我们不是资讯的搬运工 而是有态度的发现者 万和财富早班车 2025年6月17日 | ● 国内金融市场 ● | | | 股指期货 · | | | | --- | --- | --- | --- | --- | --- | | 品种 | 收盘 | 涨跌幅 | 品种 | 收盘 | 涨跌幅 | | 上证指数 | 3388.73 | 0.35% | 上证当月连续 | 2678.40 | 0.48% | | 深证成指 | 10163.55 | 0.41% | 沪深当月连续 | 3869.80 | 0.38% | | 创业板指 | 2057.32 | 0.66% | 恒生期货指数 | 30951.22 | 0.63% | 宏观消息汇总 1. 国家统计局:5月规模以上工业增加值同比增长5.8% 国民经济 运行总体平稳、稳中有进 2. 央行今日将开展4000亿元买断式逆回购操作 期限为6个月 3. 国家统计局:5月份各线城市商品住宅销售价格同比降幅继续 收窄 二、行业最新动态 1. 全球最负盛名的航展今日开幕 军工板块有望迎来重磅催化, 相关个股:天和防务(300397)、航天彩虹(002389)等 2. 我国开展首例侵入式脑 ...

Core Viewpoint - Sanhua Intelligent Control is approaching its Hong Kong IPO, with a global offering of 360.33 million H-shares and expected net proceeds of approximately HKD 7.741 billion for global R&D and capacity expansion [1][2]. Group 1: IPO Details - The IPO subscription period is from June 13 to June 18, with 25.22 million shares available for public offering in Hong Kong, accounting for 7% of the total offering [2]. - The price range for the H-shares is set between HKD 21.21 and HKD 22.53, with the final price expected to be announced by June 19 [2]. - The company has attracted 17 cornerstone investors, including Schroders and Singapore's sovereign fund, with total subscriptions amounting to approximately USD 562 million (around HKD 4.409 billion) [3]. Group 2: Business Overview - Sanhua Intelligent Control operates primarily in two sectors: refrigeration and air conditioning components, and automotive thermal management system components [1][4]. - The company has a significant market share, holding approximately 45.5% of the global refrigeration control components market and ranking fifth in the automotive thermal management system components market with a 4.1% share [4]. Group 3: Financial Performance - The company has seen continuous growth in net profit over the past decade, increasing from CNY 605 million in 2015 to an estimated CNY 3.099 billion in 2024 [4]. - In Q1 of this year, Sanhua Intelligent Control reported revenue of CNY 7.669 billion, a year-on-year increase of 19.1%, and a net profit of CNY 903 million, up 39.47% [5]. Group 4: Future Growth Strategies - The company is exploring a third growth area in the bionic robotics sector, with plans to develop bionic robot electromechanical actuators [5]. - Sanhua Intelligent Control aims to integrate customer product development and iteration processes to achieve mass production in the bionic robotics field [5].

瑞财经 吴文婷6月12日，宁波惠康工业科技股份有限公司（以下简称"惠康科技"）在深交所主板IPO获受理，保荐机构为财通证券股份有限公司，保 荐代表人为周斌烽、熊吴倩，会计师事务所为中汇会计师事务所（特殊普通合伙）。 惠康科技深耕制冷领域，是一家以制冷设备的研发、生产及销售为核心业务的国家级高新技术企业，主要产品包括制冰机、冰箱、冷柜、酒柜等， 主要应用于民用及商用领域。 据招股书，2022年-2024年，惠康科技实现营收分别为19.3亿元、24.93亿元、32.04亿元；归母净利润分别为1.97亿元、3.38亿元、4.51亿元。 | 项目 | 2024 年度/ | 2023 年度/ | 2022 年度/ | | --- | --- | --- | --- | | | 2024年12月 31日 | 2023年12月31日 | 2022年12月31日 | | 资产总额(万元) | 282,617.47 | 221,634.11 | 155,233.61 | | 归属于母公司所有者权 | 100,946.18 | 64.972.79 | 41,684.16 | | 益(月元) | | | | | 资产负债率 | 6 ...

Core Viewpoint - Zhejiang Sanhua Intelligent Control Co., Ltd. (Sanhua Intelligent) is set to launch an IPO on the Hong Kong Stock Exchange, with a target fundraising amount of approximately HKD 76.43 billion to HKD 81.18 billion, and the expected listing date is June 23, 2025 [1][3]. Company Overview - Sanhua Intelligent was established in September 1994 and is located in Shaoxing, Zhejiang Province. The company has a registered capital of approximately RMB 3.7 billion and is primarily owned by Sanhua Holdings Group and Zhejiang Sanhua Green Energy Industrial Group [3]. - The company is listed on the Shenzhen Stock Exchange under the code "002050" since June 2005, with a market capitalization of approximately RMB 943 billion as of June 13, 2025 [3]. IPO Details - The IPO price range is set between HKD 21.21 and HKD 22.53 per share, with a total of 360.33 million shares to be issued. The median price of HKD 21.87 suggests a total fundraising of approximately HKD 78.74 billion [1]. - Sanhua Intelligent has secured 18 cornerstone investors who have collectively subscribed to approximately USD 562 million (around HKD 44.09 billion) of the offering [3]. Financial Performance - The company's revenue for the years 2022, 2023, and 2024 was RMB 213.48 billion, RMB 245.58 billion, and RMB 279.47 billion, respectively. The gross profit for the same years was approximately RMB 54.62 billion, RMB 67.35 billion, and RMB 76.21 billion [5][6]. - Net profit figures for the same years were approximately RMB 26.08 billion, RMB 29.34 billion, and RMB 31.12 billion [5]. Product and Market Reach - Sanhua Intelligent specializes in manufacturing components for refrigeration and air conditioning control, as well as automotive thermal management systems. The company is also expanding into emerging fields such as bionic robot electromechanical actuators [4]. - The company's products are distributed across over 80 countries and regions globally, with 48 production facilities, including 13 overseas factories located in the Americas, Europe, and Asia [5]. Production Capacity - The total production capacity for refrigeration and air conditioning components was approximately 539 million, 534 million, and 576 million units for the years 2022, 2023, and 2024, respectively. The production output for these years was approximately 452 million, 495 million, and 537 million units [7]. - For automotive components, the total production capacity was approximately 203 million, 255 million, and 282 million units, with production outputs of approximately 170 million, 232 million, and 245 million units for the same years [7].

世界上最"硬核"的通用语言是什么？ 不是英语，不是代码 而是——国际标准！ （ISO 18501:2025） 和《离心式制冷压缩机性能评价》 （ISO 18483:2025） 填补了该领域国际标准的空白 不仅是中国制冷技术的胜利 更是中国创新体系 格力电器完成了一件超炫的事 联合合肥通用机械研究院、清华大学 把两项制冷压缩机标准写入"国际词典" 让ISO官网直接挂出 《容积式制冷压缩机性能评价》 在全球标准话语权争夺中的 标志性突破 闯"18关"过"上百招" 中国企业主导国际标准 格力团队主导的两项标准 从提案到发布 国际会议开了18场 沟通材料117份 实现两项压缩机性能评价标准高票通过 2025年6月12日 全球发布会在广东珠海举行 从"卖产品"到"定规则" 中国智慧闪耀世界舞台 从家用空调到大型冷水机组 格力产品早已遍布全球 但主导国际标准的底气从何而来？ 数字会说话—— 近1000名标准技术专家 44个国际标准组织会员 37个国际专家职位 累计牵头/参与制定国内外标准超900项 申请专利数量超过13万项 董明珠挂帅ISO/TC 86/SC 4主席 成为中国家电企业第一人 格力把"中国智慧"藏进标准细节 ...

【解剖大盘】 昨日提到要小心中东这边紧张局势在升温，没想到今天直接就引爆了。按照传统，每次外围出事，这边 都要出"费用"，A股跌得多一些，港股稍微好点，恒指微跌0.59%。 当地时间13日凌晨，以军共出动超过200架战机参与对伊朗的首都德黑兰首轮空袭，其间共投下330多枚 弹药，多处传出爆炸声。据报以色列正在向伊朗西北地区最大的经济枢纽大布里士(Tabriz)发动第二波 袭击。以色列总理内塔尼亚胡在一段录制的视频信息中表示，以色列针对的是伊朗研制核弹的科学家、 弹道导弹计划和纳坦兹铀浓缩设施，此次行动将持续数日。 伊朗媒体证实，包括伊朗革命卫队总司令侯赛因·萨拉米在内多名高级军官遇害。据初步统计，6名伊朗 核科学家在以色列今天(6月13日)对伊朗的袭击中身亡。很明显，这又是以色列的一次精准斩首行动， 这也意味着伊朗高层已经被渗透成筛子了，毫无私密可言，想清除谁就可以随便清除。 美国总统特朗普就以色列此次重大袭击事件未有任何公开评论。较早前美国务卿鲁比奥指，美国没有参 与以色列针对伊朗发起的军事打击，并警告伊朗不要以美方为目标进行报复。这件事实际上蓄谋已久， 以色列整这么大的活必然是得到了美国首肯的，因为特朗普 ...

Core Viewpoint - Sanhua Intelligent Control plans to raise HKD 8 billion through its IPO in Hong Kong, but the necessity of this fundraising is questionable due to fluctuating capacity utilization and slowing growth rates in recent years [1][2]. Group 1: IPO Details - Sanhua Intelligent Control is set to launch its IPO on the Hong Kong Stock Exchange, having secured cornerstone investment agreements with 16 well-known institutions, including Schroders and GIC [1]. - The company plans to issue 360 million H-shares, with 7% allocated for public offering in Hong Kong and 93% for international placement, along with a 15% over-allotment option [2]. - The indicative price range for the shares is HKD 21.21 to HKD 22.53, with a midpoint price of HKD 21.87 expected to yield approximately HKD 77.41 billion in net proceeds [2][3]. Group 2: Fund Utilization - Approximately 30% of the net proceeds (HKD 23.22 billion) will be allocated for ongoing global R&D and innovation to strengthen existing capabilities and achieve sustainable growth over the next three years [2][3]. - Another 30% (HKD 23.22 billion) is earmarked for expanding and constructing new factories in China, as well as enhancing production automation to improve capacity and efficiency [2][3]. - 25% of the net proceeds (HKD 19.35 billion) will be used to deepen global presence by expanding overseas capacity, while 5% (HKD 3.87 billion) will enhance digital infrastructure across various business processes [3]. Group 3: Capacity and Financial Performance - The company's capacity utilization has shown volatility, with a decline noted in the past year, recording 83.8%, 92.2%, and 91.2% from 2022 to 2024 [4]. - The capital expenditure is on the rise, but the net cash flow from operating activities is sufficient to cover these expenses [4][6]. - As of the end of Q1, the company's debt-to-asset ratio decreased significantly to 44.91% from 53% in 2022, indicating improved financial health [6]. Group 4: Revenue Growth and Challenges - Sanhua Intelligent Control is the largest manufacturer of refrigeration control components globally, with revenue growth from 121 billion to 279 billion from 2020 to 2024, but growth rates have been slowing [7][9]. - The revenue growth rates for the same period were 7.29%, 32.30%, 33.25%, 15.04%, and 13.8%, while net profit growth rates were 2.76%, 15.7%, 52.98%, 12.49%, and 6.07% [7]. - Accounts receivable have increased significantly, with a 20% growth rate in 2024, while revenue growth was only 13.8%, indicating potential issues with cash flow management [9]. Group 5: Market Position and Competition - The company holds a dominant market share of 45.5% in the global refrigeration control components market, but faces intense competition from major manufacturers [10]. - In the automotive parts sector, Sanhua's revenue grew from 75.14 billion to 113.87 billion from 2022 to 2024, with a market share of approximately 4.1% in the automotive thermal management systems [12]. - The company is also exploring opportunities in the robotics sector, planning to invest at least HKD 3.8 billion in a new R&D and production base for robotic actuators [12].

文/西风 6月12日，广州科莱瑞迪医疗器材（873414）北交所IPO、宁波惠康工业科技深交所主板IPO获得受理。科莱瑞迪、惠康科技2024年扣非净利润分别为0.6111亿元、 4.4229亿元。报告期，科莱瑞迪的第一大客户为美国公司且系公司的联营企业、惠康科技的第一大客户为加拿大公司。 截至6月12日，2025年沪、深、北三大交易所共受理了33家IPO项目，其中上交所受理了7家、北交所受理了21家、深交所受理了5家。 一、广州科莱瑞迪医疗器材股份有限公司北交所IPO 公司前身有限公司成立于2000年12月，2016年5月整体变更为股份公司，2016 年 11 月 24 日公司股票挂牌新三板，证券代码：839744。公司股票于 2018 年 7 月 13 日摘牌；于 2024 年 10 月 23 日第二次挂牌，挂牌同时进入创新层，证券代码：873414。公司目前注册资本6180万元。 （一） 主营业务 公司是一家放射治疗和康复治疗领域的配套医疗器械解决方案提供商，主营业务为肿瘤放射治疗中的放疗定位装置以及康复治疗中康复辅助器械的研发、生产和 销售。公司是国家级专精特新重点"小巨人"企业、广东省制造业单项冠军企 ...

截至6月12日，2025年沪、深、北三大交易所共受理了33家IPO项目，其中上交所受理了7家、北交所受理了21家、深交所受理了5家。 一、广州科莱瑞迪医疗器材股份有限公司北交所IPO 公司前身有限公司成立于2000年12月，2016年5月整体变更为股份公司，2016 年 11 月 24 日公司股票挂牌新三板，证券代码：839744。公司股票于 2018 年 7 月 13 日摘牌；于 2024 年 10 月 23 日第二次挂牌，挂牌同时进入创新层，证券代码：873414。公司目前注册资本6180万元。 （一） 主营业务 公司是一家放射治疗和康复治疗领域的配套医疗器械解决方案提供商，主营业务为肿瘤放射治疗中的放疗定位装置以及康复治疗中康复辅助器械的研发、生产和 销售。公司是国家级专精特新重点"小巨人"企业、广东省制造业单项冠军企业、国家级高新技术企业、广东省医用生物材料工程技术研究中心、广东省博士工作 站，具备自主研发能力，已经建立了精益化生产线，能根据客户需求快速制定生产计划，及时提供产品及服务。 截至报告期期末，公司共获得 120 项专利（境内专利 118 项，境外专利 2 项），其中发明专利 30 项（境内 ...

点击蓝字，关注我们 所得款项净额约30%将用于产品组合的持续全球研发及创新。所得款项净额 约30%将用于未来三 年内于中国扩建及新建工厂以及提高生产自动化水平 ，以进一步提高集团的产能及效率。所得款 项净额 约25%将用于通过扩大集团的海外产能深化全球化布局 。所得款项净额约5%将用于在未 来三年内加强集团的数字智能基础设施。所得款项净额约10%，将用作营运资金及一般企业用 途。 内容来源于智通财经APP 贝塔投资智库 为投资交易提供更有价值的服务 根据弗若斯特沙利文的资料， 按2024年收入计，集团是全球最大的制冷空调控制元器件和全球领 先的汽车热管理系统零部件制造商。 根据弗若斯特沙利文的资料，按2024年收入计，集团于全球 制冷空调控制元器件市场的市场占有率约为45.5%。根据弗若斯特沙利文的资料， 按2024年收入 计，集团于全球汽车热管理系统零部件市场的市场占有率约为4.1%，于全球排名第五 。集团将发 展智能低碳经济，营造绿色品质环境作为使命愿景，始终专注于热管理技术的研发、推广和应 用，以行业领先的高品质产品为全球客户提供能效解决方案。集团致力于全球化运营，业务横跨 制冷空调电器零部件及汽车零部 ...