欣灵电气今日涨停，全天换手率73.19%，成交额6.67亿元，振幅23.67%。龙虎榜数据显示，机构净卖出 1150.31万元，营业部席位合计净买入141.72万元。 深交所公开信息显示，当日该股因日收盘价涨幅达20.00%、日换手率达73.19%上榜，机构专用席位净 卖出1150.31万元。 具体来看，今日上榜的营业部中，共有2家机构专用席位现身，即卖四、卖五，合计买入金额996.56万 元，卖出金额2146.88万元，合计净卖出1150.31万元。 资金流向方面，今日该股主力资金净流入3594.46万元，其中，特大单净流入5240.82万元，大单资金净 流出1646.36万元。近5日主力资金净流入1.62亿元。（数据宝） 欣灵电气7月8日交易公开信息 | 买/ 卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 国泰海通证券股份有限公司顺德大良证券营业部 | 1699.00 | 0.32 | | 买二 | 联储证券股份有限公司宁波分公司 | 1351.95 | 0.00 | | 买三 | 中泰证券股份有限公司北京大望路证 ...

公司基本信息 | 产业别 | 电气设备 | | --- | --- | | A 股价(2025/7/7) | 100.80 | | 深证成指(2025/7/7) | 10435.51 | | 股价 12 个月高/低 | 168.33/34.12 | | 总发行股数(百万) | 240.20 | | A 股数(百万) | 206.20 | | A 市值(亿元) | 207.85 | | 主要股东 | 深圳前海兆威 | | | 金融控股有限 | | | 公司(35.44%) | | 每股净值(元) | 13.43 | | 股价/账面净值 | 7.51 | | | 一个月 三个月 一年 | | 股价涨跌(%) | -3.5 -11.0 130.0 | 近期评等 2025 年 07 月 08 日 赵旭东 H70556@capital.com.tw 目标价(元) 118 | 出刊日期 | 前日收盘 | 评等 | | --- | --- | --- | | 产品组合 | | | | 微型传动系统 | | 63.3% | | 精密零件 | | 30.7% | | 精密模具及其他 | | 6.0% | 机构投资者占流通 A ...

Core Viewpoint - The IPO process of Beijing Haocreat Electric Equipment Co., Ltd. is nearing completion, but the company faces significant challenges regarding its reliance on State Grid and its innovation capabilities [1][2][6]. Financial Performance - The company's revenue for the years 2022 to 2024 is projected to be 560 million, 672 million, and 867 million respectively, with a compound annual growth rate (CAGR) of 24.47% [2]. - The corresponding net profit for the same period is expected to be 68.78 million, 88.32 million, and 110 million, with a CAGR of 26.40% [2]. - The sales revenue from State Grid subsidiaries accounted for 88.92%, 91.99%, and 77.38% of total revenue during the same period, indicating a high customer concentration risk [2][3]. Quality Control Issues - The company faced quality issues leading to a six-month suspension from bidding for certain products by two provincial State Grid companies due to product defects [3][4]. - The revenue affected by quality issues was 2.30 million, 1.82 million, and 5.20 million, representing 0.41%, 0.27%, and 0.60% of total revenue respectively [3]. Research and Development (R&D) Concerns - The company's R&D investment from 2022 to 2024 was 17.30 million, 23.36 million, and 32.32 million, representing only 3.09%, 3.47%, and 3.73% of total revenue, significantly lower than industry peers [6][8]. - The company holds only 14 invention patents, with most obtained after 2020, raising concerns about the authenticity of its innovation efforts [7][8]. Profitability Metrics - The company's net profit margin for the years 2022 to 2024 was 12.28%, 13%, and 12.83%, while the gross profit margin was 25.75%, 27.60%, and 25.67%, outperforming industry averages [9][10]. - The company maintains low financial and operational expenses, with financial expense rates of 0.81%, 0.67%, and 0.44% over the same period [11]. Funding and Capital Structure - The company plans to raise 477 million, with 100 million allocated for "working capital," which has raised questions about the necessity of such funding given its cash flow situation [11].

"反内卷"究竟对于产业发展有何帮助？又会如何深刻影响资本市场？近日，证券时报·券商中国记者采访梳 理了多家券商首席分析师对于"反内卷"的核心观点。 首席分析师们认为，"内卷"导致企业利润下降，导致行业发展出现一些问题，与高质量发展的初衷背道而驰。 因此，有必要约束低效低质的"内卷"行为，鼓励企业通过科技创新和优质产品吸引市场，实现产业的可持续健 康发展。 对于市场而言，随着"反内卷"后续相关政策和规范陆续出台，供给侧调整思路和方式逐渐明朗，上述受"内 卷"困扰的新兴产业等代表性行业将进一步夯实周期性底部，中期看行业竞争格局有望改善，头部企业盈利能 力和抗周期能力均有望得到提升。 推动产业良性发展 "综合治理'内卷'行为，对于当前中国经济有重大意义。"国金证券首席经济学家宋雪涛在接受记者采访时表 示，企业争相非理性降价，导致通胀下行压力，更造成"商品价格下跌 — 企业利润减少—居民收入降低 — 消 费支出减少 — 价格进一步下跌"的螺旋反馈，对宏观经济和各个部门都有不利影响。因此，综合治理"内卷"、 依法依规治理低价无序竞争，是打破通胀下行压力、推动经济循环回归上升螺旋的必要举措。 同时，宋雪涛表示，在产业发展 ...

天眼查资料显示，青岛海尔智能技术研发有限公司，成立于2014年，位于青岛市，是一家以从事研究和 试验发展为主的企业。企业注册资本13000万人民币。通过天眼查大数据分析，青岛海尔智能技术研发 有限公司共对外投资了9家企业，参与招投标项目7次，财产线索方面有商标信息22条，专利信息5000 条，此外企业还拥有行政许可4个。 金融界2025年7月8日消息，国家知识产权局信息显示，青岛海尔智能技术研发有限公司、青岛海尔电冰 箱有限公司、海尔智家股份有限公司取得一项名为"冰箱的门体转动轴心的位置确定方法及冰箱"的专 利，授权公告号CN116182482B，申请日期为2021年11月。 青岛海尔电冰箱有限公司，成立于1994年，位于青岛市，是一家以从事电气机械和器材制造业为主的企 业。企业注册资本21171.126379万人民币。通过天眼查大数据分析，青岛海尔电冰箱有限公司共对外投 资了2家企业，参与招投标项目586次，财产线索方面有商标信息159条，专利信息5000条，此外企业还 拥有行政许可10个。 海尔智家股份有限公司，成立于1994年，位于青岛市，是一家以从事电气机械和器材制造业为主的企 业。企业注册资本943 ...

Core Viewpoint - The company has a strong shareholder backing and rich resources, focusing on expanding its business through acquisitions and diversifying into three main sectors: medical, optical, and electrical [1] Group 1: Company Overview - The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market in 2012 and has since expanded its business through acquisitions in 2015 and 2018 [1] - Yizhuang Investment became the controlling shareholder in 2021, with a registered capital of 18.8 billion yuan and managed assets of 145.1 billion yuan [1] Group 2: Business Segments - The company focuses on the entire value chain of digital pathology, building an integrated ecosystem covering R&D, manufacturing, sales, and services [2] - The optical division has over 30 years of experience, specializing in optical microscopes and related systems, with a customer network spanning 109 countries [3] - The smart electrical business specializes in epoxy insulation components, covering voltage levels from 10kV to 1,100kV, and has established long-term partnerships with leading global companies [4] Group 3: Financial Performance and Projections - The company anticipates revenue growth from 1.477 billion yuan in 2025 to 1.852 billion yuan in 2027, with corresponding net profits increasing from 174 million yuan to 260 million yuan [5] - The earnings per share (EPS) are projected to rise from 0.34 yuan in 2025 to 0.50 yuan in 2027, reflecting a stable growth outlook [5]

碳边境调节机制（CBAM）在欧美国家同步推进，美国从2025年、欧盟从2026年起开始对钢铁、铝、水 泥等高碳产品碳排放差额征收进口税。这使中国产品出口增加了高额成本。根据中国钢铁工业协会测 算，欧盟CBAM实施后，中国长流程炼钢企业出口吨钢成本将增加652元—690元，出口价格竞争力下降 15%—20%。 主动重构市场格局的四阶段路径 面对欧美国家日趋收紧的绿色贸易壁垒政策，我国企业应摒弃消极思维，转向主动作为，以解构、应 对、化解及突破分层递进的多元组合打法，化困局为机遇，化不利为优势。具体可以按照当下、短期、 中期、中长期四个阶段开展相关工作，分步打破绿色贸易壁垒。 第一阶段，在当前半年内，完整收集和分析、动态解构欧美政策关键项（含技术标准、认证程序、数据 报送等），梳理出风险清单、认证清单和数据清单，掌握全面可靠、可迭代的应对基本面。风险清单应 列明关键合规缺口，涵盖碳排放超标、有害物质残留、碳足迹数据可信度、原材料溯源等；认证清单应 列明强制认证名录及流程，涵盖欧盟生态标签、碳足迹认证、电池护照及UL认证（北美电气）、FSC 认证（林业可持续）、EnergyStar（能效）认证；数据清单应明确所需合 ...

Summary of Key Points Core Viewpoint - The company plans to provide a guarantee of up to RMB 128.76 million (approximately USD 18 million) to its subsidiary, JST Power Equipment, Inc., to support its operational and business development needs [1][4]. Group 1: Guarantee Overview - The guarantee is intended to meet the funding needs of JST Power Equipment, Inc., which is a controlled subsidiary of the company [1][4]. - The types of guarantees include general guarantees, joint liability guarantees, mortgages, and pledges [1][4]. - The actual guarantee amount and terms will be determined by the final signed contract or approval from financial institutions [1][4]. Group 2: Subsidiary Information - JST Power Equipment, Inc. is a controlled subsidiary, with the company holding 80% of its shares through a wholly-owned subsidiary [3]. - The subsidiary has stable operations and good creditworthiness, with no overdue guarantee issues [4][5]. - As of the first quarter of 2025, JST Power Equipment, Inc. reported total assets of RMB 928.38 million and a net profit of RMB 7.86 million [3]. Group 3: Board's Opinion - The board believes that providing the guarantee is necessary for the subsidiary's operational development and aligns with the company's overall interests [4][5]. - The board has approved the guarantee proposal, emphasizing that it does not harm the interests of the company or its shareholders [4][5]. Group 4: Cumulative Guarantee Situation - As of the announcement date, the company and its subsidiaries have a total external guarantee amount of RMB 0 million, with no overdue guarantees [5][6]. - The total guarantee amount provided to the controlled subsidiary, excluding the current guarantee, is RMB 3.67 billion, accounting for 82.48% of the company's latest audited net assets [5][6].

Core Points - The article outlines the information disclosure management system of Hainan Jinpan Intelligent Technology Co., Ltd, emphasizing the importance of timely, fair, and accurate disclosure of information to protect the rights of stakeholders [1][2][3] Group 1: Information Disclosure Obligations - The board of directors is responsible for ensuring the effective implementation of the disclosure system, guaranteeing the timeliness and fairness of disclosures [2][3] - Information disclosure must be truthful, accurate, complete, and should not selectively disclose information or mislead investors [2][3] - Insider information must not be disclosed before it is legally required, and individuals with insider knowledge are prohibited from trading based on that information [2][3] Group 2: Reporting Requirements - The company is required to disclose periodic reports, including annual, semi-annual, and quarterly reports, which must be completed within specified timeframes [5][6] - Annual reports must include key financial data, stock and bond issuance details, and significant events affecting the company [13] - The company must disclose any major events that could significantly impact its securities or investment decisions, including changes in management or significant financial losses [13][14] Group 3: Procedures for Disclosure - The process for disclosing periodic reports involves drafting by senior management, auditing by the audit committee, and approval by the board of directors [33][34] - For temporary reports, the company must follow specific procedures to disclose significant events that could affect trading prices or investment decisions [34][35] - The company must ensure that any corrections or clarifications to previously disclosed information are made promptly [35] Group 4: Responsibilities and Compliance - The board secretary is responsible for coordinating disclosure activities and ensuring compliance with regulations [41][42] - All stakeholders, including major shareholders and management, must report any significant changes that could affect the company’s operations or securities [19][20] - The company must maintain confidentiality regarding undisclosed information and ensure that all disclosures comply with legal and regulatory requirements [23][24]

Core Points - The article outlines the articles of association for Hainan Jinpan Smart Technology Co., Ltd, detailing the company's legal framework, governance structure, and operational guidelines [2][4][5] Company Overview - Hainan Jinpan Smart Technology Co., Ltd was established under the Company Law and Securities Law of the People's Republic of China, with its registration completed in Haikou City [2][3] - The company was registered with a capital of RMB 459.286072 million [3] - The company was approved for public offering of 42.57 million shares on March 9, 2021, and is listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [3][4] Business Objectives and Scope - The company's mission is to create a world-class brand, build a century-old enterprise, fulfill employee dreams, and continuously innovate to enhance customer value and social value [4][5] - The business scope includes power facility installation, maintenance, and testing, as well as manufacturing and sales of various electrical and electronic equipment, including smart distribution and control devices, AI applications, and IoT devices [5][6] Share Structure - The company issues shares in the form of stocks, with each share having a nominal value of RMB 1 [7][8] - The total number of shares issued at establishment was 36.9 million, with the current total shares amounting to 459.286072 million, all of which are ordinary shares [8] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, voting, and participation in company decisions, and are required to comply with laws and the company's articles of association [12][13] - The company has provisions for shareholder meetings, including annual and extraordinary meetings, to discuss significant corporate matters [48][49] Governance and Management - The company is governed by a board of directors, which is responsible for major decisions and oversight of management [46][47] - The articles of association stipulate the procedures for appointing and removing directors, as well as the responsibilities of the management team [18][19] Financial Assistance and Share Repurchase - The company may provide financial assistance for acquiring its shares under specific conditions, with a limit of 10% of the total issued capital [8][9] - The company can repurchase its shares under certain circumstances, such as capital reduction or employee stock ownership plans [10][11]