获颁本次荣誉，不仅有助于提升集团研发和技术创新品牌影响力，亦为集团进一步拓展大健康领域市场 奠定坚实基础。公司将继续大力支持旗下附属公司技术创新与产业化发展，积极扩展优质业务，提升竞 争力，为公司股东创造更大价值。 其中，中生医疗(合肥)自主研发的四光二十一色BioCyteX(临床)高端流式细胞仪已正式获证(皖械注准 20252220150)，是国内首款获得四光高端流式细胞仪注册证的国产品牌产品。该产品性能达国产顶配水 准，比肩国际进口品牌，亦宣告国产流式在尖端领域取得实质性突破，积极响应国家"国产替代"号召。 产品采用四个精密半导体激光器协同工作，可同步激发21种荧光染料并获取24项关键参数，其检测灵敏 度、分辨率与稳定性均达到国际领先水平，满足临床高复杂度免疫分型、微小残留病(MRD)监测等核心 需求。此次BioCyteX流式细胞仪的成功获批，标志着国产流式在复杂光路设计、多色荧光解析等领 域，实现从"跟跑"到"并跑"的关键突破。 中生医疗(合肥)自2022年落户合肥经开区以来，依托区内优质创新资源加速成长，并在高端流式细胞仪 及配套试剂研发、市场推广等方面取得多项突破。该公司产品现已取得多项国家级及国际 ...

中生医疗(合肥)自2022年落户合肥经开区以来，依托区内优质创新资源加速成长，并在高端流式细胞仪 及配套试剂研发、市场推广等方面取得多项突破。该公司产品现已取得多项国家级及国际医疗器械认 证，业务覆盖全国31个省市自治区，并拓展至海外市场。 获颁本次荣誉，不仅有助于提升集团研发和技术创新品牌影响力，亦为集团进一步拓展大健康领域市场 奠定坚实基础。公司将继续大力支持旗下附属公司技术创新与产业化发展，积极扩展优质业务，提升竞 争力，为公司股东创造更大价值。 其中，中生医疗(合肥)自主研发的四光二十一色BioCyteX(临床)高端流式细胞仪已正式获证(皖械注准 20252220150)，是国内首款获得四光高端流式细胞仪注册证的国产品牌产品。该产品性能达国产顶配水 准，比肩国际进口品牌，亦宣告国产流式在尖端领域取得实质性突破，积极响应国家"国产替代"号召。 产品采用四个精密半导体激光器协同工作，可同步激发21种荧光染料并获取24项关键参数，其检测灵敏 度、分辨率与稳定性均达到国际领先水平，满足临床高复杂度免疫分型、微小残留病(MRD) 监测等核 心需求。此次BioCyteX 流式细胞仪的成功获批，标志着国产流式在复杂 ...

Core Viewpoint - Tianjin Atongmu Robot Co., Ltd. has officially submitted its prospectus to the Hong Kong Stock Exchange, marking its entry into the capital market as a leading player in the parallel robot sector [1][4]. Company Overview - Atongmu Robot has maintained the largest market share among domestic brands in China's parallel robot market for five consecutive years since 2020 [4]. - In 2024, Atongmu Robot ranked second globally in the parallel robot market with a 4.8% market share, only behind ABB, showcasing its strong technical capabilities and market position [4]. - The company was established in January 2013 as Chensheng (Tianjin) Automation Equipment Co., Ltd. and transitioned to a joint-stock company in September 2025, changing its name to Tianjin Atongmu Robot Co., Ltd. [4]. Technological Development - The company leverages cutting-edge research resources from Tianjin University and Beihang University, focusing on the development of parallel robots, high-speed SCARA robots, collaborative robots, embodied intelligent robots, and key control systems [5]. - Atongmu Robot's products cater to automation and intelligence needs in various industries, including food and beverage, daily chemicals, pharmaceuticals, new energy, 3C, and automotive sectors [5]. - In June 2025, the company launched Tianjin's first embodied intelligent robot, "Tianbing No. 1 ATOM01," indicating its commitment to innovation and industry upgrades [5]. Market Insights - According to Frost & Sullivan, China's industrial robot market is projected to grow from CNY 31.4 billion in 2020 to CNY 46.6 billion in 2024, with a compound annual growth rate (CAGR) of 10.3% [6]. - The global parallel robot market is expected to reach CNY 7.8 billion by 2029, with the Chinese market accounting for approximately CNY 1.9 billion [6]. - The high technical barriers in the parallel robot sector provide established companies like Atongmu Robot with competitive advantages, especially during the domestic substitution phase in China's manufacturing industry [6].

正常的投资退出行为，长期陪伴产业成长、助力国产替代的战略方向并未改变。 开年以来，国家集成电路产业投资基金（下称"国家大基金"）在半导体板块的减持动作持续受到市场关 注。2月8日晚间，安路科技（688107.SH）发布公告称，股东大基金一期拟在未来三个月内减持不超过 公司总股本的2%。这已是安路科技自2025年以来第三次迎来大基金的减持计划。 与此同时，沪硅产业（688126.SH）、泰凌微（688591.SH）、慧智微（688512.SH）等多家半导体公司 也在近期相继披露了大基金的最新减持进展或计划。从已公布的信息来看，大基金一期、二期均有减持 操作，涉及公司多为已上市多年的半导体产业链企业。 尽管短期内减持动作频繁，但业内普遍认为，这是大基金作为产业投资基金的正常投资退出行为，长期 陪伴产业成长、助力国产替代的战略方向并未改变。 大基金多次减持安路科技、沪硅产业 在近期公告大基金减持计划或减持进展的半导体上市公司中，沪硅产业与安路科技都是在近半个月内迎 来二度减持。 截至公告日，大基金一期持有安路科技2295.45万股股份，占公司总股本的5.73%，均为IPO前取得。此 次减持计划显示，大基金拟在公告披 ...

Core Viewpoint - The National Integrated Circuit Industry Investment Fund (referred to as "National Big Fund") has been actively reducing its holdings in the semiconductor sector since the beginning of the year, which has drawn significant market attention [1] Group 1: Fund Reduction Activities - On February 8, Anlu Technology (688107.SH) announced that the Big Fund Phase I plans to reduce its holdings by no more than 2% of the company's total share capital within the next three months [1] - This marks the third time since 2025 that Anlu Technology has faced a reduction plan from the Big Fund [1] - Other semiconductor companies such as Hu Silicon Industry (688126.SH), Tailin Micro (688591.SH), and Huizhi Micro (688512.SH) have also recently disclosed the latest reduction progress or plans from the Big Fund [1] Group 2: Long-term Strategy - Despite the frequent short-term reduction activities, the industry generally views this as a normal exit behavior for an investment fund, indicating that the strategic direction of supporting domestic growth and facilitating domestic substitution remains unchanged [1]

开年以来，国家集成电路产业投资基金（下称"国家大基金"）在半导体板块的减持动作持续受到市场关 注。2月8日晚间，安路科技（688107.SH）发布公告称，股东大基金一期拟在未来三个月内减持不超过 公司总股本的2%。这已是安路科技自2025年以来第三次迎来大基金的减持计划。 与此同时，沪硅产业（688126.SH）、泰凌微（688591.SH）、慧智微（688512.SH）等多家半导体公司 也在近期相继披露了大基金的最新减持进展或计划。从已公布的信息来看，大基金一期、二期均有减持 操作，涉及公司多为已上市多年的半导体产业链企业。 尽管短期内减持动作频繁，但业内普遍认为，这是大基金作为产业投资基金的正常投资退出行为，长期 陪伴产业成长、助力国产替代的战略方向并未改变。 大基金多次减持安路科技、沪硅产业 在近期公告大基金减持计划或减持进展的半导体上市公司中，沪硅产业与安路科技都是在近半个月内迎 来二度减持。 截至公告日，大基金一期持有安路科技2295.45万股股份，占公司总股本的5.73%，均为IPO前取得。此 次减持计划显示，大基金拟在公告披露之日起15个交易日后的3个月内，通过集中竞价或大宗交易方式 减持不超过 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 自願公告 合肥附屬公司榮獲2025年度「科創新星企業」稱號 本公告乃由中生北控生物科技股份有限公司（「本公司」，與其附屬公司統稱為「本 集團」）自願作出，旨在向本公司股東及投資者提供最新資訊。 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2026年2月4日舉行的合肥經濟技 術開發區2026年企業新春團拜會上，本公司間接非全資附屬公司－中生醫療科技（合 肥）有限公司（「中生醫療（合肥）」）憑藉其於體外診斷領域的創新實力及穩健發展 潛力，被授予「2025年度合肥經濟技術開發區科創新星企業」榮譽稱號。該榮譽由 合肥經開區黨工委及管委會授出，是對中生醫療（合肥）過往科技創新成果的權威 肯定，亦彰顯其未來發展潛力。 其中，中生醫療（合肥）自主研發的四光二十一色BioCyteX（臨床）高端流式細胞 儀已正式獲證（皖械注准20252220150)，是國內首款獲得四光高端流式細胞儀註冊 證的國產品牌產品。該產品性 ...

Core Viewpoint - The company is focusing on enhancing its product series and expanding into new application areas by collaborating with research institutions and responding to market demands [1] Group 1 - The company aims to achieve breakthroughs in fields such as life sciences, semiconductors, rare and precious metal separation and extraction, and nuclear-grade resins [1] - The company emphasizes its commitment to comply with relevant laws and regulations regarding information disclosure [1] - The company will announce any significant matters that meet disclosure standards in a timely manner [1]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1][9]. Core Insights - The company has shown steady revenue growth, with a reported revenue of 233 million yuan for the first three quarters of 2025, reflecting a year-on-year increase of 3.48%. However, net profit attributable to shareholders decreased by 4.79% to 14 million yuan due to short-term impacts from share-based payments [4]. - The company focuses on independent innovation, with its products filling domestic technological gaps. Key technology indicators of its products are at a leading domestic and advanced international level, showcasing strong potential for domestic substitution [5]. - The company is expanding its market presence through collaborations with leading international and domestic firms, enhancing its core competitive barriers. Notable products like the QT-8400 series have made significant technological breakthroughs and are entering important customer supply chains [6]. - The company is accelerating the development of high-performance SoC testing machines, capitalizing on the growing demand for domestic alternatives in the high-end SoC testing market [7]. Financial Projections - Revenue projections for the company are estimated at 360 million yuan in 2025, 600 million yuan in 2026, and 1 billion yuan in 2027, with corresponding net profits of 36 million yuan, 122 million yuan, and 246 million yuan respectively [8][11]. - The company is expected to achieve a significant growth rate of 66.94% in 2026 and 65.46% in 2027 [11]. - The earnings per share (EPS) is projected to increase from 0.51 yuan in 2025 to 3.49 yuan in 2027 [11]. Relative Valuation - The company is positioned in the semiconductor backend testing equipment sector, with a focus on automated testing systems and laser marking equipment. It has successfully achieved import substitution in power semiconductor testing systems and is among the few Chinese semiconductor equipment companies to penetrate the international testing market [14]. - The report references a relative valuation analysis with a projected price-to-sales (P/S) ratio of 23.04x for 2025, supporting the "Buy" rating [14][15].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [5][10]. Core Insights - The company is strategically investing in core assets, which may lead to temporary profit pressure. It is projected to incur a net loss attributable to shareholders of between -12 million to -6 million yuan in 2025, primarily due to increased investments in key resources, advanced capacity, and talent reserves [3][5]. - The company has successfully completed its domestic and international capacity layout in Shenyang, Nantong, Beijing, and Singapore, significantly increasing its fixed asset scale to approximately 4.9 billion yuan, a growth of about 3.5 billion yuan compared to 2022 [4]. - The company is focusing on advanced process development, with new projects such as gas distribution plates and special coatings already validated and in mass production [4][10]. - The company is expected to achieve revenues of 3.75 billion, 5 billion, and 7 billion yuan in 2025, 2026, and 2027 respectively, with a projected net profit of -0.08 billion, 0.3 billion, and 0.66 billion yuan for the same years [5][9]. Financial Projections - Revenue is projected to grow at rates of 47.14%, 23.48%, 33.49%, and 39.80% for the years 2024, 2025, 2026, and 2027 respectively [9][12]. - The company’s EBITDA is expected to increase from 507.87 million yuan in 2024 to 1.41 billion yuan in 2027 [9]. - The net profit attributable to shareholders is forecasted to recover from a loss of 7.9 million yuan in 2025 to a profit of 660.43 million yuan in 2027, reflecting a significant turnaround [9][12].