蒙草生态（300355）公告，拟通过向特定对象发行A股股票募集资金不超过14.95亿元，发行股票数量不 超过公司发行前总股本的30%。募集资金将用于三北工程及防沙治沙项目、生态景观提升项目、草业技 术创新中心综合项目及补充流动资金。本次发行定价基准日为发行期首日，发行价格不低于定价基准日 前20个交易日公司股票交易均价的80%。本次发行尚需公司股东大会审议通过、深圳证券交易所审核通 过并经中国证监会同意注册。 ...

敏芯股份(688286.SH)于2024年交出了一份增收不增利的成绩单，公司归母净利润已连亏三年，累亏金 额近2亿元。 证券之星李若菡 证券之星注意到，在支柱业务声学传感器收入下滑的背景下，公司营收增长靠压力传感器业务的拉动， 但这背后却是以价换量的结果。随着营收的增长，公司的存货同步攀升，导致公司现金流承压。同时， 中间商环节挤压利润，导致公司的毛利率低于同行。亏损之下，公司大股东及高管接连减持的行为加剧 了市场对公司发展前景的担忧。 目前，公司再抛新一轮定增计划，但公司前募集资金尚未使用完毕，且首发募投项目效益不佳的背景 下，公司本轮融资的必要性存疑。 支柱业务收入下滑，压力传感器以价换量 2024年年报显示，敏芯股份全年实现营业总收入5.06亿元，同比增长35.71%；归母净利润为-3523.57万 元，同比亏损有所收窄。实际上，自2022年起，公司便一直处于亏损状态，三年累计亏损金额为1.92亿 元。 作为MEMS芯片供应商，公司目前主要产品线包括MEMS声学传感器、MEMS压力传感器和MEMS惯性 传感器，产品主要用于消费电子、汽车和医疗领域。 证券之星注意到，敏芯股份2024年营收增长主要靠压力传 ...

联合研究丨公司深度丨时代新材（600458.SH） [Table_Title] 厚积薄发，新材料平台型龙头崛起 %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 时代新材是央企中国中车旗下的新材料产业平台，长期积累底蕴深厚，近年进一步彰显竞争力， 轨交&工业工程稳居龙头，风电叶片规模及盈利能力快速追赶，汽车业务实现扭亏为盈。展望 2025 年各板块继续成长：风电有望受益装机高景气之下的量价齐升，贡献最大利润弹性；新材 料产业园竣工，产业孵化渐成；汽车板块有望继续夯实扭亏成果，中长期成长空间广阔。 分析师及联系人 [Table_Author] 范超 邬博华 赵智勇 SAC：S0490513080001 SAC：S0490514040001 SAC：S0490517110001 SFC：BQK473 SFC：BQK482 SFC：BRP550 张佩 李浩 司鸿历 SAC：S0490518080002 SAC：S0490520080026 SAC：S0490520080002 SFC：BUD284 董超 屈奇 周圣钧 SAC：S049052 ...

Core Viewpoint - The management of Lite-On Optoelectronics has undergone significant changes, with five directors resigning amid ongoing share reductions by major shareholders, which raises concerns about the company's governance and future direction [1][2][3] Management Changes - Five directors, including Xue Zhen and Dong Zhenhua, have collectively resigned, with two being recommended by major shareholders [1][2] - The board is being restructured to reduce the number of directors from 11 to 7, indicating a shift in governance strategy [2] Shareholder Activity - Major shareholders Junlian Chengye and Junlian Huicheng have reduced their combined shareholding from 9.48% at IPO to 3.9% as of March 2025, following the expiration of their lock-up period [1][3] - The reduction in shareholding coincides with the management changes, suggesting potential instability or lack of confidence in the company's future [1][3] Fundraising and Project Delays - The company plans to raise up to 300 million yuan through a simplified procedure for specific projects and to supplement working capital, with shareholder approval already obtained [1][4] - The "OLED Terminal Material R&D and Industrialization Project" has faced two delays, now expected to be completed by August 2026, with less than 50% of the investment progress made as of November 2024 [1][4][6] Financial Performance - Lite-On Optoelectronics reported a revenue of 472 million yuan in 2024, a year-on-year increase of 56.9%, and a net profit of 167 million yuan, up 117.17% [4] - In Q1 2025, the net profit reached 60.87 million yuan, reflecting a growth of 39.90% compared to the previous year [4] Production Capacity and Market Response - As of the end of 2024, the company has established an annual production capacity of 12 tons for OLED terminal materials, with plans to continue expanding capacity in line with market demand [5] - Despite the high growth in sales revenue, the company has faced scrutiny regarding its ability to meet production timelines and manage project delays effectively [5][6]

业绩持续亏损、资产负债率居高不下，獐子岛抛出定增大招"输血"。 5月22日深夜，獐子岛连发10多份公告宣布定增相关事宜引发关注。相关公告显示，獐子岛计划定增募 资不超过52186.33万元，用于补充流动资金及偿还银行借款。本次定增完成后，獐子岛的控股股东将由 盐化集团变更为海发集团。 5月23日，獐子岛董事会秘书阎忠吉在业绩说明会上表示："预计本次发行完成后，公司的总资产和净资 产金额增加，资产负债率降低，公司流动比率和速动比率将得到改善，短期偿债能力增强。" 为增加公司利润，獐子岛还于4月份发布公告拟对外挂牌出租部分资产，公司称若以评估备案价值出租 成交，预计公司每年可回收流动资金839.68万元，增加利润约792.15万元，增加净资产约792.15万元。 截至5月23日收盘，獐子岛股价为4.05元/股，下跌1.46%，公司总市值约为28.8亿元。 定增募资5亿多背后 公司负债超21亿 根据獐子岛发布的2025年度向特定对象发行A股股票预案，公司拟向特定对象发行募集资金总额不超过 人民币52186.33万元，扣除相关发行费用后，全部用于补充流动资金及偿还银行借款。 募资背后，是獐子岛居高不下的负债。2022 ...

云中马（603130）5月23日晚间披露定增预案，拟募资不超过6.4亿元，用于年产13.5万吨DTY丝及12万 吨高性能革基布坯布项目。 本次发行对象为不超过35名特定投资者，包括符合证监会规定条件的证券投资基金管理公司、证券公 司、信托投资公司、财务公司、保险机构投资者、合格境外机构投资者以及其他符合法律法规规定的法 人、自然人或其他机构投资者。发行价不低于定价基准日前20个交易日股票交易均价的80%，发行股数 不超过4125.43万股，不超过本次发行前公司总股本的30%。 云中马表示，该项目扩大了公司高性能革基布坯布产能，解决公司坯布产能瓶颈，从源头DTY丝开始 把控产品质量稳定性，提升公司产品市场竞争力，从而进一步巩固和提升公司在行业内的地位。 同时，本次定增完成后，公司总资产与净资产规模将同时增加，有利于增强公司抵御财务风险的能力， 进一步优化资本结构，降低财务成本和财务风险，增强未来的持续经营能力。 本次发行前，公司实控人叶福忠及其一致行动人持有公司63.43%的股份。按照增发股数的上限测算， 本次发行完成后，叶福忠及其一致行动人持有公司48.80%的股份，叶福忠持有公司34.78%的股份，仍 为公 ...

Key Points - China Shipbuilding Industry Corporation plans to achieve operating revenue exceeding 60 billion yuan by 2025, with a record high backlog of orders exceeding 1.4 billion yuan and over 30 million deadweight tons of civil ship orders [2] - The company has a production schedule extending to the end of 2028, with 90% of new orders being bulk orders for main ship types and nearly 60% of civil ship orders being green ship types [2] IPO Issuance Dynamics - Chao Hong Ji is planning to issue H-shares on the Hong Kong Stock Exchange, with details yet to be determined, while its operational status remains normal [4] - Zhaoyi Innovation intends to issue H-shares and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders and market conditions [5] Refinancing Dynamics - Jiu Hua Tourism plans to issue A-shares to specific investors, raising up to 500 million yuan for various projects, including upgrades to hotel facilities and transportation equipment [7] - Yue Gui Co. intends to raise up to 900 million yuan through a private placement of A-shares for several development projects [8] Regulatory Compliance Dynamics - Star Technology received a regulatory letter from the Shenzhen Stock Exchange for inaccurate revenue recognition in its financial reports, affecting reported revenues by 12 million yuan and 170 million yuan for the half-year and third-quarter reports, respectively [10] - ST Huaxi's controlling shareholder has been detained and is under investigation, but the company's operations remain normal [11] Company Announcements - Jie Hua Te plans to acquire a 40.89% stake in Tianyi Hexin for 319 million yuan, enhancing its product line in the signal chain category [14] - Zhongjin Environment has changed its name to "Nanfang Pump Industry," aligning its name with its main business [15] - Yi He Jia Ye has changed its name to "Rui Mai Te," reflecting its business and development strategy [16] - Zhongnong Lihua intends to acquire at least 50% of Taizhou Agricultural Resources, which will become a subsidiary [17] - Weiling Co. successfully acquired a 74.3% stake in Jiayu Mining for 220 million yuan, expanding its presence in the non-ferrous metal resources sector [18] - Yuanxing Energy has changed its name to "Bohua Chemical," aligning its name with its main business [19] - Gansu Energy reported a safety incident at its Wangjiashan coal mine, resulting in three fatalities, but overall operations remain unaffected [20] - Huili B's stock may be delisted due to a market capitalization below 300 million yuan [21] - Kangda New Materials plans to sell a 51% stake in Chengdu Biko Technology for 188 million yuan, constituting a related party transaction [22] - Andeli has terminated its plan to issue A-shares due to the disqualification of its securities service provider [23]

延期一年后，林州重机集团股份有限公司（002535.SZ，以下简称"林州重机"）2023年度定增计划仍以 终止收场。 日前，林州重机发布公告称，公司决定终止2023年度非公开发行股票事项。同时，林州重机披露其2025 年度定增募资预案。 若按此次发行上限计算，郭浩、郭钏认购林州重机1.8亿股后，该公司控股股东、实控人及其一致行动 人合计持股比例将增至50.62%，触发《上市公司收购管理办法》规定的要约收购义务。因此，郭浩、 郭钏两人承诺自发行结束之日起三年内不转让本次向其发行的新股。 不过，林州重机方面指出，公司股东大会批准郭浩、郭钏免于发出要约系本次发行的前提，如公司股东 大会最终未通过前述事项，则本次发行将相应终止。 因此，林州重机董事会提请股东大会批准认购对象免于发出要约。林州重机方面表示，本次发行尚需经 公司股东大会审议通过，关联股东将在股东大会上回避表决。 《中国经营报》记者注意到，林州重机2023年度定增募资事项于2023年5月经其2022年度股东大会审议 通过，相应授权有效期延长一年后本应于今年5月底到期。有效期临近背景下，林州重机选择终止2023 年度定增，并同时发布2025年度定增预案，计划 ...

（原标题：上市公司动态 | 百济神州一季度亏损收窄，昊海生科实控人内幕交易被立案） 重点要闻 百济神州一季度亏9450.3万元 百济神州(688235.SH)发布2025年第一季度主要财务数据公告。 2025年第一季度公司产品收入为79.85亿元，较上年同比上升49.9%；2025年第一季 度公司营业总收入为80.48亿元，较上年同比上升50.2%；2025年第一季度归属于母公司所有者的净利润为-0.95亿元。报告期末，公司总资产为 421.26亿元，较期初减少1.7%；归属于母公司的所有者权益为252.06亿元，较期初增加4.3%。 产品收 入的增长主要得益于公司自研产品百悦泽®（泽布替尼胶囊）,以及百泽安®（替雷利 珠单抗）和安进授权产品的销售增长。 其中，百悦泽®全球销售额总计56.92亿元，同比增长63.7%，在血液肿瘤领域进一步巩固领导地位。其中，美国销售额总计40.41亿元，同比增长 61.9%，主要得益于需求的增长，其中超过60%的季度环比增长来自于在慢性淋巴细胞白血病（CLL）适应症中使用的扩大；欧洲销售额总计8.36 亿元，同比增长75.4%，主要得益于该产品在所有欧洲主要市场的市场份额提升 ...

软通动力（301236）公告，拟定增募资不超过33.78亿元，用于京津冀软通信创智造基地项目、AIPC智 能制造基地项目、软通动力怀来智算中心(一期)建设项目、计算机生产车间智能升级技术改造项目。 ...