今年春节后，《哪吒2》和DeepSeek开源大模型的"硬科技+软文化"组合，带火了相关概念股。最近， 影石Insta360全景相机、泡泡玛特旗下人气IP LABUBU 3.0系列被市场称为"现象级火爆"，这能否给中 国资产带来新的叙事逻辑？ 今天上午，影石概念股弘景光电（301479）"20CM"涨停；泡泡玛特上涨11.14%，盘中再创历史新高， 带动A股IP经济概念盘中直线拉升，盛天网络、创源股份等个股大涨。 日前，影石科创板IPO注册获正式批复，A股市场即将迎来"全球智能影像第一股"。市场人士表示，随 着影石热度攀升，建议关注产业链机会：一是核心供应商；二是股权关联的企业；三是产业链相关标 的。 资料显示，弘景光电主要从事光学镜头及摄像模组的研发、设计、制造和销售。公司在投资者互动平台 表示，影石创新是其重要客户之一。另外，瀛通通讯上午涨停，华金资本、商络电子等概念股也上涨。 泡泡玛特股价再创历史新高 A股上午震荡调整，截至中午收盘，上证指数下跌0.03%，深证成指下跌0.43%，创业板指下跌0.55%。 PEEK材料、游戏、银行等板块涨幅居前，地产、消费等板块跌幅居前。 弘景光电"20CM"涨停 今天上 ...

Group 1 - The company held its fourth board meeting on April 17, 2025, where all nine directors participated, and the meeting was deemed legal and effective [2][4]. - The board approved the proposal for the company to issue A-shares to specific investors, confirming compliance with relevant laws and regulations [6][55]. - The independent directors expressed clear agreement with the proposal [3][23]. Group 2 - The company plans to issue up to 68,000,000 A-shares, which will not exceed 30% of the total share capital prior to the issuance [13][64]. - The issuance will be conducted through a specific target offering, with a maximum of 35 investors participating [15][67]. - The shares will have a par value of RMB 1.00 each, and the pricing will be based on 80% of the average stock price over the 20 trading days prior to the pricing date [11][62]. Group 3 - The company aims to raise a total of no more than RMB 100,000.00 million through this issuance, with the net proceeds intended for specific projects [22][77]. - The shares issued will be subject to a six-month lock-up period post-issuance [18][69]. - The company will open a special account for the management of the raised funds and sign a tripartite supervision agreement [47][97]. Group 4 - The board proposed to hold the first extraordinary general meeting of 2025 on May 6, 2025, to discuss the approved proposals [49][100]. - The meeting will allow for both on-site and online voting, ensuring accessibility for all shareholders [103][104]. - The resolutions passed at the board meeting require a two-thirds majority approval from the shareholders present at the general meeting [108].

Summary of Conference Call Records Company Overview - The primary focus is on **Macroview Technology**, a leading global supplier of panoramic camera lenses and imaging modules, with products used in various electronic devices, including smartphones, home appliances, and automobiles [1][2]. Key Industry Insights - **Smart Automotive Sector**: Macroview Technology has established stable partnerships with major automotive manufacturers and is involved in two main projects: capacity expansion and facility upgrades, aiming to increase production capacity by approximately 27.96 million units [2][3]. - **Growth in Camera Usage**: The average number of cameras per vehicle has increased from 1.7 in 2018 to 3 in 2023, with some models, like BYD's "Heavenly Eye," featuring up to 12 cameras, indicating a rapid growth trajectory in automotive camera installations [4][7]. Financial Performance - Projected revenues for Macroview Technology from 2022 to 2024 are approximately **450 million**, **770 million**, and **1.09 billion** CNY, respectively, with a compound annual growth rate (CAGR) exceeding 50% [9]. - The company’s net profit is expected to grow from **65 million** to **165 million** CNY over the same period, reflecting a strong financial outlook [9]. Competitive Position - Macroview Technology holds a significant market share in the panoramic camera sector, with a reported growth rate of **14.2%** in this segment [3]. - The company has a deep integration with leading players in the film and television industry, achieving a **75%** share in the imaging module market for cinematic applications [6]. Emerging Trends - The electronic price tag market is projected to grow significantly, with a global market penetration of only **15%** as of 2023, indicating substantial growth potential [11]. - The company is positioned to benefit from the increasing demand for digital retail solutions, with a focus on electronic price tags as a foundational technology for digital stores [12]. Risks and Challenges - Potential risks include reliance on specific suppliers for electronic paper film, which could impact production if supply issues arise [15]. - The company faces challenges related to raw material price volatility, which could affect profit margins due to the lack of pricing power [21]. Conclusion - Macroview Technology is well-positioned in the rapidly growing sectors of panoramic cameras and smart automotive applications, with strong financial projections and a competitive edge in partnerships and market share. However, it must navigate risks associated with supply chain dependencies and raw material costs to sustain its growth trajectory.

Core Viewpoint - The rapid development of smart technologies is driving the growth of digital terminal products, presenting new opportunities for domestic optical lens manufacturers amid the wave of domestic substitution [1][2]. Group 1: Company Overview - Hongjing Optoelectronics, established in 2012, aims to become a leading provider of optical imaging and video imaging solutions in the global optoelectronics sector [1]. - The company has achieved a compound annual growth rate (CAGR) of 75% in revenue and 176% in net profit from 2021 to 2023, tripling its revenue scale in just two years [1][2]. - Hongjing Optoelectronics has established a strong market presence in various sectors, including smart automotive, smart home, and panoramic/sports cameras, with a significant market share [2][3]. Group 2: Market Position and Competitiveness - In the panoramic/sports camera sector, Hongjing Optoelectronics holds over 25% of the global market share, serving as a core supplier for leading companies like Yingshi Innovation, which has a market share of 50.7% [2]. - The company ranks sixth globally in the automotive optical lens market with a 3.70% market share and holds a 9.95% share in the home camera optical lens market as of 2023 [2]. Group 3: Research and Development - Hongjing Optoelectronics has maintained a R&D investment CAGR of 55% from 2021 to 2023, with R&D expenses consistently accounting for over 6% of revenue [4]. - The company has a dedicated R&D team of 216 personnel and collaborates with various research institutions to enhance its technological capabilities [4][5]. - As of June 30, 2024, the company has secured 270 domestic patents, including 116 invention patents, and is focusing on advanced research in areas such as smart driving and AR technology [5]. Group 4: IPO and Future Plans - The completion of the IPO will enable Hongjing Optoelectronics to accelerate its development, with nearly 500 million yuan allocated for expanding production capacity and R&D [6]. - The company plans to enhance its production capacity by over 35 million precision optical lenses and modules, addressing existing capacity constraints [6]. - Future R&D initiatives will focus on smart driving, laser radar, AR, medical lenses, and advanced optical technologies, aligning with emerging market trends [6][7]. Group 5: Industry Outlook - The optical lens market is expected to grow significantly, with supply projected to increase from 3.525 billion units in 2020 to 6.331 billion units by 2027 [7]. - Hongjing Optoelectronics aims to leverage its core technological advantages and expand its brand presence while focusing on the smart automotive and emerging consumer electronics sectors [7].

股票简称：中润光学 股票代码：688307 嘉兴中润光学科技股份有限公司 （浙江省嘉兴市秀洲区高照街道陶泾路 188 号） 首次公开发行股票科创板上市公告书 保荐机构（主承销商） （注册地址：深圳市罗湖区红岭中路 1012 号国信证券大厦十六至二十六层） 二零二三年二月十五日 声明及承诺 本公司及全体董事、监事、高级管理人员保证上市公告书所披露信息的真实、 准确、完整，承诺上市公告书不存在虚假记载、误导性陈述或重大遗漏，并依法 承担法律责任。 上海证券交易所、有关政府机关对本公司股票上市及有关事项的意见，均不 表明对本公司的任何保证。本公司提醒广大投资者认真阅读刊载于上海证券交易 所网站（http：//www.sse.com.cn）的本公司招股说明书"风险因素"章节的内容， 注意风险，审慎决策，理性投资。 本公司提醒广大投资者注意，凡本上市公告书未涉及的有关内容，请投资者 查阅本公司招股说明书全文。 如无特别说明，本上市公告书中的简称或名词的释义与本公司招股说明书中 的相同。 二、新股上市初期的投资风险提示 嘉兴中润光学科技股份有限公司（以下简称"中润光学"、"发行人"、"公 司"或"本公司"）股票将于 20 ...