中国经济网北京1月30日讯大连美德乐工业自动化股份有限公司(证券简称：美德乐，证券代码： 920119.BJ)在北交所上市。截至收盘，美德乐报109.50元，涨幅161.46%，成交额12.40亿元，换手率 71.65%，振幅82.00%，总市值78.97亿元。 公司是国内领先的智能输送系统供应商，主营智能制造装备的研发、设计、制造和销售业务，主要产品 为模块化输送系统和工业组件。 本次发行前，张永新直接持有公司25,900,000股股份，持股比例为46.15%。本次发行后，张永新直接持 有公司25,900,000股股份，持股比例为35.91%。张永新担任公司的董事长、总经理，能够对公司股东 会、董事会的决议产生重大影响，为公司控股股东、实际控制人。 美德乐本次发行价格41.88元/股，公开发行的股票数量16,000,000股。美德乐的保荐机构(主承销商)是国 泰海通证券股份有限公司，保荐代表人是杨易、黄祥。 容诚会计师事务所(特殊普通合伙)已出具《验资报告》(容诚验字[2026]215Z0005号)，确认公司截至 2026年1月23日止，募集资金总额670,080,000.00元，扣除不含税的发行费用61, ...

Investment Rating - The investment rating for the company is "Buy" based on its strong market position and growth potential [28]. Core Insights - The company is a leading domestic player in intelligent conveyor systems, with a focus on modular conveyor systems and industrial components, achieving significant revenue growth in key sectors such as new energy batteries and automotive parts [2][6]. - The company has established a strong customer base, including major clients like BYD and CATL, which enhances its market position and revenue stability [7][23]. - The company is set to benefit from the growing demand in downstream industries, particularly in new energy and automotive sectors, with a projected compound annual growth rate (CAGR) of 25.76% for the intelligent logistics equipment market from 2018 to 2023 [16]. Summary by Sections 1. Company Overview - Founded in 2009, the company specializes in intelligent conveyor systems, with a revenue composition of 61.98% from new energy batteries, 23.40% from automotive parts, and 5.09% from electronics as of H1 2025 [2][6]. 2. Issuance Plan - The company plans to issue 16 million shares at a price of 41.88 yuan per share, raising approximately 670 million yuan, with a post-issue market capitalization of 3.021 billion yuan [12][13]. 3. Industry Situation - The intelligent logistics equipment market in China is expected to grow from 319.2 billion yuan in 2018 to 1,920.2 billion yuan by 2027, with a CAGR of 17.60% from 2023 to 2027 [16]. 4. Competitive Advantages - The company possesses strong technological capabilities, a well-established customer base, and significant market experience, which provide it with a competitive edge in the industry [17][18]. 5. Comparable Companies - The company has a lower market capitalization and price-to-earnings (PE) ratio compared to its peers, indicating a potentially undervalued position in the market [24]. 6. Subscription Analysis - The recommendation is to actively participate in the subscription due to the company's strong market position, advanced technology, and low initial valuation [23].