"贵州茅台参与SpaceX上市A轮融资"1月29日，这则简短的市场传言在部分投资者群体中悄然流传。消息迅速发酵，直至贵州茅台方面向《上海证券报》 等媒体明确回应：此为 "不实信息"。 文丨吕行 编辑丨杜海 来源丨新商悟 （本文约为1000字） 一张聊天截图，一段凭空捏造的对话，竟让中国白酒龙头与全球太空科技巨头产生了离奇的资本联姻。 谣言随即消散，但留下的疑问值得深思：一个在商业逻辑和技术细节上都站不住脚的消息，为何能短暂地迷惑住一部分人？ 这则传言在专业人士眼中几乎不值一驳，因为它同时踩中了多个常识性"雷区"。 首先，概念混淆。"A轮融资"特指初创企业的早期私募股权融资，而SpaceX正在筹备的是首次公开发行（IPO），属于公司在成熟阶段面向公众投资者的 上市行为。 其次，主体错位。贵州茅台作为一家业务高度聚焦、投资风格稳健的国有控股白酒企业，其对外投资历来围绕主业及上下游展开。跨界参与数万公里之 外、且处于高度敏感航天领域的美国公司IPO，既不符合其战略，也远超其常规的操作范畴。 最后，流程荒谬。如此重大且涉及跨境、跨行业的战略投资，绝无可能先由市场传言证实，而没有任何官方公告或权威信源披露。贵州茅台后续 ...

Group 1 - Liftoff Mobile, Inc. has initiated the roadshow for its proposed initial public offering (IPO) and has filed an S-1 registration statement with the SEC to offer 25,400,000 shares of common stock [1] - Existing shareholders will grant underwriters a 30-day option to purchase up to an additional 3,810,000 shares to cover over-allotments, with the expected IPO price ranging from $26.00 to $30.00 per share [1] - Liftoff plans to list its common stock on the Nasdaq Global Select Market under the ticker symbol "LFTO" [1] Group 2 - Goldman Sachs & Co. LLC, Jefferies, and Morgan Stanley are acting as joint book-running managers for the proposed offering [2] - Additional joint book-running managers include Barclays, RBC Capital Markets, UBS Investment Bank, and others [2] Group 3 - The proposed offering will only be conducted through a prospectus, with preliminary prospectus copies available from the designated parties [3] - The S-1 registration statement related to the securities is still preliminary and has not yet become effective, meaning no sales can occur until it is effective [4]

Core Insights - Nasdaq expects a significant increase in IPOs next year, driven by several large startups planning to enter the U.S. capital markets in the coming months [1][4] - The prediction indicates a recovery in market confidence for new stock offerings, which are a key indicator of economic health [1][4] - As of December 18, Nasdaq has raised approximately $46.65 billion from IPOs this year, more than doubling compared to the same period last year [1][4] - Nasdaq attracted 22 companies, including Walmart, to switch from the New York Stock Exchange, with a total market capitalization of about $1.2 trillion [1][4] - Despite market volatility due to tariffs and a government shutdown in October, IPO activity has remained strong [1][4] - Nasdaq's global listing business head, Jeff Thomas, anticipates a robust pipeline of IPOs exceeding $1 billion by 2026 [1][4] Market Trends - The U.S. stock market experienced a sell-off in April due to tariffs, which led to a sharp decline in IPO activity [5] - Following the sell-off, the market rebounded, with several notable companies, including Medline, Coreweave, and SailPoint, going public [5] - According to Dealogic, U.S. IPOs have raised $74.7 billion this year, an increase of approximately 80% compared to the previous year [6] - Key indicators such as declining interest rates, high valuations, and rising investor sentiment and consumer confidence suggest a positive outlook for IPOs in the near future [6] - Notable companies like SpaceX, Fannie Mae, and Freddie Mac are expected to enter the U.S. capital markets within the next year [6] - OpenAI is reportedly in early discussions for an IPO, which could become one of the largest in history [6] Nasdaq Developments - Nasdaq plans to submit documents to the SEC to launch all-weather stock trading [3][7]

智通财经APP获悉，香港投资公司成立3年后首次披露投资表现，港投公司行政总裁陈家齐表示，受惠 于对首次公开发行（IPO）及生物科技企业的投资，港投公司2024年创造超过20亿港元投资收益。港投 公司于2022年成立，初始投资基金涉及620亿港元，截至去年底，已投放的资金不足20%。港投公司除 获得香港政府初始注资的620亿港元资金外，还从新资本投资者计划中获得约28亿港元新资金。 她续指，港投公司计划在未来一年以更有系统的方式，加大投资力度。现时投资基金透过四大组合进行 投资，投资范围涵盖科技及生物科技等行业共150家公司。 陈家齐指，港投公司的投资速度与回报，与设定的目标完全一致，当局需要在投资风险与投资速度之间 取得平衡。现时投资基金已进入第二阶段，正在寻找主权财富基金、退休基及企业等区域合作伙伴，进 行更大规模的投资，与此同时，东南亚及中东的投资者对投资中港企业深感兴趣。 陈家齐认为，未来投资基金的增长主要动力将来由生科企业，而基金内不少企业正探讨在港上市，或併 购的可能性，而两家在港上市的企业，为基金带来两至三倍的回报。 ...

Group 1 - Boyd Group Services (BGSI.US) plans to raise up to $780 million through an IPO, with a projected market capitalization of $3.8 billion [1][2] - The company operates over 1,000 service centers across 34 states in the U.S. and 5 provinces in Canada, providing collision repair, glass repair, replacement, and calibration services [1] - Boyd Group is in the process of acquiring Joe Hudson's Collision Center, a U.S. automotive repair chain [1] Group 2 - Headquartered in Winnipeg, Canada, Boyd Group was established in 1990 and reported revenue of $3.1 billion for the 12 months ending June 30, 2025 [2] - The company plans to list on the New York Stock Exchange under the ticker symbol BGSI, with the underwriting managed by several financial institutions [2] - The pricing terms for the IPO have not yet been disclosed, but the company has initiated a roadshow and expects to finalize the pricing on October 30, 2025 [2]

Group 1 - Boyd Group Services (BGSI.US) plans to raise up to $780 million through an IPO, with a projected market capitalization of $3.8 billion [1][2] - The company operates over 1,000 service centers across 34 states in the U.S. and 5 provinces in Canada, providing collision repair, glass repair, replacement, and calibration services [1] - Boyd Group is in the process of acquiring Joe Hudson's Collision Center, a U.S. automotive repair chain [1] Group 2 - Headquartered in Winnipeg, Canada, Boyd Group was established in 1990 and reported revenue of $3.1 billion for the 12 months ending June 30, 2025 [2] - The company plans to list on the New York Stock Exchange under the ticker symbol BGSI, with the underwriting managed by several financial institutions [2] - The pricing terms for the IPO have not yet been disclosed, but the company has initiated a roadshow, with the expected pricing date set for October 30, 2025 [2]

Core Viewpoint - German AI translation technology developer DeepL is considering an initial public offering (IPO) in the United States, potentially seeking a valuation of up to $5 billion [1] Group 1: IPO Considerations - DeepL has engaged in preliminary discussions with potential advisors regarding a U.S. IPO, which could occur as early as next year [1] - The company previously achieved a valuation of $2 billion during a funding round led by Index Ventures in May of last year [1] Group 2: Market Expansion - DeepL is looking to expand into the U.S. market due to significant growth opportunities and plans to establish a local office in 2024 [1] - The company currently serves over 200,000 enterprise customers and has millions of active users, both paid and free [1]

Core Insights - Emirates Global Aluminium (EGA) has selected banks to prepare for a potential initial public offering (IPO), which could become one of the largest listings in the Middle East [1] - The company is in discussions with Citigroup, Goldman Sachs, Emirates NBD Capital, and First Abu Dhabi Bank to lead the IPO transaction [1] - EGA faces multiple challenges, including the impact of U.S. tariffs on aluminum products [1] Company Strategy - To mitigate the impact of U.S. tariffs, EGA completed its first acquisition in the U.S. last year to secure duty-free aluminum supply [1] - The company plans to invest $4 billion in building a factory in Oklahoma [1] Market Context - The Middle East has become a hotspot for global IPOs, with several large listings in recent years [1] - Notable IPOs include Saudi Aramco raising $29.4 billion in 2019, Dubai Electricity and Water Authority raising $6.1 billion in 2022, and Talabat and OQ raising approximately $2 billion each through stock issuance last year [1]

Group 1: Chinese Stock and Equity-Linked Issuance - In the first half of 2025, Chinese companies raised a total of $56.6 billion in global capital markets through stock and equity-linked transactions, marking a 110% year-on-year increase and a 14% quarter-on-quarter increase [1] - The number of issuances increased by 30% compared to the same period in 2024, totaling 244 transactions, with a 15% increase in the second quarter compared to the first quarter [1] - Initial Public Offerings (IPOs) totaled $8.36 billion, reflecting a 44% year-on-year increase and a 22% quarter-on-quarter increase [1] - Follow-on offerings raised $35.49 billion, showing a 300% year-on-year increase and a 16% quarter-on-quarter increase [1] - Convertible bonds and equity-linked issuances amounted to $12.75 billion, with a 4% year-on-year increase and a 5% quarter-on-quarter increase [1] Group 2: Industry Performance - The industrial sector led with a 23% market share, raising $13.38 billion, which is a 206% increase compared to the same period last year [3] - Other sectors following the industrial sector include high technology, energy and power, healthcare, and telecommunications [3] Group 3: Underwriters and Legal Advisors - Goldman Sachs ranked first among underwriters for Chinese stock and equity-linked issuances in 2025 [6] - The top underwriters by issuance amount include Goldman Sachs, Morgan Stanley, CITIC Securities, and CICC [7] - Jingtian Gongcheng Law Firm ranked first among legal advisors for Chinese stock and equity-linked issuances [9] Group 4: Chinese Bond Market - The issuance of RMB bonds increased by 35% year-on-year, with a 22% quarter-on-quarter increase in the second quarter of 2025 [11] - Panda bond issuance decreased by 7% year-on-year but increased by 44% quarter-on-quarter [12] - In the first half of 2025, government and institutional bond issuance reached approximately 7.8 trillion RMB, accounting for 52% of the market share, with a 55% year-on-year increase [14] - CITIC Securities led the RMB bond underwriting rankings, while Industrial and Commercial Bank of China ranked first in Panda bond underwriting [17] Group 5: Syndicated Loans - Bank of China led the rankings for all currency syndicated and club loans as well as for all currency loan bookrunners [23] - The total amount of syndicated and club loans decreased by 35% year-on-year [24] - The market share for Bank of China in all currency loans was 62.3%, with a slight increase of 0.8% compared to the previous year [24]

Core Viewpoint - Chinese battery manufacturer CATL plans to conduct an IPO in Hong Kong, aiming to raise at least $4 billion with a discount of approximately 5% compared to its domestic stock price [1] Group 1: IPO Details - The IPO is scheduled for Monday, with CATL's stock closing at 248.27 yuan in Shenzhen on the previous Friday [1] - The company has secured around $2.6 billion from cornerstone investors prior to the book-building process [1] Group 2: Cornerstone Investors - Key cornerstone investors include the Kuwait Investment Authority (KIA) and Sinopec, each committing $500 million [1] - A company under Hillhouse Capital has pledged $200 million [1]