IPO Pipeline Overview - As of September 21, there are 279 companies in the IPO pipeline, with 21 on the Shanghai Main Board, 36 on the Sci-Tech Innovation Board, 25 on the Shenzhen Main Board, 27 on the Growth Enterprise Market, and 170 on the Beijing Stock Exchange [1][2]. Newly Listed Companies - Hebei Shichang Automotive Parts Co., Ltd. was listed between September 15 and September 21, closing at 40.50 yuan per share, representing a 271.56% increase, with a trading volume of 641 million yuan and a turnover rate of 87.48% [3]. New Counseling Records - Eight new companies were added to the counseling records from September 15 to September 21, including Beijing Weina Star Technology Co., Ltd. and others, focusing on various sectors such as satellite technology, quantum computing, and environmental equipment [4][5]. Companies Undergoing Review - Yuan Chuang Technology Co., Ltd. and Suzhou New Guangyi Electronics Co., Ltd. successfully passed the review process, while Xiamen Youxun Chip Co., Ltd. had its review results postponed [8][9]. Registration Approval - Three companies received registration approval from September 15 to September 21, including Zhongcheng Zhixin Engineering Consulting Group Co., Ltd., which provides comprehensive consulting services, and Nabaichuan New Energy Co., Ltd., focusing on thermal management for electric vehicle batteries [10]. Terminated Reviews - Four companies, including Hengyang Jinzelite Special Alloy Co., Ltd. and others, withdrew their IPO applications during the same period [11][12][13].

亚新科集团的热管理冷板业务前期主要由其控股子公司仪征亚新科双环活塞环有限公司(简称"亚新科双 环")运营，与其主营业务燃油发动机活塞环在业务模式、客户群体、竞争策略、产线理念等方面均有较 大差异。随着亚新科集团热管理业务规模的拓展以及在手订单对新产能建设投资的需求，急需进一步注 入资金、专业化运营、智能化生产，并加大研发投入力度，抓住人工智能发展的历史机遇，开辟新的业 务领域。本次通过设立新公司主体，专门承担热管理业务的运营职能，后续将亚新科双环的热管理业务 相关资产、负债、合同关系等按照市场化方式整合到新公司，有利于更好地适应亚新科热管理业务的长 远发展需求，提升整体资源配置效率和管理的专业性，抓住市场竞争格局变化的关键节点，进一步拓展 市场空间;同时，通过本次投资新建智能化水平更高的产能，有利于亚新科抓住冷板业务增长、客户份 额提升的市场机遇，推动冷板业务收入规模快速增长。 智通财经APP讯，中创智领(00564)公布，公司控股子公司亚新科工业技术(南京)有限公司(以下简称"亚 新科南京"，与其子公司合称"亚新科集团")为提升汽车热管理系统冷板业务的市场竞争力，巩固市场地 位，为未来拓展热管理的更多应用领 ...

Investment Rating - The report suggests a positive outlook for the industry, indicating that the long-term trend remains intact despite short-term fluctuations in the market [34]. Core Insights - The North Exchange market showed resilience in the specialized and innovative sectors, with significant stock performance variations, particularly in the automotive and new materials sectors [3][29]. - The report highlights the active mergers and acquisitions in high-end manufacturing and new materials, with specialized enterprises enhancing their competitiveness through industry chain integration [27][29]. - The macroeconomic environment is characterized by increased domestic consumer credit policies and a dovish stance from the Federal Reserve, which together create a supportive backdrop for the industry [27][28]. Summary by Sections Market Overview - The average daily trading volume for all A-shares on the North Exchange reached 27.23 billion yuan, a decrease of 14.7% week-on-week. The North Exchange 50 index fell by 1.43%, with an average turnover rate of 3.3% [7][16]. - The top five gainers for the week included Shichang Co. (271.6%), Kaiter Co. (33.8%), and Sanwei Co. (22.5%), while the top five losers included Yunchuang Data (-18.0%) and Guoyi Tendering (-13.3%) [16][19]. Key News and Policies - Nvidia has requested suppliers to develop MLCP technology, which is expected to be 3-5 times more expensive than current solutions, due to the high power consumption of its new AI platform [18]. - The Ministry of Commerce and nine other departments issued policies aimed at expanding service consumption, proposing 19 measures to stimulate economic growth [20]. - Tencent Cloud announced full compatibility with mainstream domestic chips, with its international customer base doubling within a year [21]. Core Driving Factors - The report identifies strong performance in the robotics, automotive parts, and specialty materials sectors, with significant stock price increases in companies like Shichang Co. [27][29]. - The ongoing trend of mergers and acquisitions is noted, with companies in the North Exchange continuing to pursue strategic acquisitions to enhance core technologies [29]. Investment Recommendations and Strategies - The report emphasizes that short-term index adjustments do not alter the long-term growth trajectory, supported by the solid fundamentals of specialized enterprises and favorable policies [32]. - Continuous policy benefits are expected to support sectors such as automotive parts, digital economy, and new energy materials [32]. - The active mergers and acquisitions driven by industry upgrades are seen as a means to strengthen core technologies and improve bargaining power within the supply chain [32].

格隆汇9月22日丨中创智领(601717.SH)公布，公司控股子公司亚新科工业技术（南京）有限公司（简 称"亚新科南京"，与其子公司合称"亚新科集团"）为提升汽车热管理系统冷板业务的市场竞争力，巩固 市场地位，为未来拓展热管理的更多应用领域打下组织及能力基础，拟出资人民币27,000万元，设立全 资子公司亚新科热管理技术（仪征）有限公司（暂定名，以市场监督管理部门核准登记为准）。 亚新科集团的热管理冷板业务前期主要由其控股子公司仪征亚新科双环活塞环有限公司（简称"亚新科 双环"）运营，与其主营业务燃油发动机活塞环在业务模式、客户群体、竞争策略、产线理念等方面均 有较大差异。随着亚新科集团热管理业务规模的拓展以及在手订单对新产能建设投资的需求，急需进一 步注入资金、专业化运营、智能化生产，并加大研发投入力度，抓住人工智能发展的历史机遇，开辟新 的业务领域。本次通过设立新公司主体，专门承担热管理业务的运营职能，后续将亚新科双环的热管理 业务相关资产、负债、合同关系等按照市场化方式整合到新公司，有利于更好地适应亚新科热管理业务 的长远发展需求，提升整体资源配置效率和管理的专业性，抓住市场竞争格局变化的关键节点，进一 ...

智通财经APP讯，中创智领(601717.SH)发布公告，公司控股子公司亚新科工业技术(南京)有限公司(以 下简称"亚新科南京"，与其子公司合称"亚新科集团")为提升汽车热管理系统冷板业务的市场竞争力， 巩固市场地位，为未来拓展热管理的更多应用领域打下组织及能力基础，拟出资2.7亿元，设立全资子 公司亚新科热管理技术(仪征)有限公司(暂定名，以市场监督管理部门核准登记为准)。 本次通过设立新公司主体，专门承担热管理业务的运营职能，后续将亚新科双环的热管理业务相关资 产、负债、合同关系等按照市场化方式整合到新公司，有利于更好地适应亚新科热管理业务的长远发展 需求，提升整体资源配置效率和管理的专业性，抓住市场竞争格局变化的关键节点，进一步拓展市场空 间;同时，通过本次投资新建智能化水平更高的产能，有利于亚新科抓住冷板业务增长、客户份额提升 的市场机遇，推动冷板业务收入规模快速增长。 ...

Core Viewpoint - Zhongchuang Zhiling (601717.SH) announced the establishment of a wholly-owned subsidiary, Yaxinke Thermal Management Technology (Yizheng) Co., Ltd., with an investment of 270 million yuan to enhance its market competitiveness in automotive thermal management systems and to lay the groundwork for future expansion in related application areas [1]. Group 1 - The new subsidiary aims to consolidate the thermal management business operations and will integrate relevant assets, liabilities, and contractual relationships from Yaxinke Shuanghuan into the new entity through market-oriented methods [1]. - This strategic move is expected to improve resource allocation efficiency and management professionalism, allowing the company to adapt to long-term development needs in the thermal management sector [1]. - The investment will facilitate the establishment of a higher level of intelligent production capacity, enabling the company to seize market opportunities for growth in the cold plate business and increase customer share [1].

亚新科集团的热管理冷板业务前期主要由其控股子公司仪征亚新科双环活塞环有限公司（简称"亚新科 双环"）运营，与其主营业务燃油发动机活塞环在业务模式、客户群体、竞争策略、产线理念等方面均 有较大差异。随着亚新科集团热管理业务规模的拓展以及在手订单对新产能建设投资的需求，急需进一 步注入资金、专业化运营、智能化生产，并加大研发投入力度，抓住人工智能发展的历史机遇，开辟新 的业务领域。本次通过设立新公司主体，专门承担热管理业务的运营职能，后续将亚新科双环的热管理 业务相关资产、负债、合同关系等按照市场化方式整合到新公司，有利于更好地适应亚新科热管理业务 的长远发展需求，提升整体资源配置效率和管理的专业性，抓住市场竞争格局变化的关键节点，进一步 拓展市场空间；同时，通过本次投资新建智能化水平更高的产能，有利于亚新科抓住冷板业务增长、客 户份额提升的市场机遇，推动冷板业务收入规模快速增长。 格隆汇9月22日丨中创智领(601717.SH)公布，公司控股子公司亚新科工业技术（南京）有限公司（简 称"亚新科南京"，与其子公司合称"亚新科集团"）为提升汽车热管理系统冷板业务的市场竞争力，巩固 市场地位，为未来拓展热管理的更多应 ...

Summary of Key Points - The company Changshu Automotive Trim (603035.SH) has completed a share buyback on September 19, 2025, repurchasing a total of 13.6839 million shares, which represents 3.6007% of the company's total share capital [1] - The highest price paid for the repurchased shares was 16.26 CNY per share, while the lowest price was 12.91 CNY per share, resulting in an average buyback price of 14.62 CNY per share [1] - The total amount of funds used for the buyback was approximately 200.018584 million CNY [1]

中创智领公告，公司控股子公司亚新科工业技术（南京）有限公司拟出资人民币2.7亿元，设立全资子 公司亚新科热管理技术（仪征）有限公司。本次投资旨在提升汽车热管理系统冷板业务的市场竞争力， 巩固市场地位，并为未来拓展热管理的更多应用领域打下组织及能力基础。资金来源为亚新科南京的自 有资金及中创智领公司内部借款，分批实缴。 ...

南财智讯9月22日电，中创智领公告，公司控股子公司亚新科工业技术（南京）有限公司计划出资2.70 亿元，设立全资子公司亚新科热管理技术（仪征）有限公司。该投资旨在提升公司在汽车热管理系统冷 板业务的市场竞争力，巩固市场地位，并为未来拓展热管理的更多应用领域打下基础。新公司将专注于 新能源汽车、电力、通讯、信息系统集成行业的热管理系统技术开发及相关零部件的研发、设计、生产 和销售。此次投资无需提交公司股东会、董事会审议，但需完成市场监督管理部门的注册登记手续。投 资存在宏观经济及行业政策变化、经营管理、技术研发、市场开发、环境影响等风险。 ...