在退市边缘挣扎已久，*ST聆达（SZ300125，股价7.31元，总市值48.67亿元）终迎新的掌舵人。 1月9日晚间，*ST聆达发布公告，因执行重整计划，公司控股股东变更为金寨金微半导体材料有限公司 （以下简称金微半导体），实际控制人则变更为创业板上市公司精测电子（SZ300567）的实际控制人彭 骞。 公告介绍，过户完成后，金微半导体持有公司股份约1.13亿股，占公司总股本的16.99%（以扣除应回购注 销的210万股股份后的股本总额为计算基准），为公司第一大股东。公司控股股东由无控股股东变更为金 微半导体。金微半导体、浙江众凌的实际控制人彭骞通过控制这两家公司，间接控制公司股份1.33亿股， 占总股本的20%。上述股份均为有限售条件流通股，锁定期为36个月。 公司控股股东、实际控制人股份变动情况 | 股东名称 本次过户完成前 本次过户完成后 | | | | --- | --- | --- | | 股份数量(股) 股份数量(股) | 占公司总股 本比例(%) | 占公司总股 本比例(%) | | 金寨金微半导体 0 112,750,000 材料有限公司 | 0 | 16.99% | | 金微半导体、浙江众 ...

Core Viewpoint - Shenzhen Tiansu Measurement Testing Co., Ltd. successfully held an online roadshow for its initial public offering and listing on the ChiNext board on December 11, 2025, showcasing its advancements in battery testing capabilities and technology innovations [1] Group 1: Company Overview - The company has invested in 84 major battery testing capabilities and operates over 2,000 testing channels for cell, module, and battery pack testing [1] - It has developed multiple technological innovations, including ultra-fast charging testing technology for power batteries and comprehensive reliability verification testing technology for new energy batteries [1] Group 2: Industry Impact - The company provides extensive services to over 2,000 new energy enterprises, including notable clients such as GAC Group, Xpeng Motors, Zhongchuang Innovation, Haichen Energy Storage, JuWan Technology Research, Yiwei Lithium Energy, and Honeycomb Energy [1] - The company's contributions are significant in supporting clients with product innovation and market launch [1]

Core Insights - The article highlights the strategic focus of RuiNeng Co., Ltd. on independent research and development, which has established a strong technological moat over the past two decades [1][6] - The company has evolved from a small warehouse startup to a global leader in the new energy testing field, serving over 2,000 enterprises worldwide [1][6] Group 1: Early Challenges and Strategic Decisions - In the early stages, RuiNeng faced significant challenges, including a low cash balance of only 3,000 yuan, but chose to invest all profits into R&D rather than quick profits [2] - The first-generation CTS series intelligent battery testing equipment was developed with high precision and competitive pricing, securing a 500,000 yuan order [2] - RuiNeng's high-voltage direct current bus series technology has become a standard in the industry, significantly improving efficiency and reducing costs for clients [2] Group 2: Forward-Looking Technology Layout - The company has strategically positioned itself in the energy storage sector by developing MW-level energy storage container testing systems, enhancing safety and efficiency [3] - RuiNeng has developed high-performance testing equipment for solid-state batteries, addressing the unique challenges posed by their materials and processes [4] Group 3: Standard Setting and Global Influence - RuiNeng is actively involved in setting industry standards, including leading the formulation of operational guidelines for electrochemical energy storage stations [5] - The company has accumulated numerous patents and intellectual property rights, enhancing its technological leadership and global competitiveness [5] Group 4: Global Expansion and Market Position - As a representative of China's new energy equipment going global, RuiNeng has established a comprehensive service network across Asia, Europe, and America [6] - The company’s products and solutions are widely used in various sectors, including power batteries and energy storage systems, and have gained international certifications [6]

Summary of the Conference Call Company Overview - The company focuses on the entire commercial aerospace industry chain, covering low-altitude economy, high-altitude, and space sectors, with core competencies in electronic component quality assurance, manufacturing, and inspection services [2][5][10] - The company has rapidly increased its production capacity to approximately 2 billion yuan post-IPO, although second-quarter performance declined due to changes in project accounting methods and delays in project confirmations [2][8][19] Key Business Developments - The company has established a one-stop service model to expand market share and has formed partnerships with companies like Blue Arrow and CASIC [2][10] - In the aerospace sector, revenue for the first half of 2025 was approximately 38 million yuan, with inspection services accounting for over 90% of this revenue [2][13] - The company has a satellite testing equipment utilization rate of about 70%-80%, while manufacturing utilization is lower, but efforts are underway to improve this through strategic partnerships [2][20] Financial Performance - The second-quarter decline in performance was attributed to a shift in revenue recognition methods and delays in project confirmations, but overall operations remain stable [8][19] - The company expects to achieve annual revenue of 102 million yuan in the aerospace sector for 2025, representing a significant increase from the previous year's revenue of over 20 million yuan [19] Strategic Initiatives - The company plans to enhance missile production capacity to 20,000 units annually and is actively pursuing diversification into large aircraft, renewable energy, and nuclear energy sectors [3][24] - The company is also focusing on military informationization and the construction of a comprehensive aerospace system [23] Market Position and Competitive Advantage - The company is the only domestic entity with multiple aerospace certifications and has established a unique position in the commercial aerospace value chain [10][11][12] - Collaborations with major companies like Huawei have solidified its market position, with Huawei considering the company a rare resource due to its comprehensive testing capabilities [20] Future Outlook - The company anticipates continued growth in the aerospace sector, driven by increasing market demand and enhanced capabilities [14][21] - Future revenue growth will depend on the overall industry development pace and the company's ability to secure large-scale production tasks [19] Challenges and Risks - The company faces pressure on net profit margins due to significant upfront investments and ongoing expenditures in new industry directions [25] - The need for continuous capacity expansion and the potential for further financing to support growth initiatives are acknowledged [26][28] Additional Business Directions - Besides commercial aerospace, the company is making strides in the large aircraft sector and low-altitude economy, ensuring a diversified business approach [29] Brand Awareness and Market Presence - The company is enhancing brand recognition through marketing initiatives and establishing a presence in key markets, aiming to attract high-quality clients [30] Conclusion - While current performance has not yet exploded, the company is optimistic about future growth, particularly in commercial aerospace and domestic large aircraft sectors, and encourages investor support [31]

2 0 2 5 年 1 月 8 日 ， 由 安 徽 省 院 士 专 家 联 合 会 与 安 徽 省 科 学 家 企 业 家 协 会 联 合 开 展 的" 2 0 2 4年度评优工作"的评定名单正式揭晓。 瑞能股份董事长毛广甫凭借其在新能源 检测领域的卓越贡献，被授予" 2 0 2 4年度优秀专家"称号， 与诸多中国工程院院士、欧 洲科学院院士等国内外顶尖科学家、知名高校专家教授及行业领军人物共获殊荣。 同 时，瑞能股份凭借"动力电池自动在线测试装备"摘得" 2 0 2 4年度科技成果创新奖"，尽 显企业技术实力与创新风采。 01 持续奋斗 瑞能股份董事长毛广甫获行业殊荣 安徽省院士专家联合会与安徽省科学家企业家协会，汇聚了国内外众多顶尖科研力量与优秀企业精英。此次开展" 2 0 2 4年度评优工作"旨在表彰 在科技创新与产业发展中表现突出的个人和企业。获评"优秀专家"的人选必须是对推动经济建设、科技进步和社会发展有突出贡献的高层次专业 人才。 作为新能源检测领域的领军人物，毛广甫自2 0 0 3年创办瑞能股份以来，始终笃定科技创新为企业发展根基，聚焦新能源检测，锚定"高效、智 能、安全"方向，全力攻坚锂电池检 ...