撰稿|多客 来源|贝多财经 6月25日，上海商米科技集团股份有限公司（下称"商米科技"）在港交所递交了上市申请，德意志银行、中信证券和农银国际为其联席保荐人。 据商米科技介绍，该公司是一家商业物联网（BIoT）解决方案提供商，致力于为商用领域提供丰富的智能loT设备及相应配套的"端、云"一体化服务，与生 态伙伴构建万物互联的商业世界，最终实现商业4.0。 天眼查App信息显示，商米科技成立于2013年12月，前身为上海我有信息科技有限公司。目前，该公司的注册资本约为3.6亿元，法定代表人为林喆，主要股 东包括林喆、上海云鑫创业投资有限公司、上海汉涛信息咨询有限公司等。 自首次推出全球首款BIoT一体机V1以来，商米科技三年内即实现全球收入突破1亿美元的成就，在全球范围内崭露头角，成为十大行业参与者中最年轻的企 业，并在此后不断丰富商米BIoT软硬件产品生态。 但智能商用物联网"行业领导者"的光环，也使得商米科技业绩不稳、客户流失的问题被成倍放大。如何在安卓端BloT解决方案的竞争深水区中开创规模与质 量协同发展的新局，将成为市场留给商米科技的首要考题。 一、聚焦BIoT，万物互联覆盖全球 所谓商业物联网（BI ...

Core Insights - The Chinese smart toilet industry is rapidly developing and becoming an important part of the smart home sector, offering features such as heated seats, warm water washing, and automatic lid opening, enhancing user comfort and hygiene [1][8] - The market size for smart toilets in China reached 33.8 billion yuan in 2023, with a year-on-year growth of 6.4%, and sales volume reached 11.38 million units, up 18.0% [1][8] - Despite a projected contraction in market size in 2024 due to various factors, the long-term trend remains positive with increasing market penetration [1][8] Industry Overview - Smart toilets integrate electronic control systems for various functions, categorized into integrated and split designs, and can be further divided by heating methods and flushing types [2][3] - The industry has evolved from foreign brand dominance in the 1990s to a phase of domestic innovation, with significant growth observed from 2016 to 2020, where the compound annual growth rate exceeded 30% [4][8] Market Dynamics - The smart toilet market is experiencing a shift towards online sales channels, with e-commerce platforms becoming the primary sales avenue [12] - The competitive landscape features foreign brands dominating the high-end market, while domestic companies focus on mid-range products, and internet companies target the low-end market [16][18] Future Trends - The industry is moving towards high-quality development, with a focus on health monitoring and IoT integration, as well as personalized and elderly-friendly products [20][22] - The export market is expanding, particularly to countries along the "Belt and Road" initiative, creating new opportunities for growth [23]

Key Takeaways ARM trades at 85X forward earnings, far above the semiconductor industry's 33X average. Despite 30B chip shipments, ARM earned only 13 cents in revenue and 6.5 cents royalty per chip in FY24. Earnings estimates for ARM have declined over the past 60 days despite a 28% YTD stock surge.Arm Holdings plc (ARM) has attracted immense investor attention, thanks to its perceived position at the heart of the AI revolution, given that its architecture underpins a vast number of chips used in everythin ...

[Applause] [Music] Your mood changes every day and for many reasons. But do you know the causes. Today we're going to discuss something quite fascinating.The small microbes in our body and how they affect our mood. That's correct, Noah. When we think about our bodies, we think mostly about organs, muscles, and bones.But we're also a host of trillions of microbes, mostly bacteria, that are living inside of our body. These microbes aren't just along for the ride. They're actively involved in many processes of ...

Core Viewpoint - XOMA Royalty Corporation has entered into a definitive merger agreement to acquire Turnstone Biologics Corp for $0.34 in cash per share plus one non-transferable contingent value right (CVR) [1][3]. Group 1: Merger Agreement Details - The acquisition is unanimously approved by Turnstone's Board of Directors, which believes it is in the best interests of all stockholders [2]. - XOMA Royalty will commence a tender offer by July 11, 2025, to acquire all outstanding shares of Turnstone common stock, with the transaction expected to close in August 2025 [3]. - Approximately 25.2% of Turnstone stockholders have signed support agreements to tender their shares in the Offer [3]. Group 2: Company Profiles - XOMA Royalty is a biotechnology royalty aggregator that helps biotech companies by acquiring potential future economics associated with therapeutic candidates [5]. - Turnstone Biologics focuses on developing a differentiated approach to treat solid tumors through selected tumor-infiltrating lymphocyte therapy [6].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 出品：新浪财经上市公司研究院 作者：IPO再融资组/郑权 科创板铩羽三年后，背靠蚂蚁、美团、小米的物联网设备商上海商米科技集团股份有限公司（下称"商米科技"）转战港股，德意志银 行、中信证券和农银国际为联席保荐人。 与科创板申报期间的亏损不同，商米科技2022-2024年已经实现盈利。公司虽号称"全球最大安卓端BIoT提供商"，但"卖设备"收入占比 超98%，盈利模式较为单一。同时，毛利率低、依赖代工模式等问题依然存在，生产端依赖代工（成本占92%以上），导致成本控制能 力相对薄弱。 值得关注的是，在商米科技科创板IPO折戟后冲刺港股IPO前，已经有老股东减持套现，包括蚂蚁旗下的云鑫创投等。 自称"全球最大安卓端BIoT提供商" 但"卖设备"收入占比超98% 招股书显示，商米科技是商业物联网（BIoT）解决方案提供商，公司解决方案集成了智能硬件、软件及数据洞察，收入主要来自BIoT 解决方案（主要包括智能设备）的销售。 2021年6月，商米科技向A股科创板递交上市申请，拟募资10亿元。2022年3月，公司IPO终止，原因未公布。从上交所 ...

经济参考报 记者韦夏怡 | 报道 时隔半年，备受关注的AIoT（人工智能物联网）领域标杆企业特斯联更新了招股书，这也意味着公 司港股上市进程更进一步。 港股估值仍处于相对低位，恒生指数预测市盈率企稳于9倍以上，相比历史水平及其他市场具有一定 的估值优势，这意味着港股市场对潜在的企业盈利修复和政策信号更为敏感，具备较高的投资性价 比。而南向资金持续流入，以及外资对中国资产的兴趣抬升，都让港股市场备受关注。 2024年营收同比增长83.2% 年复合增长率领跑行业 根据最新招股书，紧抓市场机遇，依托于对空间智能应用场景的持续深耕及产品矩阵的快速迭代，特 斯联营收能力在2024年快速提升。数据显示，公司2024年营业收入为18.43亿元，相较2023年同 比增长83.2%。此前2023年、2022年营业收入分别为10.06亿元、7.38亿元。综合来看，2022年 至2024年，公司年复合增长率达58.0%，领跑AIoT行业。 值得注意的是，过去的2024年，特斯联降本增效也颇具成效。根据最新数据，公司2024年销售支出 占收入的比例由此前2023年13.2%降低至8.5%，同比下降4.7个百分点；销售费用、管理费用、 ...

星标 ★ IPO日报 精彩文章第一时间推送 以下文章来源于21世纪经济报道 ，作者21记者 21世纪经济报道 . 权威、专业、深度、有趣！用经济思维看世界。 今年以来，港股市场正迎来空前热度，记者注意到AI公司正掀起港股上市潮。 4月30日，特斯联更新招股书冲击港股IPO，并且公司升级"空间智能"战略，明确AIoT领域大模型、 基础设施及智能体三大业务线；6月12日，AI解决方案提供商云知声通过港股IPO聆讯；此前，还有群 核科技2月14日向港交所递交招股书，这家以AI和GPU技术驱动的空间智能企业，也是"杭州六小 龙"中的首个拟IPO企业。 同时，在自动驾驶细分赛道，有希迪智驾、驭势科技计划赴港上市；在AI机器人细分赛道，竞争显得 更加激烈，已经有酒店机器人头部公司云迹科技、视觉感知机器人公司乐动机器人、扫地机器人公司 石头科技、AI具身机器人独角兽卧安机器人等，密集递表港交所。 21世纪经济报道记者根据公开资料整理 "今年以来，DeepSeek的标志性崛起，带动了资本对于中国科技公司的价值重估，也为港股带来了新 的机遇和窗口期。同时，叠加18C等港股政策红利，让AI公司等大量科技公司纷纷选择赴港IPO。" ...

Xiaomi Corp May 8, 2025 09:00 PM GMT SU7 Ultra Kicks Off Xiaomi's Luxury Journey, PT Up to HK$62 | What's Changed | | | | --- | --- | --- | | Xiaomi Corp (1810.HK) | From | To | | Price Target | HK$45.00 | HK$62.00 | We believe the launch of Xiaomi's SU7 Ultra has kicked off its luxury car journey, and the launch of its second EV - YU7 - could also be a significant positive catalyst in 2025. Meanwhile, AIoT and smartphone divisions are seeing positive momentum. We raise our price target to HK$62. Xiaomi's s ...

Not for distribution to U.S. news wire services or dissemination in the United States WINNIPEG, Manitoba, June 26, 2025 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (the “Company” or “Kane Biotech”) announces that today it has completed its previously announced conversion (the “Transaction”) of an unsecured demand loan of $1 million from an insider of the Company into a $1 million principal amount 3% unsecured convertible debenture that is due on June 26, 2030 (the “Debenture”). For further details on ...