长江商报消息 ●长江商报记者 江楚雅 罗曼股份跨界算力后再签大单。 2021年末元宇宙概念热潮中，公司宣布与全球沉浸式体验头部企业英国Holovis合作设立公司，进军虚 拟文娱业务，于2024年9月以约2.15亿元完成收购。 再揽算力大单 罗曼股份控股子公司武桐高新再次签下算力大单。 公告称，公司于近日收到武桐高新的通知，武桐高新与天津茂元设备租赁有限公司、招商局智融供应链 服务有限公司签订了《买卖合同》。按照合同约定，交易对方将向武桐高新采购适用于招商局智融供应 链服务有限公司的其他相关业务的算力服务项目，合同金额约1.56亿元。 此次合同金额占罗曼股份2025年前三季度营收的21.3%，若顺利执行将直接增厚公司业绩。根据公告约 定，武桐高新将通过外采服务器设备，依据客户技术指标完成产品设计、组装、测试及性能调优，最终 交付定制化算力产品。不过公司也提示风险，若终端市场行情波动导致客户需求变更，可能因技术储 备、供应链灵活性等准备不足，出现订单延误、违约甚至合作终止的情况。 这是武桐高新近一个月斩获的第二笔大额算力订单，2025年12月5日，其签下4.48亿元算力设备销售及 服务合同。合计约6亿元的订单，彰 ...

公告显示，武桐高新获取客户服务器业务订单，通过外采服务器设备，根据客户要求的技术指标，对产 品进行设计、组装、测试和性能调优，在完成产品生产测试后，向客户交付产品。若终端市场行情波动 导致客户需求发生变更，进而要求武桐高新同步调整其产品或服务时，可能因在技术储备、供应链灵活 性及验证流程上的准备未达要求，导致现有订单无法按变更后的要求顺利执行完毕，存在订单延误、违 约乃至合作终止的风险。 12月5日罗曼股份公告称，武桐高新签下总共约4.48亿元的算力设备销售及服务合同。 今年8月，主营景观照明的罗曼股份通过并购跨界算力。公司拟以现金方式收购武桐高新39.23%的股 权，交易对价上限为2亿元，此次收购还附带2025年至2027年累计4亿元的净利润对赌协议。 罗曼股份（605289）控股子公司武桐高新再次签下算力大单。 12月29日晚罗曼股份公告称，公司于近日收到武桐高新的通知，武桐高新与天津茂元设备租赁有限公 司、招商局智融供应链服务有限公司签订了《买卖合同》。按照合同约定，向武桐高新采购适用于招商 局智融供应链服务有限公司的其他相关业务的算力服务项目，合同金额约1.56亿元。 武桐高新成立于2023年12月， ...

12月23日，罗曼股份跌5.08%，截至发稿，报65.75元/股，成交8441.26万元，换手率1.16%，总市值 71.67亿元。 资料显示，上海罗曼科技股份有限公司位于上海市杨浦区杨树浦路1198号山金金融广场B座，成立日期 1999年3月4日，上市日期2021年4月26日，公司主营业务涉及景观照明整体规划和深化设计、景观照明 工程的施工以及远程集控管理等景观照明其他服务。主营业务收入构成为：数字文娱板块39.31%，城 市照明板块38.10%，数智能源板块22.33%，其他(补充)0.26%。 长盛城镇化主题混合A（000354）成立日期2013年11月12日，最新规模2.76亿。今年以来收益 109.21%，同类排名60/8088；近一年收益101.03%，同类排名71/8057；成立以来收益369.72%。 长盛城镇化主题混合A（000354）基金经理为代毅。 截至发稿，代毅累计任职时间7年204天，现任基金资产总规模10.04亿元，任职期间最佳基金回报 154.48%， 任职期间最差基金回报-4.03%。 责任编辑：小浪快报 从基金十大重仓股角度 数据显示，长盛基金旗下1只基金重仓罗曼股份。长盛城 ...

"并购六条"发布以来，上市公司在2025年掀起并购高潮，更具包容性的并购重组制度激活了资本市场新 生态。12月7日，在2025上证（巢湖）上市公司高质量发展大会的圆桌对话环节，多位上市公司创始 人、董事长围绕新质生产力领域的并购重组展开头脑风暴，共同研判2026年的产业并购新机遇、跨境并 购新挑战、并购交易新模式。 借力产业并购 实现行业领跑 "并购重组已成为提高上市公司质量的重要手段，目前，A股上市公司围绕新兴市场领域的并购重组活 跃度、包容性和灵活性正在全面提升。"中国科学技术大学科技商学院、管理学院执行院长叶强在主持 圆桌对话时表示。 当前，并购重组已成为A股公司实现跨越式发展的重要路径，也是企业筑就头部地位、抢抓产业机遇的 关键抓手，不断为高质量发展注入强劲动力。 "并购重组是企业实现外延式发展的重要路径之一。和元生物一直具有整合发展的理念，也体验过并购 重组带来的发展红利。"和元生物董事长潘讴东表示，公司在新三板转板科创板前，通过并购特定技术 领域的领先企业，成功跻身细胞与基因治疗领域头部阵营。 利元亨则是跨境并购的受益者。利元亨创始人、实控人卢家红介绍称，利元亨几年前收购了一家欧洲知 名装备企业的 ...

Core Viewpoint - Haosai is under investigation for suspected information disclosure violations, raising questions about potential bribery related to its performance and the competitive nature of its industry [1][2] Group 1: Company Background - Haosai's main business includes smart lighting, smart tourism, and smart cities, with lighting design and engineering as its core revenue source [4] - The industry is highly competitive, with demand influenced by economic cycles, macroeconomic policies, and local government finances [4] - The company's clients primarily consist of state-owned enterprises and government departments, utilizing bidding and negotiation for business acquisition [4] Group 2: Financial Performance - Since its listing in 2019, Haosai has faced continuous losses, with revenues declining from 7.88 billion in 2020 to 4.59 billion in 2024 [5] - In the first three quarters of 2025, the company reported revenues of 2.65 billion, a year-on-year decrease of 29.79%, and a net loss of 2631.38 million, a decline of 523.96% [6] Group 3: Internal Control and Compliance Issues - The company has faced scrutiny for its internal controls and compliance, receiving a regulatory warning for failing to disclose information timely [8] - The investigation into bribery and the subsequent legal actions against its former chairman highlight significant governance and operational deficiencies [2][8]

Core Viewpoint - The recent acquisition proposal by Time Space Technology (605178.SH) has raised regulatory concerns due to the company's previous failed ownership change and the significant losses in its main business, prompting scrutiny over the purpose and financial stability of the acquisition [2][3] Group 1: Acquisition Details - Time Space Technology plans to acquire 100% of Shenzhen Jiahe Jinwei Electronic Technology Co., Ltd. through a combination of issuing shares and cash payments, while maintaining its current control [3] - The acquisition is intended to address the company's struggling main business and seek industrial transformation [3][5] - The cash payment for the acquisition is expected to come from raised funds, with the controlling shareholder, Gong Lanhai, committing to contribute at least 30% of the funds from personal resources [10][11] Group 2: Regulatory Concerns - The Shanghai Stock Exchange has raised questions regarding the purpose of the acquisition, the operational quality of the target company, and the financial capability of Time Space Technology to make the payment [2][3] - Time Space Technology has clarified that the acquisition is unrelated to the previous ownership change and has provided a commitment from Jiahe Jinwei's shareholders not to seek control of the listed company for three years [3][4] Group 3: Market Context - The storage industry is currently experiencing a boom, driven by demand from the AI sector, particularly for high-bandwidth memory (HBM) products, although Jiahe Jinwei's products are primarily aimed at the consumer market [9] - Time Space Technology's stock price has nearly doubled since the announcement of the acquisition, reflecting market excitement despite the target company's lack of high-value-added capabilities [5][9] Group 4: Financial Performance Comparison - Jiahe Jinwei's financial performance shows significant growth potential, but it lacks core technology in main control chips, which may limit its profitability compared to peers [8][9] - The target company's revenue and net profit figures indicate a need for improvement, with a reported revenue of approximately 134.43 million and a net profit of 4.23 million, both showing positive growth from previous periods [8]

长盛城镇化主题混合A（000354）成立日期2013年11月12日，最新规模2.76亿。今年以来收益84.94%， 同类排名115/8145；近一年收益73.37%，同类排名142/8059；成立以来收益315.22%。 长盛城镇化主题混合A（000354）基金经理为代毅。 从基金十大重仓股角度 数据显示，长盛基金旗下1只基金重仓罗曼股份。长盛城镇化主题混合A（000354）三季度持有股数37.3 万股，占基金净值比例为5.88%，位居第六大重仓股。根据测算，今日浮盈赚取约123.09万元。 截至发稿，代毅累计任职时间7年164天，现任基金资产总规模10.04亿元，任职期间最佳基金回报 132.17%， 任职期间最差基金回报-4.03%。 11月13日，罗曼股份涨5.01%，截至发稿，报69.17元/股，成交1.09亿元，换手率1.49%，总市值75.40亿 元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 资料显示，上海罗曼科技股份有限公司位于上海市杨浦区杨树浦路1 ...

Core Viewpoint - The announcement from Shikong Technology (605178.SH) regarding its proposed acquisition of Shenzhen Jiahe Jingwei Electronic Technology Co., Ltd. has raised significant concerns from the Shanghai Stock Exchange, particularly regarding the lack of industry synergy and the financial stability of the target company [1][2] Group 1: Acquisition Proposal - Shikong Technology plans to acquire control of Jiahe Jingwei through a combination of issuing shares and cash payments, but the Shanghai Stock Exchange has issued an inquiry letter requesting clarification on several key issues [1] - The main business of Shikong Technology is landscape lighting, while Jiahe Jingwei focuses on memory modules and solid-state drives, indicating a significant business divergence and lack of relevant industry experience [1] - The exchange has requested an explanation of the rationale behind the cross-industry acquisition and whether there will be a change in actual control [1] Group 2: Financial Performance Concerns - Jiahe Jingwei reported a loss of 20.16 million yuan in 2023, with net profit margins of only 3.14% and 3.75% for the first eight months of 2024 and 2025, respectively, raising concerns about its profitability stability [1] - The performance of Jiahe Jingwei is significantly affected by fluctuations in storage chip prices, and the company has a large inventory that poses a risk of depreciation [1] - The exchange has requested an analysis of the competitive landscape and the sustainability of Jiahe Jingwei's profitability, questioning whether the acquisition will genuinely enhance the quality of Shikong Technology [1] Group 3: Feasibility of the Transaction - The feasibility of the transaction is in doubt, as Shikong Technology reported cash reserves of 229 million yuan at the end of 2024, with 3.65 million yuan being restricted funds, but the proposal lacks clarity on the specific cash payment amount and funding sources [2] - The exchange has raised concerns about whether the cash payment arrangements could significantly increase the financial burden on the company or lead to transaction failure due to insufficient funds [2] - Prior to the suspension of trading for this transaction, Shikong Technology's stock price experienced a surge, prompting inquiries into potential insider trading activities [2]

Core Viewpoint - The stock price of Shikong Technology surged to its daily limit after the announcement of a major asset restructuring plan, which involves acquiring 100% of Shenzhen Jiahe Jinwei Electronics Technology Co., aiming to enter the lucrative semiconductor storage sector [2][3]. Group 1: Company Overview - Shikong Technology was established in 2004, initially focusing on landscape lighting, and went public in 2020. However, the company has faced declining revenues and continuous losses since its first year of listing [3]. - Despite a slight recovery in revenue in 2024, the net loss has further expanded, with a 10.95% year-on-year revenue decline in the first half of 2025, resulting in over 750 million yuan in net losses over four and a half years [3]. Group 2: Acquisition Details - The acquisition of Jiahe Jinwei will be executed through a combination of share issuance and cash payment, with a share price set at 23.08 yuan [2]. - Jiahe Jinwei is recognized as a domestic memory module manufacturer with established partnerships with major wafer manufacturers like Samsung and Micron, showing growth in revenue and net profit from 2023 to August 2025, particularly achieving profitability in 2024 [2]. Group 3: Market Potential and Challenges - The semiconductor storage industry presents significant growth opportunities, and if the acquisition is successful, it could provide Shikong Technology with new profit growth points and enhance its sustainable profitability [3]. - However, challenges exist due to Shikong Technology's previous unsuccessful cross-industry attempts, indicating potential shortcomings in business integration and operational management. The competitive nature of the semiconductor storage sector and rapid technological advancements pose additional risks [3].

Core Viewpoint - After failing to transfer control, Shikong Technology is planning to diversify from landscape lighting into the lucrative semiconductor storage sector through the acquisition of 100% equity in Shenzhen Jiahe Jinwei Electronics Technology Co., Ltd. [2] Group 1: Acquisition Details - Shikong Technology announced a major asset restructuring plan on October 22, intending to acquire Jiahe Jinwei for cash and stock issuance to 19 parties, including its major shareholders [2] - The total amount of funds raised through the issuance will not exceed 100% of the transaction price, with the number of shares issued not exceeding 30% of the total shares before the issuance [2] - The raised funds will be used for cash payment, intermediary fees, taxes, and to supplement working capital, with a maximum of 25% of the transaction price allocated for debt repayment [2] Group 2: Jiahe Jinwei Overview - Jiahe Jinwei, established in 2012, is a well-known domestic memory module manufacturer focusing on the R&D, design, production, and sales of memory products, including memory bars and solid-state drives [4] - The company has established stable partnerships with major wafer manufacturers such as Samsung, Micron, and SK Hynix [4] - As of the signing date of the acquisition plan, the controlling shareholder Zhang Lili holds 22.14% of Jiahe Jinwei, while she and her spouse Chen Hui collectively control 50.20% of the voting rights [4] Group 3: Financial Performance - Jiahe Jinwei has shown growth in recent years, successfully turning a profit last year, with projected revenues of 854 million yuan, 1.344 billion yuan, and 1.123 billion yuan for 2023, 2024, and the first eight months of 2025, respectively [7] - Shikong Technology aims to enhance its profitability and create a second growth curve by entering the storage sector through this acquisition [7] Group 4: Shikong Technology's Historical Performance - Shikong Technology has faced declining performance since its listing, with revenues dropping from 897 million yuan in 2020 to 203 million yuan in 2023, and net losses accumulating to over 750 million yuan over four years [9] - The company has attempted various business transformations, including investments in smart parking and other sectors, but continues to face challenges in profitability [7][9] - Despite a slight recovery in revenue in 2024, the company reported an expanded net loss of 262 million yuan [9] Group 5: Recent Developments - This acquisition marks Shikong Technology's second major capital operation within three months, following an earlier attempt to change control that was ultimately terminated due to disagreements on key terms [10]