Core Insights - The 138th Canton Fair is showcasing Dongguan's new image as a "City of Manufacturing Aesthetics," attracting global attention and buyers [1][13] - Dongguan organized a "Manufacturing Aesthetics" tour from October 23 to 25, allowing buyers and media to explore local manufacturing capabilities [1][13] - The integration of design, craftsmanship, branding, and cultural expression is crucial for Dongguan's products to ascend the high-end value chain [3][11] Group 1: Buyer Engagement - Over ten buyers, including major brands from Argentina and Brazil, engaged in procurement meetings with Dongguan manufacturers [1][3] - Brazilian buyer Red Dull expressed interest in collaborating with local manufacturers due to their strong production capabilities in clean energy and automotive parts [3] - Canadian buyer Sal praised Dongguan's aesthetic design, highlighting its suitability for high-humidity environments [5] Group 2: Manufacturing Aesthetics - Dongguan's manufacturing brands, such as Weimei Cultural Ceramics and Microstone Technology, are focusing on aesthetic integration in their products [9][11] - The concept of "Manufacturing Aesthetics" is not limited to traditional industries but also encompasses technological innovation [11] - The launch of innovative products, like the humanoid robot by TuoSiDa, exemplifies the elevation of manufacturing aesthetics in the tech sector [11] Group 3: Media and Influencer Engagement - A media and influencer group visited various Dongguan manufacturing sites to experience and promote the local manufacturing aesthetics [1][7] - The tour included live streaming sessions to showcase Dongguan's manufacturing capabilities to a broader audience [11] Group 4: Global Perspectives - International buyers noted the diversity and innovation in Dongguan's manufacturing, with many expressing interest in the local market [15][16] - The transformation of Dongguan's manufacturing sector serves as a replicable model for other traditional industrial cities in China [16][17] - The emphasis on creativity and technological innovation reflects a broader trend of consumption upgrading and industrial evolution in Dongguan [18][19]

记者丨郑康喜 程浩 编辑丨蒋韵 采购意向建立在东莞企业的核心竞争力上。其中设计、工艺、品牌塑造与文化表达的深度融 合，是产品迈向高端价值链的必然，也是东莞品牌吸引采购商的重要因素。 在海新智能的展厅里，来自加拿大的采购商Sal对东莞"制造美学"大加赞赏。"这种浑然天成的 美学设计，足以让普通消费者产生'这产品真不一样'的感觉。更重要的是，这类创新产品能完 美适应高湿度环境，这正是我们专程来广交会要寻找的产品方向" 。 第138届广交会正如火如荼地开展。本届广交会，东莞首度以"制造美学之城"的城市产业新形 象组团亮相，吸引了全球客商的关注，东莞制造"种草"全球。 在广交会举办的窗口期，10月23—25日，东莞组织开展"制造美学"之旅活动。在3天的行程 中，广交会采购商、主流媒体、财经大V和探厂博主走进东莞制造一线，进行采购对接和采 风，探寻东莞"制造美学"密码。 23日， 10余位广交会采购商走进瑞丰源、海新智能、葛天那、博力威等企业进行采购对接。 这些采购商中，包括阿根廷头部餐厨连锁品牌、巴西新能源汽车连锁企业等。 来自巴西的采购商Red Dull认为，清洁能源对全球产业发展影响深远，通过此次深入博力威考 察 ...

Group 1: AI Industry Development - The "Industrial AI Application Innovation Challenge" has attracted over 1,000 students, showcasing the growing interest in AI solutions in Dongguan's Binhai Bay area [4] - Binhai Bay has actively supported multiple AI competitions since July, indicating a strategic focus on fostering innovation and talent in the AI sector [4] Group 2: Economic Growth in Chang'an - Chang'an Town has seen a 19.8% increase in market entities over three years, highlighting the success of the "Hundred Million Thousand Project" in stimulating local economic development [6] - The town produces nearly 200 smartphones per minute and generates over 13 billion yuan in GDP per square kilometer, positioning it as a leading economic hub in Dongguan [6] Group 3: Healthcare Collaboration - Dongguan has established four medical alliances with Guangzhou hospitals in six months, enhancing healthcare access for its citizens [9] - The rapid formation of these alliances reflects a strategic move towards improving the quality of medical services in the region [9] Group 4: Corporate Developments - Marco Polo Holdings has successfully listed on the Shenzhen Stock Exchange, raising 1.643 billion yuan through the issuance of 11.9492 million shares at a price of 13.75 yuan per share [11] - The company reported a projected revenue of 7.324 billion yuan and a net profit of approximately 1.327 billion yuan for the upcoming fiscal year, solidifying its position as a major player in the building ceramics market [11] Group 5: Land Compensation Issues - Four companies, including Fuying Group, are suing the Daojiao Town government for 1.192 billion yuan in compensation for land that has not been compensated for over a decade [17] - The court has ruled that Daojiao Town is responsible for the compensation, but the companies' claims against the Natural Resources Bureau were not supported [17]

近期，IPO市场亮点纷呈，港股市场与明星企业上市成为核心看点。 本周周五过会的沐曦股份是一家GPU新秀，其科创板IPO于6月30日获受理，本次IPO拟募资39.04亿元。目前公司尚未盈利，适用于科创板的第四套上市标 准，2024年归母净利润为-14.09亿元。 经同花顺iFinD统计，年内安排上会企业数量已达67家，已超去年全年。另外，从当前的IPO存量企业来看，截至目前，共有275家企业正在排队中，其中北 交所存量IPO企业数量居首，达169家，占比超六成。 一、本周过会 1、沐曦集成电路(上海)股份有限公司 沐曦股份IPO计划发行不超过4010万股A股普通股，拟募集资金39.04亿元，其保荐人为华泰联合证券有限责任公司。 沐曦股份上市募集资金用于投资"新型高性能通用GPU研发及产业化项目""新一代人工智能推理GPU研发及产业化项目"和"面向前沿领域及新兴应用场景的 高性能GPU技术研发项目"。 招股书显示，陈维良合计控制沐曦股份22.94%的股权，并且拥有公司董事会除独立董事之外半数以上成员提名权，为发行人实际控制人。公司主要股东包 括混沌投资及其一致行动人葛卫东、经纬创投、和利资本、红杉资本等一众明星投 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、募集资金基本情况 二、募集资金监管协议的签订和募资金专户的开立与存储情况 根据《上市公司募集资金监管规则》《深圳证券交易所上市公司自律监管指引第1号一一主板上市公司 规范运作（2025年修订）》等有关法律法规规定以及公司《募集资金管理办法》的要求，公司于2025年 10月17日召开第二届董事会第十二次会议审议通过了《关于确认募集资金账户的议案》，同意指定公司 在中国农业银行股份有限公司东莞城区支行、中国银行股份有限公司丰城支行、招商银行股份有限公司 东莞分行南城支行、中信银行股份有限公司东莞分行、上海浦东发展银行股份有限公司东莞分行开立的 银行账户为募集资金专户。 截至2025年10月23日，公司与保荐机构、开户银行已完成全部《募集资金三方监管协议》的签订，公司 募集资金专户情况如下： ■ 注1：募集资金专户存放合计金额与实际募集资金净额之间的差额系本次发行暂未支付和置换的发行费 用等； 注2:部分募集资金专户余额为0元，主要系截至2025年10月23日募集资 ...

Core Viewpoint - Marco Polo has officially listed on the Shenzhen Stock Exchange, marking a significant milestone for the company as a leading player in the domestic building ceramics industry [1] Group 1: Company Overview - Marco Polo is a top-tier enterprise in the domestic building ceramics industry, with a mission to create the first world-renowned brand for Chinese ceramics [2] - The company has an annual production capacity exceeding 200 million square meters and has ranked first in revenue for three consecutive years [2] - Marco Polo operates under two main brands: "Marco Polo Tiles" and "Weimei L&D Ceramics" [1][3] Group 2: Innovation and Green Development - The company focuses on research, production, and sales of building ceramics, with major production bases located in Dongguan, Qingyuan, Fengcheng, Chongqing, and Tennessee, USA [3] - Marco Polo has developed various green low-carbon technologies across all production stages, including recycling technologies for tailings and waste materials, energy-saving grinding technologies, and clean energy utilization techniques [3] - The company holds 26 core invention patents and has received 12 technological achievements, with 4 reaching international leading levels [3] Group 3: Commitment to Sustainability - Marco Polo emphasizes green development by enhancing energy-saving and environmental protection technologies, achieving clean production, and ensuring waste recycling [4] - The company has been recognized as a national "Green Factory" and has received multiple honors for its commitment to clean production and energy efficiency [4] Group 4: Future Goals - The chairman of Marco Polo, Huang Jianping, stated the company's commitment to focusing on core technological breakthroughs and enhancing product and service quality [5] - The company aims to become a trusted and internationally influential listed company, contributing to industry progress and the transformation of "Made in China" to "Created in China" [5]

Core Insights - Mona Lisa reported a third-quarter revenue of 1.062 billion yuan, a year-on-year decrease of 14.20% [1] - The net profit for the third quarter was 86.1724 million yuan, showing a year-on-year increase of 48.79% [1] - For the first three quarters, the total revenue was 2.977 billion yuan, reflecting a year-on-year decline of 16.66% [1] - The net profit for the first three quarters was 80.5042 million yuan, which represents a year-on-year decrease of 42.71% [1]

Core Viewpoint - Marco Polo, the largest tile manufacturer in China, successfully listed on the Shenzhen Stock Exchange, marking a significant achievement as the only tile company to do so in the past five years [1][3][9]. Group 1: Company Overview - Marco Polo was founded in 1996 and is headquartered in Dongguan, specializing in the research, production, and sales of building ceramics [15]. - The company has developed into one of the largest manufacturers and sellers of building ceramics in China, with major brands including "Marco Polo Tiles" and "Weimei L&D Ceramics" [15]. - As of the end of 2024, Marco Polo has 8,276 sales outlets and operates five production bases in China and the United States [15]. Group 2: Financial Performance - In the years 2022 to 2024, Marco Polo achieved revenues of 8.661 billion, 8.925 billion, and 7.324 billion respectively, with corresponding net profits of 1.514 billion, 1.353 billion, and 1.327 billion [15]. - The company’s market share increased from 2.62% in 2022 to 3.27% in 2024, indicating a steady growth trajectory [17]. - For the first three quarters of 2025, Marco Polo expects revenues between 4.85 billion and 5.1 billion [17]. Group 3: IPO Details - Marco Polo's IPO involved issuing 119 million shares at an issue price of 13.75 yuan per share, raising a total of 1.643 billion yuan [9]. - The company’s stock opened at 33.1 yuan per share, a 140.73% increase from the issue price, with a market capitalization approaching 40 billion yuan on the first day [7][3]. - The funds raised will be used for various projects, including the construction of smart ceramic home industry parks and upgrades to production lines [9]. Group 4: Leadership and Control - Huang Jianping, the founder and chairman of Marco Polo, holds a 42.12% stake in the company and controls 95.55% of the voting rights, making him the actual controller [21]. - Huang also controls another listed company, *ST Sitong, which focuses on various ceramic products, indicating his significant influence in the ceramics industry [23].

Core Viewpoint - Marco Polo Holdings Co., Ltd. has successfully listed on the Shenzhen Stock Exchange, marking a significant milestone in its development journey [1][3] Company Overview - Marco Polo Holdings is a leading enterprise in the domestic building ceramics sector, established in 1996 and headquartered in Dongguan [3] - The company integrates research, production, and sales of building and sanitary ceramics, offering a diverse product line that meets various consumer needs for home decoration and construction projects [3] - Marco Polo is recognized as one of the most powerful manufacturers in the domestic building ceramics industry, with its brands "Marco Polo Tiles" and "Weimei L&D Ceramics" [3] - According to the China Building Sanitary Ceramics Association, the company ranked first in revenue in the domestic building ceramics industry from 2022 to 2024, placing it in the top tier of comprehensive strength within the sector [3] Research and Development Collaboration - Since September 2021, CEAM and Marco Polo have collaborated to establish a "Ceramic Material Stress Testing and Numerical Simulation Engineering Research Center," initiating deep cooperative innovation in key ceramic material technologies [5] - Over the past five years, the partnership has achieved significant results, including a project on "Residual Stress Characterization and Testing Methods for Ceramic Slabs," which has reached an internationally leading level and filled a gap in domestic and international testing technology [5] - The collaboration has led to the joint application of four invention patents, showcasing the innovative vitality of the integration of industry, academia, and research [5] Future Prospects - The successful listing of Marco Polo opens up broader opportunities for collaboration with CEAM, aiming to deepen strategic cooperation in technology research and development, achievement transformation, and talent cultivation [7] - Both parties aspire to promote the building ceramics industry towards high-end, green, and intelligent development, contributing to technological self-reliance and industrial upgrading [7]

Core Viewpoint - Two notable building material companies listed on the Shenzhen Stock Exchange since 2025, HanGao Group and Marco Polo, have attracted significant attention from the capital market, with both experiencing substantial market capitalization growth post-listing [1][2]. Company Performance - HanGao Group's market capitalization reached over 300 billion on its listing day, later stabilizing at 238.49 billion by August 1, 2025, and exceeding 247 billion by October 22, 2025, with a stock price of over 61 [2][4]. - Marco Polo's stock closed at 31.46, reflecting a 128.80% increase, with a market capitalization of 375.92 billion on October 22, 2025, and a trading volume of 25.82 billion [3][5]. - HanGao Group's revenue from 2022 to 2024 was 16.20 billion, 22.22 billion, and 28.57 billion, with a compound annual growth rate (CAGR) of 32.78%, and net profit of 2.06 billion, 3.33 billion, and 5.31 billion, with a CAGR of 60.74% [6][10]. - Marco Polo's revenue for the same period was approximately 86.6 billion, 89.25 billion, and 73.24 billion, with net profits of 15.14 billion, 13.53 billion, and 13.27 billion [6][7]. Market Dynamics - The building materials and home furnishing sector has faced challenges due to the real estate market, but recent trends such as market upgrades and new housing projects have revived interest [8]. - The industry is characterized by a large scale, providing ample opportunities for companies to grow, especially as smaller competitors exit the market [8][14]. - The market concentration is increasing, benefiting leading companies like HanGao and Marco Polo, which can capture a larger market share [8][13]. Investment Appeal - Newly listed companies often attract investor interest, leading to significant initial stock price increases [12]. - Supportive policies, such as home upgrades and urban renewal initiatives, have bolstered market confidence [13]. - Companies demonstrating continuous high growth and innovative strategies are more likely to attract investor attention [12][14].