（联合动力上市敲钟仪式） 与2024年相比，2025年，江苏公司A股IPO数量和募资总额均有所增长，2024年，江苏一个有16家公司 在A股上市，募资总额约95亿元。 2025年已经收官，我们循例盘点过去一年，江苏省IPO情况。 A股市场，2025年，一共有29家江苏公司完成IPO，其中北交所8家、沪市主板8家、创业板8家、科创板 4家、深市主板1家。 2025年，全国一共有117家公司在A股上市，江苏占比约24.78%，数量位居全国第一。 过去一年，江苏29家新股合计募资资金209亿元，其中联合动力、强一股份、德力佳、锡华科技募资总 额超过10亿元，分别达到36.01亿元、27.56亿元、18.67亿元、10.10亿元。 | 市值排名 | 旺粥代码 | 旺勢名称 | 发上市日 | 发都集团金(亿元) | 与服务 | 高值(亿) | 行业 | 实际控制人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 301656.SZ | 联合动力 | 2025-09-25 | 36.01 | 苏州市 | 652.18 | 汽车零部件 | 未兴 ...

Core Viewpoint - The company, Meilixin Technology Co., Ltd., is strategically positioning itself in the liquid cooling sector to meet the growing demand for efficient heat dissipation driven by the explosive growth in global data centers, high-performance computing, and artificial intelligence [2] Company Overview - Meilixin was established on May 14, 2001, and went public on April 24, 2023. The company specializes in the research, production, and sales of aluminum alloy precision die-casting parts in the communication and automotive sectors [7] - The revenue composition of the company is as follows: automotive components 64.79%, communication structural parts 29.88%, and other components 5.33% [7] Business Strategy - The company has established a strategic focus on liquid cooling technology, which is applicable in three main areas: new energy vehicles, communication heat dissipation, and data centers. This initiative aims to provide customized solutions to meet market demands for efficient cooling [2] - Meilixin is a core supplier of aluminum alloy precision die-casting parts for major communication equipment manufacturers, including Huawei and Ericsson, making it one of the most competitive companies in this field [3] Financial Performance - As of September 30, 2025, Meilixin reported a revenue of 2.82 billion yuan, representing a year-on-year growth of 8.93%. However, the net profit attributable to shareholders was -215 million yuan, a significant decrease of 347.98% compared to the previous year [8] - The company has distributed a total of 25.27 million yuan in dividends since its A-share listing [9] Shareholder Information - As of September 30, 2025, the number of shareholders for Meilixin was 17,800, a decrease of 9.35% from the previous period. The average number of circulating shares per person increased by 10.32% to 6,108 shares [8]

Group 1 - The company, Asia Pacific Holdings (002284.SZ), has indicated that its line control braking systems (DBS, EMB), omnidirectional wheel angle modules, and fully controlled omnidirectional wheel high-speed sliding chassis can be applied in advanced intelligent driving [1] - Currently, these technologies have not been utilized in commercial aerospace or robotics sectors [1]

Core Viewpoint - Ningbo Peiyuan Co., Ltd. has received acceptance for its IPO application on the Beijing Stock Exchange, with sponsorship from Zhongtai Securities [2] Financial Performance - Revenue for Peiyuan Co. is projected to be 5.51 billion yuan in 2022, 6.1 billion yuan in 2023, 6.52 billion yuan in 2024, and 3.32 billion yuan for the first half of 2025 [2] - Net profit attributable to the parent company is expected to be 69.22 million yuan in 2022, 75.82 million yuan in 2023, 59.63 million yuan in 2024, and 34.70 million yuan for the first half of 2025 [2] Shareholder Structure - The major shareholders include Yu Peijun (26.07%), Zhang Peiqin (24.74%), Yu Keyu (39.55%), and Tian Yu (0.37%), collectively holding 90.73% of the shares [3][4] - Yu Peijun, Zhang Peiqin, Yu Keyu, and Tian Yu have signed a joint action agreement, ensuring they act in concert regarding shareholder decisions [4][5] Company Overview - Peiyuan Co. specializes in the research, production, and sales of automotive parts, particularly shock absorber components and hydraulic systems [2] - The company has a total asset value of approximately 1.06 billion yuan as of June 30, 2025, with total equity of about 509.51 million yuan [3] Management Background - Yu Peijun has been the chairman and general manager since the company's inception, with significant influence over operational decisions [4][5] - Zhang Peiqin and Yu Keyu also hold key management positions, contributing to the company's strategic direction [8][9]

分红方面，宁波华翔A股上市后累计派现43.80亿元。近三年，累计派现10.99亿元。 资金流向方面，主力资金净流出8956.66万元，特大单买入3858.87万元，占比7.20%，卖出7668.73万 元，占比14.30%；大单买入9560.90万元，占比17.83%，卖出1.47亿元，占比27.43%。 资料显示，宁波华翔电子股份有限公司位于上海市浦东新区世纪大道1168号东方金融广场A座6层，成 立日期1988年9月26日，上市日期2005年6月3日，公司主营业务涉及从事汽车零部件的开发、生产和销 售。主营业务收入构成为：内饰件53.89%，外饰件18.06%，金属件17.68%，电子件8.28%，其他 2.09%。 宁波华翔所属申万行业为：汽车-汽车零部件-车身附件及饰件。所属概念板块包括：人形机器人、灵巧 手、PEEK概念、汽车零部件、机器人概念等。 截至9月30日，宁波华翔股东户数5.82万，较上期增加20.74%；人均流通股12196股，较上期减少 17.17%。2025年1月-9月，宁波华翔实现营业收入192.24亿元，同比增长5.99%；归母净利润8872.61万 元，同比减少87.62%。 ...

东安动力所属申万行业为：汽车-汽车零部件-底盘与发动机系统。所属概念板块包括：汽车零部件、低 空经济、长安汽车概念、节能环保、小盘等。 截至12月10日，东安动力股东户数6.21万，较上期减少0.60%；人均流通股7510股，较上期增加0.60%。 2025年1月-9月，东安动力实现营业收入37.66亿元，同比增长25.88%；归母净利润-328.45万元，同比减 少105.55%。 分红方面，东安动力A股上市后累计派现6.41亿元。近三年，累计派现2913.78万元。 机构持仓方面，截止2025年9月30日，东安动力十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股116.93万股，相比上期增加31.83万股。 1月8日，东安动力盘中上涨2.04%，截至13:39，报13.03元/股，成交9553.01万元，换手率1.60%，总市 值60.78亿元。 资金流向方面，主力资金净流入420.32万元，特大单买入181.50万元，占比1.90%，卖出255.76万元，占 比2.68%；大单买入1625.88万元，占比17.02%，卖出1131.30万元，占比11.84%。 东安动力今年以来股价涨1.8 ...

Group 1 - The core point of the news is that Shentong Technology's stock price increased by 5.04% to 17.09 CNY per share, with a trading volume of 340 million CNY and a turnover rate of 4.87%, resulting in a total market capitalization of 7.388 billion CNY [1] - Shentong Technology Group Co., Ltd. is located in Yuyao City, Zhejiang Province, and was established on March 4, 2005. The company was listed on January 20, 2021, and its main business involves the research, production, and sales of non-metal automotive components and molds [1] - The revenue composition of Shentong Technology is as follows: 94.91% from automotive parts sales, 4.51% from mold sales, and 0.58% from other supplementary sources [1] Group 2 - From the perspective of major fund holdings, one fund under Bosera Fund has a significant position in Shentong Technology. The Bosera Value Selection Holding Period Mixed A Fund (009857) reduced its holdings by 381,500 shares in the third quarter, retaining 1.9131 million shares, which accounts for 6.56% of the fund's net value, making it the fifth-largest holding [2] - The Bosera Value Selection Holding Period Mixed A Fund was established on July 29, 2020, with a current scale of 470 million CNY. Year-to-date returns are 4.84%, ranking 1970 out of 8825 in its category; the one-year return is 71.39%, ranking 709 out of 8084; and since inception, the return is 7.7% [2] - The fund manager of Bosera Value Selection Holding Period Mixed A Fund is Guo Kangbin, who has been in the position for 3 years and 321 days. The total asset scale of the fund is 4.388 billion CNY, with the best return during his tenure being 37.45% and the worst being -42.45% [2]

Group 1 - The core viewpoint of the news is that Jin Hong Shun's stock has experienced a decline in price and trading activity, with a notable drop in revenue despite an increase in net profit [1][2] Group 2 - As of January 8, Jin Hong Shun's stock price was 18.85 CNY per share, with a market capitalization of 3.378 billion CNY [1] - The company has seen a year-to-date stock price decline of 9.20%, with a 6.13% drop over the last five trading days [1] - Jin Hong Shun's main business involves the development, production, and sales of automotive body and chassis stamping parts, contributing 90.35% to its revenue [1] Group 3 - For the period from January to September 2025, Jin Hong Shun reported operating revenue of 471 million CNY, a year-on-year decrease of 26.34%, while net profit attributable to shareholders increased by 200.89% to 15.7079 million CNY [2] - The company has distributed a total of 60.8 million CNY in dividends since its A-share listing, with 2.56 million CNY distributed in the last three years [3]

Group 1 - A new company, Shanghai Luoke Automotive Parts Co., Ltd., has been established with a registered capital of 10 million yuan [1] - The company's business scope includes retail of automotive parts and battery manufacturing [1] - The company is wholly owned by Shanghai Luoke Intelligent Technology Co., Ltd., which is an affiliate of Jishi Automotive [1]

2026 年 1 月 8 日 晨会速递 分析师点评 市场数据 总量研究 【宏观】债市开年如何破局？——《央行观察》系列第十三篇 此前债市担忧的三大利空已部分消化，实际影响低于市场预期。但考虑到政策脉冲向 上，经济和股市迎来"开门红"，可能对债市情绪构成持续打压。有利因素也不可忽 视，政府债供给期限对利率走势无强解释力，且除 500 亿元国债买入信号外，央行有 意愿也有能力呵护流动性。债市整体前景并不悲观，策略上当前应重视配置，交易性 机会需耐心等待。风险提示：流动性对冲不及预期导致资金面意外波动，重大项目开 工不及预期影响经济开门红，海外突发黑天鹅事件。 12 月综合季节性特征、票据利率走势等因素，预计新增贷款在 0.8~1 万亿左右，贷 款增速落在 6.3%附近。社融层面，政府债发行进入尾声，对社融增长贡献度下降， 年末信贷季节性放量、贷款核销加大等对社融读数支撑作用显现，社融增速或落于 8.3%一线。货币方面，年末财政开支强度加大对一般存款形成回补，M2 增速或稳中 有增；春节错位叠加较高基数影响，M1 增速预计相对一般。 | | A 股市场 | | | --- | --- | --- | | | 收盘 ...