证券日报网讯12月30日，晶盛机电（300316）在互动平台回答投资者提问时表示，在光伏装备领域，公 司产品覆盖了硅片、电池和组件环节，为客户提供光伏整线解决方案，公司重视研发和新产品新技术的 开发，积极关注电池环节的各种新技术和新路线的发展，进展情况请关注公司后续的公开信息。 ...

证券日报网讯 12月30日，浙江鼎力在互动平台回答投资者提问时表示，公司一直高度重视研发创新， 近年来已通过"自主创新+技术合作"模式，持续深耕核心技术，不断推出新产品。对于主业相关的优质 资源和合作机遇，公司始终保持开放和积极的态度。 （文章来源：证券日报） ...

证券日报网讯12月30日，永利股份（300230）在互动平台回答投资者提问时表示，公司高度重视研发创 新，持续投入技术研发，稳步提高自主创新能力，以创新驱动公司高质量发展，提高公司核心竞争力。 2025年上半年，公司及控股子公司新增授权专利12项，其中发明专利7项、实用新型专利5项，并完成20 项专利的申请工作；下半年公司持续加强对新领域、新技术、新产品、新工艺的探索和创新，有关公司 研发情况请关注公司后续的定期报告。 ...

证券日报网12月30日讯，爱迪特（301580）在接受调研者提问时表示，毛利率是产品市场竞争力关键要 素，公司提高毛利率的主要策略是研发创新，通过新产品开发和上市获得差异化溢价；通过优化工艺以 及自动化生产提高制造品质和效率从而降低生产成本。另外，公司在供应链战略方面也在积极布局，与 供应商联动共同推动提质提效目标实现。 ...

2025.12. 30 本文字数：1869，阅读时长大约3分钟 作者 | 第一财经 黄思瑜 从首批25家拓荒者，到如今600家公司集结，科创板的融资规模也不断增加。截至12月30日，IPO募 集资金9557亿元，再融资募集资金2139亿元，合计超1.1万亿元。 清华大学国家金融研究院院长、清华大学五道口金融学院副院长田轩对第一财经称，600家企业集聚 科创板，不仅能形成显著的产业集群效应，更能通过上下游协同创新加速科技成果转化，形成相互促 进、共同发展的良好生态。同时，吸引更多的资本、人才等要素向硬科技产业集中，激励更多企业投 身于核心技术研发和创新。 研发投入持续加码 经过六年半的发展，科创板已成为中国硬科技企业上市首选地。 600家上市公司主要分布于新一代信息技术、生物医药、高端装备、新能源、新材料、节能环保等高 新技术产业和战略性新兴产业。其中，有389家公司入选国家级专精特新"小巨人"企业名录，65家公 司被评为制造业"单项冠军"示范企业，49家公司主营产品被评为制造业"单项冠军"产品，合计（去重 后418家）占板块公司总数的70%。 在多元包容的发行上市条件之下，科创板已支持60家未盈利企业、9家特 ...

在业绩方面，报告期期内（2022年、2023年、2024年以及2025年上半年）福恩股份营业收入波动明显，23年出现营收负增长，同样的在23年归母净利润出 现负增长，呈现先增后降的趋势，福恩股份预计25年营收较去年同期下降5.79%，扣除非经常性损益后归属于母公司股东的净利润较上年同期下降 16.86%，公司预测2025年度扣除非经常性损益后归属于母公司股东的净利润下滑，毛利率同样的也出现波动式下滑，23年和24年增长为负值，值得注意 的是，2025年1-6月，公司核心原材料坯布采购均价同比上涨5.82%，再生纱线采购均价上涨1.59%，成本上涨趋势明显，盈利空间被压缩，试问，还未上 市公司业绩就开始波动，并且预测营收利润都将出现下滑，这是否表明上市风险很大？另外，福恩股份来自终端客户的集中度相当高，而这些终端客户大 都是知名服装品牌商，如H&M、UNIQLO，来自这些前五大知名服装厂商的收入占比超过七成，甚至部分单一品牌商占比超过三成，而类似于这些品牌 商都会采取多供应商策略，频繁切换合作方，这是否会为公司未来带来许多的不确定性？ 值得注意的是，福分股份仅2022年一年分红达3.8亿元，而当年净利润仅2.7 ...

华生科技公告称，近日收到国家知识产权局颁发的发明专利证书。发明名称为"一种多层聚丙烯电容膜 的制备工艺"，专利号为ZL202511393806.6，申请日为2025年9月28日，授权公告日为2025年12月23日。 该专利获证体现公司研发创新能力，虽不会对近期经营产生重大影响，但利于发挥产品知识产权优势， 提升核心竞争力。 ...

Economic News - The State-owned Assets Supervision and Administration Commission emphasized the need for central enterprises to enhance budget management and cost control across all aspects of operations [2] - The National Development and Reform Commission and the National Energy Administration aim for a total installed capacity of 15 million kilowatts for solar thermal power by 2030, with costs comparable to coal power [2] - The Ministry of Housing and Urban-Rural Development proposed measures to promote the sale of existing homes and optimize affordable housing supply [2] - The General Administration of Customs conducted research on cutting-edge technology development and technology transfer [2] - The Hainan Free Trade Port has begun exporting self-produced goods with a value of 32,000 yuan, benefiting from over 12% cost savings [2] - The Shanghai Municipal Finance Bureau announced a subsidy for pig income insurance, with the municipal government covering 50% of the premium [2] - The U.S. economy showed a revised annualized GDP growth of 4.3% in Q3, exceeding expectations [2] - Japan reported a leak of radioactive water from a new reactor, with ongoing investigations into external radiation exposure [2] - Brazil confirmed anti-dumping duties on automotive glass from China, with specific rates for Malaysian producers [2] - South Korea's BC Card completed a pilot project for stablecoin payments, allowing foreign users to pay local merchants [2] Company Insights - Haibo Technology plans to invest 2 billion yuan in a smart green energy storage factory, expected to be completed by December 2028 [6] - Zhenyu Technology's subsidiary signed a strategic cooperation agreement to invest at least 1 billion yuan in projects related to new energy vehicle components and humanoid robots [6] - Huaxin Cement's major shareholder plans to increase its stake in the company by 200 million to 400 million yuan within six months [6] - Biological Shares' major shareholder intends to increase its stake by 50 million to 100 million yuan over the next year [6] Industry Strategy Agriculture Sector - The report suggests focusing on three main investment lines for the agriculture sector in 2026, with an emphasis on pig farming, feed, and pet food [7][9][10] - The pig farming industry is expected to see a gradual improvement in supply-demand dynamics, with a focus on cost management as a key factor for long-term growth [7] - The report highlights the potential for leading companies like Muyuan Foods to benefit from improved valuations and market conditions [8] Feed and Veterinary Medicine - The veterinary medicine sector is shifting towards innovation, with companies that prioritize R&D expected to thrive [9] - The feed industry is anticipated to see stable demand supported by high livestock inventory, with leading companies likely to gain market share [9] Pet Food Market - The domestic pet food market is projected to grow, with local brands gaining market share despite tariff disruptions [10][11]

Core Insights - The article discusses the rise and challenges of Swisse, a health supplement brand acquired by China's Health and Happiness Group (健合集团), highlighting its initial success in the Chinese market and the subsequent financial difficulties faced by the parent company [2][3][8]. Group 1: Company Background and Acquisition - Swisse was founded in Melbourne in 1969 and gained popularity in China post-2010 due to its branding as a natural product and effective marketing strategies [2][3]. - In 2015, Health and Happiness Group acquired 83% of Swisse for approximately AUD 1.386 billion, aiming to leverage the brand's Australian image to penetrate the burgeoning Chinese health supplement market [3][5]. - The acquisition coincided with favorable cross-border e-commerce policies in China and a strong consumer demand for overseas health products, providing an optimal entry point for Swisse [5]. Group 2: Market Strategy and Performance - Post-acquisition, Health and Happiness Group did not merely replicate Swisse's Australian model but adapted it to the Chinese market by focusing on high-potential categories like collagen and liver health products [5][7]. - By 2024, Swisse is expected to derive nearly 80% of its sales from cross-border e-commerce channels, with a strong online market share of over 7.5% in the VDS segment [7]. - Despite its strong market presence, Swisse's revenue growth has slowed, with the adult nutrition and care (ANC) segment showing only an 8.8% increase in 2024, down from previous high growth rates [10][11]. Group 3: Financial Challenges - Health and Happiness Group reported a revenue of RMB 13.05 billion in 2024, a decline of 6.3%, and a net loss of RMB 53.72 million, marking its first loss since going public [8][12]. - The ANC segment, while still a revenue pillar, has seen its growth rate decline, contributing only 48% to total revenue in the first three quarters of 2025 [11][12]. - The baby nutrition and care (BNC) segment has experienced a significant decline, with revenues dropping from RMB 5.18 billion in 2022 to RMB 3.33 billion in 2024, a 36% decrease [13][14]. Group 4: Operational and Competitive Challenges - The pet nutrition and care (PNC) segment has not yet become a significant revenue driver, contributing only 15% to total revenue in the first three quarters of 2025 [15]. - High marketing costs are eroding profits, with sales and distribution costs reaching RMB 2.883 billion in the first half of 2025, nearly four times the net profit for the same period [22][25]. - The competitive landscape in the Chinese health supplement market is intensifying, with local brands offering lower prices and international brands increasing their local operations, impacting Swisse's market share growth [29][30]. Group 5: Future Outlook - Swisse must innovate through research and development to maintain competitiveness, moving beyond reliance on brand equity and marketing [31]. - The ability of Health and Happiness Group to rejuvenate Swisse and cultivate new growth avenues will be crucial for navigating future challenges [32].

了解本次路演活动，请点击：https://rs.p5w.net/html/176473293926229.shtml 路演现场，公司方在回复投资者提问时表示，公司高度重视研发创新，持续加大研发投入，不断引进研 发人才。2022年至2025年1-3月，公司研发费用分别为3,406.96万元、4,394.05万元、5,411.17万元、 1,016.53万元，占营业收入的比例分别为3.30%、3.87%、3.77%、3.01%。在研发成果方面，截至2025年 3月公司已取得发明专利20项、实用新型183项。公司除通过研发部门进行自主技术研发，还与高等科研 院所积极开展合作研发。 纳百川新能源股份有限公司首次公开发行股票并在创业板上市网上路演于2025年12月5日（星期五） 14:00-17:00在全景路演成功举行。 ...