人民财讯1月12日电，科翔股份（300903）1月12日在互动平台表示，公司800G光模块PCB、服务器用 PCB均已实现小批量供货；公司在存储领域主要生产应用于内存条等存储设备的PCB产品，目前已大批 量供货。 ...

证券日报网讯1月8日，华正新材（603186）在互动平台回答投资者提问时表示，公司覆铜板产品广泛应 用于5G通讯、服务器、数据中心、半导体封装、汽车电子等领域，各产品涉及直接客户多样，其中覆 铜板产品直接下游客户为PCB企业，公司开发的高等级覆铜板材料及封装材料在诸多领域与头部终端合 作，且稳定供货。 ...

证券日报网讯1月8日，华正新材（603186）在互动平台回答投资者提问时表示，公司覆铜板产品广泛应 用于5G通讯、服务器、数据中心、半导体封装、汽车电子等领域，各产品涉及直接客户多样，其中覆 铜板产品直接下游客户为PCB企业，其覆盖的应用领域，公司均有相应的产品适配。 ...

Core Viewpoint - Lingyi Technology is facing challenges in its business performance and financial stability as it seeks to list in Hong Kong, with concerns over customer concentration and rising trade receivables [1][2] Financial Performance - The company has shown unstable financial performance, with revenue figures of 34.5 billion RMB in 2022, 34.1 billion RMB in 2023, and a projected 44.2 billion RMB in 2024, while net profit figures were 1.596 billion RMB, 2.051 billion RMB, and 1.753 billion RMB respectively [2][3] - In the first three quarters of 2025, the company achieved revenue of 37.6 billion RMB, a year-on-year increase of 19.25%, while net profit reached 1.941 billion RMB, up 37.66% [2] Business Segments - The company operates mainly in three business segments: AI terminal business, automotive and low-altitude economy, and other businesses including new energy [2] - The AI terminal business contributed over 80% of revenue in the first three quarters of 2025, but its gross margin has been declining, from 21.2% in 2022 to 16.1% in 2024, before recovering to 17.4% in 2025 [3][4] Customer Concentration - The concentration of revenue from the top five customers has increased, rising from 49.1% of total revenue in 2022 to 56.4% in the first three quarters of 2025 [4][5] Trade Receivables - Trade and other receivables have increased significantly, from 10.217 billion RMB at the end of 2022 to 14.461 billion RMB by the end of September 2025, accounting for 49% of current assets [5] M&A Activities - The company has been active in mergers and acquisitions, with plans to use funds from its Hong Kong IPO for strategic investments and acquisitions [6] - Recent acquisitions include a 60% stake in Jiangsu Kedasite Automotive Technology Co., with concerns raised about the target's high debt and cash flow issues [6][7] - Another acquisition involves a 35% stake in Dongguan Liminda Electronics Technology Co., with a significant premium of over 34 times its net asset value [7][8] Financial Health - The company's debt has been increasing, from 19.07 billion RMB in 2022 to 28.484 billion RMB by September 2025, with short-term loans of 7.33 billion RMB and cash equivalents of only 3.665 billion RMB, indicating potential liquidity issues [8]

继2025年10月完成IPO辅导验收，国产DRAM存储大厂长鑫科技集团股份有限公司（下称"长鑫科技"） 递交科创板上市申请，12月30日最新状态为已经受理，并已获预先审阅，答复了两轮问询。 本次长鑫科技拟公开发行人民币普通股（A股）不超过106.22亿股，计划募集资金高达295亿元，用于存 储器晶圆制造量产线技术升级改造项目、DRAM存储器技术升级项目、动态随机存取存储器前瞻技术研 究与开发项目。 2022年至2024年，长鑫科技营业收入复合增长率为70.81%，截至2025年6月30日，公司累计亏损408.57 亿元。随着公司产销规模的持续增长、产品结构的持续优化，以及2025年下半年以来DRAM产品价格的 快速上涨，公司营业收入迅速增长。 2025年1—9月公司营业收入320.84亿元，同比接近翻倍；归母净利润-52.8亿元，同比略微减亏；经营活 动产生的现金流量净额同比增长近5倍。截至2025年6月30日，公司资产负债率为57.65%。 2025年下半年业绩好转 据预测，2025年公司营业收入将达到550亿元至580亿元，同比增长127.48%至139.89%；净利润将实现 20亿元至35亿元，同比将扭 ...

工业富联所属申万行业为：电子-消费电子-消费电子零部件及组装。所属概念板块包括：城市大脑、在 线办公、谷歌概念、新能源车、服务器等。 截至9月30日，工业富联股东户数47.64万，较上期增加53.11%；人均流通股41687股，较上期减少 34.69%。2025年1月-9月，工业富联实现营业收入6039.31亿元，同比增长38.40%；归母净利润224.87亿 元，同比增长48.52%。 12月30日，工业富联盘中下跌2.05%，截至10:23，报63.90元/股，成交39.18亿元，换手率0.31%，总市 值12694.66亿元。 资金流向方面，主力资金净流出2.50亿元，特大单买入7.78亿元，占比19.87%，卖出8.85亿元，占比 22.58%；大单买入9.87亿元，占比25.20%，卖出11.31亿元，占比28.87%。 工业富联今年以来股价涨206.33%，近5个交易日涨1.65%，近20日涨4.82%，近60日跌4.03%。 今年以来工业富联已经2次登上龙虎榜，最近一次登上龙虎榜为9月12日。 资料显示，富士康工业互联网股份有限公司位于广东省深圳市龙华区龙华街道东环二路二号富士康科技 园C1栋二 ...

格隆汇12月24日｜国盛证券研报指出，领益智造收购立敏达，卡位AI算力黄金赛道，开拓增长新引 擎。交易完成后，立敏达将纳入公司合并报表范围。本次收购的立敏达深耕企业级服务器热管理领域， 已发展成为以热管理产品为核心的服务器综合硬件解决方案提供商。公司持续深耕AI终端硬件相关产 品，电池、热管理、快充等业务在创新周期中获得新增量，同时人形机器人、AI眼镜、折叠机、服务 器等新业务卡位较好，将拉动中期新一轮成长，维持"买入"评级。 ...

12月23日，闻泰科技（维权）盘中上涨2.02%，截至13:45，报38.38元/股，成交10.64亿元，换手率 2.27%，总市值477.70亿元。 资金流向方面，主力资金净流出5915.76万元，特大单买入7922.77万元，占比7.45%，卖出8080.69万 元，占比7.60%；大单买入1.97亿元，占比18.56%，卖出2.55亿元，占比23.97%。 闻泰科技今年以来股价跌1.03%，近5个交易日涨4.12%，近20日跌6.00%，近60日跌22.18%。 今年以来闻泰科技已经3次登上龙虎榜，最近一次登上龙虎榜为10月15日，当日龙虎榜净买入-2.11亿 元；买入总计11.07亿元 ，占总成交额比11.87%；卖出总计13.18亿元 ，占总成交额比14.14%。 资料显示，闻泰科技股份有限公司位于广东省深圳市罗湖区黄贝街道新秀社区罗沙路5097号银丰大厦B 座一层，成立日期1993年1月11日，上市日期1996年8月28日，公司主营业务涉及房地产开发与经营;以 智能手机为主的移动互联网设备产品的研发与制造;上游半导体。主营业务收入构成为：智能终端 69.00%，半导体产品30.88%，其他0.12 ...

Market Overview - The Shanghai Composite Index fell by 0.23%, while the Shenzhen Component Index rose by 0.29%. The ChiNext Index decreased by 0.02%, and the Northbound 50 Index dropped by 0.85% [1] - The total market turnover was 1.79 trillion yuan, a decrease of 126 billion yuan compared to the previous day [1] Sector Performance - Real estate stocks saw significant afternoon gains, with Vanke A hitting the daily limit [1] - Education, CPO, and semiconductor sectors experienced afternoon rallies, while the Hainan Free Trade Zone and retail sectors remained strong throughout the day [1] - The photovoltaic, superhard materials, server, and banking sectors underwent adjustments [1] ETF Movements - Real estate ETFs showed strong performance, with the Yinhua Fund Real Estate ETF, Huabao Fund Real Estate ETF, and Southern Fund Real Estate ETF rising by 3.79%, 3.73%, and 3.09% respectively [1] - Cross-border QDII funds also increased, with Invesco Great Wall Fund NASDAQ Technology ETF and Invesco Great Wall Fund S&P Consumer ETF rising by 2.18% and 1.7% respectively [1] - The engineering machinery sector saw gains, with the Dacheng Fund Engineering Machinery ETF increasing by 2.23% [1] - The satellite sector rose again, with the China Merchants Fund Satellite Industry ETF up by 1.69% [1] - The big data sector weakened, with the Big Data ETF falling by 2% [1] - The banking sector declined, with the China Securities Bank ETF dropping by 1.92% [1] - The Hong Kong dividend index continued to decline, with the Hong Kong Stock Connect Dividend ETF and the other Hong Kong Stock Connect Dividend ETF both down by 1.6% [1]

Market Overview - The three major A-share indices collectively declined in the morning session, with the Shanghai Composite Index down by 0.55%, the Shenzhen Component Index down by 0.77%, and the ChiNext Index down by 0.88% [1] - The trading volume in the Shanghai and Shenzhen markets reached 10,560 billion yuan, a decrease of 1,807 billion yuan compared to the previous day [1] - Over 3,900 stocks in the market experienced declines [1] Sector Performance - The sectors that saw gains included pharmaceutical commerce, Fujian, Hainan Free Trade Zone, tourism and hotels, AI mobile phones, real estate, and coal mining and processing [1] - Conversely, sectors that weakened included lithium battery electrolyte, CRO, GPU, rare earth permanent magnets, superhard materials, servers, robotics, and photolithography concept stocks [1] ETF Performance - The Invesco Great Wall Fund S&P Consumer ETF rose by 1.59%, driven by strong U.S. Black Friday consumer data [1] - Hong Kong dividend stocks performed well, with the China Merchants Fund Hong Kong Dividend Low Volatility ETF, Huatai-PB Fund Hong Kong Dividend Low Volatility ETF, and E Fund Hang Seng Dividend Low Volatility ETF increasing by 1.46%, 1.36%, and 1.22% respectively [1] - The S&P Biotechnology ETF fell by 2.2%, while the rare earth sector ETFs, including the Harvest Rare Earth ETF, also declined by 2% [1] - The robotics sector ETFs, including the Invesco Robotics ETF and E Fund Robotics ETF, decreased by 1.97% and 1.94% respectively [1]