而立讯精密则借此实现了一次重大突破。通过此次收购，立讯精密一举获得闻泰科技在手机、平板、笔 电、 IoT 等领域的完整 ODM 研发制造体系，补足了其长期以来 " 只有代工组装能力，缺乏系统研发集 成能力 " 的核心短板。这意味着立讯精密不仅将闻泰科技高达 500 多亿营业额的 ODM 集成业务纳入麾 下，更一举获得了闻泰科技二十年积累的深厚技术与生产实力。从主板集成到芯片研发与生产，从软件 研发与适配到整机的研发、生产、代工，闻泰科技在消费电子产品领域的全链条能力，都成为了立讯精 密的 " 新武器 " 。 立讯精密的业务版图由此发生了翻天覆地的变化。在横向维度上，其业务范围一举扩展到手机、平板、 电脑、服务器、车机等全品类算力终端产品。这意味着，未来无论是人们日常使用的智能设备，还是数 据中心的核心服务器，亦或是汽车中的智能车机系统，立讯精密都有能力参与制造。而在纵向层面，立 讯精密能够实现从元器件研发，到主板集成，再到软硬件一体化方案的全线贯通。至此，立讯精密距离 打造一个涵盖终端品牌的大电子制造业航母平台，仅一步之遥。此次收购，标志着立讯精密在制造业完 成了一次华丽的蜕变。 近日，一则重磅消息在消费电子 ...

本报讯 （记者丁蓉见习记者张美娜）近日，广东绿通新能源电动车科技股份有限公司（以下简称"绿通 科技"）发布公告显示，公司拟筹划以现金方式收购江苏大摩半导体科技有限公司（以下简称"大摩半导 体"）不低于51%的股权，本次交易完成后，预计绿通科技将实现对大摩半导体的控股。 据了解，大摩半导体专注于集成电路及半导体晶圆量检测领域，致力于为全球客户提供再制造、升级改 造与技术服务、自研设备的综合解决方案，处于量检测修复领域第一梯队，主要通过提供高稳定性、品 类丰富的前道量检测修复设备、配件及技术服务来满足客户的全方位需求，其自研设备亦有较大突破， 部分设备处于客户验证阶段。 目前大摩半导体的产品覆盖了明暗场缺陷检测设备、套刻仪、缺陷分析扫描电镜、线宽扫描电镜等主流 品类，主要适用于6至12英寸晶圆生产线，最高可支持14nm半导体设备制程工艺。终端客户有众多境内 外知名客户。 据了解，受众多因素影响，绿通科技主营业务面临的市场竞争日益激烈，行业发展逐渐触及天花板，寻 找新的增长引擎已成为公司实现可持续发展的必经之路。在政策支持与自身需求的双重驱动下，切入半 导体赛道有望为绿通科技发展打开第二增长曲线。 据公司公告称，如 ...

Financial Data and Key Metrics Changes - Non-GAAP earnings per diluted share increased to $0.19 from $0.12 year-over-year, exceeding guidance [13][37] - Net sales for the quarter were $584 million, down from $610 million in the same period last year, aligning with expectations [35] - Gross margin percentage was 42.2%, slightly down from 42.5% in the previous year [35][36] - Non-GAAP net income for the first quarter was $8.4 million compared to $5.8 million in the previous year [37] - Ending cash and availability was approximately $740 million, indicating a strong financial position [13][38] Business Line Data and Key Metrics Changes - Wholesale segment net sales decreased to $563 million from $598 million year-over-year [35] - Retail segment net sales increased to $36 million from $31 million in the previous year [35] - Key owned brands, including DKNY, Karl Lagerfeld, and Donna Karan, experienced double-digit growth, offsetting losses from exited businesses [5][14] Market Data and Key Metrics Changes - International markets are seen as significant growth opportunities, particularly in Europe [14][22] - The brand Donna Karan saw nearly 50% sales growth, with strong performance in dresses and suit separates [15][16] - DKNY and Karl Lagerfeld also reported strong sales growth, particularly in North America and Europe [20][22] Company Strategy and Development Direction - The company is focused on driving growth through its owned brands, which are expected to be sustainable long-term profit drivers [13][14] - Strategic initiatives include sourcing diversification, vendor negotiations, and selective price increases to mitigate tariff impacts [7][39] - The company is also enhancing its omni-channel capabilities and optimizing its global store footprint [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the consumer environment despite macroeconomic uncertainties [6][33] - The potential unmitigated tariff impact for fiscal 2026 is estimated at approximately $135 million, with ongoing efforts to mitigate this through various strategies [7][39] - The company remains committed to investing in key owned brands and growth initiatives despite challenges [12][33] Other Important Information - The company successfully renegotiated favorable lease terms for corporate offices and is streamlining its warehouse network [11] - The planned relaunch of the Sonya Riquel brand was postponed due to uncertainties in the operating environment [12][54] Q&A Session Summary Question: Pricing Power and Areas for Price Increases - Management indicated strong cooperation from retailers in adjusting pricing, focusing on areas where consumers will accept price increases [45][46] Question: Impact of Sonya Riquel Postponement on Guidance - The decision to postpone the Sonya Riquel launch was made to avoid losses, but strength in other brands allows the company to maintain its sales guidance [53][54][75] Question: Inventory Levels and Supply Chain Challenges - Inventory levels are expected to align with sales growth, with management actively managing inventory purchases in light of supply chain disruptions [78][80] Question: Promotions and Consumer Demand - Management does not anticipate significant pressure on promotions, citing strong demand for their products and effective management of inventory levels [84][85]

$$\begin{array}{l}{{\mathcal{L}}_{a}}\\ {{\mathfrak{H}}_{b}}\end{array}$$ 议 材 料 二○二五年六月二十七日 目 录 （七）审议《关于续聘立信中联会计师事务所（特殊普通合伙）为公司 2025 年 会议时间：2025 年 6 月 27 日（星期五）下午 14:00 开始 会议地点：福建省福州市仓山区浦下洲路 5 号冠城大通广场 1 号楼 C 座三层 会议议程： 一、全体与会股东或股东代表、列席会议的董事、监事、高管签到 二、见证律师确认与会人员资格 三、宣布会议开始 四、报告、审议本次股东大会相关议案 务及内部控制审计机构的议案》 五、听取《独立董事 2024 年度述职报告》 六、股东或股东代表进行讨论 七、与会股东与股东代表投票表决议案 八、统计并宣布现场表决结果 九、休会，等待接收网络投票结果 十、网络投票结果产生后，宣布本次股东大会现场投票和网络投票合并后的 表决结果 十一、见证律师确认总表决结果，出具法律意见书 十二、通过会议决议 十三、宣布会议结束 一、报告、审议本次股东大会相关议案 （一）审议《公司 2024 年度董事会工作报 ...

Group 1 - The core point of the announcement is that Shunfa Hengye's wholly-owned subsidiary, Shunfa Nengcheng, will increase its registered capital by converting capital reserves and subsequently reduce its registered capital, optimizing resource allocation and aligning with the company's strategic development needs [1][2]. - Shunfa Nengcheng's registered capital will change from 23.00 billion RMB to 15.00 billion RMB after the capital reserve conversion, with the company maintaining a 100% ownership stake [1][2]. - The decision to reduce capital is based on the strategic shift away from traditional real estate development, allowing the company to recover 22.50 billion RMB in excess funds [2]. Group 2 - The impact of this capital adjustment is expected to enhance the company's resource allocation and business development capabilities, aligning with long-term goals and shareholder interests without significantly affecting the company's consolidated financial statements or normal operations [2]. - In the fiscal year 2024, Shunfa Nengcheng reported revenues of 15,237.83 million RMB and a net profit of 6,452.24 million RMB, indicating its operational performance prior to the capital changes [1].

作为国产激光医疗设备领域的代表企业，奇致激光近年来的发展轨迹折射出行业转型的阵痛。尽管背靠 新氧控股的资本加持，且长期以"光子嫩肤第一股"占据细分市场，但2024年以来的财报数据与战略调整 暴露出多重经营风险——从北交所上市计划的突然撤回、核心高管集体离职，到医美标签弱化与市场竞 争加剧，这家曾经的行业标杆企业正面临技术路径、资本叙事与市场定位的多重拷问。 2024年，奇致激光营业总收入为2.7亿元，较去年同期增长0.30%，净利润为3319.04万，较去年同期下 滑38.81%， 战略转型困局：资本叙事断裂与医美依赖症 奇致激光的困境始于其战略转型的摇摆不定。公司曾试图通过北交所上市剥离"医美"标签，转向皮肤 科、泌尿外科等严肃医疗领域，但这一转型并未获得资本市场认可。撤回IPO的背后，不仅是监管对医 美行业的审慎态度，更暴露了其业务逻辑的深层矛盾：虽然刻意弱化医美收入占比，但终端客户中仍存 在大量医美机构，且核心产品仍高度依赖光子嫩肤等消费医疗场景。这种"去医美化"的尝试反而让公司 陷入身份认知混乱，既未完全摆脱政策风险，又错失了在医美领域深耕技术壁垒的机会。 更严峻的是，资本叙事断裂加剧了内部动荡。新氧 ...

文 | 锦缎 低迷期中的隆基绿能(SH:601012)，迎来了难得的荣耀时刻——光伏军团市值瀑布杀之后，其市值仍然相当于晶科、天合和晶澳另三家 TOP4企业的总和。 原因无他，自然是因为其500亿货币资金储备，以及BC技术的加持。 特别是竞争对手TCL中环身陷泥沼，成了隆基"涨估值"的背景板，否则硅片大本营被持续偷家，怎样的后果着实不敢想。果然隆基的一半 优秀，是TCL中环衬托的。 当然，最为重要的是，隆基确实能"画饼"，这一点可能也让其虚涨了几斤肉——去年高达7.8亿的业务推广费，更是将隆基的"终局价值相 信空间"推向了顶点： 从过去166是终极尺寸的定义，到氢能战略的诗和远方，到神秘电池项目突然"暂停，再到HPBC一代溢价"四到六毛"的豪言壮语，及至如 今"BC2.0"的迷人愿景。可以说，隆基这几年走过的路，一半是在反思，一半则是在自我陶醉。 多少算是错有错着：回溯这几年，不幸中的万幸还在于，友商对隆基份额的蚕食，却让其愈发"保守"，加上对神秘电池的左右摇摆，让其 在资本贪婪时代并没有铸成"疯狂扩张"的大错。冥冥之中，隆基凭借强大的底子，犯下几次错误却不显得致命。 直至2024年，痛定思痛的隆基，终于开始 ...

食品饮料周报 饮品旺季临近，产业端多维创新 证券研究报告 食品饮料行业 强于大市（维持） 平安证券研究所 食品饮料团队 分析师：张晋溢 S1060521030001（证券投资咨询） 邮箱：ZHANGJINYI112@pingan.com.cn 分析师：王萌 S1060522030001（证券投资咨询） 邮箱：WANGMENG917@pingan.com.cn 分析师：王星云 S1060523100001（证券投资咨询） 食品饮料周报-观点 资料来源：iFind，平安证券研究所 本周白酒指数（中信）累计涨跌幅-2.80%。涨跌幅前三的个股为： *ST岩石（+4.71%）、天佑德酒（+3.88%）、伊力特 （+1.17%）；涨跌幅后三的个股为迎驾贡酒（-3.51%）、山西汾酒（-4.01%）、泸州老窖（-4.04%）。 观点：酒企务实求真，加大战略转型。上周白酒股东大会集中召开，据微酒，在行业调整周期中，多家酒企提出将加大战略转型， 聚焦高质量发展，同时加大年轻消费者培育，体现出务实的态度。展望未来，我们期待政策助力下，消费环境回暖，标的上推荐三 条主线，一是需求坚挺的高端白酒；二是全国化持续推进的次高端白酒；三 ...

Core Viewpoint - The company, Bangjie Co., Ltd., is undergoing a change in control due to significant losses in its foray into the photovoltaic industry, leading to a restructuring aimed at improving profitability and addressing debt issues [1][5][8]. Group 1: Change of Control - Shanghai Qishuorui plans to acquire a 5.03% stake in Bangjie Co., Ltd. through the purchase of shares from existing shareholders, making it the controlling shareholder [2][3]. - The share transfer involves 23.1 million shares at a price of 4.18 yuan per share, representing a premium of approximately 5.8% over the previous closing price [3]. - The new controlling shareholder aims to optimize the company's business structure and seek new growth opportunities [1][8]. Group 2: Financial Performance - Bangjie Co., Ltd. has faced declining profitability since entering the photovoltaic sector, with cumulative losses of approximately 760 million yuan over 2023 and 2024 [1][6]. - The company reported revenues of 763 million yuan and 1.106 billion yuan for 2023 and 2024, respectively, but net profits were losses of 88.43 million yuan and 672 million yuan [6][8]. - The photovoltaic segment has been particularly challenging, with a revenue of 452 million yuan in 2024 but a negative gross margin of -32.93% [6][7]. Group 3: Operational Challenges - The subsidiary, Yangzhou Bangjie, reached peak production in April 2024 but subsequently reduced capacity utilization and decided to temporarily halt production due to market pressures [7]. - As of the first quarter of 2025, the photovoltaic business generated no revenue, prompting the need for a change in control to stabilize operations [8]. - The company has faced legal challenges, with ongoing litigation involving approximately 393 million yuan, which is significant compared to its net assets [8].

彼时，*ST京蓝方面曾公告表示："将吸取经验教训，强化内部治理规范性，提高信息披露质量，"并承 诺严格遵守相关法律法规规定，真实、准确、完整、及时、公平地履行信息披露义务，积极维护公司及 广大股东利益。 5月30日晚间，*ST京蓝（000711．SZ）发布公告称，因涉嫌信息披露违法违规，公司收到中国证监会 下发的《立案告知书》。这是*ST京蓝继2023年7月后，短期内再次因信披问题被证监会立案。 针对此次被立案的具体违规事项，*ST京蓝证券部人士向《中国经营报》记者表示，公司将根据监管要 求后续公告，并称"目前公司经营正常"。 这并非*ST京蓝首次被证监会立案。公开资料显示，2023年7月，该公司曾因涉嫌信息披露违法违规收 到证监会下发《立案告知书》。同年11月，黑龙江证监局出具的《行政处罚决定书》认定，*ST京蓝存 在多项信披违规：2021年及2022年年报未按规定披露商誉减值信息；2021年度少计提商誉减值损失； 2021—2022年度少计提坏账准备。公司因此被责令改正，并处以300万元罚款，相关责任人也受到警告 与罚款。 *ST京蓝主营业务涵盖工业及城市固体废物无害化处置、耕地土壤环境治理等环保领域。尽 ...