Core Viewpoint - The company, Buke Co., Ltd., focuses on industrial automation and robotics, emphasizing innovation and R&D to provide high-quality, cost-effective solutions in the context of increasing demand for automation and digitalization in various industries. Group 1: Company Overview - Buke Co., Ltd. is a high-tech enterprise engaged in the R&D, production, and sales of core components for industrial automation and robotics, as well as digital factory solutions [5][20]. - The company has established a complete product line with independent intellectual property rights, covering various automation and digitalization technologies [5][24]. Group 2: Financial Performance - For the reporting period, the company achieved operating revenue of 547.47 million yuan, a year-on-year increase of 8.09%, while the net profit attributable to shareholders decreased by 19.43% to 48.89 million yuan [32]. - The total assets as of December 31, 2024, were 1.02 billion yuan, reflecting a growth of 7.55% compared to the beginning of the period [32]. Group 3: Business Model - The company employs a combination of inventory production and order-based production, adjusting production plans based on sales forecasts and actual sales [13][14]. - The sales strategy includes both direct sales to key clients and distribution through a network of dealers [15]. Group 4: Industry Position and Trends - Buke Co., Ltd. is recognized as a leading player in the domestic industrial automation control industry, with a market share of 3% in the human-machine interface (HMI) market, ranking fourth among domestic brands [24]. - The company is the largest manufacturer in the domestic DC servo market, with a market share of 13% in 2022, and it continues to expand its presence in the mobile robotics sector [25]. Group 5: R&D and Innovation - The company maintains a dual approach to R&D, focusing on both forward-looking technology development and demand-driven product innovation [16][17]. - R&D investment for the reporting period was 16.72 million yuan, accounting for 12.67% of operating revenue, indicating a commitment to innovation [52]. Group 6: Industry Growth and Future Outlook - The global industrial automation equipment market is projected to grow from 213.49 billion USD in 2022 to 412.8 billion USD by 2030, with a compound annual growth rate of approximately 8.59% [29]. - The Chinese industrial automation market is expected to exceed 890 billion yuan by 2029, with a compound annual growth rate of about 7.7% from 2024 to 2029 [30].

Inflation Data - March CPI year-on-year growth rate was -0.1%, slightly better than the previous value of -0.7% and in line with market expectations[2] - March PPI year-on-year growth rate recorded at -2.5%, slightly lower than the previous value of -2.2%[2] Price Movements - Food prices decreased by 1.4% month-on-month, contributing approximately 0.24 percentage points to the CPI decline[4] - The price of wearable smart devices increased by 4.6% year-on-year, driven by advancements in high-tech industries[2] Core CPI Insights - Core CPI (excluding food and energy) rose by 0.5% year-on-year in March, reversing from a decline of 0.1% in February[8] - Service prices increased by 0.3% year-on-year in March, contributing positively to the CPI[8] Commodity Prices - March Brent crude oil average price was $72.51 per barrel, down by $2.81 from the previous month[7] - Domestic gasoline prices decreased by 3.5% month-on-month, impacting CPI by approximately 0.12 percentage points[7] Economic Outlook - The government aims for a CPI increase of around 2% for 2025, indicating a shift towards balancing supply and demand rather than strict inflation control[8] - The report suggests that effective demand recovery has significant potential, with the economy still in the early stages of inflation bottoming out[2]

创业板投资风险提示：本次发行股票拟在创业板上市，创业板公司具有创新投入大、新 旧产业融合存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本公司所披露 的风险因素，审慎作出投资决定。 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 （北京市朝阳区安立路66号4号楼） 固高科技股份有限公司 首次公开发行股票并在创业板上市招股说明书 声明 固高科技股份有限公司 GOOGOL TECHNOLOGY CO., LTD. （深圳市南山区高新区南区深港产学研基地西座二楼W211室） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） 本次发行概况 | 发行股票类型 | 人民币普通股（A股） | | --- | --- | | 发行股数 | 为 本次公开发行4,001.00万股，占发行后总股本的比例 10.00%。本次发行股份均为公开 ...

上海众辰电子科技股份有限公司 （上海市松江区泖港镇叶新公路 3768 号） 首次公开发行股票并在主板上市 招股说明书 （注册稿） 声明：本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本招股说明 书（注册稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式公 告的招股说明书全文作为投资决定的依据。 保荐机构（主承销商） （山东省济南市经七路 86 号） 上海众辰电子科技股份有限公司 招股说明书 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表明 其对注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明 其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。 任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 上海众辰电子科技股份有限公司 招股说明书 | | | | 富 明 … | | --- | | 目 求…… | | 第一节 释义 ...

上海众辰电子科技股份有限公司 （上海市松江区泖港镇叶新公路 3768 号） 首次公开发行股票并在主板上市 招股说明书 （上会稿） 声明：本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本招股说明 书（上会稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式公 告的招股说明书全文作为投资决定的依据。 保荐机构（主承销商） （山东省济南市经七路 86 号） 上海众辰电子科技股份有限公司 招股说明书 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表明 其对注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明 其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。 任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 | 发行股票类型 | 人民币普通股（A 股） 每股面值 | 人民币 1.00 元 | | --- | --- | --- | ...

上海众辰电子科技股份有限公司 （上海市松江区泖港镇叶新公路 3768 号） 首次公开发行股票并在主板上市 招股说明书 （申报稿） 声明：本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本招股说明 书（申报稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式公 告的招股说明书全文作为投资决定的依据。 保荐机构（主承销商） （山东省济南市经七路 86 号） 上海众辰电子科技股份有限公司 招股说明书 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表明 其对注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明 其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。 任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 | 发行股票类型 | 人民币普通股（A 股） | | 每股面值 | 人民币 1.00 元 | | --- | --- | -- ...