大金作为全球暖通行业的领军企业，其战略布局始终围绕在空气领域的技术积累与市场覆盖。2025年以来，大金在全球各地进行了多项投资，围绕空气领 域，涉及AI数据中心冷却、热泵、研发制造等不同板块，展现出这家百年企业深化全球布局、持续拓展空气事业边界的战略决心。 收购与自建并举，大金全球空气事业布局再提速 2025年以来，大金在全球市场展开一系列精准并购，不断拓展空气事业版图。在AI数据中心解决方案领域，大金收购了拥有服务器级冷却技术优势的 Dynamic Data Centers Solutions公司，能有效解决因数据处理量增加导致的服务器及周边设备电力消耗与发热问题，以推动AI数据中心变革;在热泵服务领 域，大金今年先后收购瑞典住宅热泵服务提供商Kylslaget、苏格兰的供暖服务公司Saltire，以增强在欧洲住宅热泵服务网络的布局，为当地用户提供更全 面、更节能的供暖服务。" 在通过收购不断扩充自身发展的同时，大金还通过开展现地化发展战略，满足不同国家的市场需求。在中国，今年以来，大金全球首个专注于空调核心零部 件研发的创新基地——苏州研发中心正式启用，以打造全球领先的节能环保技术、产品应用和展示标杆，助 ...

Core Viewpoint - The capital market is experiencing a vibrant IPO season in September, with significant activity in both domestic and international markets, indicating a shift in the global IPO landscape [2]. Group 1: Companies Approved for IPO - Weite Environment successfully passed the IPO review after changing underwriters and responding to multiple inquiries, with projected revenues of 3.29 billion yuan and net profits of 51.3 million yuan for 2024 [3]. - Yatu High-tech, a high-tech enterprise specializing in industrial coatings, reported a compound annual growth rate of 15.43% in revenue from 2022 to 2024, with a net profit of 145 million yuan in 2024 [4]. Group 2: Newly Listed Companies - Aifenda, a company specializing in HVAC products, saw its stock surge by 170% on its debut, closing at 74.77 yuan with a market cap of 6.48 billion yuan [5]. - Sanxie Electric, a high-tech enterprise in control motors, experienced a dramatic increase of over 860% in stock price on its first day of trading [6]. - Dahan Technology, known as the "first folding bicycle stock" in mainland China, opened at 67.5 HKD, a 36.36% increase from its issue price, with a revenue growth of 77.56% from 2022 to 2024 [8]. Group 3: Companies Filing for IPO - Electric Construction New Energy plans to raise 9 billion yuan, focusing on wind and solar power projects, with a market share of 1.43% in the domestic market [9]. - Xici Technology, a magnetic sensor company, reported fluctuating revenues, with 2024 projected revenue of 703 million yuan [10][11]. - Sige New Energy, founded by a former Huawei executive, achieved 1.2 billion yuan in revenue within four months of operation, with plans to list in Hong Kong [12]. - Maiketian, a global medical solutions provider, reported revenues of 1.31 billion yuan in 2023, with a growth of 15.4% in the first half of 2025 compared to the previous year [14]. - Bomingwei Robotics, a provider of special space robots, reported a revenue of 249 million yuan in 2024, with a compound annual growth rate of 23.9% over the past three years [15]. Group 4: Market Dynamics - Nasdaq plans to raise the minimum public holding market value from 5 million USD to 15 million USD, significantly increasing the cost of listing for Chinese companies [16].

9月10日， 江西艾芬达暖通科技股份有限公司（简称：艾芬达）正式在深圳证券交易所创业板上市，股票发行价为27.69元/股，上市首日开盘价为83元/ 股，截至当日收盘报74.77元/股，涨幅超过170%，公司总市值超64亿元。艾芬达也是继江南新材和中国瑞林后，江西省今年第三家在A股上市的公司。 此外，在数字化大浪潮下，公司更是战略性地布局智慧生活生态。推出的智能电热毛巾架产品更具备了智能联网、精准控温、语音控制、APP智能远程控 制等功能，并对阀芯感温包进行重点开发。 凭借卫浴毛巾架和暖通零配件两大系列产品的核心竞争力，2022年至2024年，艾芬达公司营收持续增长，分别为7.62亿元、8.3亿元和10.50亿元，年均复 合增长率为17.36%，其中卫浴毛巾架的收入占比均超过55%。扣除非经常性损益后归属于母公司所有者的净利润则分别为 8872.84万元、8739.82万元和 12760.89万元，年均复合增长率为 19.92%，均保持在较高水平。 | (二) 主营业务收入构成 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 报告期 ...

深交所创业板迎来一位智能卫浴领域的新成员。江西艾芬达暖通科技股份有限公司正式挂牌上市，这家 深耕暖通行业二十年的高新技术企业，凭借其在电热毛巾架细分市场的技术积累与市场布局，成为资本 市场关注的焦点。 从2005年上饶市艾芬达卫浴有限公司成立至今，企业完成了从传统制造到智能制造的跨越。作为中国建 筑金属结构协会团体标准《电热毛巾架》的主编单位，公司不仅主导制定了国内首个电热毛巾架行业标 准，更在2021年完成该标准的修订工作。其自主研发的整架一体发热技术、智能恒温系统等创新成果， 已获得欧盟CE认证、德国TUV安全认证等国际权威资质，产品覆盖全球多个国家和地区。 财务数据显示，企业近三年营业收入从7.6亿元增长至10.5亿元，年均复合增长率达17.36%；扣非净利 润从0.88亿元提升至1.28亿元，年均复合增长率接近20%。2025年上半年，公司实现营收5.05亿元，净 利润5977.82万元，分别同比增长7.53%和35.53%。此次IPO募集资金6亿元，将主要用于年产230万套毛 巾架自动化生产线建设及流动资金补充。 技术实力是企业发展的核心驱动力。近三年研发投入累计8791.13万元，组建189人研发 ...

在现代生活中，"家"是人们放松身心、享受生活的核心场所。私宅设计，其核心目标正是为了满足生活在其中的人们的需求，为他们创造一个舒适、实用且 富有个性的生活环境。这其中绕不开两个角色：品牌方与设计师。品牌方能够通过技术、产品和服务满足用户的功能性需求，而设计师承担着满足用户生活 期待的角色。基于此，大金携手设计师群体，围绕"大金中央空气系统"，深入探讨设计师如何与品牌方协同合作，共同为用户创造理想的居住空间。 以用户需求为核心 大金助力设计师打造理想居住空间 设计师作为接触用户的一线，是用户需求最直接的响应者。一名优秀的内装设计师，除了要拥有自身的专业度和经验，更重要的是能够沟通、聆听客户的需 求，准确把握每一个家庭成员的兴趣喜好，诠释不同空间，满足业主对家的期待。只有将客户放在首位，才能为居住空间赋予温暖的灵魂，激发居者的情感 共鸣与未来憧憬。 同时，设计师除了满足当下用户的需求，还要预见用户未来生活变化，考虑空间变换的可能性。设计师如同链接用户与品牌间的"桥梁"，需要与品牌不断交 互、汲取新技术、新产品，才能更好地反哺用户。 面对现代用户日趋多样化的需求，大金作为暖通行业的头部品牌，将技术创新与人性化服务深 ...

证监会日前下发关于同意江西艾芬达暖通科技股份有限公司首次公开发行股票注册的批复，同意该公司 在创业板上市的注册申请。 ...

智能制造水平领先行业 在互联网、大数据和人工智能的推动下，暖通行业进入了全新的技术驱动时代，智能制造、物联网技术以及大数据分析正 在深刻改变暖通行业的格局。 本报讯 （记者曹琦） 新质生产力作为经济发展的核心驱动力，正日益成为推动中国制造业转型升级的关键因素，它不仅为制造业的创新和进步 贡献了中国智慧，更预示着未来制造业的前进方向。 向"新"而行，蓄力打造暖通行业全球标杆企业，江西艾芬达暖通科技股份有限公司（以下简称"艾芬达"）一直在行动，近 年来公司深入推进智能化升级，加快发展新质生产力，引领暖通行业迈向高质量发展阶段。 通过大数据精准洞察消费者需求，暖通企业不仅能够提供更加个性化的产品，还能实现从设计、生产到服务的全方位智能 化升级，显著提升消费者的使用体验。 例如，一款艾芬达智能化电热毛巾架不仅具备传统取暖功能，还融入了智能控制、远程操作等高科技元素，为用户带来更 加便捷、舒适的体验。 截至2024年底，艾芬达累计获得国家授权专利736项，其中发明专利87项，实用专利60项，外观专利589项。这些专利不仅 是艾芬达研发实力的象征，更在实际应用中深刻地推动了产品创新、生产方式变革以及行业标准的提升。 据了 ...

Investment Rating - The report indicates a mixed investment outlook for the global consumer market, with strong resilience in high and middle-income consumer categories, while low-income consumers face weakened purchasing power [1][2]. Core Insights - The global consumer market shows significant differentiation, with high and middle-income categories demonstrating strong demand resilience, while low-income consumers are struggling [1][2]. - Essential consumer goods outperformed discretionary goods in Q4, driven by high inflation impacting low-income purchasing power, leading to a preference for cost-effective products [1][3]. - The global beauty market is expected to grow at around 4% in 2025, with emerging markets outperforming developed regions [1][12]. Summary by Sections Global Consumer Market Performance - The performance of global consumer goods companies in Q4 shows significant regional disparities, with North America experiencing flat overall demand and Europe outperforming [2]. - Japan's consumption growth is driven by inflation and inbound tourism, while Southeast Asia and India remain active markets [2]. Essential vs. Discretionary Goods - Essential goods performed better than discretionary goods in Q4 due to macroeconomic uncertainties, with leading companies in various sectors likely to show more pronounced performance [3]. Sportswear and Apparel Trends - The global sportswear industry saw strong growth in outdoor sports segments, while the mass apparel market remains competitive [4]. - U.S. holiday shopping season promotions boosted sales, but a slight decline is expected in 2025 due to macro uncertainties [4]. Beauty Market Dynamics - The beauty market varies significantly across regions, with North America facing pressure in mass cosmetics, while high-end fragrances continue to grow [7]. - The Chinese beauty market is facing challenges, with a projected retail sales decline in 2024 [8]. Food and Beverage Industry Outlook - The global food and beverage industry faces challenges from low-income consumer pressures in developed markets and slowing income growth in emerging markets [10]. - North American food demand is under pressure, while beverage demand remains relatively stable [10][11]. Future Projections - The beauty industry is expected to see a 4% growth rate in 2025, with emerging markets like India and Southeast Asia becoming key performance drivers for overseas beauty companies [12]. - The food and beverage sector is likely to experience a decline in revenue expectations but maintain earnings per share (EPS) stability due to effective cost management [10].