每经AI快讯，鸿博股份（SZ 002229，收盘价：18.46元）9月15日晚间发布公告称，公司第七届第一次 董事会会议于2025年9月15日在福州市仓山区南江滨西大道26号鸿博梅岭观海B座21层会议室以通讯会 议的方式召开。会议审议了《关于聘任高级管理人员的议案》等文件。 2025年1至6月份，鸿博股份的营业收入构成为：AI算力占比75.25%，印刷占比23.14%，其他行业占比 1.62%。 截至发稿，鸿博股份市值为92亿元。 每经头条（nbdtoutiao）——重大突破！中国这款新药，中美官方都认定有突破性疗效！世界肺癌大会 沸腾了 （记者 王晓波） ...

出海逻辑成热门主题背后隐形主线。 今年，市场主线轮动加速，人工智能、创新药、人形机器人、固态电池等热门主题轮番走强，大幅反弹 行情频频上演。若深挖这轮行情的核心推手，出海逻辑的支撑作用不容忽视。 当下，出海标的已从前期的线索蜕变为市场的重要隐形主线，既能释放出高速增长的业绩，又催生大量 投资机会，孕育出批量翻倍股。面对这一趋势，基金经理纷纷将其纳入重点配置范畴，随着行情逐步演 绎，部分布局精准的基金已率先进入收获阶段。 在一些基金经理的持仓中，业务出海公司成为基金产品标配，并为基金业绩贡献颇多。如陈文凯管理的 华泰柏瑞质量成长混合基金今年取得107.05%的翻倍业绩，该基金十大重仓股既包括胜宏科技、新易 盛、中际旭创等人工智能算力相关公司，也包括涛涛车业、泡泡玛特、匠心家居和春风动力（603129） 等消费类公司。 在陈文凯的配置持仓中，消费与科技占有同等重要地位，而出海成为组合持仓的重要隐形主线，这些重 仓股中均有境外业务收入，其中匠心家居、涛涛车业和新易盛今年半年报的境外收入占比均超过90%。 隐形主线成为共识 出海逻辑孕育批量翻倍股 今年，科技与新消费主导市场超额收益，成为最大主线，人工智能、创新药、人 ...

当下，出海标的已从前期的线索蜕变为市场的重要隐形主线，既能释放出高速增长的业绩，又催生大量 投资机会，孕育出批量翻倍股。面对这一趋势，基金经理纷纷将其纳入重点配置范畴，随着行情逐步演 绎，部分布局精准的基金已率先进入收获阶段。 出海逻辑孕育批量翻倍股 今年，科技与新消费主导市场超额收益，成为最大主线，人工智能、创新药、人形机器人、新消费等热 门主题轮番走强，重仓这些领域的基金更是收获颇丰。 深挖这轮行情背后，出海成为贯穿其中的重要逻辑支撑。从市场表现来看，出海标的成为不容忽视的隐 形主线。对一部分基金经理而言，出海逻辑已不再是科技成长逻辑的补充选项，已成为配置组合中的核 心脉络。 从今年市场表现来看，热门主线题材股与出海标的高度重合，翻倍股批量涌现。 Wind数据显示，今年共有420多只翻倍股，其中超110只个股的境外收入占比超30%，其中，热门基金重 仓股频现。 在基金重仓的茂莱光学、新易盛、菲利华、芯原股份、浙江荣泰、中际旭创、胜宏科技等公司中，境外 收入占比均不低。匠心家居、涛涛车业、香农芯创、剑桥科技、中坚科技等公司的境外业务收入占比甚 至超过了90%。 出海逻辑成热门主题背后隐形主线。 今年，市场主 ...

Core Viewpoint - Roman Holdings plans to acquire a 39.2308% stake in Shanghai Wutong Tree High-tech Co., Ltd. for up to 200 million RMB, aiming to gain control of the company, which has seen its valuation soar 18 times in just nine months [2][3][13]. Group 1: Acquisition Details - The acquisition price of up to 200 million RMB implies a maximum valuation of 510 million RMB for Wutong Technology, which was valued at only 26 million RMB during its angel round financing less than two years ago [3][4]. - Roman Holdings has set multiple safeguards for this acquisition, including a performance commitment of no less than 400 million RMB in net profit over three years, and a compensation mechanism involving the controlling shareholder [2][12]. Group 2: Company Background - Wutong Technology, established in December 2023, focuses on AIDC computing power servers and integrated solutions, and is a subsidiary of Wuchuang High-tech Group, which is backed by several universities [4][5]. - The company has launched several AI computing products, including the "Tongxin" general computing card and "Qingluan" integrated workstation, positioning itself as a leader in AI computing equipment development in China [5][12]. Group 3: Roman Holdings' Business Context - Roman Holdings has previously attempted to diversify into the metaverse and renewable energy sectors since its listing in 2021, but these ventures have not met market expectations [2][13]. - The company reported a revenue of 687 million RMB and a net loss of 34.84 million RMB in 2024, marking its second loss since going public, attributed to weak main business growth and high accounts receivable [13][14].

Core Viewpoint - The company reported a significant net loss in 2024 while maintaining financial resilience and exploring new business opportunities to drive growth and value enhancement in a challenging real estate market [1][2][5]. Financial Performance - In 2024, the company achieved an operating revenue of 4.171 billion yuan, with a net profit attributable to shareholders of -2.336 billion yuan [1]. - The company faced a loss primarily due to a cautious approach in response to the industry's severe conditions, leading to a three-year suspension of new real estate investments and a decrease in project completions [2]. - The company recorded a substantial inventory impairment of 2.163 billion yuan and a total profit impact of -2.668 billion yuan from impairment provisions and deferred tax asset reversals [2]. - As of the end of 2024, the company maintained a debt-to-asset ratio of 43.52%, a net debt ratio of 15.08%, and a cash-to-short-term debt ratio of 1.72, indicating strong financial health [2]. Business Strategy - The company aims to stabilize its core real estate business while promoting transformation and collaboration, focusing on inventory reduction and cash flow preservation as core objectives [3]. - The company plans to optimize and streamline its real estate operations, concentrating on key regions and cities [3]. New Business Development - The company has successfully entered the artificial intelligence computing power and low-altitude economy sectors, which are supported by national policies and have significant growth potential [4]. - A joint venture with Fujian Big Data Industry Investment Company has led to the establishment of a smart computing center, generating approximately 40 million yuan in contract revenue in its first year [4]. - The company is in the preparatory phase of investing in a low-altitude urban smart hub airport and has acquired shares in AutoFlightX Inc., with a total cash investment of no less than 12 million USD [4]. Future Outlook - The company is constructing a dual-enabled development ecosystem that integrates its real estate core business with new transformation initiatives, aiming for resilient growth and value enhancement amid industry changes [5].