证券日报网讯 九联科技11月19日在互动平台回答投资者提问时表示，公司旗下子公司广东九联智慧能 源有限公司，为客户提供专业的能源数字化、智能化整体解决方案，包括能源管理、微电网、虚拟电厂 等。九联智慧能源目前已参与了《综合能源站建设运营服务评价规范》《虚拟电厂建设运营服务评价技 术要求》等团体标准起草与制定。 ...

Summary of New Stock Offerings Core Viewpoint This week, three new stocks are available for subscription in the A-share market, including Beikong Detection, Hengkong New Materials, and Nanguang Digital, each with distinct industry focuses and growth potential. Group 1: Beikong Detection - Beikong Detection is a leading domestic service provider in non-ferrous metal inspection and testing, with an issuance price of 6.7 yuan per share and a single account subscription limit of 1.2744 million shares [2][3]. - The company has achieved revenues of 0.92 billion yuan, 1.1 billion yuan, and 1.48 billion yuan for the years 2022 to 2024, with net profits of 0.32 billion yuan, 0.46 billion yuan, and 0.55 billion yuan respectively [3]. - The funds raised will be invested in advanced testing instrument R&D and capacity building projects, as well as to supplement working capital [4]. Group 2: Hengkong New Materials - Hengkong New Materials focuses on the R&D and industrial application of key materials for integrated circuits, with a single account subscription limit of 10,500 shares and a required market value of 105,000 yuan [5]. - The company projects revenues of 3.22 billion yuan, 3.68 billion yuan, and 5.48 billion yuan from 2022 to 2024, with net profits of 1.01 billion yuan, 0.9 billion yuan, and 0.97 billion yuan respectively [7]. - The raised funds will be allocated to the second phase of the precursor project and advanced materials for integrated circuits [8]. Group 3: Nanguang Digital - Nanguang Digital provides comprehensive digital construction solutions for the power energy sector, with a single account subscription limit of 47,500 shares and a required market value of 475,000 yuan [9]. - The company has reported revenues of 56.86 billion yuan, 42.34 billion yuan, and 60.9 billion yuan for 2022 to 2024, with net profits of 6.53 billion yuan, 3.77 billion yuan, and 5.7 billion yuan respectively [10]. - The funds raised will be used for various projects, including the construction of a digital twin platform and an advanced AI platform for the energy sector [10].

Summary of Key Points Core Viewpoint - This week, three new stocks are available for subscription in the A-share market, including Beikang Testing, Hengkang New Materials, and Nanguang Digital, each representing different sectors of the economy [1]. Group 1: Beikang Testing - Beikang Testing's issue price is 6.7 yuan per share, with a single account subscription limit of 1.2744 million shares [2]. - The company is a leading domestic service provider in the field of non-ferrous metal inspection and testing, involved in various areas such as mineral resource testing, technical services, and high-end analytical instrument development [2]. - Projected revenues for Beikang Testing from 2022 to 2024 are 92 million yuan, 110 million yuan, and 148 million yuan, with net profits of 32 million yuan, 46 million yuan, and 55 million yuan respectively [3]. Group 2: Hengkang New Materials - Hengkang New Materials has a single account subscription limit of 10,500 shares, requiring a minimum market value of 105,000 yuan in the Shanghai market for maximum subscription [5]. - The company focuses on the research and industrial application of key materials for integrated circuits, being one of the few domestic firms capable of developing and mass-producing critical materials for 12-inch integrated circuit wafers [5]. - Revenue projections for Hengkang New Materials from 2022 to 2024 are 322 million yuan, 368 million yuan, and 548 million yuan, with net profits of 101 million yuan, 90 million yuan, and 97 million yuan respectively [7]. Group 3: Nanguang Digital - Nanguang Digital has a single account subscription limit of 47,500 shares, with a top subscription requiring a market value of 475,000 yuan in the Shenzhen market [9]. - The company provides comprehensive digital construction solutions for the power energy sector, aiming to build a world-class digital and intelligent innovation platform for power grids [9]. - Revenue forecasts for Nanguang Digital from 2022 to 2024 are 5.686 billion yuan, 4.234 billion yuan, and 6.09 billion yuan, with net profits of 653 million yuan, 377 million yuan, and 570 million yuan respectively [10].

Summary of Langxin Technology Conference Call Company Overview - **Company**: Langxin Technology - **Industry**: Energy Technology Key Points and Arguments Financial Performance - Total revenue for the first three quarters of 2025 was approximately 2.45 billion yuan, a year-on-year decline of about 9% [3] - Net profit attributable to shareholders was 100 million yuan, down 34% year-on-year, with non-recurring net profit around 83 million yuan, a decrease of 30% [3] - Gross margin significantly improved to 47% compared to the same period last year [2][3] Business Segments - **Energy Digitalization**: Revenue was approximately 900 million yuan, down 10% year-on-year, primarily due to the divestiture of non-grid businesses and adjustments in grid business pace. Significant revenue growth is expected in Q4 [2][3] - **Energy Internet**: Revenue exceeded 1.3 billion yuan, an 8% increase year-on-year, driven by AI technology applications and rapid development of the electricity trading platform, with trading volume increasing over threefold [2][3] - **Public Charging Services**: Charging volume grew over 30% year-on-year, achieving a single quarter breakeven, but still incurred slight losses due to historical borrowing costs [2][8] Strategic Focus - The company is focusing on two main directions: - **To B**: Serving the grid with a focus on new power system construction through digitalization and intelligence [5] - **To C**: Connecting new energy assets with client value through the energy internet platform [5] Non-Core Business Divestiture - The divestiture of non-core businesses aims to enhance operational efficiency and focus on core energy technology [4] AI and Electricity Trading - The company utilizes AI trading models for market predictions, achieving a competitive advantage in the electricity market with a revenue per kilowatt-hour of approximately 0.02 yuan [2][11] - The AI model sources data from user load and public electricity market data, optimizing predictions through continuous iteration [12][13] Future Developments - The company is working with partners to promote the on-chain of new energy assets, focusing on global energy, new energy, and carbon-related asset rating, pricing, and index services [7] - The new composite control system is a key component of the new power system, integrating IoT data collection and load management [9] Market Trends and Challenges - The company anticipates that the public charging service will enter a profitable phase as market competition intensifies and electric vehicle ownership increases [8] - The development of energy storage devices will focus on both supply-side and user-side applications, aiming for integrated management [10] Green Electricity Direct Connection - The company views green electricity direct connection as part of the broader energy internet business framework, exploring feasibility through microgrid scenarios [14] Sustainability of Gross Margin Improvement - The increase in gross margin is attributed to the divestiture of low-margin businesses and the rise in high-margin platform operations, indicating a sustainable trend for future growth [15]

Core Viewpoint - The successful IPO approval of Nanfang Digital by the CSRC marks a significant milestone for the company in the energy digitalization sector, reflecting strong support from regulatory bodies for high-quality enterprises with core technologies in alignment with national strategies [1][3]. Group 1: IPO Process and Regulatory Support - Nanfang Digital's IPO process, from application to approval, took only 91 days, showcasing the efficiency of the current regulatory environment characterized by "strict supervision and rapid review" [2]. - The Shenzhen Stock Exchange demonstrated a commitment to optimizing the review mechanism, ensuring thorough scrutiny while facilitating quick access to capital markets for strategic emerging industry enterprises like Nanfang Digital [2][3]. - The CSRC's approval serves as a critical "pass" for the IPO, emphasizing the importance of aligning capital market resources with key national support areas [3]. Group 2: Impact on Industry and Future Growth - The IPO will enable Nanfang Digital to leverage capital for accelerated development, enhancing core technology research and expanding market presence [4]. - As a leading player in energy digitalization, Nanfang Digital's listing is expected to strengthen its industry position and contribute to the smart upgrade and digital transformation of the entire energy sector, supporting China's "dual carbon" strategy [4]. - The successful listing of Nanfang Digital serves as a benchmark, demonstrating the adaptability of quality enterprises under the new regulatory environment and the commitment of capital market regulators to support technological innovation and national strategies [4].

Core Points - The IPO registration of Southern Power Grid Digital Grid Research Institute Co., Ltd. (referred to as "Southern Digital") was approved on October 17, marking a significant milestone in the current capital market reform [1][2] - The rapid approval process, taking only 91 days from application to listing, showcases the effectiveness of the "strict supervision and fast review" approach adopted by regulatory authorities [1][2] - Southern Digital's successful IPO reflects its strong adaptability to the new regulatory environment and highlights the support from the Shenzhen Stock Exchange and the China Securities Regulatory Commission for leading enterprises aligned with national strategies [2] Company Summary - Southern Digital's IPO will enhance its research and development capabilities and expand its business scope, contributing positively to the digital transformation of the energy industry and supporting the national "dual carbon" goals [2] - The company is recognized as a representative enterprise in the energy digitalization sector, possessing core technologies and a wealth of application scenarios in key areas such as digital grids and energy intelligence [2] - Southern Digital's strong operational capability and innovation potential were crucial for its successful IPO registration, demonstrating its ability to maintain sustainable operations [2] Industry Context - The current capital market is experiencing a warming trend, with a general consensus that IPOs are gradually recovering and accelerating [2] - The China Securities Regulatory Commission has introduced multiple policy measures to enhance inclusivity, aiming to attract more high-quality technology companies to the A-share market [2] - Southern Digital serves as a benchmark case for the efficiency and quality of the registration system, injecting momentum into the development of industry leaders through capital platforms [2]

Core Viewpoint - The approval of the IPO registration for Nanfang Digital by the CSRC marks a significant milestone for a leading company in the energy digitalization sector in China, reflecting the effectiveness of current capital market reforms [1][2][3] Group 1: IPO Process and Regulatory Support - Nanfang Digital's IPO process from application to approval took only 91 days, showcasing the efficiency of the regulatory framework under the "strict supervision and fast review" policy [1] - The Shenzhen Stock Exchange (SZSE) demonstrated a commitment to high standards and thorough scrutiny while facilitating rapid connections between quality enterprises and the capital market [2] - The CSRC's approval serves as a critical "pass" for the IPO, ensuring that capital market resources are directed towards key national support areas [2] Group 2: Business Focus and Market Position - Nanfang Digital, incubated by the Southern Power Grid Company, focuses on three main areas: digital grid, enterprise digitalization, and digital infrastructure, establishing strong technical barriers and diverse application scenarios [1] - The company's business model aligns well with the "three innovations and four new" positioning of the ChiNext board, highlighting its significant industry status and clear growth prospects [1] Group 3: Strategic Importance and Future Impact - The upcoming listing of Nanfang Digital on the ChiNext board is expected to enhance its leading position in the energy digitalization sector and accelerate the smart upgrade and digital transformation of the entire energy industry [3] - The successful IPO is seen as a benchmark, demonstrating the adaptability of quality enterprises under the new regulatory environment and the commitment of capital market regulators to support technological innovation and national strategies [3]

Group 1 - The core viewpoint of the news is that Nanfang Electric Power's digital subsidiary successfully passed the IPO review by the Shenzhen Stock Exchange, highlighting its strong industry position and growth potential in the digital energy sector [1][2] - Nanfang Electric's digital business encompasses three main areas: digital grid, enterprise digitalization, and digital infrastructure, showcasing its core technologies in digital grid and energy intelligence [1] - The successful IPO review reflects the Shenzhen Stock Exchange's commitment to supporting high-quality enterprises that align with national strategies and possess core competitiveness, especially under the current stringent regulatory environment [1][2] Group 2 - Nanfang Electric proactively raised compliance standards and prepared thoroughly for the IPO application, demonstrating strong adaptability to the new regulatory landscape [2] - The company effectively demonstrated its sustainable profitability, business authenticity, and compliance during multiple rounds of inquiries, which contributed to its successful review [2] - The IPO success illustrates the Shenzhen Stock Exchange's effective response to capital market reforms and its precise support for leading enterprises, facilitating efficient connections between quality resources and the capital market [2]

Core Viewpoint - The successful IPO of Southern Power Grid Digital Research Institute Co., Ltd. (referred to as "Southern Digital") reflects its strong industry position and growth potential in the digital grid and energy intelligence sectors, aligning with the "Three Innovations and Four New" positioning of the ChiNext board [1][2] Group 1: Company Overview - Southern Digital is a specialized digital enterprise incubated by Southern Power Grid, with business operations covering digital grid, enterprise digitalization, and digital infrastructure [1] - The company possesses core technologies in digital grid and energy intelligence, showcasing significant industry status and growth potential [1] Group 2: IPO Process and Regulatory Environment - Southern Digital's IPO passed the review by the Shenzhen Stock Exchange, meeting issuance, listing, and information disclosure requirements despite a tightening regulatory environment [1] - The company proactively raised its compliance standards and effectively demonstrated its sustainable profitability, business authenticity, and compliance during multiple rounds of inquiries [1] Group 3: Market Impact and Strategic Importance - The rapid approval of Southern Digital's IPO is seen as a benchmark, illustrating the adaptability of quality enterprises in the face of stringent regulatory scrutiny [2] - The IPO is expected to enhance Southern Digital's R&D capabilities and expand its market presence, contributing positively to the digital transformation of the energy industry and supporting the national "dual carbon" goals [2]

Core Viewpoint - The IPO application of Southern Power Grid Digital Grid Research Institute Co., Ltd. (referred to as "Southern Digital") has been approved by the Shenzhen Stock Exchange, highlighting the company's strong industry position and growth potential in the digital energy sector [1][4]. Group 1: IPO Process and Approval - Southern Digital's IPO application was accepted on June 27, 2025, and successfully passed the review on September 26, taking only 91 days from acceptance to approval [4]. - The efficient approval process is attributed to Southern Digital's solid business foundation and clear strategic positioning, as well as the Shenzhen Stock Exchange's precise support for "three innovations and four new" enterprises [4]. Group 2: Business Overview and Market Position - As a specialized digital enterprise incubated by Southern Power Grid, Southern Digital's business encompasses three main areas: digital grid, enterprise digitization, and digital infrastructure, possessing core technologies in digital energy and intelligent energy sectors [5]. - Industry analysts believe that Southern Digital's significant industry status and growth potential align with the "three innovations and four new" positioning of the Growth Enterprise Market, which is crucial for gaining regulatory approval and market favor in a tightening regulatory environment [5]. Group 3: Impact on the Energy Sector - The Shenzhen Stock Exchange continues to optimize its issuance and listing review mechanisms, actively supporting high-quality enterprises with core competitiveness to access the capital market, thereby injecting momentum into industry leaders [5]. - Southern Digital's rapid approval under stringent regulatory conditions demonstrates its strong adaptability and compliance, showcasing its ability to effectively respond to high scrutiny and rapid review processes [6]. - The IPO is expected to enhance Southern Digital's R&D capabilities and expansion efforts, positively impacting the digital transformation of the energy industry and supporting the national "dual carbon" goals [6].