根据目前的发行安排，下周有5只新股申购，包括2只主板新股、2只创业板新股、1只科创板新股。 从日程安排看，周一（12月8日）可申购创业板新股纳百川、科创板新股优迅股份，周二（12月9日）可 申购深市主板新股元创股份，周五（12月12日）可申购创业板新股天溯计量、沪市主板新股锡华科技。 | | 下周新股申购安排 | | | | | --- | --- | --- | --- | --- | | 日期 | 新股 | 发行价/股 | 发行市盈率 | 上市板 | | 周一 | 纳百川 (申购代码: 301667) | 22.63元 | 28.70 | 创业板 | | (12月8日) | 优迅股份 (申购代码:787807) | 51.66元 | 60.27 | 科创板 | | 周二 (12月9日) | 元创股份 (申购代码:001325) | 24.75元 | 12.93 | 深市主板 | | 周五 (12月12日) | 天溯计量 (申购代码:301449) | 待定 | 1 | 创业板 | | | 锡华科技 (申购代码:732248) | 待定 | L | 沪市主板 | 纳百川是国内电池热管理龙头企业。 纳百川的发 ...

| | 下周新股申购安排 | | | | | --- | --- | --- | --- | --- | | 日期 | 新股 | 发行价/股 | 发行市盈率 | 上市板 | | 周一 | 纳百川 (申购代码: 301667) | 22.63元 | 28.70 | 创业板 | | (12月8日) | 优迅股份 | 51.66元 | 60.27 | 科创板 | | | (申购代码: 787807) | | | | | 周二 (12月9日) | 元创股份 | 24.75元 | 12.93 | 深市主板 | | | (申购代码:001325) | | | | | 闇五 (12月12日) | 天湖计量 (申购代码: 301449) | 待定 | | 创业板 | | | 锡华科技 | 待定 | | 沪市主板 | | | (申购代码: 732248) | | | | 纳百川是国内电池热管理龙头企业。 根据目前的发行安排，下周有5只新股申购，包括2只主板新股、2只创业板新股、1只科创板新股。 纳百川的发行价为22.63元/股，发行市盈率为28.7倍，参考行业市盈率为28.71倍。公司本次公开发行股票数量为2791.74万股， ...

Investment Rating - The investment rating for the company is "Buy," indicating that the stock is expected to outperform the market index by more than 15% over the next 6-12 months [33]. Core Insights - The company has made significant breakthroughs in next-generation 25G PON technology, achieving mass production of integrated transceiver chips and is expected to enter mass production of 50G PON solutions by 2026 [1][25]. - The company is a major supplier in the global optical communication chip market, particularly in the 10Gbps and below segment, and is rapidly expanding its presence in the 25G and above market [24][27]. - The company has a comprehensive product range covering from single-channel 155Mbps to multi-channel 800Gbps optical communication chips, with a strong focus on high-speed optical communication technology [24][28]. Financial Performance - The company reported revenues of 339.1 million yuan in 2022, 313.1 million yuan in 2023, and is projected to achieve 410.6 million yuan in 2024, reflecting a year-over-year growth of -7.65% in 2023 and 31.11% in 2024 [5][9]. - The net profit attributable to the parent company was 81.4 million yuan in 2022, 72.1 million yuan in 2023, and is expected to be 77.9 million yuan in 2024, with year-over-year changes of -11.44% and 8.02% respectively [5][9]. - For 2025, the company anticipates revenue growth of 15.70% to 20.57%, with net profit growth of 18.15% to 25.86% [9][30]. Industry Overview - The optical communication chip industry is positioned as a high-tech segment within the semiconductor integrated circuit field, with significant investment and longer R&D cycles compared to other components [18][19]. - The global market for optical communication chips is expected to grow significantly, driven by advancements in AI, data centers, and 5G technology, with the telecom side market projected to reach 1.85 billion USD by 2024 and the data center side market expected to reach 2.09 billion USD [22][23]. Company Highlights - The company has been recognized as a leading supplier in the optical communication chip sector, particularly in the 10Gbps and below market, and is rapidly increasing its market share in the 25G and above segment [24][27]. - The company has participated in several national-level research projects and has received multiple national qualifications, indicating its strong position in the industry [8][24]. - The company plans to invest in three key projects through its IPO, focusing on next-generation access networks, automotive chips, and high-speed optical communication chips [28][29]. Peer Comparison - In comparison to similar companies, the average revenue for peers in 2024 is projected at 701 million yuan, with an average PS-TTM of 27.70X and a gross profit margin of 35.61%. The company’s revenue is below the peer average, but its gross profit margin is in the mid-to-high range [30][31].

Group 1: New IPOs - This week (September 15 to 19), there are 5 new stocks available for subscription, including 1 from the Shenzhen Main Board, 3 from the ChiNext, and 1 from the Beijing Stock Exchange [1] - The ChiNext new stock, United Power, has an issue price of 12.48 CNY per share and a price-to-earnings ratio of 32.87, compared to the industry average of 28.3 [2] - United Power is a leading enterprise in the new energy vehicle power system, operating independently within the Inovance Technology system since 2016, and plans to raise 3.601 billion CNY through its IPO [2] - Another ChiNext new stock, Jianfa Zhixin, focuses on high-value medical device distribution and plans to raise 484 million CNY [3] - The Shenzhen Main Board new stock, Ruili Kemi, specializes in active safety systems for vehicles and aims to raise funds for various projects [3] - The ChiNext new stock, Yunhan Xincheng, is an innovative high-tech enterprise in electronic component distribution, planning to raise 522 million CNY [4] Group 2: Upcoming IPO Meetings - Three companies are scheduled for IPO meetings this week: Yuxun Co. for the Sci-Tech Innovation Board, Xin Guoyi for the ChiNext, and Yuanchuang Co. for the Shenzhen Main Board [5] - Yuxun Co. is a national champion in the optical communication field, focusing on the development and sales of optical communication chips, with an IPO fundraising target of 889 million CNY [6] - Xin Guoyi specializes in high-performance specialty functional materials, aiming to raise 638 million CNY through its IPO [6] - Yuanchuang Co. is a leading player in the rubber track industry, with a significant market share and plans to raise 485 million CNY [7]