12月24日，深圳承泰科技股份有限公司（下称"承泰科技"）向港交所提交上市申请书，独家保荐人为国泰海通。 资料显示，承泰科技成立于2016年，是毫米波雷达供应商。根据灼识咨询的资料，于2024年，按出货量计，该公司是中国车载前向毫米波雷达市场的最大 国内供应商。 尽管营收快速增长，承泰科技报告期内始终未实现盈利，分别亏损7917.4万元、9659.8万元、2176.8万元、1443.1万元，累计亏损约2.12亿元。承泰科技解 释称，亏损主要由于公司授予过往年度若干轮次融资的投资者的赎回权利产生的赎回负债的大笔账面值变动以及经营开支，包括研发开支、一般及行政开 支以及销售开支所致。 | | | 俄王12月31日正午及 | | 概玉0月20日正八届日 | | | --- | --- | --- | --- | --- | --- | | | 2022年 | 2023年 | 2024年 | 2024年 | 2025年 | | | | | (人民幣千元) | | | | | | | | (未經審核) | | | 收益 | 57,651 | 156,524 | 348,094 | 95,377 | 538,518 | ...

展望2026，上市科目前正在处理的上市申请超过300家公司。未来十年，港交所将聚焦三大战略：一是 扩展多元资产生态系统，发展固定收益、货币及大宗商品业务，并吸引更多国际企业来港上市；二是持 续布局科技和运营，包括就改革香港证券市场结算周期展开市场咨询，落实无纸证券市场措施，升级衍 生品交易平台，及在运营中采用AI等新兴技术等等；三是发展新兴业务，包括数据、分析、指数、数 字货币、代币化等业务。 12月16日，香港交易所集团行政总裁陈翊庭在网志发文表示，今年以来，来自内地各行各业的企业纷纷 利用香港交易所的融资平台加快出海战略。2025年至今，香港新股市场已经迎来超过100家上市公司， 包括今年全球最大的两宗IPO，融资总额已超过2700亿港元。 港交所将继续深化与中国内地的互联互通，并推动亚洲其他市场与中国资本对接，巩固香港作为全球金 融核心的地位。 本文源自：财华网 ...

Group 1 - Shanghai Stock Exchange's Sci-Tech Innovation Board had 1 company listed, while Shenzhen Stock Exchange's ChiNext had 1 company listed during November 18-24 [2] - Hengkun New Materials focuses on key materials for integrated circuits, achieving a first-day stock price increase of 310.61%, closing at 50.54 CNY per share, a 237.16% increase from the issue price of 14.99 CNY, with a total market value of approximately 22.7 billion CNY [2] - Nanwang Digital provides digital construction solutions for the power energy sector, with a first-day stock price increase of 224.78%, closing at 20.51 CNY per share, a 260.46% increase from the issue price of 5.69 CNY, with a total market value of approximately 65.2 billion CNY [2] Group 2 - Two companies passed the listing committee review on the Shanghai Stock Exchange's Sci-Tech Innovation Board, while no companies were reviewed on the Shenzhen Stock Exchange during November 18-24 [3] - Zhenshi Co., Ltd. specializes in fiber-reinforced materials for clean energy applications, providing innovative solutions across various industries [3] - Easy Vision focuses on machine vision equipment for automotive manufacturing, providing solutions for various manufacturing processes [4] Group 3 - One company submitted a listing application on the Shanghai Stock Exchange's Sci-Tech Innovation Board, while one company submitted an application on the Shenzhen Stock Exchange's ChiNext during November 18-24 [4] - Beidou Institute specializes in satellite navigation and aerospace control technologies, with an IPO application accepted on November 21, aiming to raise 709 million CNY for product upgrades and research projects [5] - Financial projections for Beidou Institute show revenues of 243 million CNY, 285 million CNY, and 325 million CNY from 2022 to 2024, with net profits of approximately 76.18 million CNY, 81.71 million CNY, and 82.94 million CNY respectively [6] Group 4 - Green Bio focuses on the research, production, and sales of fragrance products, with an IPO application accepted on November 21, aiming to raise 690 million CNY for production projects and R&D upgrades [10] - Financial projections for Green Bio show revenues of 631 million CNY, 735 million CNY, and 961 million CNY from 2022 to 2024, with net profits of approximately 68.14 million CNY, 92.92 million CNY, and 150 million CNY respectively [11] Group 5 - Hong Kong Stock Exchange had 1 company listed during November 18-24 [13] - Innovation Industry focuses on aluminum industry chain, with a first-day stock price increase of 32.76%, closing at 14.59 HKD per share, with a total market value of approximately 29.2 billion HKD [14] Group 6 - Six companies passed the hearing on the Hong Kong Stock Exchange's main board during November 17-24 [18] - Notable companies include Yujian Xiaomian, a Chinese noodle restaurant operator, and Jinyan High-tech, specializing in coal series kaolin [19][20] Group 7 - Several companies submitted listing applications on the Hong Kong Stock Exchange during November 17-24, including Kanop, Dongshan Precision, and NobiKan [25][31][34] - Kanop focuses on industrial robots and aims to enhance R&D capabilities and expand market presence [31] - Dongshan Precision is a leading global PCB supplier, with plans to upgrade production facilities and repay debts [34] Group 8 - NobiKan specializes in AI and digital twin technologies, with a focus on transportation and energy sectors [39] - Financial projections for NobiKan show revenues of 253 million CNY, 362 million CNY, and 403 million CNY from 2022 to 2024, with net profits of approximately 6.3 million CNY, 8.9 million CNY, and 11.5 million CNY respectively [40] Group 9 - Mandi International focuses on skin health and weight management solutions, with a strong market presence in hair loss treatment products [44] - Financial projections for Mandi International show revenues of 982 million CNY, 1.23 billion CNY, and 1.46 billion CNY from 2022 to 2024, with net profits of approximately 202 million CNY, 341 million CNY, and 390 million CNY respectively [45] Group 10 - Lingyi Intelligent Manufacturing aims to provide comprehensive intelligent manufacturing services, with a focus on AI hardware [47] - Financial projections for Lingyi show revenues of 34.5 billion CNY, 34.2 billion CNY, and 44.3 billion CNY from 2022 to 2024, with net profits of approximately 1.56 billion CNY, 2.01 billion CNY, and 1.76 billion CNY respectively [48] Group 11 - Hailan Home aims to optimize sales channels and enhance brand image through its IPO, with a strong market position in men's apparel [51] - Financial projections for Hailan show revenues of 17.9 billion CNY, 20.8 billion CNY, and 20.2 billion CNY from 2022 to 2024, with net profits of approximately 2.06 billion CNY, 2.92 billion CNY, and 2.19 billion CNY respectively [53]

Core Viewpoint - Baogai New Materials has established itself as a market and technology leader in China's composite material manhole cover industry, focusing on GFRP (Glass Fiber Reinforced Plastic) products for engineering and infrastructure needs [3]. Group 1: Company Overview - Baogai New Materials was founded in 2009 and specializes in producing GFRP manhole cover products primarily for engineering and infrastructure applications [3]. - The company's product portfolio includes cable trench covers, drainage trench covers, and manhole covers, serving critical sectors such as electricity, transportation, urban utilities, water conservancy, and petrochemical engineering in China [3]. Group 2: Market Position - As of 2024, Baogai New Materials holds the top position in China's cable trench cover industry with a market share of approximately 2.36%, which is about double that of the second-largest competitor [3]. - The company is also the leading player in the GFRP cable trench cover sector, with a market share of around 8.94%, again approximately double that of its closest rival [3]. - In the broader manhole cover industry, Baogai New Materials ranks third, capturing about 1.35% of the total market share [3]. Group 3: Financial Performance - For the fiscal year ending June 30, 2023, Baogai New Materials reported revenues of approximately 137.1 million RMB, with a gross profit of about 52.4 million RMB [4][6]. - The company’s projected revenues for the fiscal year ending June 30, 2024, are approximately 130.9 million RMB, with a gross profit of around 49.1 million RMB [6]. - The net profit attributable to equity shareholders for the fiscal year ending June 30, 2023, was approximately 25.2 million RMB, with earnings per share of 0.58 RMB [6].