而在2024年净利润"变脸"的情况下，晨光电机2025年业绩仍未恢复至2023年水平。 近日，舟山晨光电机股份有限公司（以下简称"晨光电机"）北交所IPO审核状态更新为"上市委会议通过"。 审议会议结果公告显示，上委会在会议现场要求晨光电机说明与主要竞争对手相比核心竞争力的具体体现，是否存在主要客户合作稳定性不足风险，是否存 在毛利率持续下滑风险及应对措施，并说明关联交易发生的背景及后续规范措施，是否已经建立并严格实施有效的财务内控制度。 | 代码 | 874468 | 简称 | 晨 | | --- | --- | --- | --- | | 公司全称 | 舟山晨光电机股份有限公司 | 受理日期 | 2025 | | 审核状态 | 上市委会议通过 | 更新日期 | 2026 | | 保存机构 | 国金证券股份有限公司 | 保存代表人 | 罗永 | | 会计师事务所 | 立信会计师事务所(特殊普通合伙) | 签字会计师 | 陈泠 | | 律师事务所 | 浙江天册律师事务所 | 签字律师 | 曹亮亮 | | 评估机构 | 浙江银信资产评估有限公司 | 签字评估师 | 日本 | 来源：公告 晨光电机成立于2001年 ...

编号：2026-001 | | □特定对象调研 | □分析师会议 | | | --- | --- | --- | --- | | | □媒体采访 | □业绩说明会 | | | 投资者关系投关 | □新闻发布会 | □路演活动 | | | 类别 | 现场参观 ☑ | | | | | □其他 线上交流会议 华鑫证券：林子健、江玥璇、程晨 | | | | | 九一基金：敖焱杰 择恒资本：邱文琰 | | | | 参与单位名称及 | 赢仕投资：李柯兵 | | | | 人员姓名 | 紫微星石私募基金：韩东民 | | | | | 首创证券：王松华 | | | | | 上海证券：葛博威 | | | | | 东方财富证券：高帅 | | | | | 兴业证券：李梅 | | | | 时间 | 年 月 日 2026 1 7 13:00-15:00 | | | | | 2026 年 1 月 8 日 14:00-16:00 | | | | 地点 | 现场 | | | | 上市公司接待人 | 副董事长、总经理许鸣飞先生 | | | | 员姓名 | 董事会秘书、副总经理吴文静女士 | | | | 投资者关系活动 | 1、公司近期经营情况如何 ...

1月5日，舟山晨光电机股份有限公司（晨光电机）北交所上市成功过会，保荐机构是国金证券。 沈燕儿出生于1969年，中专学历，历任晨光有限采购经理、行政总监，2023年9月至今担任董事职务。 晨光电机从事微特电机的研发、生产和销售，产品主要应用于以吸尘器为主的清洁电器领域，客户包括凯特立、川欧电器、浦罗迪克、爱之爱、诚洁智能、 爱普电器、德尔玛、新宝股份、春菊电器、普沃达等众多清洁电器生产厂家，近年来还开拓了石头科技、追觅科技、云鲸智能等知名新兴清洁电器客户。 据短平快解读了解，2001年12月，晨光电机前身晨光有限成立，2023年9月完成股份制改革，2024年9月挂牌新三板，目前所属层级为创新层。 夫妻表决权超93%。晨光电机控股股东是吴永宽，实际控制人是吴永宽、沈燕儿夫妻，其中吴永宽直接持股比例为53.13%，并通过舟山恒晨间接控制4.84% 的股份；沈燕儿直接持股比例为35.42%，两人合计控制公司93.39%的股份。 公开资料显示，吴永宽出生于1968年，大专学历，自创办晨光有限以来历任监事、执行董事、总经理职务，2023年9月至今担任董事长、总经理职务，还是 舟山恒晨执行事务合伙人。 吴永宽、沈燕儿夫妻 ...

据了解，晨光电机专业从事微特电机的研发、生产和销售，产品主要应用于以吸尘器为主的清洁电器领 域。公司IPO于2025年6月25日获得受理，当年7月18日进入问询阶段。 本次冲击上市，晨光电机拟募集资金约3.99亿元，扣除发行费用后的净额将投资于高速电机、控制系统 及电池包扩能建设项目，研发中心建设项目。 北京商报讯（记者 马换换 王蔓蕾）根据安排，舟山晨光电机股份有限公司（以下简称"晨光电机"）北 交所IPO将于2026年1月5日上会迎考。 ...

每经AI快讯，江南奕帆（SZ 301023，收盘价：35.65元）12月15日晚间发布公告称，公司第五届第一次 董事会会议于2025年12月15日在公司会议室以现场方式召开。会议审议了《关于变更公司证券简称的议 案》等文件。 2024年1至12月份，江南奕帆的营业收入构成为：电机占比98.87%，其他业务占比1.13%。 截至发稿，江南奕帆市值为28亿元。 每经头条（nbdtoutiao）——中标企业频频弃标 大型医疗设备采购有何难言之隐？ （记者 张明双） ...

Core Viewpoint - The implementation of several important national standards starting from September aims to regulate emerging industries, promote energy conservation and emission reduction, create a favorable consumption environment, and ensure the safety of people's lives and property [2]. Group 1: Artificial Intelligence Standards - The mandatory national standard "Identification Methods for AI-Generated Synthetic Content" (GB 45438-2025) establishes identification methods for AI-generated synthetic content, applicable to service providers [3][5]. - The implementation of this standard will help prevent security risks associated with AI-generated content and enhance the safety level of the AI industry [5]. Group 2: Cybersecurity Standards - The recommended national standard "Criteria for Determining Cyber Attacks and Cyber Attack Events" (GB/T 37027-2025) standardizes the description elements, determination, and counting methods for cyber attacks, guiding organizations in monitoring and analyzing cyber incidents [6]. - This standard will provide technical support for maintaining cybersecurity through improved analysis and perception of cyber attack behaviors [7]. Group 3: Smart Home Appliances Standards - The recommended national standard "Voice Interaction Technology for Smart Home Appliances - Part 1: General Requirements" (GB/T 45354.1-2025) outlines the classification, framework, technical requirements, and usage instructions for voice interaction in smart home appliances [8][9]. - The implementation of this standard will enhance the convenience, safety, and reliability of voice interaction features in smart home appliances [9]. Group 4: Furniture and Electrical Safety Standards - The mandatory national standard "Flame Retardant Performance Safety Technical Specification for Furniture" (GB 17927-2024) specifies requirements for flame retardant performance, inspection rules, and labeling for soft furniture [10]. - The implementation of this standard will improve furniture product quality and promote healthy development in the furniture industry [10]. Group 5: Electric Bicycle Safety Standards - The mandatory national standard "Safety Technical Specification for Electric Bicycles" (GB 17761-2024) sets technical requirements for safety, mechanical safety, electrical safety, and more for electric bicycles [12][13]. - This standard will significantly enhance the safety technical level of electric bicycles and regulate industry competition [13]. Group 6: Kitchen Appliance Energy Efficiency Standards - The mandatory national standard "Energy Efficiency Limits and Energy Efficiency Grades for Kitchen Appliances" (GB 21456-2024) establishes energy efficiency levels and technical requirements for kitchen appliances like rice cookers and microwaves [14]. - The implementation of this standard will improve energy efficiency levels of kitchen appliances and promote green consumption [14]. Group 7: Motor Efficiency Standards - The mandatory national standard "Energy Efficiency Limits and Energy Efficiency Grades for High Voltage Three-Phase Asynchronous Motors" (GB 30254-2024) specifies energy efficiency levels and technical requirements for electric motors [15][16]. - The implementation of this standard will enhance energy-saving technology levels in the motor manufacturing industry [16]. Group 8: Drug Testing Standards for Drivers - The mandatory national standard "Threshold Values and Testing for Drug Content in Vehicle Drivers" (GB 45248-2025) defines threshold values and testing methods for 11 types of drugs in drivers [17][18]. - This standard will provide solid technical support for combating drug-related driving offenses and maintaining public safety [18]. Group 9: Outdoor Fitness Equipment Standards - The mandatory national standard "General Requirements for Outdoor Fitness Equipment" (GB 19272-2024) outlines requirements for materials, design, safety warnings, and maintenance for outdoor fitness equipment [19][20]. - The implementation of this standard will promote the comprehensive upgrade of outdoor fitness equipment to meet diverse fitness needs [20].

Group 1 - The appreciation of the RMB is expected to benefit the general public by making imported goods, overseas travel, and studying abroad cheaper, which can help reduce imported inflation [7] - The RMB's exchange rate has reached new highs against the USD, with onshore and offshore rates hitting 7.1260 and 7.1155 respectively, marking the highest levels since November 2024 [2] - The appreciation of the RMB is supported by both external factors, such as the dovish stance of the Federal Reserve, and internal factors, including the strong fundamentals of the Chinese economy, which attract international capital inflows [3][4] Group 2 - Historically, the RMB has experienced three significant appreciation cycles, each coinciding with strong economic performance and financial opening policies, leading to increased foreign capital inflow into the A-share market [4] - The appreciation of the RMB is positively correlated with the performance of the A-share market, as it reflects increased confidence from international investors in the Chinese economy [4] - Industries with high foreign currency liabilities or significant import costs, such as airlines, paper, petrochemicals, and semiconductors, stand to benefit from RMB appreciation [5] Group 3 - The traditional view that RMB appreciation necessarily leads to a decline in exports is challenged by recent data, which shows that during periods of RMB appreciation, exports to the US and EU have actually increased significantly [6] - The current export landscape is dominated by high-value products, which mitigates the negative impact of RMB appreciation on competitiveness [6] - The overall impact of RMB appreciation on the economy is favorable, as it reduces the costs of energy and raw material imports, benefiting the macroeconomic structure [7]

Group 1 - The implementation of new national standards starting from September 1 aims to regulate emerging industries and promote healthy development, energy conservation, and consumer safety [1] - The national standard for AI-generated synthetic content identification (GB 45438—2025) is mandatory and will help mitigate security risks associated with AI-generated content [2] - The national standard for network attack and incident determination (GB/T 37027—2025) provides guidelines for monitoring and analyzing network attacks, enhancing cybersecurity [3] Group 2 - The national standard for voice interaction in smart home appliances (GB/T 45354.1—2025) aims to improve the convenience and safety of voice interaction features in smart appliances [4] - The mandatory national standard for furniture flammability (GB 17927—2024) sets requirements for flammability performance, promoting quality control in the furniture industry [5] - The national standard for electric bicycle safety (GB 17761—2024) outlines technical requirements for safety and quality, supporting industry regulation and export trade [6] Group 3 - The mandatory national standard for energy efficiency in kitchen appliances (GB 21456—2024) establishes efficiency levels and testing methods, encouraging green consumption [7] - The national standard for high-voltage three-phase asynchronous motors (GB 30254—2024) aims to enhance energy-saving technologies in the motor manufacturing industry [8] - The national standard for drug content in drivers (GB 45248—2025) sets thresholds for various drugs, providing a framework for combating drug-related driving offenses [10] Group 4 - The mandatory national standard for outdoor fitness equipment safety (GB 19272—2024) specifies requirements for design, materials, and safety, promoting upgrades in outdoor fitness facilities [11]

Core Viewpoint - The report highlights significant growth in revenue and net profit for SEC Electric Machinery Co., Ltd. in the first half of 2025, driven by increased market expansion and improved operational efficiency [2][4][13]. Financial Performance - The company achieved operating revenue of CNY 308.27 million, a year-on-year increase of 21.94% compared to CNY 252.81 million in the same period last year [2][4]. - The total profit reached CNY 38.09 million, a substantial increase of 252.94% from a loss of CNY 24.91 million in the previous year [2][13]. - Net profit attributable to shareholders was CNY 34.97 million, up 240.92% from a loss of CNY 24.82 million [2][4][13]. - The net cash flow from operating activities was negative at CNY -19.24 million, a significant decrease from CNY 1.14 million in the previous year [2][13]. Business Overview - The main business focus is on the manufacturing of large and medium-sized electric motors, generators, and related power systems, with a strong emphasis on R&D and innovation [3][4][6]. - The company operates under an order-based production model, tailoring products to customer specifications and providing comprehensive after-sales services [3][4]. Market and Industry Context - The electric machinery and equipment manufacturing industry saw a 6.4% increase in industrial value added, with the electrical machinery sector growing by 7.0% in the first half of 2025 [3][4]. - The small and medium-sized motor industry experienced stable production and sales growth, with an increase in total industry profits and improved cost-profit ratios [3][4]. Competitive Advantages - The company holds 47 valid patents, including 21 invention patents, and has been recognized as a high-tech enterprise in Jiangsu Province [6][8]. - The company emphasizes quality management and has established a comprehensive quality assurance system, achieving various international certifications [9][10]. Strategic Developments - The company plans to diversify into upstream resource industries, including non-ferrous and precious metal investment and processing, to enhance its long-term profitability and sustainability [7][17]. - The management is focused on optimizing production processes and enhancing product quality through technological innovation and automation upgrades [6][11].

Core Viewpoint - This week, two new stocks will be available for subscription in the A-share market, namely Huaxin Jingke and Sanxie Electric, with subscriptions starting on Monday and Tuesday respectively [2]. Group 1: Huaxin Jingke - Huaxin Jingke is a leading manufacturer in the field of precision stamping iron cores, with established partnerships with major companies like BYD and BMW [2][3]. - The offering price for Huaxin Jingke is set at 18.6 CNY per share, with a maximum subscription limit of 13,500 shares per account, requiring a market value of 135,000 CNY in the Shanghai market [3]. - The company specializes in the research, production, and sales of various precision stamping iron cores, which include types for electric vehicle drive motors, micro motors, electrical equipment, and ignition coils [3][4]. - Huaxin Jingke has achieved revenues of 1.192 billion CNY, 1.189 billion CNY, and 1.421 billion CNY for the years 2022, 2023, and 2024 respectively, with net profits of 114 million CNY, 156 million CNY, and 153 million CNY [4]. Group 2: Sanxie Electric - Sanxie Electric is a high-tech enterprise focused on the research, manufacturing, and sales of control motors, with products including stepper motors, servo motors, and brushless motors [5][6]. - The offering price for Sanxie Electric is 8.83 CNY per share, with a maximum subscription limit of 855,000 shares per account [5]. - The company emphasizes innovation in motor technology and has developed a comprehensive process database to meet diverse customer needs [5][6]. - Sanxie Electric has reported revenues of 287 million CNY, 362 million CNY, and 420 million CNY for the years 2022, 2023, and 2024 respectively, with net profits of 27 million CNY, 49 million CNY, and 56 million CNY [6][7].