10月10日，昊创瑞通延续昨日涨势继续走高，截至收盘，公司股价报57.80元/股，涨幅9.18%，总市值 约64亿元。公司9月26日在深交所创业板成功上市，证券代码为301668，本次公开发行股票2790万股， 发行价21.00元/股。 昊创瑞通成立于2007年，专注智能配电设备及配电网数字化解决方案，核心产品包括智能环网柜、智能 柱上开关和箱式变电站，广泛应用于国家电网等新型电力系统建设。公司是国家级专精特新"小巨人"企 业、国家级绿色工厂、高新技术企业，并参与国家标准制定。 从财务数据来看，昊创瑞通2022年至2024年营业收入分别为5.60亿元、6.72亿元和8.67亿元，净利润分 别为6876.07万元、8740.74万元和1.11亿元，增长稳健。 随着我国智能电网和新型电力系统构建不断深入，配电设备智能化成为重要发展趋势，昊创瑞通的发展 前景将更加广阔。昊创瑞通融合电子、通信、网络、控制及传感技术，对传统配电设备进行创新优化， 采用智能化、一体化等设计，赋予产品测量数字化、控制网络化、状态可视化、功能一体化和信息互动 化特征，实现智能化升级。 昊创瑞通表示，将坚持"做精配网主业、适度外延发展"的发展 ...

New Listings - From September 22 to September 28, one company was listed on the Shanghai Stock Exchange main board, and three companies were listed on the Shenzhen Stock Exchange ChiNext [2] - YouSheng Co., Ltd. is a professional manufacturer of aluminum alloy automotive parts, focusing on lightweight automotive components to enhance the range of electric vehicles and improve fuel efficiency for gasoline vehicles. On its first trading day, the stock price rose by 71.48%, closing at 66.31 CNY per share on September 29, an increase of 43.03% from the issue price of 46.36 CNY, with a total market capitalization of approximately 12.8 billion CNY [3] ChiNext Listings - Shanghai Jianfa Zhixin Medical Technology Group Co., Ltd. engages in direct sales, distribution, and centralized management of hospital consumables. On its first trading day, the stock price surged by 418.58%, closing at 34.12 CNY per share on September 29, a rise of 383.97% from the issue price of 7.05 CNY, with a total market capitalization of around 14.4 billion CNY [4] - Suzhou Huichuan United Power System Co., Ltd. focuses on the R&D, production, sales, and service of core components for electric drive systems and power systems for electric vehicles. The stock price increased by 147.60% on its first day, closing at 32.77 CNY per share on September 29, up 162.58% from the issue price of 12.48 CNY, with a total market capitalization of approximately 78.8 billion CNY [4] - Beijing Wuchuang Ruitong Electric Equipment Co., Ltd. specializes in the R&D, production, and sales of smart distribution equipment. The stock price rose by 190.76% on its first trading day, closing at 58.78 CNY per share on September 29, an increase of 179.90% from the issue price of 21.00 CNY, with a total market capitalization of about 6.5 billion CNY [5] Companies Passing Review - From September 22 to September 28, two companies passed the review on the Shanghai Stock Exchange Sci-Tech Innovation Board, and one company passed the review on the Shenzhen Stock Exchange ChiNext [6] - BaiAo SaiTu is a preclinical CRO and biotechnology company that provides innovative animal models and preclinical drug development services based on its proprietary gene editing technology [7] - MoEr Thread focuses on the R&D, design, and sales of GPUs and related products, having successfully launched four generations of GPU architecture [7] Companies Submitting IPO Applications - One company submitted an IPO application on the Shanghai Stock Exchange Sci-Tech Innovation Board, and one company submitted an application on the Shenzhen Stock Exchange ChiNext from September 22 to September 28 [10] - Anshi Biotechnology is an innovative biopharmaceutical company focusing on oncology and other diseases with significant unmet clinical needs. The company plans to issue no more than 76.0043 million shares, aiming to raise 2.45 billion CNY for new drug R&D and working capital [12] - Zhongsu Co., Ltd. specializes in the R&D, production, and sales of modified engineering plastics, with applications in consumer electronics, energy storage, automotive, and home appliances. The company plans to issue no more than 12.3329 million shares, seeking to raise 645 million CNY for various projects [14] Companies with Terminated Review - From September 22 to September 28, no companies had their listing reviews terminated on either the Shanghai Stock Exchange or the Shenzhen Stock Exchange [16]

Core Viewpoint - Haocreat Ruitong Electric Equipment Co., Ltd. has officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market, focusing on smart distribution equipment and digital solutions for distribution networks [1] Group 1: Company Overview - Haocreat Ruitong specializes in the research, production, and sales of smart distribution equipment, including smart ring main units, smart pole-mounted switches, and box-type substations [1] - The company has achieved significant revenue growth, with projected revenues of 560 million yuan, 672 million yuan, and 867 million yuan from 2022 to 2024, reflecting compound growth rates of 24.47% and 27.22% for net profits [2] Group 2: Industry Context - The power industry is a crucial foundation for China's economic and social development, with a steady increase in electricity demand driving the growth of the smart distribution equipment sector [2] - By the end of 2023, China's installed power generation capacity reached 2.922 billion kilowatts, a year-on-year increase of 14.0%, while total electricity consumption grew by 6.7% [2] Group 3: Financial Performance - In the first half of 2025, the company reported revenues of 451 million yuan, a year-on-year increase of 2.97%, and a net profit of 61.61 million yuan, up 15.80% [3] - As of June 16, 2025, the company had an order backlog of 750.53 million yuan, reflecting a year-on-year growth of 16.67% [3] Group 4: R&D and Competitive Advantage - The company has a strong R&D team, with 43 personnel, accounting for 11.35% of total employees, and 65.12% of employees holding at least a bachelor's degree [4] - R&D expenditures have shown significant growth, with amounts of 17.30 million yuan, 23.36 million yuan, and 32.32 million yuan over the report period, resulting in a compound growth rate of 36.69% [4] Group 5: Technological Achievements - Haocreat Ruitong has developed core technologies in areas such as fault location and self-healing technology for distribution networks, achieving international advanced levels in several products [5] - The company holds 132 patents, including 15 invention patents, and has participated in the formulation of two national standards [6]

Core Viewpoint - Haocreat Ruitong officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market, marking a significant milestone for the company focused on smart distribution equipment and digital solutions for distribution networks [1] Group 1: Company Overview - Haocreat Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, leveraging national strategic initiatives such as "carbon peak and carbon neutrality" to drive innovation and development [2] - The company has developed key technologies including fault location and self-healing technology for distribution networks, IoT-enabled sensing components, high-precision power sensor technology, and low-pressure sealed air-insulated technology [2] Group 2: Stock Market Performance - The initial public offering price was set at 21.00 yuan per share, with the stock opening at 58.00 yuan and peaking at 75.00 yuan before closing at 61.06 yuan, representing a 190.76% increase on the first day [1] - The total market capitalization reached 6.717 billion yuan, with a trading volume of 18.81 million shares and a turnover of 1.188 billion yuan, indicating a high turnover rate of 81.60% [1] Group 3: Future Plans and Investments - The company plans to use the raised funds of approximately 58.59 million yuan for projects including the production of smart ring network cabinets, smart pole-mounted switches, and the establishment of a smart distribution research center [3][4] - The projects aim to enhance production scale, automation, and information technology levels, thereby improving the company's competitive edge and ensuring sustainable operations [4]

Core Viewpoint - The company, Haocreative Ruitong, is focused on expanding its customer base beyond the State Grid and Southern Power Grid while maintaining strong relationships with these key clients, aiming for a decrease in customer concentration over the long term [1][2]. Group 1: Market Demand and Customer Base - The demand for Haocreative Ruitong's products is expected to continue growing, particularly from the State Grid and Southern Power Grid, which will remain the primary customers in the short term [1]. - The company plans to enhance its sales team and channels, strengthen brand building, and actively seek new customers, particularly in sectors outside of the power grid [2]. - Sales revenue from customers outside the State Grid and Southern Power Grid is projected to grow significantly, with expected revenues of 62.01 million, 49.11 million, and 111.33 million CNY for the years 2022-2024, reflecting a compound annual growth rate of 33.98% [1]. Group 2: Product Development and Innovation - Haocreative Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, with key products including smart ring main units, smart pole-mounted switches, and box-type substations [3]. - The company has invested significantly in R&D, with expenditures of 17.30 million, 23.36 million, and 32.32 million CNY over the reporting period, achieving a compound growth rate of 36.69% [3]. - The company has developed critical technologies such as fault location and self-healing technology for distribution networks, which enhance the intelligence of its products [3][4]. Group 3: Financial Performance - Haocreative Ruitong reported revenues of 559.80 million, 672.37 million, and 867.25 million CNY, with a compound growth rate of 24.47%, and net profits of 68.76 million, 87.41 million, and 111.29 million CNY, with a compound growth rate of 27.22% [6]. - For the first half of 2025, the company achieved a revenue of 450.80 million CNY, representing a year-on-year growth of 2.97%, and a net profit of 61.61 million CNY, up 15.80% year-on-year [6]. Group 4: Future Plans and Strategic Direction - The company plans to issue 27.90 million shares at a price of 21.00 CNY per share, aiming to raise approximately 585.90 million CNY for projects related to smart distribution equipment and R&D [6][7]. - The strategic focus is on becoming a leader in the smart distribution equipment sector, aligning with national strategies for carbon neutrality and smart grid development [7]. - Haocreative Ruitong aims to leverage advancements in IoT, edge computing, and AI to enhance its product offerings and market position [7].

9月10日上午，昊创瑞通（301668.SZ）首次公开发行股票并在创业板上市网上路演在全景路演举行。 投资者交流环节，问及顺应行业发展趋势以及产业融合相关事宜，昊创瑞通董事长、总经理段友涛表 示，对于智能配电设备，其技术兼具一次设备和二次设备的特点，是新旧产业融合的产物，技术主要体 现在产品智能化、一体化、模块化、小型化、环保化和免维护等方面。公司经过持续不断的研发和创 新，通过对传统一、二次配电设备在结构和功能设计、硬件装置和软件配套等方面进行创新优化，融合 现代电子技术、信息和通信技术、网络技术、自动控制技术和智能传感等先进技术，推进新旧产业融 合，为智能电网和新型电力系统构建提供支撑。 在生产制造方面，公司通过自主设计专用测试工装和自动化生产设备，实现对电路板的功能、性能、功 耗、绝缘耐压等方面的全面测试以及自动化焊接和装配，实现重点工序自动化生产；通过开发专用上位 机软件，实现产品生产过程的智能化、可视化、测试数据的实时存储及联网查询，实现数字化质量管 控，促进公司的制造水平由传统制造业向智能制造升级。 凭借在智能配电设备方面的研发和创新积累，自主研发了配电网故障定位与自愈技术、配电设备状态感 知元件 ...

电力设备江湖素来壁垒森严，外资品牌长期垄断高端市场。而昊创瑞通却用一组硬核数据改写了游戏规 则：其自主研发的配电网故障自愈技术实现毫秒级复电，将停电时间从小时级压缩至分钟级；常压密封 空气绝缘技术以零温室气体排放破解环保难题，产品入选北京市首台（套）重大技术装备目录。 资料来源：Wind 2025年8月28日，昊创瑞通于创业板正式开启招股环节，这家"国网配套商"距离其资本市场征程仅剩一 步之遥。此次IPO募资，公司将投入智能环网柜生产建设项目、智能柱上开关生产建设项目、智能配电 研发中心建设项目以及补充流动资金，为迎接新型电力系统行业大机遇再添重磅筹码。 资料来源：招股书 智能配电设备细分龙头 构筑核心竞争优势 智能配电设备是开展配电网智能化升级和建设新型电力系统，提高电力系统灵活感知和高效运行，适应 数字化、自动化、网络化电力系统发展要求，建设智能调度体系，实现源网荷储互动、多能协同互补及 用能需求智能调控的关键设备，是实现配电网数字化转型的重要支撑。 作为国家级专精特新"小巨人"企业、国家级绿色工厂、高新技术企业、北京市企业技术中心、全国低压 成套开关设备和控制设备标准化技术委员会委员单位和电器工业标准化 ...

Core Viewpoint - Haocreat Ruitong (301668.SZ) is experiencing steady revenue growth from 2022 to 2024, driven by its focus on smart distribution equipment and digital solutions for distribution networks [1][4]. Group 1: Financial Performance - The company's revenue is projected to grow from CNY 558.32 million in 2022 to CNY 862.62 million in 2024, with a compound annual growth rate (CAGR) of 24.47% [1][4]. - Net profit is expected to increase from CNY 68.76 million in 2022 to CNY 111.29 million in 2024, with a CAGR of 27.22% [4]. - For the first half of 2025, the company reported revenue of CNY 450.80 million, a year-on-year increase of 2.97%, and net profit of CNY 61.61 million, up 15.80% [4]. Group 2: Product and R&D Focus - Haocreat Ruitong specializes in smart distribution equipment, including smart ring network cabinets, smart pole switches, and box-type substations, with a strong emphasis on R&D and innovation [2][4]. - The company has increased its R&D investment from CNY 17.30 million in 2022 to CNY 32.33 million in 2024, achieving a CAGR of 36.69% [2]. - The company holds 132 patents and 30 software copyrights, with 15 invention patents, indicating a robust innovation pipeline [3]. Group 3: Market Position and Strategy - The company is recognized as a national-level "specialized and innovative" small giant enterprise and has a strong market position in the smart distribution equipment sector [2][4]. - Haocreat Ruitong aims to enhance its production capabilities and R&D strength through the planned use of raised funds for projects related to smart distribution equipment [5][6]. - The company is committed to becoming a leader in the smart distribution field, aligning with national strategies for carbon neutrality and smart grid development [7].

Group 1 - The Ministry of Industry and Information Technology announced the inclusion of the Lishui District CNC Machine Tool Functional Components Industry Cluster in the 2025 list of characteristic industrial clusters for small and medium-sized enterprises (SMEs) [1] - The Lishui District cluster focuses on the upstream and downstream industries of CNC machine tools, establishing a high-end machine tool industrial park that has attracted 180 enterprises, forming a complete industrial ecosystem [1][2] - The cluster includes a national manufacturing single champion enterprise, nine national-level specialized and innovative "little giant" enterprises, and 105 high-tech enterprises, indicating a strong competitive and innovative capacity [2] Group 2 - The cluster has established 21 provincial innovation platforms and has participated in the formulation of seven national standards, with 70% of its CNC machine tool functional components achieving import substitution [2] - The Lishui District has actively engaged in招商工作 (investment promotion) by visiting leading enterprises and industry associations in major cities to accelerate industrial aggregation [3] - The Yuhuatai District Rail Transit Power Equipment Industry Cluster, which was also recognized, includes key enterprises like Nanjing Huashi Electronics and Nanjing Taitong Technology, dominating the market for urban rail transit traction systems and related products [3][4] Group 3 - The Jiangning Development Zone's Intelligent Power Distribution Equipment Industry Cluster has been recognized for its leading research and development capabilities in power control protection products [3][4] - The Yuhuatai District Intelligent Special Robot Industry Cluster focuses on the development and production of inspection robots and firefighting robots, leveraging the advantages of the Software Valley [4] - The city aims to enhance the core competitiveness of SMEs and improve the resilience of industrial supply chains, targeting the creation of more national-level characteristic industrial clusters [4]

据目前安排，若无变化，本周（9月8日到12日）有3只新股申购。其中上证主板1只，创业板1只，北交 所1只。 9月12日启动申购的沪主板新股友升股份，是集设计、开发、生产、销售、服务于一体的专业铝合金汽 车零部件制造商，专注于轻量化汽车零部件领域，公司产品主要聚焦于新能源汽车领域，已经形成了门 槛梁系列、电池托盘系列、保险杠系列、副车架系列等多产品体系。目前公司已进入多家全球头部车企 的供应链体系，与多家知名企业建立了长期稳定的合作关系。 业绩方面，2022年至2024年，友升股份实现营业收入分别约为23.50亿元、29.05亿元和39.50亿元，实现 净利润分别达到2.33亿元、3.21亿元和4.05亿元。本次IPO，友升股份拟募资24.71亿元。 2家公司IPO上会 本周3股打新 截至目前，本周（9月8日到12日）将有2家IPO首发上会，为拟闯关北交所IPO的雅图高新和巍特环境。 截至发稿，本周网上发行1只新股披露发行价。北交所新股世昌股份发行价为10.9元，发行市盈率10.74 倍，行业最近一个月平均动态市盈率28.04倍。 世昌股份是一家专业经营饲料的大型企业，主要产品包括畜禽配合饲料、水产配合饲料、畜 ...