和讯财经 和而不同 迅达天下 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 和闭猎报 10.04 08:51:15 时六 华能水电等:9月A股再融资总额 406.16亿环比增30% 【9月A股再融资总额环比增近30%,多家公司募资 超35亿】10月4日消息,按发行日期统计,9月A股 市场再融资完成总额406.16亿元,环比增加近 30%。其中定增募资超370亿元,环比增长近32%, 可转债募资35亿元,环比增长近一成。完成再融资 的公司有17家,环比增加1家。单家公司方面,9月 完成再融资募资的公司中,12家募资超15亿元,6家 超35亿元,包括华能水电、盛美上海、德赛西威、 寒武纪 - U等。 本文由 Al 算法生成,仅作参考,不涉投资建议,使用风险自担 【9月A股再融资总额环比增近30%，多家公司募资超35亿】10月4日消息，按发行日期统计，9月A股市 场再融资完成总额406.16亿元，环比增加近30%。其中定增募资超370亿元，环比增长近32%，可转债募 资35亿元，环比增长近一成。完成再融资的公司有17家，环比增加1家。 单家公司方面，9月完成再融 资募资的公司中，12家募资超15亿元， ...

9月完成再融资募资的公司中，12家募资超15亿元，6家超35亿元，包括华能水电、盛美上海、德赛西 威、寒武纪 - U等。 【9月A股再融资总额环比增近30%，多家公司募资超35亿】10月4日消息，Wind数据显示，按发行日期 统计，9月A股市场再融资完成总额406.16亿元，环比增加近30%。其中定增募资超370亿元，环比增长 近32%，可转债募资35亿元，环比增长近一成。完成再融资的公司有17家，环比增加1家。 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 和闭猎报 10.04 08:51:15 周六 9月完成再融资募资的公司中,12家募资超15亿 元,6家超35亿元,包括华能水电、盛美上海、德赛 西威、寒武纪 - U等。 本文由 Al 算法生成,仅作参考,不涉投资建议,使用风险自担 和讯财经 和而不同 迅达天下 扫码查看原文 华能水电等:9月A股再融资额406亿 环比增30% 【9月A股再融资总额环比增近30%,多家公司 募资超35亿】10月4日消息,Wind数据显示,按发 行日期统计,9月A股市场再融资完成总额406.16亿 元,环比增加近30%。其中定增募资超370亿元,环 比增长近32 ...

根据Wind数据，按照发行日期统计，9月份A股市场再融资完成总额406.16亿元，环比增加近30%，其中 定增募资总额超过370亿元，环比增长近32%，可转债募资35亿元，环比增长近一成。完成再融资公司 数量17家，环比增加1家。从单家公司来看，9月份完成再融资募资公司中，有12家公司完成募资超过15 亿元，其中6家超过35亿元，依次有华能水电、盛美上海、德赛西威、寒武纪-U等。 ...

Group 1 - Since 2025, the A-share refinancing market has shown signs of recovery in terms of acceptance, meetings, and terminations, but the average fundraising scale of accepted companies has not increased correspondingly [1][3] - Following the "827" new regulations, the market has entered a "winter period" with stricter refinancing arrangements aimed at guiding resources towards high-quality listed companies and ensuring the rationality and necessity of fundraising [2][9] - In 2024, the number of refinancing applications accepted by the Shanghai and Shenzhen stock exchanges decreased by 65% year-on-year, with total fundraising reaching a 12-year low, indicating a counter-cyclical adjustment effect [3] Group 2 - From January to August 2025, 146 companies' refinancing applications were accepted, a 128% increase compared to the same period last year, surpassing the total acceptance for the previous year [3] - The number of refinancing terminations has significantly improved, with 22 terminations reported from January to August 2025, a 76% decrease from the previous year [5] - All 19 refinancing companies that went to meetings from January to August 2025 were approved, with no instances of postponement or rejection reported as of September 15, 2025 [7] Group 3 - Despite the recovery in the refinancing market, the average fundraising amount for newly accepted companies has not increased, with an average of 1.284 billion yuan, and a declining trend observed from June to August 2025 [9]

Group 1 - The A-share refinancing market has seen significant activity in 2023, with total funds raised reaching 800.21 billion yuan, a substantial increase of 258.7% compared to 223.12 billion yuan in the previous year [1] - The private placement market has been particularly strong, with 108 projects completed, raising a total of 756.43 billion yuan, marking a growth of 337.1% year-on-year [1] - There have been 29 convertible bond projects completed, with a total fundraising amount of 43.78 billion yuan [1] Group 2 - The growth trend in the private placement market appears to be sustainable, with 424 private placement proposals disclosed this year, averaging an expected fundraising of 1.10 billion yuan each [1] - The manufacturing and high-tech industries are the main drivers of refinancing, with numerous projects in the chemical, machinery, hardware, and semiconductor sectors [1] - In the chemical industry, 11 companies completed private placements, while the machinery and hardware sectors each had 10 companies complete similar transactions [1] Group 3 - The dominance of private placements in the refinancing market is attributed to their large financing scale, high approval efficiency, and flexible use of funds, along with regulatory support for economic development [2] - The key reasons for the warming of the refinancing market this year include the resonance of policies and market conditions, with the registration system reform significantly optimizing the refinancing process and lowering financing thresholds for companies [2] - The demand for funds has surged due to economic recovery and the need for industrial upgrades, particularly in strategic areas such as new energy and semiconductors, where companies need to overcome technological bottlenecks [2]

Group 1 - The A-share market showed strong performance on September 11, with the ChiNext Index closing at 3053.75 points, marking a 5.15% increase and returning to the 3000-point level for the first time in three and a half years [1][3] - Since late June, the ChiNext Index has seen a cumulative increase of over 50%, and when calculated from the low point of 1756.64 points in April, the maximum increase for the year has exceeded 70% [3] - The rise of the ChiNext Index and related indices is significantly linked to the performance of heavyweight stocks, particularly in the AI+ sector [3] Group 2 - There has been a notable increase in international investment interest in Chinese assets, with over 90% of investors surveyed by Morgan Stanley expressing willingness to increase exposure to the Chinese market, the highest level since early 2021 [3] - The A-share refinancing market has become increasingly active this year, with a total of 800.21 billion yuan raised through various refinancing methods by September 11, a substantial increase of 258.7% compared to the total of 223.12 billion yuan raised in the previous year [3]

Group 1 - The A-share refinancing market has seen significant activity in 2023, with total funds raised reaching 800.21 billion yuan, a 258.7% increase compared to last year's total of 223.12 billion yuan [1] - The surge in refinancing is attributed to policy and market resonance, including the optimization of the refinancing process through registration system reforms and increased funding needs in sectors like new energy and semiconductors [1][2] - The private placement market has been particularly strong, with 108 projects completed, raising 756.43 billion yuan, marking a 337.1% increase from the previous year [1][2] Group 2 - Three main factors driving the refinancing market's growth include improved macro policy environment, increased internal demand from companies, and ample market liquidity [2] - The number of disclosed private placement plans has reached 424, with an average expected fundraising of 1.10 billion yuan per project [2] - The manufacturing and high-tech industries are the primary drivers of refinancing, with significant activity in sectors such as chemicals, machinery, and semiconductors [3] Group 3 - The active refinancing market enhances the capital market's ability to serve the real economy, supporting companies in expanding investments, upgrading technology, and facilitating mergers and acquisitions [3] - The allocation of refinancing funds is increasingly directed towards technology innovation and green low-carbon initiatives, promoting economic structure optimization [3] - The refinancing market provides diverse investment tools for investors, attracting long-term capital and contributing to a multi-tiered capital market system [3]

证券研究报告·北交所报告·北交所定期报告 2025 年 08 月 14 日 证券分析师 朱洁羽 执业证书：S0600520090004 zhujieyu@dwzq.com.cn 证券分析师 易申申 执业证书：S0600522100003 yishsh@dwzq.com.cn 证券分析师 余慧勇 执业证书：S0600524080003 北交所定期报告 20250814 数据产权制度今年将推出，北证指数收跌 1.99% yuhy@dwzq.com.cn 证券分析师 薛路熹 执业证书：S0600525070008 xuelx@dwzq.com.cn 研究助理 武阿兰 执业证书：S0600124070018 wual@dwzq.com.cn 2025-08-12 东吴证券研究所 1/8 请务必阅读正文之后的免责声明部分 [Table_Tag] [Table_Summary] ◼ 资本市场新闻：1）最新！今年将推出数据产权等 10 多项制度。8 月 14 日，国家发展改革委党组成员、国家数据局局长刘烈宏在新闻发布会上 表示，"十四五"时期，我国牢牢把握数字化、网络化、智能化发展机遇， 全面深化数据要素市场化配置改革，加 ...