、科技和材料领域的IPO数量和筹资额位居前三位。 结合市场变化，安永团队分析认为，未 ...

本报记者 郭冀川 巨丰投资首席投资顾问张翠霞在接受《证券日报》记者采访时表示，专精特新企业作为推动产业升级、增强经济韧性的关 键力量，往往具有轻资产、高风险的显著特征，这类企业通常专注于细分领域的技术创新与产品研发，固定资产占比较低，而 核心资产更多体现在知识产权、技术专利以及专业人才等无形资产方面。然而，传统金融机构在评估企业信用和风险时，往往 更侧重于有形资产和短期财务指标，这使得专精特新企业在融资过程中面临诸多障碍，融资难度显著大于传统企业，在此背景 下，财政奖补、贷款贴息、融资担保等多种方式成为降低专精特新企业融资成本、缓解资金压力的有效途径，也是近期政策支 持的主要方向之一。 郑磊说："各地积极扶持专精特新企业，也是看好他们对本地发展产业集群的重要作用。如在江苏省苏州市，围绕电子信 息、生物医药等主导产业，涌现出一大批专精特新企业，形成了完整的产业生态，这些企业在细分领域的专注发展，填补了产 业链关键环节，使地方产业集群更加健全和富有竞争力。同时，专精特新企业的集聚也吸引了上下游企业的聚集，进一步强化 了产业集群效应。" 张翠霞说："专精特新企业通常拥有大量的知识产权，如专利、商标、著作权等，这些知 ...

新京报讯（记者叶红梅）6月12日下午，第十届"创客中国"北京市中小企业创新创业大赛暨"创客北京 2025"创新创业大赛新闻发布会召开。记者从会上了解到，大赛首次与专精特新企业认定直接挂钩，根 据参赛及获奖情况给予1-5分的专项加分，助力优质企业快速成长。 据悉，大赛鼓励中小企业和创业者积极报名，对优质企业和项目特别安排了"晋级直通车"，其中，北京 市"专精特新"企业、国家级专精特新"小巨人"企业、通过"创赢未来"初筛项目、"京彩大创"其他获奖项 目、首都医学科技创新成果转化优促计划潜力项目，可直通区级复赛；获得"创赢未来"资金奖励的项 目、首都医学科技创新成果转化优促计划赋能项目、进入市教委2025年"京彩大创"冠军赛的项目，可直 通市级决赛。 "创客北京2025"已于5月30日启动报名，企业可登录大赛官方网站https://www.smebj.cn/统一在线报名。 编辑 张树婧 校对 陈荻雁 从赛制来说，本届大赛由区域赛和龙头企业专项赛构成，区域赛由窗口平台初赛、区级复赛和市级决赛 组成，共设立200余个初赛点，17个分赛区，面向高精尖产业和未来产业广泛征集和遴选优秀项目。龙 头企业专项赛以行业龙头企业"张 ...

Core Viewpoint - Fangzheng Technology plans to raise funds through a private placement to accelerate its entry into the high-value-added market and expand its operational scale, with a focus on artificial intelligence and high-density interconnect circuit board production [1][2][3] Fundraising and Project Details - The company intends to issue up to 12.51 billion shares to no more than 35 specific investors, raising a maximum of 19.80 billion yuan for the construction of an artificial intelligence and high-density interconnect circuit board industrial base project, which has a total investment of 21.31 billion yuan [1][2][3] - The project aims to enhance the company's production capacity in high-end HDI products, responding to the growing demand driven by advancements in artificial intelligence and smart terminals [3][4] Support from Major Shareholders - The controlling shareholder, Zhuhai Huashi Huanxin Fangke Investment Enterprise, has committed to participate in the fundraising, contributing up to 4.65 billion yuan, which represents 23.50% of the total shares issued [1][5] Employee Incentives - Alongside the fundraising, the company has introduced a stock incentive plan for 228 core employees, granting up to 10.425 million restricted stock units at a price of 2.40 yuan per share, significantly below the market price [6][7] - The incentive plan aims to achieve specific revenue and profit growth targets from 2025 to 2027, with a focus on maintaining a strong cash flow [7] Financial Performance - Since its judicial reorganization in 2022, the company's financial performance has improved, with net profits of 1.35 billion yuan in 2023 and 2.57 billion yuan in 2024, marking a year-on-year growth of 90.55% [8] - In the first quarter of this year, the company reported a revenue of 9.52 billion yuan, a year-on-year increase of 23.68%, and a net profit of 0.78 billion yuan, reflecting a growth of 2.04% [8]

【深圳商报讯】（记者詹钰叶）北证专精特新指数拟于6月30日上线，这意味着北交所即将开启"双指 数"时代。北交所最新总市值已超过8000亿元，其中专精特新"小巨人"企业总市值过半。 北交所与中证指数有限公司日前联合发布北证专精特新指数编制方案与样本股名单，拟于6月30日正式 发布实时行情，以反映北交所专精特新企业整体表现，为市场提供多维度投资标的和业绩基准。 根据指数编制方案，此次北证专精特新指数在北交所专精特新"小巨人"企业中选取了50只市值规模和流 动性排名靠前的证券作为指数样本。北交所称，北证专精特新以客观反映北交所专精特新企业运行状况 为目标，同时结合北交所市场现状及专精特新企业特点，对流动性门槛、定期调整等编制要素进行特色 化设置。 同花顺数据显示，截至6月12日，北交所共有267家上市公司，最新总市值为8322.19亿元。其中，专精 特新"小巨人"企业有139家，主要涉及生物医药、高端装备制造、新材料、新一代信息技术等重点领 域，最新总市值为4348.58亿元，占北交所总市值的52.25%；锦波生物、天工股份、曙光数创与星图测 控这4家公司的市值超过100亿元。 西部证券分析师曹森元表示，入选北证专 ...

龙头企业专项赛事则以行业龙头企业"张榜"、中小企业"揭榜"的形式，助力中小企业参与重点产业链供应链强链补链，推动形成大中小企业良性互动、协同 发展格局。目前已联合北汽集团、北京人形机器人创新中心、海博思创、中国商飞北研中心、软通动力、中国有研、集创北方、京东方、京东、360、西门 子、用友和东华软件等13家龙头企业设置专项赛道，重点围绕新汽车科技、具身智能、民用航空、新材料等领域，发现前沿技术，开展融合对接。 6月12日，第十届"创客中国"北京市中小企业创新创业大赛暨"创客北京2025"创新创业大赛新闻发布会在京召开。据悉，本届大赛分为北京区域赛事和龙头 企业专项赛事，已于5月30日启动报名，项目招募报名截止时间为6月30日。同时，首次将大赛成绩与专精特新企业认定挂钩，根据参赛及获奖情况给予1—5 分的专项加分。 设置北京区域赛事和龙头企业专项赛事 据悉，"创客北京2025"创新创业大赛分为北京区域赛事和龙头企业专项赛事。其中，北京区域赛事由窗口平台初赛、区级复赛和市级决赛组成，共设立200 余个初赛点、17个分赛区。同时，聚焦高精尖和未来产业领域，围绕人工智能、医药健康、信息技术、高端制造、具身智能、新材料 ...

北证专精特新指数拟于6月30日上线，这意味着北京证券交易所（即北交所）即将开启"双指数"时代。 北交所最新总市值已超过8000亿元，其中专精特新"小巨人"企业总市值过半。业内称北证专精特新指数 的推出有助于提升北证市场的影响力，有助于指数ETF等投资产品的开发，有助于投资者参与北证市场 的投资。 首创证券（601136）分析师邹序元指出，北证专精特新指数在样本公司的总市值、经营状况、财务状 况、流动性等方面进行了充分考量，是具有价值特征的指数。"北证专精特新指数的推出有助于提升北 证市场的影响力，有助于指数ETF等投资产品的开发，有助于投资者参与北证市场的投资。"投资主线 方面，投资者可继续重点关注稳定币、创新药BD模式、科技产业边际变化、并购重组等相关方向的投 资标的。 中泰证券分析师冯胜指出，2025年北交所的高质量发展有望取得显性成果，看好新的一年北交所的整体 表现，建议投资者关注机器人领域的滚针轴承龙头企业苏轴股份、超声波传感器"小巨人"奥迪威等，半 导体领域的半导体第三方测试领军企业华岭股份等，大消费领域的新国货丝绸第一股太湖雪、北交所宠 物食品第一股路斯股份、北交所运动营养第一股康比特等。 同花顺 ...

就A股市场来看，A股上半年共有50家企业实现首发上市，上 市企业以中小规模企业为主，合计筹资超过371亿元，IPO数 量和筹资额实现双增长，均同比上升14%。 作者：姜鑫 封图：图虫创意 "2025上半年，未有IPO破发，IPO平均首日回报达到220%，与2024上半年的136%相比，同比大幅上升。" 2025年6月12日，在《中国内地和香港IPO市场》报告（下称"报告"）发布现场，安永北京主管合伙人杨淑娟如是介绍了上半年A股IPO（首次公开募 股）发行情况。 报告显示，2025年上半年，中国内地和香港地区IPO活动在全球中的占比上升。其中，香港IPO活动表现抢眼，筹资额占全球总筹资额的24%，与A股 合计占全球总筹资额的33%。同时，得益于宁德时代等大型IPO推动，港交所以140亿美元募资规模登顶全球。 全球市场IPO数量和融资规模 A股IPO平均首日回报达到220% 就A股市场来看，A股上半年共有50家企业实现首发上市，上市企业以中小规模企业为主，合计筹资超过371亿元，IPO数量和筹资额实现双增长，均同 比上升14%。 报告显示，从行业来看，工业、科技和材料领域的IPO数量和筹资额分居前三位。汽车行业作 ...

Group 1: Global IPO Activity - In the first half of 2025, the proportion of IPO fundraising from mainland China and Hong Kong rose to 33% of the global total, with Hong Kong accounting for 24% of global fundraising [1][6] - The global IPO market is expected to see around 500 companies listed, with total fundraising of $57.5 billion, reflecting a 9% increase in fundraising despite an 11% decrease in the number of IPOs compared to the previous year [1] Group 2: A-Share Market Performance - A total of 50 companies went public in the A-share market in the first half of 2025, raising over 37.1 billion RMB, marking a 14% increase in both the number of IPOs and the total fundraising amount year-on-year [4] - The industrial, technology, and materials sectors led in both the number and amount of IPOs, with over 30% of the listed companies belonging to the automotive industry [4] Group 3: Regional Contributions to A-Share IPOs - The Yangtze River Delta and Pearl River Delta regions are the main contributors to A-share listings, with Jiangsu, Zhejiang, Guangdong, and Anhui being the top four provinces, collectively accounting for 90% of the total IPOs [5] - In terms of fundraising, Zhejiang, Guangdong, Jiangsu, Heilongjiang, and Anhui accounted for 78% of the total amount raised [5] Group 4: Hong Kong IPO Market Recovery - Approximately 40 companies are expected to go public in Hong Kong in the first half of 2025, raising around 108.7 billion HKD, with a 33% increase in the number of IPOs and a 711% increase in fundraising compared to the previous year [6] - The average fundraising amount for Hong Kong IPOs has increased more than fivefold year-on-year, making it the second-highest in the last decade, only after the same period in 2021 [6] Group 5: Focus on Technology and Innovation - The launch of the "Tech Company Special Line" in May 2025 indicates a shift in the Hong Kong market towards technology innovation, facilitating the listing of high-potential tech companies [7] - The A-share market is expected to adopt a "new normal" in IPO issuance, focusing on high-quality tech companies that meet listing criteria, with macroeconomic conditions and market funds influencing the IPO rhythm [8] Group 6: Future Outlook for IPO Markets - The North Exchange is becoming a key player in IPO applications, reflecting its support for specialized small and medium enterprises, with expectations for expansion into emerging industries like artificial intelligence and cultural creativity [8] - The enthusiasm for companies from the A-share market to list in Hong Kong is expected to continue, driven by the establishment of the "Tech Company Special Line" and the return of Chinese companies to the U.S. market [8]

Core Viewpoint - Zhejiang Xinhengtai New Materials Co., Ltd. has received IPO acceptance from the Beijing Stock Exchange, focusing on the research, manufacturing, and sales of functional polymer foam materials [1] Company Overview - Xinhengtai specializes in functional polymer foam materials, with main products including PEFoam, IXPE, and MPP, and has established itself as a strong supplier in China with good product quality and brand reputation [1] - The company has developed efficient preparation technologies for a range of foam materials and has set up production lines in Vietnam and Thailand to expand its production capacity [2] Product Applications - Xinhengtai's products are utilized by well-known flooring manufacturers such as Aili Home, Haixiang New Materials, and Cainafu [2] - In the MPP sector, the company holds a leading market share in the new energy battery cushioning market and 5G microwave antenna market, with applications in products from major brands like CATL, BYD, and Huawei [2] Recognition and Achievements - The company has been recognized as a national-level "specialized, refined, distinctive, and innovative" small giant enterprise and has received multiple honors, including the Zhejiang Province Manufacturing Single Champion Cultivation Enterprise for 2024 [3] - Xinhengtai has established several research and development centers and has participated in drafting industry standards, holding 53 patents, including 21 invention patents [3] Financial Performance - The company's revenue for 2022, 2023, and 2024 was reported as 530.01 million yuan, 679.27 million yuan, and 774.22 million yuan, respectively, with net profits of 45.00 million yuan, 100.96 million yuan, and 91.76 million yuan [4] - The company aims to expand its applications into aerospace, semiconductors, biomedicine, and high-end equipment through its fundraising projects [4] Market Outlook - The Chinese polyethylene foam market is projected to grow from 1.976 billion USD in 2023 to 3.4 billion USD by 2028, with a compound annual growth rate of 9.04% from 2018 to 2023 [4] - The upcoming projects will address existing capacity bottlenecks, enhance market competitiveness, and promote green development [5]