从 传统 分销到数字化平台， 数字化 重塑行业供应链模式 云汉芯城成立于2008年5月，由曾烨先生创立。 B2B电子采购第一站。 作者 | 观韬 编辑 | 小白 随着人工智能、物联网、汽车电子等产业高速发展，电子元器件需求迎来爆发式增长。然而长期以 来，电子元器件行业始终被"上游批量生产、下游小批量高频采购"的结构性矛盾所困扰——传统供应 链难以高效响应多元化、小批次的订单需求。 尤其是在面对海量中小批量订单时，如何以更智能、更高效率、更具成本效益的方式服务产业链，已 成为制约行业发展的一大痛点。 在这一背景下，一家以数字化重塑供应链的企业——云汉芯城（301563.SZ）正快步走向A股市场。 历经十余年发展，云汉芯城以数据驱动为核心，重塑电子元器件供应链流通模式，成为行业数字化转 型的标杆案例，在2025年上半年实现净利润大幅增长40%，并即将登陆A股。 早在2002年，曾烨便在深圳创立"云汉电子"，从事电子元器件的代理与分销，积累了深厚的行业资源 与线下运营经验。也正是这段经历，让曾烨深入洞察到电子制造业的实际生态。 正如开头所言，电子元器件行业长期存在着明显的供需结构性矛盾，这一矛盾催生了一个规模巨大的 ...

Core Viewpoint - Zhongdian Port's stock price has increased by 5.1% on September 22, reaching 22.87 CNY per share, with a total market capitalization of 17.379 billion CNY, indicating a positive market sentiment towards the company [1] Group 1: Company Overview - Zhongdian Port Technology Co., Ltd. was established on September 28, 2014, and went public on April 10, 2023 [1] - The company is located in Shenzhen, Guangdong Province, and its main business includes electronic component distribution, design chain services, supply chain collaboration services, and industrial data services [1] - The revenue composition of the company is as follows: processors 40.78%, memory 30.53%, others 16.09%, analog devices 8.74%, and RF and wireless connections 3.85% [1] Group 2: Shareholder Information - 华夏中证1000ETF (159845) is among the top ten circulating shareholders of Zhongdian Port, having increased its holdings by 710,300 shares in Q2, now holding a total of 1,656,800 shares, which represents 0.38% of the circulating shares [2] - The ETF has generated a floating profit of approximately 1.839 million CNY today and 1.458 million CNY during the four-day increase [2] - The ETF was established on March 18, 2021, with a current scale of 38.227 billion CNY and has achieved a year-to-date return of 26.11% [2] Group 3: Fund Manager Information - The fund manager of 华夏中证1000ETF (159845) is Zhao Zongting, who has been in the position for 8 years and 161 days [3] - The total asset scale of the fund is 389.148 billion CNY, with the best return during Zhao's tenure being 117.09% and the worst being -32.63% [3]

Core Viewpoint - Yunhan Chip City (云汉芯城) successfully held its online roadshow for its initial public offering (IPO) on the ChiNext board, marking a significant milestone in the company's development [1][3]. Company Overview - Founded in 2008, Yunhan Chip City focuses on the research, production, and procurement of small-batch electronic components in the electronic manufacturing industry, utilizing digital and internet technologies through its self-operated B2B online marketplace [3][4]. - The company aims to provide a one-stop service for the electronic manufacturing industry, extending its offerings to product technical solution design, PCBA manufacturing services, and technical support from electronic engineers [3]. Business Strategy - The company adheres to a development philosophy of "online business, data-driven operations, and data utilization," emphasizing the accumulation and application of data resources as a key competitive advantage [3]. - The IPO is seen as an opportunity to leverage capital market resources to enhance technical capabilities and service levels while aligning with national policies and industry trends [3][4]. Financial Insights - The CFO, Zhou Xuefeng, reported the operating costs for the years 2022 to 2024 as follows: 3.806 billion yuan, 2.247 billion yuan, and 2.158 billion yuan, respectively, with the main business costs consistently accounting for over 99% of total operating costs [6]. - The primary cost driver is the procurement of electronic components, which is closely linked to market prices [6]. Industry Trends - The rapid advancement of the domestic substitution process in the electronic components industry is expected to drive growth in the sector, with Yunhan Chip City positioned as a key player in this ongoing trend [8]. - The company recognizes the long-term nature of this development and anticipates it will be a significant growth driver moving forward [8]. IPO Details - The new share issue price is set at 27 yuan per share, with the subscription code being 301563 [8].

公司认为，"大数据中心及元器件交易平台升级项目"和"电子产业协同制造服务平台建设项目"有助于公 司对原有线上商城升级，提升其服务能力和效率，以增强客户体验。"智能共享仓储建设项目"则能够为 公司主营业务提供基础设施支持，加大仓储容量和周转能力、提高仓储作业效率，以及时响应客户。 今日（9月19日），云汉芯城(301563)迎来网下与网上发行申购。 公司发行价格为27元/股，对应的公司2024年扣非前后孰低的归母净利润对应的摊薄后市盈率为20.91 倍，低于中证指数有限公司2025年9月15日（T-4 日）发布的"F51 批发业"最近一个月平均静态市盈率 25.98倍。 此前招股书显示，成立于2008年5月的云汉芯城是一家电子元器件分销与产业互联网融合发展的创新型 高新技术企业，重点聚焦电子制造产业中小批量电子元器件研发、生产、采购需求。 据发行公告，云汉芯城本次IPO公开发行股票1627.9万股，发行价格27元/股对应募集资金总额约为4.4亿 元，将投向大数据中心及元器件交易平台升级项目；电子产业协同制造服务平台建设项目以及智能共享 仓储建设项目。 财务方面，2022年—2024年，公司的营业收入分别为43. ...

Group 1: Company Overview - The company, Guangzhou Ruili Kemi Automotive Electronics Co., Ltd., specializes in the research, production, and sales of core components related to active safety systems for motor vehicles, as well as aluminum alloy precision die-casting [2] - The controlling shareholder is Ruili Group, which holds 64.16% of the company's shares prior to the current issuance [2] - The actual controllers of the company are Zhang Xiaoping, Chi Shuping, and Zhang Jiarui, who collectively control 71.56% of the shares [2] Group 2: IPO Details - The company plans to raise a total of 1.52 billion yuan (152,161.58 million yuan) through its initial public offering (IPO) for various projects, including the establishment of a smart electric control system R&D headquarters in the Greater Bay Area [2][3] - The IPO price is set at 42.28 yuan per share, with an expected total fundraising amount of approximately 1.90 billion yuan (190,448.34 million yuan) after deducting issuance costs [3] - The net proceeds from the IPO are estimated to be around 1.76 billion yuan (175,597.95 million yuan) after deducting issuance expenses of approximately 148.50 million yuan [3] Group 3: Market Context - The company's issuance price corresponds to a price-to-earnings (P/E) ratio of 29.64, which is lower than the reference industry P/E ratio of 54.54 for the computer, communication, and other electronic equipment manufacturing sector [1][2] - The company aims to enhance its market position by investing in R&D and technology services related to active safety systems, which are increasingly important in the automotive industry [2]

云汉芯城发行信息 云汉芯城今日开启申购，公司此次发行总数为1627.90万股，其中网上发行415.10万股，申购代码 301563，申购价格27.00元 ，发行市盈率为20.91倍，单一账户申购上限为4000.00股，申购数量为500股 的整数倍。 公司是一家电子元器件分销与产业互联网融合发展的创新型企业，重点聚焦电子制造产业中小批量电子 元器件研发、生产、采购需求。 | 财务指标/时间 | 2024年 | 2023年 | 2022年 | | --- | --- | --- | --- | | 总资产（亿元） | 10.81 | 9.48 | 10.66 | | 净资产（亿元） | 7.48 | 6.59 | 5.79 | | 营业收入（亿元） | 25.77 | 26.37 | 43.33 | | 净利润（亿元） | 0.88 | 0.79 | 1.36 | | 资本公积（亿元） | 3.2877 | 3.2877 | 3.2877 | | 未分配利润（亿元） | 3.4817 | 2.6625 | 1.9226 | | 基本每股收益（元） | 1.81 | 1.61 | 2.78 | | 每股经营现金流（ ...

【今日新股】 今日2只新股申购，无新股上市。 【隔夜行情】 •周四（2025年9月18日），A股市场三大指数集体收跌，截至收盘，沪指报3831.66点，跌1.15%；深证 成指报13075.66点，跌1.06%；创业板指报3095.85点，跌1.64%。总体来看，个股跌多涨少，下跌个股 超4300只。沪深两市全天成交额3.14万亿元，较上个交易日放量7500亿元。 •周四（2025年9月18日），港股三大指数震荡走软，午后跌幅显著扩大，恒指一度挫逾500点。截止收 盘，恒生指数跌1.35%或363.54点，报26544.85点，全日成交额为4133.14亿港元；恒生国企指数跌 1.46%，报9456.52点；恒生科技指数跌0.99%，报6271.22点。 •周四（当地时间2025年9月18日），美股三大股指齐创历史新高，英伟达入股推动英特尔暴涨22.8%， 截至收盘，道指涨124.10点，涨幅为0.27%，报46142.42点；纳指涨209.40点，涨幅为0.94%，报 22470.73点；标普500指数涨31.61点，涨幅为0.48%，报6631.96点。 瑞立科密，证券代码001285，发行价格42.28 ...

Group 1 - The company specializes in the research, production, and sales of core components related to active safety systems for motor vehicles, including ABS, ESC, and EBS systems [6] - The company has established itself as a leading enterprise in the domestic commercial vehicle active safety system market, providing comprehensive solutions to vehicle manufacturers [6] - The company has achieved significant recognition from major vehicle manufacturers and government departments, enhancing its brand reputation and customer base [11] Group 2 - Financial data shows that the company's revenue is projected to be 17 billion in 2022, with net profit expected to rise from 1.05 billion in 2022 to 2.75 billion in 2024 [7][8] - The company has a strong cash flow generation capability, with net cash flow from operating activities expected to increase from -0.28 billion in 2022 to 3.64 billion in 2024 [8] - The company faces challenges such as high initial R&D costs and competition from international automotive electronics giants [12] Group 3 - The industry is experiencing a significant shift towards intelligent and connected vehicles, which aligns with the company's focus on line control braking systems [11] - The domestic market for active safety systems is expected to grow due to increasing demand for domestic suppliers and the government's support for core component enterprises [11] - The company is well-positioned to benefit from the rising penetration of new energy vehicles and intelligent driving technologies [11]

（原标题：商用车主动安全系统龙头等2只新股申购，世昌股份登陆北交所丨打新早知道） 对此，瑞立科密解释称，公司采购的原材料种类繁多，以芯片、铝锭为主的电子元器件和金属原材料的两类物料采购占比超过35%，属于公司采 购的主要原材料。若未来出现公司机动车主动安全系统和铝合金精密压铸件等主营产品销量下滑、原材料价格上涨、国际贸易局势不利变化等因 素，将会对公司收入、盈利水平产生不利影响，导致公司出现经营业绩波动的风险。 云汉芯城是一家电子元器件分销与产业互联网融合发展的创新型高新技术企业，重点聚焦电子制造产业中小批量电子元器件研发、生产、采购需 求，是我国电子元器件领域B2B领军企业。 9月19日，有两只新股申购，分别是深市主板上市的瑞立科密（001285.SZ），以及创业板上市的云汉芯城（301563.SZ）；有一只新股上市，北交 所的世昌股份（920022.BJ）。 两只新股申购 瑞立科密是专业从事机动车主动安全系统相关核心部件研发、生产和销售的国家高新技术企业。公司作为国内少数具备汽车制动防抱死系统 （ABS）、电子稳定控制系统（ESC）、电子制动控制系统（EBS）、电子驻车制动系统（EPB）、电控空气悬架系统 ...

9月19日，云汉芯城（301563）(301563.SZ)开启申购，发行价格为27元/股，申购上限为0.40万股，市盈 率20.91倍，属于深交所，国金证券为其保荐人。 据招股书，公司是一家电子元器件分销与产业互联网融合发展的创新型高新技术企业，重点聚焦电子制 造产业中小批量电子元器件研发、生产、采购需求。公司通过有效运用数字技术和互联网技术，基于自 建自营的云汉芯城B2B线上商城，主要为电子制造产业提供高效、专业的电子元器件供应链一站式服 务，并延伸至产品技术方案设计、PCBA生产制造服务、电子工程师技术支持等在内的多个领域，子公 司深圳汉云拥有CNAS认证的电子元器件检测实验室。 通过API/EDI、FTP等多种数据传输方式，公司将全球超2,500家优质供应商的海量电子元器件库存数据 信息接入云汉芯城线上商城，日可售SKU达到2,799.24万，能较好地满足客户一站式采购需求，并通过 下游中小批量订单需求的汇集，向供应商进行专业化和集约化采购，有效降低整体采购成本;另一方 面，云汉芯城线上商城已成为电子元器件流通领域重要销售渠道，随着客户数量、经营规模的不断增 长，公司能够获得供应商在产品类别、价格、服务 ...