今起停牌。 8月25日晚间，晶升股份（688478）公告，公司正在筹划以发行股份及支付现金的方式购买北京为准智能科 技股份有限公司（简称"北京为准"）的控股权，同时拟募集配套资金。 | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 688478 | 晶升股份 | A 股 停牌 | 2025/8/26 | | | | 晶升股份表示，本次交易尚处于筹划阶段，截至公告披露日，北京为准的估值尚未最终确定。根据相关规 定，尚无法确定本次交易是否构成重大资产重组。此外，因标的公司审计评估、交易金额、发行股份及支付 现金比例等内容暂未确定，尚无法确定本次交易是否构成关联交易。 对于本次交易是否构成重大资产重组及关联交易的具体认定，晶升股份将在重组预案或重组报告书中予以详 细分析和披露。本次交易不会导致公司实际控制人发生变更，不构成重组上市。根据相关规定，公司股票将 于8月26日（星期二）开市起停牌，预计停牌时间不超过10个交易日。 公告显示，北京为准2014年2月成立，注册资 ...

8月25日晚，半导体专用设备供应商晶升股份（688478）发布公告称，公司正筹划以发行股份及支付现金的方式购买北京为准智能科技股份有限公司（简 称"北京为准"）的控股权，同时拟募集配套资金。 | 证券代码 证券简称 | | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 688478 | 晶升股份 | A 股 停牌 | 2025/8/26 | | | | 晶升股份公告称，上述交易尚处于筹划阶段。根据相关规定，尚无法确定是否构成重大资产重组。为避免造成公司股价异常波动，公司股票将于8月26日 （星期二）开市起停牌，预计不超过10个交易日。 尚处于筹划阶段 公司2024年年报显示，晶升股份是一家半导体专用设备供应商，主要从事晶体生长设备的研发、生产和销售，陆续开拓了上海新昇、金瑞泓、神工股份、 三安光电、东尼电子、比亚迪等客户。 上述公告显示，此次拟购买标的公司北京为准成立于2014年2月27日，其经营范围包括：技术开发、技术服务、技术咨询、技术转让、技术推广；计算机 系统服务；销售机械设备、电 ...

Core Viewpoint - The report outlines the fundraising activities and usage of funds by Hangzhou Changchuan Technology Co., Ltd. for the first half of 2025, detailing the amounts raised, allocated projects, and changes in project funding [1][2][4]. Fundraising Overview - In 2021, the company raised a total of RMB 371.80 million by issuing 8,126,775 shares at RMB 45.75 each, with a net amount of RMB 364.71 million after deducting underwriting fees [1]. - In 2023, the company raised RMB 276.70 million by issuing 8,415,450 shares at RMB 32.88 each, with a net amount of RMB 271.98 million after deducting related fees [2]. Fund Usage and Management - As of June 30, 2025, the net amount of funds raised was RMB 362.46 million, with cumulative project investments of RMB 332.25 million and net interest income of RMB 2.03 million [2][5]. - The company has established dedicated bank accounts for fundraising, ensuring compliance with regulatory requirements and protecting investor interests [8][7]. Project Investment Status - The funds have been allocated to various projects, including the development and industrialization of probe stations and sorting machines, with specific amounts and progress detailed in the report [9][10]. - The probe station project has faced delays, with the expected completion date extended to December 31, 2025, due to technical challenges and market conditions [11][18]. Changes in Project Funding - The company decided to reallocate RMB 50 million from the probe station project to the high-end semiconductor manufacturing base project, reflecting a strategic shift based on market dynamics [16][20]. - The sorting machine project has also seen changes in its implementation structure, with the addition of EXIS TECH SDN BHD as a project partner and a change in the project location to Sichuan Province [12][14]. Financial Management - The company has utilized temporary idle funds for operational liquidity, with a total of RMB 74 million used for this purpose, which has been returned within the stipulated timeframe [19][22]. - The report indicates that the company has maintained strict adherence to its fundraising management protocols, ensuring transparency and accountability in fund usage [7][8].

Core Viewpoint - The Liaoning Revitalization Development Fund has made its first investment of 334 million yuan in Shenyang, marking a significant step in promoting local innovation and development [1] Group 1: Fund Details - The Liaoning Revitalization Development Fund was established by China Chengtong and China Guoxin and is set to be operational by the end of 2024 [1] - The fund's initial investment in Shenyang is part of a broader initiative to support local enterprises through a collaboration between central and local state-owned assets [1] Group 2: Investment Impact - The fund has signed agreements with four innovative enterprises in Shenyang, which are involved in key sectors such as rail transit sensors, aerospace composite materials, inorganic non-metallic materials, and semiconductor equipment [1] - This investment is expected to enhance the technological capabilities and competitiveness of the supported companies in their respective fields [1]

Core Viewpoint - Dalian Bai'ao Chemical Co., Ltd. is successfully transforming its business towards semiconductor equipment, showcasing significant growth in its high-end lithography machine segment and a strong order backlog [1][2]. Company Overview - Bai'ao Chemical has over 20 years of experience in the industrial biocide industry, with an annual production capacity exceeding 40,000 tons, making it the largest producer of isothiazolinone-based industrial biocide raw materials in Asia [1]. - The company has established semiconductor equipment as a strategic development direction in early 2024, marking a significant shift from its traditional industrial biocide business [1]. Semiconductor Equipment Business - Bai'ao Chemical acquired 54.63% voting rights in Suzhou Xinhuilian Semiconductor Technology Co., Ltd. (Xinhuilian) through capital increase and voting rights entrustment, integrating it into the company's consolidated financial statements [1]. - Xinhuilian specializes in the R&D, production, and sales of semiconductor equipment, with six major business segments including photolithography equipment and wet cleaning equipment [2]. Financial Performance - In 2024, Xinhuilian achieved operating revenue of 543 million yuan, a year-on-year increase of 215.75%, and a net profit attributable to shareholders of 97 million yuan, up 370.82% year-on-year [2]. - The gross profit margin for Xinhuilian was 51.31%, an increase of 20.12 percentage points compared to the previous year, with the photolithography equipment segment boasting a gross margin of 71.56% [2]. Customer Contracts - As of the end of 2024, Xinhuilian's top five customers had a total contract amount of 1.369 billion yuan, with over 1 billion yuan in contracts yet to be recognized as revenue [2][3]. - One significant customer accounted for a contract amount of 492 million yuan, including two major contracts for photolithography equipment scheduled for delivery in 2025 [3]. Market Outlook - The semiconductor equipment market is expected to experience rapid growth due to the increasing demand for specialized equipment and the domestic semiconductor industry's advancements [1][3].

Group 1 - Two new stocks are available for subscription on March 11, namely New Asia Cable and Silicon Electric [1] - New Asia Cable plans to issue a total of 62 million shares, with 18.6 million shares available for online subscription, at a price of 7.40 yuan and a price-to-earnings ratio of 18.71 [1] - Silicon Electric plans to issue a total of 10.43 million shares, with 10.43 million shares available for online subscription, at a price of 52.28 yuan and a price-to-earnings ratio of 26.23 [1] Group 2 - New Asia Cable specializes in the research, production, and sales of electric wires and cables, with main products including power cables and overhead conductors [1] - Silicon Electric focuses on the research, production, and sales of semiconductor-specific equipment [1]