综上所述，保荐人对本次向特定对象发行股票部分限售股上市流通事项无异议。 （以下无正文） 相关ETF 食品饮料ETF 中信证券股份有限公司 关于苏州绿的谐波传动科技股份有限公司 向特定对象发行股票之限售股解禁上市流通的核查意见 中信证券股份有限公司（以下简称"保荐人"）作为苏州绿的谐波传动科技股份有 限公司（以下简称"绿的谐波"或"公司"）2022年度向特定对象发行A股股票及持续督 导的保荐人，根据《中华人民共和国公司法》《中华人民共和国证券法》《证券发行 上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》以及《上海证券交 易所科创板上市公司自律监管指引第1号——规范运作》等相关法律法规和规范性文 件的要求，对绿的谐波向特定对象发行股票之限售股解禁上市流通事项进行了审慎核 查，核查情况及核查意见如下： 一、本次上市流通的限售股类型 公司向特定对象发行股票注册的批复》（证监许可〔2024〕1008号），同意公司 向特定对象发行股票的注册申请。本次向特定对象发行新增股份14,448,867股，本 次发行新增股份的登记托管手续已于2025年1月6日在中国证券登记结算有限责任 公司上海分公司办理完成。本次向特定 ...

Group 1 - Company plans to issue 128 million A-shares at a price of 7.21 yuan per share, raising up to 925 million yuan for projects and working capital [1] - The funds will be allocated to the servo press and automated stamping line phase II project and to supplement working capital and repay bank loans [2] - After the issuance, Yangzhou Industrial Investment Group will hold 18.91% of the company’s shares, gaining control and making it the largest shareholder [2][3] Group 2 - The servo press and automated stamping line phase II project has a total investment of 303.66 million yuan, with a production capacity of 31,700 tons of large precision structural parts annually [2] - The project is expected to save 350 million yuan in external structural part purchases annually and generate a net profit of approximately 41.38 million yuan after tax [2] - Yangzhou Industrial Investment Group aims to enhance the vitality of state-owned enterprises and promote economic development through this acquisition, aligning with the city's industrial development strategy [3]

Core Viewpoint - Shanghai aims to enhance its pilot testing service supply in key industries by establishing around 20 municipal pilot testing platforms by 2027, with a goal of creating 3 national-level platforms [1] Group 1: Pilot Testing Platforms - The implementation plan includes building comprehensive, specialized, and distinctive pilot testing platforms in key industrial sectors [1] - The focus will be on industries such as integrated circuits, large aircraft, gas turbines, and industrial mother machines to improve testing and validation service capabilities [1] Group 2: Software and AI Development - The plan emphasizes accelerating the construction of pilot testing platforms for foundational software, industrial software, and artificial intelligence, including model training and evaluation [1] Group 3: New Materials and Biomanufacturing - There will be efforts to promote the conversion of technological achievements into process packages and complete equipment in fields like new materials and biomanufacturing [1] - The development of contract research outsourcing models will be encouraged [1] Group 4: Future Industry Integration - The initiative aims to facilitate the integration of production, education, research, and application in future industries, shortening the pilot testing maturation cycle and addressing gaps from engineering to industrialization [1]

Group 1: Regional Development Strategy - Shandong is positioned as a crucial link connecting northern and southern China, aiming to become an important economic growth pole in the northern region [1] - The province is integrating into national development strategies, focusing on ecological protection and high-quality development in the Yellow River basin [1][9] - The emergence of the Jinan and Qingdao metropolitan areas is enhancing regional economic development and connectivity [2][4] Group 2: Transportation and Infrastructure - The Jinan metropolitan area is developing a comprehensive highway network and a "米字型" high-speed rail system, facilitating daily connections to 366 cities [3] - The Qingdao metropolitan area is constructing a robust highway network and has achieved near rail-bus integration between Qingdao and Weifang [3] - The "济青快线" significantly reduces travel time between Jinan and Qingdao, enhancing inter-city collaboration [4] Group 3: Industrial Collaboration - The Jinan and Qingdao metropolitan areas are forming advanced manufacturing clusters, with specific focus on shipbuilding and industrial machinery [3] - Collaborative efforts in technology innovation and digital economy are being fostered between the two metropolitan areas [4] - Shandong's county-level economies are being strengthened through specialized industries, with significant contributions from the rubber tire industry in GuoRao [6][7] Group 4: Economic Integration with Other Regions - Shandong is enhancing its connections with the Yangtze River Delta, facilitating industrial cooperation and project signings [8] - The province is also focusing on ecological protection and high-quality development in the Yellow River basin, promoting inter-regional collaboration [9] - Shandong's strategic location is pivotal for national economic development, serving as a bridge for both domestic and international trade [1][8]

Group 1 - The essential viewpoint is that the essential consumer sector shows superior valuation cost-effectiveness, with the average valuation percentile for food and beverage, as well as agriculture, forestry, animal husbandry, and fishery over three and five years being only 15.13%/9.09% and 12.67%/9.24%, indicating potential for valuation recovery [1] - The midstream materials and manufacturing sectors, represented by automotive and machinery equipment, as well as the large financial sector represented by banks, are at historical high valuation levels, suggesting limited upward space amid volume contraction and structural adjustment [1] - Attention should be paid to certain sectors experiencing rapid short-term valuation increases, with textiles, apparel, and beauty care having current one-year average valuation percentiles exceeding 92%, indicating a significant convergence of valuation cost-effectiveness advantages [1] Group 2 - Most primary industries experienced declines this week, with TMT and large financial sectors leading the drop, particularly in computer, communication, electronics, and non-bank financials [1] - Emerging industries overall declined, with the digital economy facing the largest drop, as cloud computing and IDC fell by 3.63% and 3.5% respectively; high-end equipment manufacturing also weakened across the board, with industrial mother machines and integrated circuits dropping by 3.87% and 2.25% respectively [1] - The Shanghai Composite Index ETF (510760) tracks the Shanghai Composite Index (000001), which is compiled by the Shanghai Stock Exchange and encompasses all A-shares and B-shares listed on the exchange, effectively reflecting the overall performance of the Shanghai securities market [1]

Core Viewpoint - The articles emphasize the importance of building a self-controlled, secure, and reliable domestic production and supply system in key areas related to national security, enhancing the resilience and safety of industrial and supply chains, and fostering technological innovation to maintain a competitive edge in the global market [2][3][4][5] Group 1: Industrial Chain and Supply Chain Resilience - Enhancing the resilience and safety of industrial and supply chains is crucial for developing new productive forces and ensuring economic stability and growth [3] - China's industrial system is the largest and most complete globally, with over 220 out of 500 major industrial products ranking first in global output, contributing approximately 30% to global manufacturing value added in 2023 [3] - There are existing issues within China's industrial chain, such as being "large but not strong" and "complete but not refined," indicating a need for improvement in resilience rather than just length [3] Group 2: Addressing Weaknesses and Strengthening Strengths - Addressing weaknesses involves constructing a self-controlled and reliable domestic production supply system in critical areas to ensure economic operation during extreme situations [4] - Strengthening strengths requires consolidating and enhancing the international leading position of advantageous industries, particularly in high-speed rail, power equipment, new energy, and communication devices [5] - The focus should also be on fostering new industries and technologies, such as 5G, smart connected vehicles, and new materials, to create new advantages for future development [5]

Group 1 - The "Zhejiang Manufacturing Tiangong Ding" award is the highest honor in the manufacturing sector of Zhejiang Province, aimed at promoting high-quality development in manufacturing through innovation and industry integration [1] - Hangzhou and its districts have won this award for three consecutive years, receiving the first batch of "Zhejiang Manufacturing Tiangong Ding" gold awards, indicating significant achievements in industrial and economic growth [1] - A total of 6 cities and 27 counties in the province received the award this year, with 20 locations being recognized for their continuous excellence over three years [1] Group 2 - Hangzhou has made breakthroughs in industrial cluster development, with four clusters recognized as national advanced manufacturing industry clusters, and one cluster achieving a "zero breakthrough" in the 2024 national small and medium-sized enterprise characteristic industry cluster [2] - The city is focusing on new industrialization goals, promoting digital transformation across 6,928 industrial enterprises, and has developed a plan for future industry cultivation in areas like artificial intelligence and new materials [2] - The Hangzhou Economic and Information Bureau emphasizes the importance of continuous innovation and transformation in industries, aiming to drive high-quality development in manufacturing through dual-driven technology and industry innovation [2]

Group 1: Manufacturing Industry Overview - The industrial added value of large-scale industries in China experienced a year-on-year growth of 6.1% in April 2025 [2] - The manufacturing sector is emphasized as a crucial pillar of the national economy, with a call for maintaining a reasonable proportion of manufacturing in the context of modernization [4][5] - The importance of technological empowerment in modern manufacturing is highlighted, with a focus on self-innovation and overcoming reliance on foreign technology [7][10] Group 2: Challenges and Opportunities - The risk of industrial hollowing-out poses a significant threat to the manufacturing sector, potentially impacting productivity and economic structure [6] - China's manufacturing value added as a percentage of GDP has decreased from 32.1% in 2011 to an estimated 24.9% in 2024, indicating a need for innovation to upgrade the value chain [8] - The country has made significant strides in key technology breakthroughs, transitioning from "following" to "leading" in various fields such as aerospace and high-speed rail [9][10] Group 3: Strategic Directions - The Chinese government is committed to promoting high-end, intelligent, and green development in the manufacturing sector as part of building a modern industrial system [15][16] - The integration of high-end, intelligent, and green strategies is essential for enhancing competitiveness and achieving sustainable development [18] - The focus on digital transformation is reshaping the industrial ecosystem, leading to new organizational forms and competitive rules [13][14] Group 4: Future Prospects - By 2025, the goal is to achieve comprehensive development in future industries, with some sectors reaching international advanced levels [14] - The manufacturing industry is expected to transition from being a "global factory" to an "innovation source," with significant advancements in core technologies and sustainable practices [14][18] - The collaboration of high-end, intelligent, and green initiatives is anticipated to create new opportunities and solidify China's position in the global manufacturing landscape [18]

Core Viewpoint - The transformation of Shenyang, an old industrial city in Northeast China, from a "steel belt" to an "intelligent belt" exemplifies the revitalization of traditional industries through digitalization and artificial intelligence (AI) [1] Group 1: Transition Strategies - Transition from single-point breakthroughs to system reconstruction by building an "intelligent community" to activate new momentum in industrial clusters, particularly in advanced manufacturing sectors like aerospace, automotive, and shipbuilding [2] - Establish industry-level AI innovation alliances to promote collaboration between leading and supporting enterprises, and create a digital twin platform [2] - Set up a digital transformation fund to support "chain master" enterprises in building shared resources and accelerate the development of industry-specific large models [2] Group 2: Ecosystem Development - Shift from technology application to ecosystem cultivation by innovating scenarios and developing new ecosystems for transformation and upgrading [3] - Recommend the establishment of regional AI application scenario innovation centers, showcasing smart mines and digital factories as demonstration sites [3] - Create a "scenario list + technology tackling" mechanism to facilitate deep connections between AI and traditional enterprises, and improve revenue-sharing mechanisms for sustainable business models [3] Group 3: Innovation and Talent Development - Move from passive transformation to proactive innovation by cultivating "digital new craftsmen" to accumulate new momentum for sustainable development [4] - Implement a model combining experienced craftsmen with AI to rejuvenate traditional craftsmanship, as seen in Shenyang Blower Group [4] - Propose the systematic collection of veteran craftsmen's technical experiences to establish a "digital craftsman" training system, fostering talents who understand both traditional craftsmanship and AI technology [4]

Core Insights - The Ministry of Industry and Information Technology has announced the preliminary list of key pilot platforms for nurturing, with six platforms from the Optics Valley included, covering pharmaceuticals, industrial mother machines, integrated circuits, and common needs, accounting for over 60% of the total selected in the province [1][3]. Group 1: Pilot Platforms Overview - The first batch of key pilot platforms includes 242 platforms nationwide, spanning six critical manufacturing sectors essential for high-quality development [3]. - The Jiufeng Mountain Laboratory compound semiconductor pilot platform is equipped with over 500 advanced process and testing devices, focusing on optical, next-generation communication, and power electronics applications, attracting over 500 enterprises and research institutions for collaboration [3][5]. Group 2: Investment and Services - The National Digital Design and Manufacturing Innovation Center's pilot platform has a total investment of approximately 500 million yuan, with 298 sets of pilot equipment, serving nearly 200 clients with contracts exceeding 500 million yuan [5]. - The Dingkang Biological recombinant protein drug pilot platform has provided production services for over 50 products from more than 40 clients, with samples undergoing clinical trials in over 30 countries and regions [5]. Group 3: Importance of Pilot Platforms - The success of pilot testing is crucial for the industrialization of technological achievements, with a success rate of 80% for those that undergo pilot testing compared to only 30% for those that do not [5]. - The number of pilot platforms reflects the local industry's ability to transform technology, indicating the overall development level of the local industry [5][8]. Group 4: Future Development - The Optics Valley has established 61 city-level registered technology achievement transformation pilot platforms, accounting for nearly 30% of the total, primarily in core industries such as new-generation information technology, life health, and high-end equipment [8]. - The East Lake High-tech Zone plans to enhance the pilot platform system, strengthen platform capabilities, and accelerate the integration of technological and industrial innovation for high-quality development [8].