2022年至2024年，新天力的营业收入分别为9.44亿元、10.22亿元、11.01亿元；净利润分别为3632.26万元、5777.40万元、6840.08万元。2025年上半年，公 司实现营业收入5.36亿元，同比增长1.14%；归属于挂牌公司股东的净利润4257.27万元，同比增长17.71%。 9月30日，北交所上市委2025年第25次审议会议结果出炉，新天力科技股份有限公司（简称"新天力"）符合发行条件、上市条件和信息披露要求，顺利过 会。这是今年过会的第57家企业（其中，上交所和深交所一共过会33家，北交所过会24家）。 新天力的保荐机构为国泰海通证券股份有限公司，保荐代表人为谢锦宇、蒋勇。 北交所上市委员会对新天力出具了审议意见，要求其补充披露关于公司治理及内部控制的规范整改情况，要求保荐机构核查并发表明确意见。此外，要求 保荐机构补充核查新天力与香飘飘商业合作的合理性与可持续性。 上市委员会向新天力提出问询的主要问题包括经营业绩可持续性和行业政策，要求新天力说明与主要客户合作的稳定性以及经营业绩的可持续性，以及行 业政策对公司业务的影响及应对措施。 新天力专业从事塑料制及纸制食品容器的研发、生 ...

智通财经APP获悉，周五，甲骨文(ORCL.US)延续昨日跌势，截至发稿，该股现跌超3.6%，股价跌破 300美元，近两个交易日累计跌超10%。市场担忧其未来增长过度集中于单一客户OpenAI。Wedbush Securities分析师Gil Luria在周四发布的客户报告中直言："我们对甲骨文积压订单的乐观态度，被其几 乎完全来自OpenAI的消息严重削弱。"他对甲骨文股票维持"中性"，并提醒投资者关注客户集中度风 险。 ...

周五，甲骨文(ORCL.US)延续昨日跌势，截至发稿，该股现跌超3.6%，股价跌破300美元，近两个交易 日累计跌超10%。市场担忧其未来增长过度集中于单一客户OpenAI。Wedbush Securities分析师Gil Luria 在周四发布的客户报告中直言："我们对甲骨文积压订单的乐观态度，被其几乎完全来自OpenAI的消息 严重削弱。"他对甲骨文股票维持"中性"，并提醒投资者关注客户集中度风险。 ...

Core Viewpoint - Daming Electronics is preparing for an IPO on the Shanghai Stock Exchange, with significant revenue dependence on Chang'an Automobile, raising concerns about customer concentration risk and the company's declining gross margin due to industry pricing practices [2][10]. Group 1: Company Overview - Daming Electronics specializes in the research, production, and sales of automotive body electronic control systems, with key products including driving assistance systems, intelligent optical systems, cockpit control systems, window control systems, and seat adjustment systems [4]. - The company has established long-term partnerships with major domestic automotive manufacturers such as Chang'an Automobile, SAIC Group, FAW Group, BYD, and international brands like Ford and Toyota [4]. Group 2: Financial Performance - Daming Electronics reported revenues of 1.713 billion, 2.147 billion, and 2.727 billion yuan for 2022, 2023, and 2024 respectively, with net profits of 143 million, 196 million, and 279 million yuan [4]. - In 2024, over 650 million yuan, accounting for more than 24% of total revenue, is expected to come from Chang'an Automobile, down from over 30% in 2023, indicating rising customer concentration risk [5][8]. Group 3: Gross Margin Analysis - The company's overall gross margin has declined from 23.74% in 2021 to 20.65% in 2023, influenced by pricing pressures from downstream customers and rising costs [10]. - The gross margins for main business segments in 2022, 2023, and 2024 were reported as 20.57%, 20.62%, and 21.08% respectively, showing slight recovery in 2024 [10][11]. Group 4: Industry Context - The automotive parts industry in China is entering a mature phase, with increasing bargaining power for downstream manufacturers, leading to a common practice of annual price reductions [10][13]. - Daming Electronics' business model aligns with industry norms, focusing on long-term partnerships and collaborative product development with key clients [13].

Company Overview - Zhongjie Automotive, listed on the ChiNext board on April 25, 2023, with an issue price of 16.5 yuan per share, has seen its stock price increase by over 193%, resulting in a market capitalization of approximately 5.9 billion yuan [1] - The company specializes in the research, production, and sales of precision automotive thermal management system components, with its main products including automotive air conditioning heat exchangers, oil coolers, heat pump systems, and battery coolers [2][6] Financial Performance - For the reporting period, Zhongjie Automotive's revenue was approximately 713 million yuan, 822 million yuan, and 978 million yuan, with corresponding net profits of 78.32 million yuan, 82.51 million yuan, and 95.26 million yuan [3] - The company expects to achieve revenue of approximately 240 million to 270 million yuan in Q1 2025, representing a year-on-year increase of 12.76% to 26.86%, and a net profit of 19 million to 23 million yuan, reflecting a year-on-year increase of 39.25% to 68.57% [3] Gross Margin Analysis - The comprehensive gross margins for the reporting period were 23.95%, 22.35%, and 24.58%, with fluctuations attributed to factors such as exchange rate volatility, rising shipping costs, and increasing raw material prices [3] - In comparison to peers, Zhongjie Automotive's gross margin of 24.58% in 2024 is lower than Bond Holdings (41.98%) and Sanhua Intelligent Control (27.47%), but higher than Yinlun Holdings [5] Customer Concentration and Market Reach - The company has a high customer concentration risk, with sales to the top five customers accounting for 62.28%, 60.18%, and 63.16% of total sales during the reporting period [6] - Zhongjie Automotive's products are utilized by major global automotive brands, including Mercedes-Benz, BMW, and Tesla, with over 80% of its revenue coming from international sales [6] Inventory and Supply Chain Considerations - The company's inventory values at the end of each reporting period were approximately 178 million yuan, 264 million yuan, and 310 million yuan, representing a significant portion of current assets [6] - The rapid growth of inventory raises concerns about capital occupation and potential impairment risks due to market price declines [6]